Could not have had a better setting for Nifty tomo :-)
OBSVs: 1. Price has contracted to a band between 5325-5412. Breach on either side will be EXLOSIVE
2. Nifty has formed a CONSOLIDATION PATTERN "PENNANT", PRICE ABOVE 5412 will it signal a Break-out !
3. Price has formed an INSIDE NARROW RANGE 3 pattern, with 2 consecutive spinning tops, IF supported by VOLS, this is BULLISH
4. Price has closed below 5DHEMA , but above 5D EMA & hence should be considered BULLISH, until proven otherwise by close bekow 5DLEMA (@ 5325)
5. Price v close to PSAR.... one tick & it will signal a possible breakdown
SMO_SAR VIEW:
1. No change in BULLISH TREND, since price has closed above 5DEMA
2. BUY Nifty if PENNANT plays out above 5412 , SL 5390 , Tgt: 5460 / 5525
3. SELL Nifty if Lower TLs, PSAR is breached @ 5321 , SL : 5330 , Tgt: 5270 / 5223
cheers
No comments:
Post a Comment