Tomorrow's Trade
Pl. see the 5min, 15min ,30min,60min charts.The short term indicators are in oversold conditions in all of them whereas in Daily charts they are in sell mode.As today's close is below 5d low ema for first time in last many days and oversold indicators may prompt a retest of 5d close ema at 5445 ,but the Daily TA in sell mode may take back the movement downwards.Prices have closed near 20dema today and July expiry (of Aug.series futures) at 5421 .So, any bounce to the mentioned level of 5445 or higher can be used for short buildup.Remember that 5440 was also a good support that was broken today so will act as a resistance further till overcome.The bias is down now till closes above approx 5475 levels again for Positional trade.Target 5350-5320 levels based on Bollinger band and Fibo. retrace levels in Daily charts.
3 comments:
table turned out in 1 day :)
thanks for the charts RV..tomorrow morning we may open at your favorite longtime frustrated "5385" :)..lets see
ya az,
looks like somebody was watching the s/l at close above 5475 and enjoyed giving us whips.but its ok ,all part of game .
today as mentioned in eod the second break of 5440 and swing low of 5430 till then ,gave a good shorting opportunity,
it helped to keep 5440 as SAR.
like sir said in eod about his critic,very imp to sit tight through good setups and keep watch on developing signals and act accordingly.
Today is a widebody, wide range day,
so tomorrow we can express a compressed day.
Chances are there for a bounce, as u say.
:)
thanks
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