Re: Todays Buy Levels
Thanks for your input.....
Being a swing trader its quite critical for me to know how the market behaves in the days to come but iam still quite ambiguous and i have reasons.
1.During the mid - oct correction and early November correction the market took support at 20-day EMA but during mid-nov correction it took support at 50-day EMA...This pattern is extremely important to me as it tells me that the market is taking lower supports while not reaching a new high..
This is one reason why iam moving all my cash positions to stocks that have already reached all time high before the market like SAIL has done today . This helps me in staying with strength....
2.Still the ADX is not giving any clear signals but the volume picture is looking good as the trend of higher volumes on days we close higher is visible atleast in the last 4 days....
For now iam selling partially my trading positions at every rise but building fresh positions or cutting all my existing positions depends upon the picture nifty gives in the coming days....
All said and done even god cant save people who short above 6000 as the last 6 year history tells us that the nifty never stays range-bound for a long time and if it is to give a major break-out it will be on the upside. So lets see......
Thanks for your input.....
Being a swing trader its quite critical for me to know how the market behaves in the days to come but iam still quite ambiguous and i have reasons.
1.During the mid - oct correction and early November correction the market took support at 20-day EMA but during mid-nov correction it took support at 50-day EMA...This pattern is extremely important to me as it tells me that the market is taking lower supports while not reaching a new high..
This is one reason why iam moving all my cash positions to stocks that have already reached all time high before the market like SAIL has done today . This helps me in staying with strength....
2.Still the ADX is not giving any clear signals but the volume picture is looking good as the trend of higher volumes on days we close higher is visible atleast in the last 4 days....
For now iam selling partially my trading positions at every rise but building fresh positions or cutting all my existing positions depends upon the picture nifty gives in the coming days....
All said and done even god cant save people who short above 6000 as the last 6 year history tells us that the nifty never stays range-bound for a long time and if it is to give a major break-out it will be on the upside. So lets see......