look at chart . after along time again we r on verge of forming a higher bottom higher top formation.on closing above 18500 it
will be confirmed. stop loss for long position below 17632 on closing basis. i have attached 2 more charts of past days
observations shared somewhere else.
Yes Pankajbhai, you are right and as I mentioned yesterday, we should break out of the triangle first. I feel we may touch 200 EMA soon and then a real tough resistance would be around 19200. If you join all points from alst 3/4 months and connect them by a slightly oblique line, it passes through 19200 band. (Like you circles on the left side as well few noctes and top on the right side)
ReplyDeleteThe issue today was volumes as they were down from 31C to 21C and that is a significant drop.
Best wishes
LovelyGuy