Good Morning !! Yesterday NIFTY moved exactly as per our Opening Bell (scenario - 1). Today's price action may decide about the direction for coming weeks.
If we look closely at 30 min chart then there is enough evidence for some upmove in NIFTY.
A) Positive Divergence
B) Oversold CCI
C) Buying Cross in MACD
But daily chart is not looking bullish. -ve Divergences in indicators are suggesting possibility of downward movement.
It may be concluded that Intraday basis we may get opportunity to buy but higher levels should be used to sell for positional trade. It is highly possible that we may get Hanging Man candle in weekly closing.
5980 is important level for Nifty. on the higher side 5980/5995/6010/6030 are the levels to watch out. Whereas on the lower side, 5945/5930/5905 are the levels to watch out.
If we look closely at 30 min chart then there is enough evidence for some upmove in NIFTY.
A) Positive Divergence
B) Oversold CCI
C) Buying Cross in MACD
But daily chart is not looking bullish. -ve Divergences in indicators are suggesting possibility of downward movement.
It may be concluded that Intraday basis we may get opportunity to buy but higher levels should be used to sell for positional trade. It is highly possible that we may get Hanging Man candle in weekly closing.
5980 is important level for Nifty. on the higher side 5980/5995/6010/6030 are the levels to watch out. Whereas on the lower side, 5945/5930/5905 are the levels to watch out.
NP-SAR OF 11/01/2013: 5981
Wish you happy trading !!!
No comments:
Post a Comment