Today markets closed 1% in the red ... this is the first negative closing after 4 UP days. Advance decline was positive which is a good sign.
Broader trend is up above 6080 spot... this is the recent swing low which also happens to be very close to previous swing low at 6000.
Option writing support exists at 6000. This means option writers do not expect 6000 to break this series. It does NOT mean that 6000 will come.
Intraday charts show signs of buying at lower levels
Broader trend is up above 6080 spot... this is the recent swing low which also happens to be very close to previous swing low at 6000.
Option writing support exists at 6000. This means option writers do not expect 6000 to break this series. It does NOT mean that 6000 will come.
Intraday charts show signs of buying at lower levels
Breakouts today
Source: based on study of publicly available information (websites, media, tv etc) and charts
Hi kpl,
ReplyDeleteIs this the start of new bull run or we will face a big correction and then start the next big bull run.whats ur opinion.because bull run will be so fast but this seems to move slowly from 5118 to now.
I was bullish from 5200 (forum)... I am still bullish as long as nifty trades above 6000.
DeleteI don't know if this is start of new bull run or not.. this is known usually in hindsight.
Sir
ReplyDeleteHow u come to know intraday chart show buying at lower levels .
The correction fizzled out around 10am... there was a buy signal around 11.15-11.20 which took the market to day's high. Though this was sold off, the day's low did not break.
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