As stated earlier, 200 DMA would play a crucial role. Now price is trying to go above this significant trend deciding MA.
Price could not manage to hold above 200 DMA which it did 12 times earlier. There is a fundamental reason which not technical analysis can spot. All of a sudden the head of the bank was interrogated by anticorruption agencies if this bank has played a role in regard to PNB scam. Traders were quite cautious. How to deal with such unexpected surprises? Stop loss....
Today price has gone below 200 DMA. Now how to deal with the trade. There is a loss, so one can book the loss or hold with the hope that price may go above 200 DMA again and stay above.
Good to long now.
It is said that holding onto 200 DMA, price can see higher levels. Nifty was down by100 points. Yet this counter is holding onto the said levels as it did for 12 times earlier.
DAILY FINANCIAL WISDOM: The objective is not to buy low and sell high, but to buy high and sell higher..
DAILY FINANCIAL WISDOM: Markets are NEVER wrong, only opinions are...
Tenkan Sen has crossed Kijun Sen it an entry point for investors seeking alpha CAUTION: Risk averse people you may wanna wait till the candle stick position themselves on top of the kumo but don't expect to achieve over and above ROI
Short ICICI around 338 to 340 for 332 with SL of 344
Another possible 2R if it can stay above the resistance breakout...swing trade in my opinion
The stock has taken support at 250 Day (SMA) and has shed large number of shorts. The stock should now make and attenpt to 281 where 21 day SMA stands and this may trigger a strong short covering and long buildup leading to 285 in October series.
Sell Setup :) Keep It Simple, Keep It Unique :) Happy Forex Trading :) Happy Profit Making :)
-long term trend- rising moving averages with strong trend -intermediate trend in positive with relative strength increasing with room to run -intermediate moving average is slightly weakening pulling back into .38 retracement level and where dynamic support is found -volume by price is showing there is volume in this area supporting evidence that shows possible...