Perspective : The markets is trading in a low volume pocket with a clearly defined support and resistance
Back Ground :-
1) Huge gap between 5325 and 5233 which is a single print seller.
Chart Speak :
1) A neutral day in the markets on Friday
2) Markets moving in the smaller low volume range of the previous move.
3) Defined zones for the movement remain 5085 on the upper side and 4875 on the lower side.
Posts
6 comments:
Shai,
Good observation. I expect Nifty to hold 4870 based on my charting but surprisingly it tallies with your level. I have posted my views and given my levels for today. Just follow this level for a week and you will be surprised and also give me a feedback. It is a simple trading tool but effective for positional Longs or shorts.Today, the level as of now 4950, you will see a slide below 4950 and bounce above 4950. http://www.niftysparks.blogspot.com
any reason you guys can think of this unexpected bounce?
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