NIFTY CLOSED AT 7329.65 ON 28-5-14
Nifty moved in a very short range for last two trading session which indicate a strong move on either side can happen in coming days ,chances are that it may happen today because of the derivatives settlement .Technically some parameters are showing negative divergence on daily chart and indicate that it could break 7252 level on the closing basis and if it does then it may trigger deeper down correction but these divergence should not be viewed in isolation because short term DMA are still intact and placed at 7308/7302 and nifty also made a short closing bottom at 7318 on 27.5.14 ,so be alert in long trades if it goes below 7302 and stays then it will be the first indication of weakness.The negative divergence can only be negated if nifty closes above 7368.DO NOT TRADE WITHOUT STOP LOSS.
REMARKS:-Long term trend is up,volatility is expected because of derivative settlement with a slight downward bias,so trade cautiously.
Nifty moved in a very short range for last two trading session which indicate a strong move on either side can happen in coming days ,chances are that it may happen today because of the derivatives settlement .Technically some parameters are showing negative divergence on daily chart and indicate that it could break 7252 level on the closing basis and if it does then it may trigger deeper down correction but these divergence should not be viewed in isolation because short term DMA are still intact and placed at 7308/7302 and nifty also made a short closing bottom at 7318 on 27.5.14 ,so be alert in long trades if it goes below 7302 and stays then it will be the first indication of weakness.The negative divergence can only be negated if nifty closes above 7368.DO NOT TRADE WITHOUT STOP LOSS.
REMARKS:-Long term trend is up,volatility is expected because of derivative settlement with a slight downward bias,so trade cautiously.
NOTE:-1.PRICE STATED HERE IS OF
SPOT MARKET.
2.RECOMMENDATIONS
ARE VALID TILL THE STOP LOSS IS TRIGGERED.
3.IN FAVORABLE TRADE TRAIL YOUR STOP-LOSSES
FOR MAXIMUM GAIN AND CAPITAL PROTECTION.
Contact me for strategic guidance to enter and
exit the trade
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