Long or Short Opinion
- Thread starter rajputz
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Hi good Stocks.
Yesterdays Red candle has put a question mark on momentum toward upside of Nagarajuna Construction. Now that can be a further test of supply. Price is standing on the major resistance line. Crossing above 186.5 and closing above 185.40 is must for further up move. Horizontal Resistance above is tested.
As to where the indicators are concerned. This Zlr Occuring near the EMA is the entry point. Cause CCI helps in buying the dip and selling the top.
Stochastic is giving a good hook to upside, but RSI is counter.
Although i dont work on these gartley pattern as they are fake and doesnt work all the time, still Bearish Butterfly has formed.
Above all the indicators can be wrong at any time. But if the stock is bullish then it must close above 185.40 to sustain the move. For last two days it has breached the upper pivot, but failed to close above it. Although the method suggest to enter at trigger at 185.45 with SL at 176.65, but my firm belief of upward move is closing above 185.45.
Closing above the pivot gives atleast two days of bullish move, after that it may enter into sideways movement, if not then it can fall again.
IMO, if at EOD after 3:25 Pm if share closes above 185.40, then buy it.
Yesterdays Red candle has put a question mark on momentum toward upside of Nagarajuna Construction. Now that can be a further test of supply. Price is standing on the major resistance line. Crossing above 186.5 and closing above 185.40 is must for further up move. Horizontal Resistance above is tested.
As to where the indicators are concerned. This Zlr Occuring near the EMA is the entry point. Cause CCI helps in buying the dip and selling the top.
Stochastic is giving a good hook to upside, but RSI is counter.
Although i dont work on these gartley pattern as they are fake and doesnt work all the time, still Bearish Butterfly has formed.
Above all the indicators can be wrong at any time. But if the stock is bullish then it must close above 185.40 to sustain the move. For last two days it has breached the upper pivot, but failed to close above it. Although the method suggest to enter at trigger at 185.45 with SL at 176.65, but my firm belief of upward move is closing above 185.45.
Closing above the pivot gives atleast two days of bullish move, after that it may enter into sideways movement, if not then it can fall again.
IMO, if at EOD after 3:25 Pm if share closes above 185.40, then buy it.
Last edited:
Can some body check, whats going on with maruti with so much good results and nothing bad....with good fundamentals too it is going down. Check NTPC too. Its also not rising. I am attaching a link to todays buisness standard news of Maruti. Please check and comment.
http://www.mediafire.com/?jg1zokmrud0
http://www.mediafire.com/?jg1zokmrud0
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