Nify and SPX both are at the key level again. Fifth day and still stuck in the same range.
Nifty today tried to get peoples stop if they were having tight stops. Before the major move funds try to get your stops (means steal from you if you are high risk taker) because they always try to maximum profit than you. As they say trading is like a big fight and the smarter always try to steal from others. Major stocks are again at the key level. They are either having dojis (in a day trading world its call range day) or very small move. Dojis usually means big fight between bulls and bears and settled at one price. When we see dojis with good volume, usually it means trend change big time.
Looking at this action, I feel good about long positions. One looks to be good at Nifty as well. Good buy point 4753 with tight stop at 4681 cover 4791 (or hold for if you see big volume in major stocks .... as big volume jump at key level means major move ahead waiting).
S&P had very light action as well. This certainly shows lack of participation from big funds here. Again I will only get excited after it crosses 1294. I see many big names touching the highes or right at the resistance. S&P will need big effort to break that resistance level.
Nifty today tried to get peoples stop if they were having tight stops. Before the major move funds try to get your stops (means steal from you if you are high risk taker) because they always try to maximum profit than you. As they say trading is like a big fight and the smarter always try to steal from others. Major stocks are again at the key level. They are either having dojis (in a day trading world its call range day) or very small move. Dojis usually means big fight between bulls and bears and settled at one price. When we see dojis with good volume, usually it means trend change big time.
Looking at this action, I feel good about long positions. One looks to be good at Nifty as well. Good buy point 4753 with tight stop at 4681 cover 4791 (or hold for if you see big volume in major stocks .... as big volume jump at key level means major move ahead waiting).
S&P had very light action as well. This certainly shows lack of participation from big funds here. Again I will only get excited after it crosses 1294. I see many big names touching the highes or right at the resistance. S&P will need big effort to break that resistance level.
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