Still now both bulls and bears are defending and both are not ready to give up. I do have produced mixed view in my blog.
So Far
USD Index looks Bearish – FII's will possibly turn net buyers.
TRIN Oversold levels – Falling trin is considered as bullish
Nifty – Weekly charts looking bearish top formation. Bulls will return only above 4474 and 4600 on weekly closing basis
Reliance – Reliance closed below fresh 4 week low. Alarming sell signal as per Donian's 4 week rule and also lagging nifty
Overall Bulls are defending 4155 levels in nifty and bears are defending 4474 levels on weekly basis. Breakout and sustainability
on either side will confirm the trend direction.
Related Readings and Observations
The Ultimate truth about money Just check this funny animation from Joho Studio.... Girls forgive me in advance!- 20 Rules To Stop Losing Money……………. MAYUR GALA...... 1. Don't trust others opinions - It's your money at stake, not theirs. Do your own analysis, regardless of the information source. 2. Don't believe in […]
- Say Happy Birthday for the Baby Bull Longterm Trendlines which act as resistance are broken after jan Crashfor the first time on 5th Aug.... Its looks like 15th August for Me.... Nifty's next target of 4720 - […]
- Buy ICSA India Limited ICSA (India) Ltd has been in the forefront of adopting technologies to ensure customer satisfaction with a suite of embedded solutions and comprehensive quality Infrastructure, […]
- STRADDLES ARE STRANGLES – Lies, Lies and Damn Lies -9 Sellers of naked calls face unlimited loses if the price of asset they sold goes up. For example if a speculator sells 1000 MSFT calls at strike 25 for a premium of $2, his loses starts […]
- Falling wedge Pattern Formation in Bank Nifty Bank nifty has gave breakout of falling wedge on hourly chart .11420-30 is an resistance zone as per line chart which is comfortably above 200dma. above which it can face resistance at […]
Leave a Reply