Hello friends,
Last week I started the commentary with five conditions, they are listed below.
1. BUYing opportunity
2. BUY hold
3.Wait for trend confirmation
4. SELLing opportunity
5. SELL hold.
We might be in the middle of trend reversal.
So, here both bulls and bears should take care.
If NIFTY cannot able to close above the red trend line then it signals the correction is underway. It will be confirmed this week.
Any dare people can short the NIFTY at red line which can act as resistance line.
my view about the NIFTY
3.Wait for trend confirmation
When it will confirm the down trend?
Simple, new lower low will confirm it. it is now at 11150-11300 range and not able to go above 11500 -11600 range.
Thats it
Have a nice weekend. SEE YOU NEXT WEEK.
Your humble trader,
Kiran
Last week I started the commentary with five conditions, they are listed below.
1. BUYing opportunity
2. BUY hold
3.Wait for trend confirmation
4. SELLing opportunity
5. SELL hold.
We might be in the middle of trend reversal.
So, here both bulls and bears should take care.
If NIFTY cannot able to close above the red trend line then it signals the correction is underway. It will be confirmed this week.
Any dare people can short the NIFTY at red line which can act as resistance line.
my view about the NIFTY
3.Wait for trend confirmation
When it will confirm the down trend?
Simple, new lower low will confirm it. it is now at 11150-11300 range and not able to go above 11500 -11600 range.
Thats it
Have a nice weekend. SEE YOU NEXT WEEK.
Your humble trader,
Kiran
