Look for a possible negative divergences developing in the intra charts as the upmove progresses past 2740, to book out of longs and for a possible "short" trade.
Charts are self explanatory. Daily trend is firmly up. Weekly continues to be down. The hourly is at the "Overbought" region but without any negative divergences.
Volumes have been high with price rises in many stocks.
For Monday:
Resistances: R1 @ 2742, 20DMA @ 2739, 5 wk. Ema @ 2737 & 5wk avg @ 2758.
For supports:- Pivot @ 2704, S1 @ 2682, 5Day High ema @ 2674 & 10 DMA @ 2660.
Have a great weekend....
Charts are self explanatory. Daily trend is firmly up. Weekly continues to be down. The hourly is at the "Overbought" region but without any negative divergences.
Volumes have been high with price rises in many stocks.
For Monday:
Resistances: R1 @ 2742, 20DMA @ 2739, 5 wk. Ema @ 2737 & 5wk avg @ 2758.
For supports:- Pivot @ 2704, S1 @ 2682, 5Day High ema @ 2674 & 10 DMA @ 2660.
Have a great weekend....
Another Nifty stock has turned weak. falling with huge volumes and breaking the Neckline of the Head and shoulder, comments has been inserted in the chart - kindly refer and do due diligence before entering trade in this scrips, often I may go wrong with my analysis- as it is rightly said market is all of probabilities and not certainties. For further details, join me through yahoo messenger id manojchopra70@yahoo.com.
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