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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pas mudaliar says
August 7, 2013 at 10:52 ami am senior citizen aged 73 yrs interested in nfty/bank/stock futures with minimum loss could you be helpful
yours
pasmudaliar
mahendra says
August 29, 2013 at 7:39 pmpl send intratrend afl code
thanks