Most of the Stocks are under pressure of Profit Booking. At the top Evening Star is seen next day's Gap down opening will confirm the trend reversal. In Nifty chart divergence is coming in MACD, RSI, Volume. This means that a correction or consolidation is required to move further. If this Breakout fails and nifty closes below 3150 then a fresh and very swift downtrend will start and it will drag nifty to 2980 and then 2750. If you are in short position then place stop loss at 3310 or if you are in long position then place stop loss at 3150.Monday, April 6, 2009
Nifty is Feeling Pressure Wave 5 (End of Uptrend)
Most of the Stocks are under pressure of Profit Booking. At the top Evening Star is seen next day's Gap down opening will confirm the trend reversal. In Nifty chart divergence is coming in MACD, RSI, Volume. This means that a correction or consolidation is required to move further. If this Breakout fails and nifty closes below 3150 then a fresh and very swift downtrend will start and it will drag nifty to 2980 and then 2750. If you are in short position then place stop loss at 3310 or if you are in long position then place stop loss at 3150.
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