OI in Nifty futures still moving around the 22 million mark and VIX is notching up but certainly not reflecting reality of prices!
Today was the 4th consecutive close below the crucial 5032 support and it also marks the weekly close; we may not close above 5032 on Monday also; bulls need to stage a close above 5032 by Tuesday's close or else we can be below 5032 until next Thursday [following the 2-3-5-8 sequence]
Critical Levels and Outlook remain unchanged from previous posts; [the updated charts in yesterday's post should be self explanatory]
Enjoy the weekend and I will catch up with you on Monday EOD. Hope the shopping carts are active for delivery based buying - all seasoned hands always keep harping 'Buy Fear, Sell Greed and adhere to Stop Losses' but we fail to pull the trigger on all 3 signals most often than not :D
Today was the 4th consecutive close below the crucial 5032 support and it also marks the weekly close; we may not close above 5032 on Monday also; bulls need to stage a close above 5032 by Tuesday's close or else we can be below 5032 until next Thursday [following the 2-3-5-8 sequence]
Critical Levels and Outlook remain unchanged from previous posts; [the updated charts in yesterday's post should be self explanatory]
Enjoy the weekend and I will catch up with you on Monday EOD. Hope the shopping carts are active for delivery based buying - all seasoned hands always keep harping 'Buy Fear, Sell Greed and adhere to Stop Losses' but we fail to pull the trigger on all 3 signals most often than not :D
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