I am not a certified analyst. The charts shown and the content in the blog are for educational purpose only and in no way is a buy or sell recommendation. Readers are advised to use discretion.

Thursday 12 February 2015

Nifty Positional View - 12.02.2015

Positional: Nifty hit an all time high and then a correction of nearly 50% has already completed. Daily Chart suggesting a move up to all time high as-
1) Price moved up after taking support at last Flip
2) Price Closed at last big DP
3) Price closed above MBB
4) OI range is 8600 ~ 9000. Support rising on 8700, but still some more time required.
-- Concern is only the last Fast Downmove, It may act as a fluid or may assess its strength --
for Intraday trades-
1) Mkt has moved from Last Lower Range to higher range.
2) Now Price is at Range low of 2nd Range.
3) For Intraday, i will be looking for an upward bounce from recent DPs til la Strong BOF occurs for downside.
-- Delhi polls are over & today's inflation data can cause a hit down for a small time, till longer tf trend asserts itself --

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