As long as Nifty trades below Short/medium term averages, the set up suggests to sell on rises. When the index moves away too far away from these averages, there would be "mean reversion" which offers some of the quicker profits for the trader who is quick enough to spot them. Algorithmic trading is all about such a concept.
This trend indicator has 12 & 26 ema as its components and they are the resistances during this down move.
6 comments:
Master,
Just had a quick glance over the Sectoral Indices' charts. The picture is a nightmare for the bulls. The selling is spreading and continuously getting broad-based. The Midcap and Smallcap indices clearly show that. Most of the Sectors have broken down and the others are on the verge of it. Even BN has a daily MACD bearish crossover to fight with. This Bear market is now showing every possibility of bringing back the down-circuit days. Only we can't know the day in advance. :D
By your guidance, we have been able to stay on the right track. Please take my Pranam once more.
Nifty EOD
EW: http://www.mediafire.com/?qkjsar31wlu5r7f
MOB: http://www.mediafire.com/?shec5od20utc103
Namaste Ilango Sir & Blogmates,
Bulls trying to resurrect themselves, are they successful?: Option Analysis for 21-06-2011
And for those friends who are suffering for Blogger Problem Duplicated at Wordpress Site
Thanks & Regards,
Sanjay Kr Jaiswal
May be a Gap up tomorrow based on the Global Cues and Greece worry losing strength.
5350-5375 seems to be a possible target for tommorrow.
Dear DR!
Thanx for ur kind words, credit goes to you too. Bcoz earlier i never traded in Bank Nifty, it was you only who suggested 2 months back & thats why i came into this:)
Rgrds
Kumar
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