Nifty 50 Index
v2.1 - Update broken chart due too trading view changes. The global loosening cycle is coming starting with china and soon the Fed in the USA will drop the mirage of tightening conditions. (IMO) Go long in select area with my personal favorite towards commodity exposed value stocks.
CNX500 / Nifty 500 largest domain BMI is revealing a contra story.... One must look at it I feel.
RSI has shown a descending triangle - upward breakout TSI has already given a +ve crossover and now has moved over the 0 line Similar signal in KST Indicator Waiting for action signal on NIFTY500 is must before long entry is made ********************************************************************************************* DISCLAIMER: I am not a SEBI...
It is in 5th of 5th wave until price remains above 13436 and target would be above 14100 approx..
NSE:HINDPETRO is yet to break its own long term trendline. But, its Relative Strength Charts have given an early breakout, potentially for a long term upside. This too in an environment when other PSE and Commodity Stocks are outperforming the index. We have already added long this week in this counter.
Nifty 500 is a large domain index, it tend to guide overall sentiment of the Indian Market. Will be watching it approaching an important support zone twice.
8860 to 8800 will act as good support for border market. It will hold if nifty hold above 10600.
Add ADX with 14 period Add 20 SMA Watch for these to setup trade ADX above 30 level (manually add 30 level) Price above 20 sma Wait for a pullback that touches 20 sma Place a buy stop above the high of the candle that touched the 20 sma Stop Loss below the 20 sma Take Profit up to you TP can be price crossing below 20 sma TP can be a 1 x 2 risk reward ratio TP...