Nifty half century..... Well played.......

Hi all,

Refer to my post of 26th March stating that Nifty may bounce back with supports of 5600.

Though Nifty created a lower low on daily charts (today's low is lower than Tuesday's) still i feel there is a chance of a short term bounce.

However on a safer side. on a conservative basis, one can think of long in Nifty if today's high is surpassed on Monday since its a divergence on daily charts.

One thing to note down is on hourly charts I was long in morning near 5620 with the same SL, however I had booked profits since its nearing the overbought area in hourly RSI

For learning a different dimensions to Divergences also check my other blog - 

http://hrishikeshsp.blogspot.in/

Cheers

Hrishi

A pause to slow poisoning.... Ray of hope for Bulls!!!!!!!

Hi all,

Nifty after opening gap down, near supports of 5610-5600 levels today, showed a bit of strength and closed in green almost after a week of loosing streak.

Today's high remains very crucial. If today's high, i.e. 5655-60 is taken out on Thursday, we can have a short term up move with supports below 5600-5590 and resistances being near 5690-5715-5750-5800....

however its important to note that if and only if the high of 5660 is taken out on Thurday the above mentioned view would become active, else the support 5600-5590 will act crucially below which a further downside till 5550-5500 can be expected...

Trade with strict Stop Loss and proper Money Management........



Cheers

Hrishi!!!

Confused!!!!

Hi all,

After a break of crucial support areas of 5660, Nifty did not convincingly break the 5640 levels... Since its a gap up opening today and we started the week with gains of around 0.5%, going forward, I feel 5630 will be a short term bottom, however there are no reasons as of now to go long at current levels...... some stocks like, Coal India, Cairn, Relinfra are showing some positive signs on hourly/daily charts.

Request you all to trade with strict Sl s and risk management....



Regards

Hrishi