******Trading system update for NIFTY. (2979)******
~BIAS –positive. (3d HMA- 2964, 3d LMA-2852)
~MOMENTUM – negative but closed above 8d SMA. (3d SMA- 2920, 8d SMA-2978)
~TREND – positive. (8d SMA-2978, 34d SMA-2847)
~Weekly close at 2857.
Ø STRATEGY-
*Positional—long (50% only as momentum still negative)
*stop loss – 3d SMA (50%)-2920.
Ø *SUPPORTS- 2978,2964,2920,2857,2852,2847.
*RESISTANCE-nil.
(our trading system generated short call when nifty closed at 2917 and today generated exit call when nifty closed at 2979……loss of 62 points).
