Thursday, September 8, 2011

Desi MO (McClellan's oscillator for NSE) at EOD 8th Sep 2011



Posted by r m at 7:08 PM

3 comments:

Shai said...

Thanks RM for the chart.

At +94, The McClellan rule book says a sharp No to new longs at this point and existing longs need to be monitored carefully.

Risk-reward does not favor new longs here.

September 8, 2011 at 7:15 PM
Tarique Anwar said...

Thanks! but don't you feel, Nifty should keep going up with minor corrections (40-50 pts) and correct significantly only after some divergence is created in MO?

September 8, 2011 at 8:04 PM
Shai said...

Tarique,

Divergence is one of the points we look at at major IT bottoms.

The last time MO gave a divergence at 48xx levels.

We tend to use MO more for risk measurement and position sizing. Odds are not good, for new longs here, that is what RM's chart is saying.

Again the data is EOD and for swing traders only.

September 9, 2011 at 9:34 AM

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