When markets fall, many candles touch lower bollinger band
continuously. Primary candle is the last candlestick which touches
the lower band during its fall. It must be noted that the colour of the primary
candle is NOT important, can be green or red. Secondary candle is the one next to primary candle. It
must be a bull candle and close above the previous one. Very important to note
that the secondary candle do not touch the lower band. All these 3 features
indicate that the stock is tending higher taking strong support at bottom.
Trade candle - Initiate the buy/long trade
and place stoploss just below the low of first candle.
Good
Morning and Happy Trading.
A. sent to our clients to sort Nifty Future around 5310. Booked profit at
5278 on Friday.
B. Sms was sent to our clients to Buy Nifty Future at 5263, booked
profit at 5283.
C. Sort L&T at 1399 and booked profit at 1381.
Today’s
1st resistance is 5292. If NF able to breach this level with volume and
stay above 5296--5303 (chances is very rare) minimum 45 minutes then total move
will change. Above this zone we may witness 5436 + levels in next Bull zone.
Today’s
1st support is 5287. Below this level 5255/5252 will be very vital
level. If Nifty Future able to break this level then next very very tough
support is 5230—5227/5226.
If fail to cross 5289 then ??? if take a reverse move from lower level then
???
More reversal points for our
subscribers only.
Kolkata, 06:31 AM 07.10.2012
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