Tuesday, October 16, 2012

NIFTY: Got support from 20DSMA slope, short term trend UP

Hi friends, on my yesterdays post I wrote one should short Nifty @ 5660 (spot) with 20-25stop loss, as it was then trading below its 20 DSMA, and BB also showing a probability. But it stopped out and at the end of the day price closed above its 20 DSMA, earlier, when it has broken the level it means  it has absorbed 20 days Demand, but just below the slope of 20 SMA it took support and reversed back which means we are executed by the high skilled professional, and very frankly, almost none of us acted reverse, I mean when it was stopped out we did not act reverse (we did not buy) now a days it is noticed that high skilled professionals are taking their entry zone which is our stop price!! So friends lets chase them and always try to take entry nearer the stop level and always act on reverse side too. By the way here I am trying to give my Nifty view, it will you who will decide what to act and how to act, Nifty will now go to 5758,and above that it my retest its recent high. As per my view Nifty Short Term Trend is UP.

1 comment:

Ruchi Agrawal said...

I agreed that it is an informative post regarding Nifty. Also I like simple and point to point presentation.

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