DISCLAIMER-------->>>THIS IS A NON-PROFESSIONAL BLOG ,SHARING TRADING IDEAS ONLY. NO POSTS ARE TO BE TAKEN AS TRADING RECOMMENDATIONS.VISITORS ARE REQUESTED TO CONSULT THEIR QUALIFIED FINANCIAL ADVISORS FOR SAFE TRADING .
Saturday, July 16, 2011
Its weekend . So I decided to take a look at the Nifty HEAVYWEIGHTS.Its 4t largest in nifty index with 5.96 %weightage.
We see that it has travelled the 50% retracement . 2 times in the near PAST it has tried to climb past it but failed. Also HITTING 2 important TREND lines. Though has rallied for 3 days, STOCHASTICS have not moved and pointing DOWN MOVE. Volume MA shows rally for the past weeks have been on decreasing volume. EXPECTING the stock to move down wards.