We have observed a peculiar pattern in Nifty heat map. Both daily and weekly have given 22% negative closing. Normally both have difference values. As the front runners on the index are strong on both time frames, we expect bullishness to continue, but caution is advised. Stops may be tightened, keep close alert for any strong weakness.
Even this week new highs have out numbered new lows, showing strength in the bullish trend of the market. Our New High-New Low index is giving higher highs both on weekly as well as daily. When there is bearish divergence on this index, it shows dearth of bullish power in the market.
At present, market is in the strong hands, enjoy profits.
Happy trading.
No comments:
Post a Comment