Levels and Plan for 17th Aug
The big trend day of Friday came off a MO reading of -71. The McClellan remains by far our best indicator at tipping points to tell us which side the auction is getting driven by emotional players. It helps to manage risk on an existing position as well as prepare for a fierce counter trend […]
Nifty/ BN Weekly View (spot) for 17 Aug- 21 Aug’15
The Nifty tested 8621 on Monday’s open and found sellers who took it almost 300 points lower to 8337 when the MO hit oversold readings of -57 and -71 suggesting risk was increasing for sellers. That produced a 150 point rally on friday to reduce weekly losses. The weekly once again closed over the series […]