Nifty shows negative bias

5 thg 5

The Daily Candle on Nifty on friday was bearish forming a double top with a high at 22775. This is now resistance. Support is at 22100 and above the channel bottom. All stocks were trashed as Nifty formed resistance. Be stock specific, sometime, these kind of days will give good opportunity to enter stocks at 3 to 5% lesser which have inherent positive trend but get trashed with rest of the market. There is a RSI divergence so be careful in the short term, long term positive trend is intact.



This is not a recommendation as i am not qualified to recommend stocks, nor is it my intention. This is for my personal growth and learning and just sharing what i personally observe.

I DO NOT believe in DAY TRADING/MARGIN TRADING, as I am a long term investor, and hold stocks which are part of the Nifty and other stocks mentioned, i hold stocks from 3 to 24 months. It is not my intention to influence the price, but to identify patterns and my study on the technical charts.

Please do not buy/sell based on my view, kindly consultant a SEBI registered, qualified Analyst for your financial decision.

7 thg 5

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today market touched a bottom of 22230, in the next 1-2 candles will we see the buyers come in at the channel bottom of 22100/22120?

9 thg 5

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closed below 22100, beware