Nifty and Bank nifty is in sell mode for a very long time in the hourly intratrend charts. Currently the resistance zone is coming around 5846 and 10415 respsectively. Also the stochastic momentum indicates very extreme readings in nifty and likely a turnaround from the bottom lows. An increasing stochastic momentum on nifty hourly charts suggest a recovery from a bottom. It is advisable to track stochastic momentum at current levels to identify bottom formation and can play the reversal in small quantities of long only if the stochastic momentum(35,3,3) increases on the hourly charts.
Related Readings and Observations
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Nifty and Bank Nifty Hourly Charts May 2014 Overview Nifty on the hourly charts is in sell mode since 29th April 2014 and currently the resistance zone comes around 6766. However on contrary Banknifty still maintaining the positional buy […]
Nifty and Bank Nifty Hourly Charts Overview Nifty hourly charts is in positional sell mode since 28th April and currently the resistance zone come near 6845. However Banknifty on the hourly charts still manage the positional buy […]
Nifty and Banknifty Hourly Charts and Open Interest Lookup Nifty and Banknifty is in positional buy mode since 22nd April and currently the support zone comes around 6736 and 12820 respectively. Reverse your position to positional shorts if the […]
i am senior citizen aged 73 yrs interested in nfty/bank/stock futures with minimum loss could you be helpful
yours
pasmudaliar
pl send intratrend afl code
thanks