Everytime we make a new top everyone knows we go ahead for retracements. So we are heading you yet another retracements which as you know I always take lows from our historic body low of candles. This setup is again amazing and is giving retracement around 4050 lvls. Hmm so I guess we may see 4100(4100 being a long support line) to 4050 range for the coming days and that retraces our Big Gap up candle by nearly around 50% approx, not bad for profit booking after all Indian investors are getting chance to have some relief after a long time( One year a long time??? ehh) neways they might not be getting the stocks which are valued at 21 k historic highs but still some bottom fishing must have given them some averaging sort of things. All in all coupled with weak globel cues and still some time to form a government 4050 is not so far. Our Dow Jones too falling in a 3 days loosing streak so things are perfect for retracement untill some anouncements from government cheer up the market and may trigger some buying.
Hope you loved reading it.
Happy Trading.
Hope you loved reading it.
Happy Trading.
No comments:
Post a Comment