IN CONTINUATION OF EDUCATION SERIES TODAY WE ARE MAKING AN ATTEMPT TO PROVE IMPORTANCE OF 21 EMA.
LAST WEEK ON WEDNESDAY M&M MELTED MORE THAN 5% IN SINGLE TRADING SESSION BUT 21 EMA HAD GIVEN INDICATION ABOUT DOWNSIDE DAY BEFORE..!!!
LETS TRY TO UNDERSTAND THIS VIA DAILY CHART FOR M&M.
LAST WEEK ON WEDNESDAY M&M MELTED MORE THAN 5% IN SINGLE TRADING SESSION BUT 21 EMA HAD GIVEN INDICATION ABOUT DOWNSIDE DAY BEFORE..!!!
LETS TRY TO UNDERSTAND THIS VIA DAILY CHART FOR M&M.
WE CAN SEE THAT IN LAST CANDLE DAILY HIGH TOOK RESISTANCE NEAR TO 21 EMA AND NEXT DAY BEARS ATTACKED AND STOCK CLOSED WITH LOSS OVER 5% OVER ITS PREVIOUS CLOSE...!!!
ALSO WE CAN SEE THAT VOLUMES WERE TOO LOW ON THAT DAY.
WE ALL KNOW THAT IN STRONG UPSIDE MOMENTUM WE NEED VOLUMES TOO AS REVERSAL SIGNAL...!!!
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IN THE END WE WOULD LIKE TO SAY THAT CHART DISCOUNTS EVERY NEXT PROBABLE MOVE BUT IT IS ANALYST WHO HAS TO GRAB IT...!!!
FOR LIVE UPDATE ON INDEX DURING TRADING HOURS PLEASE VISIT OUR FACEBOOK PAGE.
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FOR SUGGESTIONS/QUERIES READER CAN CONTACT US ON NIFTY50STRIKER@GMAIL.COM OR 08866145155.
LIVE UPDATE ON INDEX DURING TRADING HOURS PLEASE VISIT OUR FACEBOOK PAGE.
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