Nifty goes weak, but volumes have seen a good surge at 98% above average. Daily charts show that it can either give a short trade after a pull back or go straight into a broad sideways range. many stocks have done a good reversal in their prices. Even volumes have supported their moves. Does this mean that the market is getting bullish? Not likely. Higher time frames are still bearish and non-trending. Many long trade signals have already closed with losses, some are available for trade today. As the trade signals come after a high range and volume support, there are bright chances for the continuation of its direction, but there are good probabilities that these signals can reverse. If that happens, it will lead to side ways moves.
NH-NL for today is at 7 new highs and 49 new lows, there is not bullish divergence yet on this index. A divergence. If the market continues its bearish strength, at the reach of previous low levels, there is a likely chance for a bullish divergence on the NH-NL. Such indications will give a very high support for the next long trade on the hourly Nifty.
To make consistent money from trading the markets needs patience and at time it will be boring to stay on wait. But, the rewards that this profession gives its participants is amazing, you need not depend on any one to have your life's dreams come true. You will, you will Make a Living Trading Stocks.
Team BraViSa.
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