My last article on 19th Feb was written with an optimistic note. Out of the five charts which I had explained, 4 of them showed buy signal including my very own SST indicator. And we saw what happened since then. The bears were squeezed out of proportion and we rallied almost 400 points since then in Nifty.
Now there are a few hurdles around 5111 and 5160. Just be cautious around this zone. Once this hurdle is crossed, we might see levels of 5450-5500 in Nifty as well. One more good news for bulls is that SST has just given a weekly BUY signal on charts. Also there is a decent gap between the %D and %K lines on the weekly stochastics, which means that %D needs to do some catch up with %K, before they both stabilize above 80. By the time %D catches up with %K, if NF (Nifty Future) moves to a new high surpassing the previous highs of 5290, then the overall bullish sentiments will grow stronger. If not, then we will do some re-calculations.....
Till then happy trading and investing.......
Now there are a few hurdles around 5111 and 5160. Just be cautious around this zone. Once this hurdle is crossed, we might see levels of 5450-5500 in Nifty as well. One more good news for bulls is that SST has just given a weekly BUY signal on charts. Also there is a decent gap between the %D and %K lines on the weekly stochastics, which means that %D needs to do some catch up with %K, before they both stabilize above 80. By the time %D catches up with %K, if NF (Nifty Future) moves to a new high surpassing the previous highs of 5290, then the overall bullish sentiments will grow stronger. If not, then we will do some re-calculations.....
Till then happy trading and investing.......
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