'O'
(Bears) in control!!
Figure 1 is 10 box P&F chart plotted with daily closing prices.
Date: 30th
August 2015
Nifty last closing price: 8001.95
Nifty last closing price: 8001.95
Daily chart (Medium - Intermediate trend)
Figure 1 is 10 box P&F chart plotted with daily closing prices.
·
Last Pattern: Double Bottom Sell (Bearish)
·
Last Column: Bullish
·
45 degree trend: Bearish
·
Active counts: 7760, 7480
·
Short exit level: 8155
Short exit level is marked at 8155 at the moment
being mid value of long column of that will trigger low pole. However same will
be trailed down with every new 'O'.
1 Min Chart (Short term trend)
Figure 2 is 5 box P&F chart plotted
with closing prices of every minute. 7865 - 7675 are areas to watch in the
lower side. 8050 and 8125 are key resistance areas where fresh short positions
can be built.
Figure 3 is X-Percent P&F Breadth indicator of
Nifty 50. It has come back to neutral zone of 60% indicating affordable setup
for bearish traders who are looking for opportunity.
- Prashant Shah, CMT, CFTe
Disclaimer:
All information provided above is for general information purposes only and does not constitute any investment advice. The readers of this material should take their own professional advice before acting on this information.
All information provided above is for general information purposes only and does not constitute any investment advice. The readers of this material should take their own professional advice before acting on this information.
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