Nifty showing signs of weakness

It's a indecisive Dorji candle today, after a red candle yesterday. On a Bearish trend and lower Highs, this could mean weakening of a bounce back. I would go short with a target of previous pivot - 11610 . Next target would be 10225

Giao dịch đang hoạt động:

CORRECTION - Please read 1st target as 10610, not 11610. It's a typo and corrections are apparantly not allowed!

Bình luận:

Hold your horses for some more time, Nifty has risen.

Bình luận:

Nifty has reversed from it's trend line. Wait for trend reversal.

Bình luận:

Nifty has shown strong performance today. But, it has also hit it's major resistance. Let's wait for trend reversal before any action.

Bình luận:

Ok, Nifty has been moving up after showing some signs of weakness. Today also, Nifty has moved but, Advance Decline ratio clearly showed weakness.

We will just stick to our charts and short it only when it shows clear signal of reversal.

Bình luận:

It's a red Dorji today and 2 days of Advance Decline ratio says signs of weakness. Wait for the bearish formation.

So Nifty went a little beyond my expectation. That's why it's important to follow the rules - Trade only on trend confirmation.

Bình luận:

Read above comment of Oct 8, It;s important to follow the rules - Trade only on trend confirmation!

So, it was a red Dorji Oct 8, first sign of weakness. Some would call it bearish. I would rather wait for clear cut bearish trend formation before shorting it.

And then, on Oct 9, it was green candle closing well above Oct 8 Candle! So, wait for trend reversal before trading on Nifty. Till then, there are other trades...

Bình luận:

This has been the third failure of Bears. Will next time Bears will finally win?

Whatever.....

We will trade only on confirmation!