Day Low : 7856.95 Day High : 7905.95 Range : 49 Points Day Pivot : 7774 Hr. Pivot : 7871NS more than a Century below OK ( Octa Kilo = 8000).Currently hovering around 7876. NS NEARLY a Century above Day Pivot @ 7774 & Hr. Pivot @ 7871 indicating BULLISHNESS.NS in SOR mode in Hr. T/F & BOD in Day T/F.Weakness continues below Hr. HEma @ 7883.SOR = Sell On RisesBOD = Buy On Dips
@ Sonu,Except in a "V" shaped recovery, any gap up that happens when the previous trading day's technicals are in downtrend, would have a pull back. And only when the EOD prices confirm the break-out, some sustainability comes."Hour technicals were kept pressed down for a while without any meaningful correction as well as without a strong downward momentum" - This gap is a shake out to see whether downtrend momentum could return or time for a relief rally..
Followers of JNSAR :Day Low : 7856.95 Day High : 7905.95 Day Range : 49 pointsNS trading just aBoVE Today'S JNSAR @ 7872.Quarter Century above Hr. JNSAR @ 7852.Longs can be initiated on retracement @ or around 7872 with Strict SL @ 7842.NS nearly a Century above Day's pivot @ 7774.NS currently hovering around 7874.Note : As JNSAR turned long 5 hrs back only, Whipsaws r possible.Strict SL is a must for all trades whether Short or Long.
Holding "7867", an attempt at new high for the day is likely.
Good Day Sir !Hello to classmates.. :-) Trying to get back in the ring after a "sabbatical" ! Need your blessings.Closing above the falling trendline ~7850 will confirm the Fallign wedge? or only above 7920-30 Zone ?
@ anand ,Know the direction - ST is up while week is still down; hence, cautiously long.Know the retracement - Each segment of upmove gets retraced partly till 5 segments are done (or 3). Because of the strong gap up, a shallow retrace of 38% of 7766 to 7906 was done.Make your trades - once you believe in your studies, trading happens.Falling wedge, channel break out, etc are many studies that must conform with technicals and they add more validity to trades.Now, holding "7873", upmove for the day continues...
below 7850-60 negative diver on hourly chart.Bn already in negative diver,,
Thanks a lot Master!