Nifty broke above PDH and spiked. Could not enter on the first pullback as I expected a deeper one. Entered long on second pullback. As expected it channeled. I was expecting the channel till BRN.But it broke BRN and moved up. Now I was looking for a short.I expected a BPB when price broke below BRN.It happened to be a BOF. I was anticipating a BOF of HOD like yesterday. Price could not reach HOD. BRN of Spot Nifty was giving stiff resistance at Nifty Future 5720.Always respect BRN of Nifty Spot and Futures.
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ReplyDeleteObservation... Whenever a the first bar after a Nifty Gap-up is a green bar of decent size, then Nifty continues to move up.
ReplyDeleteBut if the bar following the Gap-up is a red bar, then the direction is unclear.
@ Anon
ReplyDeleteThanks.
@Augu Bhai
Thanks. Helpful observation
Will pay attention to this
ST
will not the color of the bar depend on the interval just wondering?...This goes for all signals too - eg. A short ma may give a buy, but another time frame may give a sell. regards rb
ReplyDeleteRaghu
ReplyDeleteYes. Horizontal Price levels only matter. Everything else is just illusions
St