NIFTY: The Meeting Point - Bearish Meeting Candle
After the V shape, then comes four days of just 75 points move, the first two days 200 points move, and the recent two days 150 points move. In total 300 points up move.
The selected frame posts the bearish meeting candle a perfect one. That does not end there.
The stochastics indicator is showing the overbought conditions, (may stretch in terms of little extra or short timeline). Remember Monday is trading holiday.
The slightly larger picture is in the Trainable, Wedge or Diagonal pattern which ever trend and supply line one chooses and names it.
Hence this Oscillator respects those boundaries and we have seen the perfect reaction from the price action.
Europe cues continue to be red, on the backdrop of what is unfolding in Russia about the sanctions.
To the dismay of many, dollar continues to pounce, irrespective of these noises and some other about Petro dollars. BOJ meeting later in the day.
Commodities give up, softer US data now looks about the softer economic patch, however tech stocks continue to hold while other traditional spaces give up the gains.
Our own WPI index later in the day, markets would look forward looking than the current data.
Focus on the Rupee a better indicator if any. IT shows some promise in this respect.
Ideally 23500 to hold and one move to 23200 or extension to 23060 is very much in the order.
Supply 23430-23460-23480-23505
Support 23330-23285-23230-23180
The selected frame posts the bearish meeting candle a perfect one. That does not end there.
The stochastics indicator is showing the overbought conditions, (may stretch in terms of little extra or short timeline). Remember Monday is trading holiday.
The slightly larger picture is in the Trainable, Wedge or Diagonal pattern which ever trend and supply line one chooses and names it.
Hence this Oscillator respects those boundaries and we have seen the perfect reaction from the price action.
Europe cues continue to be red, on the backdrop of what is unfolding in Russia about the sanctions.
To the dismay of many, dollar continues to pounce, irrespective of these noises and some other about Petro dollars. BOJ meeting later in the day.
Commodities give up, softer US data now looks about the softer economic patch, however tech stocks continue to hold while other traditional spaces give up the gains.
Our own WPI index later in the day, markets would look forward looking than the current data.
Focus on the Rupee a better indicator if any. IT shows some promise in this respect.
Ideally 23500 to hold and one move to 23200 or extension to 23060 is very much in the order.
Supply 23430-23460-23480-23505
Support 23330-23285-23230-23180
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