BraViSa TempleTree-India Market Calls

[d_s_ramesh]

Speed of value zone movement slows down, which is now at 5332-5353. Hold on to long trade, improvement coming is slow pace. Trendiness drops to 60%.

 

[d_s_ramesh]

Value zone moves up to 5341-5362, market is facing stiff resistance at 5400. Though value zone movement maintains speed of 3 points gain to previous hours, price shows tiredness.

Our weekly call IDEA gets 1st add on filled. Stop moves to 58.90. Also comes out as the leader of the day on the Index stock movement.

Our risk on the open long trade gets narrowed with every incoming hour. The charts formations show continuation of the prevailing bullish trend. Once the daily closing data is published

 

[d_s_ramesh]

NIFTY had a brush of resistance at 5400 today and has closed in the vicinity of highs. Daily chart is trending bullish but is retracing bearish divergence on MACD Histogram and MACD lines. Bull power is negligible while market has moved past the current rally closing high of 5354. There is a likely turnaround in the index moves on the next session.

Hourly chart which had a pretty strong opening into a bullish trend went flat towards closing. MACD lines are yet to retrace any weakness. MACD Histogram holding above zero indicates that bullishness will continue but would be brief. At the closing today, we have 63% trendiness on the NIFTY Index. Value zone has locked much of our open risk on the open long trade.

We will continue to hold our long position as long as our system keeps the signal open. Global markets at present lack any strength towards bullish direction. Is there yet another sideways range move in the markets at the strong resistance levels? Lets watch with patience, while our position works its way through the markets path.

 

[d_s_ramesh]

Resistance adds strength, market is struggling to move ahead but 5350 too is holding strong on the support side. A tight sideways pattern comes to light. Value zone now at 5344-5364, coming closer to our entry levels.

 

[d_s_ramesh]

Back of the bull in the hourly is broken, next move up will be the last leg on the bullish trend. Value zone at 5346-5366. Caution advised!

 

[d_s_ramesh]

Close long below 5363 on NIFTY futures.

 

[d_s_ramesh]

Long trade exits with break even. Current hour close above 5366 will give long trade signal again.

 

[d_s_ramesh]

Long above 5381.50 a futures, with stop of 5341.50. Add on with 10 point increments and move stop accordingly.

 

[d_s_ramesh]

1st add on gets filled, stop moves to 5351.50.

 

[d_s_ramesh]

2nd add on filled, move stop to 5361.50 on futures.