No solid engulfs or other confirmation in LTF. Price seeking higher Supply to fill the ample buyers. Its also not a good time to be going long atleast not until we get a pullback to the nearest demand which you have marked. And then we might again get a retest of the highs in a sort of QM. But lets see. So far last EOD kinda is trying to create a False Breakout above the all time high in Reliance
@alphaT Check DLF. Possible candidate to keep in watchlist as Price reached Supply. But have to wait for confirmation esp with the strong consecutive Bull bodies we are seeing in DLF now.
Daily also looks compressed on upside, already knocked out one SZ and at the next one, while forming DZs on it’s way, so yes, time to be very cautious! Could be trend changing scenario on the daily! And it’s also at a QM level. Very tricky situation. Trades only on strict confirmation on LTFs. Watch for PA!
Infy was already tanking from Weekly & Daily SZ. The fall would get stronger now. Big Institutions don’t like scams/uncertainty, sell orderflow is likely! A full MTF analysis is required now, so coming up with the analysis in some time!
Considering the bearish view, we can initiate bear call spread at 750 and 800, to get a credit spread of 19.2k for 2L deployment. Can make adjustments based on movement.
Situation warrents confirmation only trades as said by @ManishAstral and @alphaT !! I would suggest to wait for price to show the way then take position based on confirmation…
@alphaT Thanks!! Shared your video on facebook, you will get viewers n subscribers sure… Bees will come where there is honey! Keep going with the great work!