The three candles formed after the huge gapup on Monday - can be considered as Rising Three Methods Candle pattern - if the EOD closing is above 6275 - which is highly bullish.
It is a bullish continuation pattern in which a long white body -
(in this case the huge gap up opening) - is followed by three small body days,
each fully contained within the range of
the high and low of the first day. The fifth day closes at a new high.
| TRADE | STOPLOSS | REASON |
| Aggressive - Sold @ 6310NS | Day HEMA/Hour channel breakdown | |
| Booked at 6280NS | Day channel Bottom/Day LEMA |
Nifty has traded between Day HEMA and Day LEMA.
If EOD close is below Day LEMA, then a positional short can be initiated.
TRADE BOOKED AT 6285NS AND NOT 6280NS.
NIFTY ANALYSIS:
Nifty managed to close above the Day HEMA - but lacks in momentum.
| DAY VALUES | |||
| HIGH | 6362 | 5 EMA | 6286 |
| LOW | 6308 | 5 DMA | 6272 |
| CLOSE | 6333 | 10 DMA | 6210 |
| HI EMA | 6322 | 20 DMA | |
| LEMA | 6263 | 34 Hr MA | 6280 |
Channel Support - 6275 - 6260 near Day LEMA. Nifty is likely to be in a trading mode between Day LEMA and DAY HEMA before a trending move occurs.
| TRADE | STOPLOSS | REASON |
| Aggressive - Sell below 6320 | Hour close above 6330 | Day HEMA/Hour channel breakdown |
| Book out near Day LEMA/channel support |
2 comments:
2.45 PM update is very Nice Mam, Timely predicted and Updated as well.As per technical that we can expect gap up tomorrow.
Thanks Very Much.
Regards,
Bala
Santhosh,
Aggressive trade need not be an intraday trade only. If the SL is not triggered - then it would be carried forward as positional. Aggressive indicates the initiation of trade - aggressively without waiting for EOD confirmation to initiate a trade based on Short term signals - say for eg., based on Hour TF. This helps in initiating trade with small stop loss.
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