Confluence of multiple data points : 1. Day level trend 2. Trend reversal at the support 3. A close above the lower high and side ways accumulation (order building) action. 4. Potential breakout to the upside.
US Inflation data is out. SGX nifty broke the miniature trend's support. Day close less than 15600, its considered as trend reversal and more likely to continue on the downside. But, its one of the finest time to accumulate the stocks that are getting traded at discount as we are more likely to bottom out by August/ September.
NIFTY BACKTEST Strong resistance at 16050. Couldn't make lower lows in 1 H TF Assuming a pullback, before sliding down further
Though FED sounds all hawkish in their latest FOMC meeting, the rate hike of just 25 basis point would mean that the Mr. Market has already factored in the hike in its current valuation. After a long time, the FII have started to buy and DII are booking their profits. All the stocks which are in the lower valuation zone, needs to be accumulated. Watch out...
CNX IT - START OF A MEGA BULL RUN ?? Potential pull back area = 28000 / 29000. Accumulate massively in these regions if NIFTY IT were to reach these levels. For long term.
As we have been seeing in the last couple of months, the FIIs have been selling heavy. It has been attributed to many reasons like Fed's policy tightening, Geopolitical instability, etc. Now that the markets have been correcting heavily in the US, the meme stocks, over hyped growth stocks and even TSLA has been taking serious beatings in the market. At the end...
Hitting at CMP Expecting market to move lower Squaring off at the next demand area
In the no trade zone. Enter at pull back. Check for trend confirmation with 1H as well. Expecting the market to move little bullish (exhaustion phase), as its oversold for today ( came to the price two days before ) for sellers pullback at around 17795. Maybe there will be activity in the market at around 1 30 P M.
1. Nifty has been on a selling / down trend in 4H and in D levels. 2. The miniature buy trend that started around 17000 confirmed the trend reversal today by its 1H candle. 3. Two options : IF BUY, - Wait for pullback ( 15 Minutes needs to be engulfed bullish for the pullback to close ) - Entry at the discounted price, the...