Day Trad­ing Guide

The Economic Times - - Smart -

Nifty hov­ers around 8800 for seven straight trad­ing ses­sions form­ing higher high–higher low bullish pat­tern. The fo­cus area should be mid-cap stocks where Nifty 500 is trad­ing around all-time high of 7660. The IT sec­tor should be kept in fo­cus as IT in­dex has com­pleted a “Bullish Three Drive Pat­tern” with above nor­mal vol­umes wit­nessed in the past few weeks. The pat­tern in­di­cates a tar­get of 11500 on the in­dex, which would get the in­dex out of its bear­ish phase. It has made a higher low with a ham­mer on the weekly chart, which is an in­dica­tive sign of a re­ver­sal.

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