Both the daily NH-NL and weekly NH-NL on the markets have retraced bearish divergence and today there is a down tick on the Nifty. Those traders holding Nifty in long shall liquidate their position below today's low. If tomorrows session is going to have a higher low, exit will be trailed to each previous lows to exit longs.
There are very few stocks that are strong at the moment, among them, AMBUJACEM, HINDUNILVR, SUNPHARMA, ITC etc., stand out. One can look to trade long on these stocks after the pull back to values zone results in good strength on the daily charts. Wait for the stocks to show strength before you initiate longs, there are possibilities of stocks sliding down as the broad markets are loosing momentum.
To know more about using the NH-NL indices to track entry and exit opportunities, please write to admin@bravisatempletree.com.
Happy weekend.
No comments:
Post a Comment