observations:-
sensex is still making higher high higher low pattern.
trend line from bottom of 15652 still intact.
pace has slowed down.divergence in favour of mid can and small cap stocks can be seen
bcz A/D ratio has started showing positive nos on dn days also.
result calender effects in coming few weeks will be seen.
reliance has started up move again after closing around 1071.
in weekly chart rsi has crossed trend line after a very long time although with -ve divergence.
in weekly chart macd is just testing trigger line. crossover will show positive moves.
in daily chart rsi is still showing -ve divergence.
we are up by nearly 13% from last major bottom of 15652.
stop loss for long positions is at 17337. since we are far away from bottom,
stop loss should be followed strictly. on crossing 17793 stop loss will be revised to next
higher bottom at 17488.
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