Daily charts
- trend is down on daily charts
- today, markets opened with a severe gap down but recovered smartly
- initially down almost 4%, markets closed 1.3% negative and close was near day's high.
- final close was still below 8500... my key support now becoming resistance
- AD was negative
- overall candlestick pattern is very bullish and 8000 now becomes a very important support
- considering the volatility, I expect a lot of sideways movement within this large body candle
5 min charts
- severe volatility as markets open near deep supports (8000)
- fast recovery followed by wild swings
- I covered positional shorts in first 10-15 min, then went short again intraday around 8350
- booked around 8220... next short trade around 8350 whipsawed
- trend is down on daily charts
- today, markets opened with a severe gap down but recovered smartly
- initially down almost 4%, markets closed 1.3% negative and close was near day's high.
- final close was still below 8500... my key support now becoming resistance
- AD was negative
- overall candlestick pattern is very bullish and 8000 now becomes a very important support
- considering the volatility, I expect a lot of sideways movement within this large body candle
5 min charts
- severe volatility as markets open near deep supports (8000)
- fast recovery followed by wild swings
- I covered positional shorts in first 10-15 min, then went short again intraday around 8350
- booked around 8220... next short trade around 8350 whipsawed
Sir,
ReplyDeleteThis is clearly downtrend.Close below 8500 and 26 dma does not indicate enough strength to close above 8500.So likely return even before 8500 & make a run up up to 7980 to gather strength to cross 8500 during this weekend.*020 will be best investment level for investors.