Nifty on the daily chart gives a strong turnaround after a good bullish divergence on its indicators and has given a trend reversal long trade signal today. It has recorded volumes above 25% of its average, which is a good sign of a continuation of the trend. Risk on the trade is quite higher as the range began to increase. We should keep in mind that the weekly chart of Nifty is bearish, so a down tick on the daily is a sell trigger. But, since the daily chart has turned around after a good bullish divergence and volume support, we need to wait for divergence patterns to emerge on the daily to short.
On the 60 minute chart, bullish move has come without any signal. We need to look for a long trade after the swings down to the value zone and ticks up. As the emerging signals do not map one on another, there is a likely chance of the market going into range. But, for us signals are to be traded and not second guessed by keeping risks intact.
As the market turns up, so has many stocks that have given trend reversal buy signals. Check with bttcalls.com to get the entries and exits.
Team BraViSa.
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