Sridhar's Trading Dairy

sridhga

Well-Known Member
Almost a doji today. The buying however is not likely to last. The spurts in buying today have not lifted volumes for the day significantly. This shows a sign of weakness. Next week being expiry week, I expect BEL to go down from here on. Overall volumes have been coming down during the last month. There is no news that can impact the share on fundamental basis. Big money buying seems to show up just intermittently. I cannot see much upside from here on until this expiry. I may be wrong, however, lets see for next week.
 
Almost a doji today. The buying however is not likely to last. The spurts in buying today have not lifted volumes for the day significantly. This shows a sign of weakness. Next week being expiry week, I expect BEL to go down from here on. Overall volumes have been coming down during the last month. There is no news that can impact the share on fundamental basis. Big money buying seems to show up just intermittently. I cannot see much upside from here on until this expiry. I may be wrong, however, lets see for next week.
Rather, there may be short covering in the last week. Maybe more in the last 2 sessions.
 
Almost a doji today. The buying however is not likely to last. The spurts in buying today have not lifted volumes for the day significantly. This shows a sign of weakness. Next week being expiry week, I expect BEL to go down from here on. Overall volumes have been coming down during the last month. There is no news that can impact the share on fundamental basis. Big money buying seems to show up just intermittently. I cannot see much upside from here on until this expiry. I may be wrong, however, lets see for next week.
Rather, there may be short covering in the last week. Maybe more in the last 2 sessions.
Parallel channel on the monthly chart shows an interesting pattern. Doesn’t look like it’s going to have a runaway spike anytime soon. Until the trend itself gets changed - For which we would need some great news to make a change in the fundamentals.




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