Volume Spread Analysis

Reviving the thread after a long time... :D

EOD Observation for the 11th May

As anticipated yesterdays move did not bring in any strength to the market.. Today the weakness was very evident ..though .. the TIPS channels dubbed it as profit booking

The base of the descending triangle proved to a good supply zone.. The 5200 levels would prove a tough nut to crack in the near future.. The momentum is also waning. So in the near future we can expect at the best some side ways moves if not south.. As of now I am exiting my medium term positions though the peak drawdown is much more than I would like :(


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market at resistance. compare to today's up move, volume is low. to cross resistance, volume should have been more as market approaches it to cross it. SM may sell to accumulate more. if tomorrow market does not cross resistance convincingly on closing basis, there is chance of pull back.

this is my view. anyone can correct me.

regards,

Raju
 
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