After 150 points sharp rise..nifty consolidated on 8th aug. Broke PDL at open and accepted below. Intra trend is bearish here and preferrable trade below PDL is sell at RH. Attempted to break PDL failed before, after news came out sharp fall and reverse followed.
As trend bearish, we can expected PDL offer resistance and wait for BOF signal. Hope i am clear
Plz elaborate on Bear strength comment
ReplyDeleteSrinivas,
DeleteAfter 150 points sharp rise..nifty consolidated on 8th aug. Broke PDL at open and accepted below.
Intra trend is bearish here and preferrable trade below PDL is sell at RH. Attempted to break PDL failed before, after news came out sharp fall and reverse followed.
As trend bearish, we can expected PDL offer resistance and wait for BOF signal.
Hope i am clear
Thanks Rose :)
ReplyDelete