As Nifty approaches fresh lows on close, volumes have been declining. NH-Nl index is been retracing bullish divergence on the daily. Of course the weekly NH-NL is still bearish, this can mean a small rally on the index before further weakness sets in. 60 minute charts of the Nifty futures has retraced a very strong bullish divergence. Look forward for a good rally on the Nifty and this will take the strong stocks in the market higher to give some reasonable gains before they get weaker.
BEML is one such stock which has been showing resilience to down moves, it has a chance to turn into a bullish trend shortly. Our long trade on UNIONBANK is doing well too. Trade recommendations with risk management and position sizing, with hand holding till trades get exited provided through mail. Write for details to admin@bravisatempletree.com.
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