On 2 MAY we have written regarding what will happen with help of few charts, In first chart it has been shown that trendline which is supporting in hourly chart was allready broken, also it has mentioned that 5690-5700 is important support which broken intraday ON 3 MAY, after that nifty fallen upto 5550 within single day. This proves that if you learn technical analysis and try to evaluate the things you can trade very well. This fall is after RBI credit policy which raised interest rates, but if you learn technical analysis there is no need to track the news, what will it's impact on economy, stock market , all this will b reflected in charts. Once again we will like to mention that we are not trading according to this techniques because this will require full monitoring of charts during market hours, and take or change your view according to changes taking place in charts. RIGHT NOW YESTARDAY DAILY CLOSE WAS AT IMPORTANT SUPPORT ONCE AGAIN, SO HERE AGAIN THERE IS POSSIBILITY OF BOUNCE BACK OR BREAKING THE SUPPORT.
What is happened to our first trade? It is still in buy mode according to our system, so the position is in deep loss on paper right now, right now looking possibility of we have to close the position with loss, but this will b done only after our system tells that there is change of trend. REMEMBER THIS SYSTEM IS DEVELOPED SO THAT IT WILL REQUIRE LESS MONITORING,
What is happened to our first trade? It is still in buy mode according to our system, so the position is in deep loss on paper right now, right now looking possibility of we have to close the position with loss, but this will b done only after our system tells that there is change of trend. REMEMBER THIS SYSTEM IS DEVELOPED SO THAT IT WILL REQUIRE LESS MONITORING,
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