Nifty Daily chart indicate it is in a consolidation mode, as of now.
The Bollinger Bands moving flat will have to squeeze and open up for any big move upward or downward can happen. Until such time ping pong touching UBB and LBB. Such moves are intraday traders paradise, Stochastic is trying o settle above 80 to become fully bullish and if it has to happen, MACD histogram has to increase its height, The angle of MACD signals does not suggest as of now the Histograms height will be increased.
If we see the same chart in 15 Min. Time Frame, we can see from Feb.15, Nifty is in this range and moving up and down without any clear direction. There the stochastic is above 80, bullish MACD histogram and signals also above 0 Bullish. But can it cross the lines marked above. Until such time this saga of price moving from UBB to MBB or LBB and again to UBB
This post is purely for educational purposes and no recommendation to buy or sell is indented or advised. Traders please take your Financial Advisors recommendations, as this forum and/or the writer of this message will not be responsible in anyway for any losses from such trades.
stochastics is just above 80 now , but looking at overlapping subwaves seems more n more grinding moves...with cautiously bullish stance.
new strength in Banking may attract profit booking in other run up sectors...
yr analysis awesome as usual !
balachennai
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Brilliant sum up of the current scenario,nifty is in.
Lot more to learn .
Thanks Sir
After a long lull in trading view, and with acquired knowledge in recent times, this article provides a good study.
new strength in Banking may attract profit booking in other run up sectors...
yr analysis awesome as usual !