if we look at today's chart , i see a interesting pattern ..we have two big upmove today ..one at 12.25 around 2825 & second at 13.55 around 2860
the similarity between both moves is that just before the upmove market tries to go down but when the downmove doesn't succeed,the market moves upward vigoursly so this is type of failed downmove..the bear tries hard to brake 2800 but when bad IIP can't brake this then bear have to give way & short covering starts..
one more thing .some of our friends may not participate in rally because they can't relate the bad iip no. with this strong upmove .but having knowledge about events is different thing but always trade your charts..when markets broke HOD around 12.40 we just go long irrespective of all the news ..try to listen the market not the newsreaders...
this is just my thoughts sharing with all of you
regards
the similarity between both moves is that just before the upmove market tries to go down but when the downmove doesn't succeed,the market moves upward vigoursly so this is type of failed downmove..the bear tries hard to brake 2800 but when bad IIP can't brake this then bear have to give way & short covering starts..
one more thing .some of our friends may not participate in rally because they can't relate the bad iip no. with this strong upmove .but having knowledge about events is different thing but always trade your charts..when markets broke HOD around 12.40 we just go long irrespective of all the news ..try to listen the market not the newsreaders...
this is just my thoughts sharing with all of you
regards