NIFTY gets stronger on the daily charts though with flat volumes, had its highest close in the current rally. Indicators have got strong, but yet to open out into a bullish trend. As the daily chart gets stronger, a possibility of having a high probability long trade in the lower time frame gets even more stronger. On the hourly charts, NIFTY has began to retrace a pretty strong bearish divergence. This would mean that a correction is due any time now, and know what? This correction will be an opportunity for a long trade.
We have been writing about this long trade for quite some time now, readers might have got bored reading the same expectations time and again. But, let me tell you, trading is a boring game if you have the passion to be a winner in the process. Many people take it for the sake of fun, trade almost everyday, loose capital and end up branding the business of trading as a gambling activity. If you have to be a winner, you have to keep tracking your favorite stocks for the right opportunity and take positions. Remember, the animals in the forest too wait for their prey to get weak before they pounce and feast on them. Even if there is a single trade, ensure that all the odds are in your favor, and still there are chances for a loss. So, protect yourself with a clear stop loss.
NH-NL for Tuesday is still in favor of the bears adding more number of new lows. It is interesting to note that when the broad market is in the rally mood, stocks are taking to new lows. The reason was the reversal bar on the previous day, which ensured considerable correction in the stocks, which gave chance for a new low on the weakest ones.
There are a few new long trade signals available on the trend following system, please check into bttcalls.com for the detailed numbers.
Team BraViSa.
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