1. Prices closed above the 5d ema and 5w low ema.
2. Trading above 5dHema of 5750 ,can target 5wema at 5790 ,which also is the pivot resistance R2.Booking profits here will be prudent eyeing the RBI meet and coming holiday.
If a Trending day unfolds then book at 5820 levels,which is 20dema and a fibo retrace no.
3. First resistance may come near 5765 (R1) -5775(61.8% fibo) zone .Part book here.
4. Support should come at 5dema ,5720 and 5712 (vol. profile area) .This is also near 5710 ,S1, Pivot point.
5. Strict S/L of today's low ,5697, which is also the high vol area in 2d and 5d profile ,should be adhered to.Trading below it will open doors for test of 5650 levels.
6. FII's were buyers in small qty. today.
7. Expect a volatile session due to RBI meet,Holiday and expiry nearing with rollovers.
Trade safe ,book at Technical levels and respect S/L.
7 comments:
Hey Aarvee,
Nice initiative. I fear now OJN-2 will die a natural death. Anyway your inputs are always insightful the URL hardly matters ... :)
EW reading is a little confusing (as always) now. I don't see as of now beyond 5860, of-course that's a long way to travel.
Regards,
Rajib
Hi Rajib,
Thanks for visiting here.
Out and out longs can be only made above 5880 and at least the 5-20 ema bullish cross .Till then i will trade shortterm swings with extra catuion on money management and position sizing.
With the fundamentals now ,u never what will strike u one fine morning.
Regards,
Will look fwd to meanigful discussions with u here.
@ Vineet
@ isthamus
Hi ,
Nice of u to visit the blog.
Thanks for the wishes
regards
I like the name of the blog.
Third Eye.
Hi Aarvee,
Keep doing the good job and best of luck for your blog.
Hi Nirav,
Thanks for visiting the blog and leaving positive comments.
regards
Congrats RV...
I am also one of yr fans.
Thanks bizagra ,
Anuj? I suppose. BTW is u belong to Agra ,I also connect to it and have few relativs there.
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