BANK NIFTY hovering around imp line 1 and 2
1 forms lower high, on Friday it had formed lower low.
2 closes below 20 dma unable to sustain at high price selling observed,
3 the recent up move from Monday does not appear to be an impulsive move if one checks in hourly time frame.
4 One lesson I had said in my last post that till now this market is not for buying at gap up and selling at gap down.
5 .Bank nifty has to form higher high and higher low to proceed further.
at least it has to take out the high of today in a day or two.
6 simply buying is observed in hourly time frame when stochiastic is in over sold condition
and selling is observed when stochiastic becomes over bought in hourly time frame. (This has been the Mantra . But not a advice to follow.)
this process is going on. Till now Bank nifty appears to be range bound.
People looking for solid move are getting frustrated.
Let us see if it takes out today's high in a day or two.
don't forget to like my post. Follow me to get updates
2 closes below 20 dma unable to sustain at high price selling observed,
3 the recent up move from Monday does not appear to be an impulsive move if one checks in hourly time frame.
4 One lesson I had said in my last post that till now this market is not for buying at gap up and selling at gap down.
5 .Bank nifty has to form higher high and higher low to proceed further.
at least it has to take out the high of today in a day or two.
6 simply buying is observed in hourly time frame when stochiastic is in over sold condition
and selling is observed when stochiastic becomes over bought in hourly time frame. (This has been the Mantra . But not a advice to follow.)
this process is going on. Till now Bank nifty appears to be range bound.
People looking for solid move are getting frustrated.
Let us see if it takes out today's high in a day or two.
don't forget to like my post. Follow me to get updates
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