Wednesday, February 9, 2011

NSE SPOT  ( HOURLY CHART) EXPECTED BOUNCE TO 5500
nse spot has made high wave candle on daily chart,
means spinning top with extraordrinary long upper n lower shadows ,
(means mkt searching for direction) and very small body, this is the concept for my view of bounce,
LOOK FOR POSITIVE PRICE ACTION (AS ALL OSCILLATORS RSI/ MACD/  STOCHASTICS  SHOWING POSITIVE DIVERGENCE AND  NSE SPOT MADE A LONG HAMMER AT THE
TRENDLINE SUPPORT OF LINE THROUGH 1 AND 3) GO LONG ABOVE 5275
KEEPING A STOP LOSS ANY WHERE NEAR LOWEST LOW NEAR 5225,  CMP 5275



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