- Price near golden ratio and the resistance line of a broadening pattern.
- But one has to see that price is yet to show any weakness as can be seen from the 3rd chart. So its important to follow price during such moves to capture maximum points. Especially for those who are long from lower levels its better to have a rising support line or trailing support line and be in trade till they are stopped out.
- VIX is near resistance line. Breakout can give correction to nifty. Nifty need to close at least below 10 Day EMA for some weakness to set in. Till then its better to be with the trend.
Posted by San at 9:52 AM
All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.