Active traders already realize that the short term trend is up. If you are a short term trader, then most momentum methods have given a buy signal, yesterday itself. More interesting is the immediate future: How long will this trend last? Well, in the Nifty, we have minor resistance at 5020 and significant resistance around 5165. These are the two levels where the short term trend can face difficulties. There is the possibility that today may have been the top of a one half day rally. If the market consolidates tomorrow, then a move towards 5020 and higher is possible. Therefore, a buy on dips strategy remains valid until today's low - 4906 holds. This may be considered as short term support.
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3 comments:
respected sir,i have few query and waiting for your response
•How to develop a view on markets each day before we actually start trading
how to identify choppy trend ?
In 2 period RSI what should be upper limit and lower limit we should adjust??and the limit setting in ADX ??
I don't c u these days on ETNOW? holidaying?
Sir ,
I want to invest in Gold and I think GOLDBEES could be a good way to do so .Is this the right time ? I plan to start an SIP and invest a fixed amount every month for 1 year.Please guide me if I am correct or would you recommend anything else or wait for now.
Thank you.
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