Day Trad­ing Guide

The Economic Times - - Smart -

The in­dex has seen ex­tended time-wise con­sol­i­da­tion with lim­ited price-wise cor­rec­tion high­light­ing the ro­bust price struc­ture. We ex­pect the in­dex to work off short-term over­bought con­di­tions by way of side­ways con­sol­i­da­tion amid stock-spe­cific ac­tion be­fore re­sum­ing the up­ward mo­men­tum to even­tu­ally chal­lenge 2016 high of 8968 in the near term. The lower band of ris­ing chan­nel placed around 8650 re­gion should serve as a trail­ing stop loss for longs.

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