Daily charts:
- trend is down on daily charts
- today NF closed 1.4% in negative at 10858
- this is the lowest close in past 1 week
- AD was 10:7... this is something I have not seen for a very long time
- this means a lot of buying is now coming in at lower levels even as market falls
- option writing support shifts to 10500... some more downside expected?
5 min charts:
- break from range is short signal
- cover at close
- one could have also considered a short at top of range (circle)
Same chart with kplswing indicator... keep 5 or 10 bar low as SL for long position and vice versa
- trend is down on daily charts
- today NF closed 1.4% in negative at 10858
- this is the lowest close in past 1 week
- AD was 10:7... this is something I have not seen for a very long time
- this means a lot of buying is now coming in at lower levels even as market falls
- option writing support shifts to 10500... some more downside expected?
5 min charts:
- break from range is short signal
- cover at close
- one could have also considered a short at top of range (circle)
Same chart with kplswing indicator... keep 5 or 10 bar low as SL for long position and vice versa
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