February 18, 2014

Intraday analysis

Today was a nice trend day... the trend was up as nifty took out yesterday's high and we had a nice big bull bar.

Buy signals are as indicated. We had a hit of trailing SL between 1 and 2 pm. This is NOT a sell signal as trend was strongly up and any anti trend is likely to fail.

Subsequently there was selling at 6150F levels. But the swing low is at 6130F and only a close below this would confirm possible change of trend (intraday).

This did not happen today.

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