Manoj's Trading Diary

manojborle

Well-Known Member
#42
Trade Plan for 28th Dec

Demark Trendlines:
Negative reversal in RSI which happened on 1st Dec has target of 7629.

As today is an up close any break above supply line will fail.
If spot nifty opens above 8071 then its a valid breakout with target of 8640.
Buying pressure is above supply line, so breakout above supply line will fail.

There was bullish divergence in RSI and price, the effect was seen today.

ADX has taken support near 25 level and is rising now, however -dmi has crossed ADX which indicates weakness in downtrend.

Tomorrow expect narrow range and failure above supply line if it manages to reach there.

SUPPORT: 7989, 7945, 7918, 7867
RESISTANCE: 8093, 8109, 8137, 8149
 

manojborle

Well-Known Member
#47
Trade Plan for 28th Dec

Demark Trendlines:
Negative reversal in RSI which happened on 1st Dec has target of 7629.

As today is an up close any break above supply line will fail.
If spot nifty opens above 8071 then its a valid breakout with target of 8640.
Buying pressure is above supply line, so breakout above supply line will fail.


There was bullish divergence in RSI and price, the effect was seen today.

ADX has taken support near 25 level and is rising now, however -dmi has crossed ADX which indicates weakness in downtrend.

Tomorrow expect narrow range and failure above supply line if it manages to reach there.

SUPPORT: 7989, 7945, 7918, 7867
RESISTANCE: 8093, 8109, 8137, 8149
As expected Breakout above Supply Line failed and resulted in an inverted hammer on daily.
 

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