Technical hourly chart says... CCI above 100; MACD above, ADX Negative is going in down directon about to cross green...can I understand the logic how do you suggest PUT call.. is it technical call or strategy call...
Indicators on hourly chart will not give full picture, even a consolidation for few hours make indicators vulnerable, Look at Day and Week data and indicators, which shows the real weakness in the scrip , as you asked the reason,I can explain, the big sell candle on the day on 10/8/17 will decide the trend for the scrip, the high of 69.05 and 62.50 will act as support and resistance, since there is lot of selling pressure around 65.5 -66 level, makes me to think, we have to take a put around this point and look for good profit if it reserves from this point, will take the scrip back to 62. Thank you, Hope I can clear your doubt
Technical hourly chart says... CCI above 100; MACD above, ADX Negative is going in down directon about to cross green...can I understand the logic how do you suggest PUT call.. is it technical call or strategy call...
ReplyDeleteIndicators on hourly chart will not give full picture, even a consolidation for few hours make indicators vulnerable, Look at Day and Week data and indicators, which shows the real weakness in the scrip , as you asked the reason,I can explain, the big sell candle on the day on 10/8/17 will decide the trend for the scrip, the high of 69.05 and 62.50 will act as support and resistance, since there is lot of selling pressure around 65.5 -66 level, makes me to think, we have to take a put around this point and look for good profit if it reserves from this point, will take the scrip back to 62.
ReplyDeleteThank you, Hope I can clear your doubt