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.

Saturday, 31 August 2013

Nifty Weekly Overview starting from 31st Aug 2013


1) The Reversal in any trend always Trap the Novice Traders !!  Two Hammers in Weekly Chart , so can expect a Bounce, if crossed NS 5500.

2) Daily Chart is Still in Downward Channel, so Downtrend Intact.
3) Daily RSI giving a Bullish Divergence signal, where we bought. 


4) Now any break above 5500 is a Positional BUY confirmation with SL of 5412 on Closing Basis.
5) We would love to Go SHORT on Monday/ Tuesday if No Breakout happens,  TGT  5100.

Happy trading !!
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