HOW TO IDENTIFY A TREND
Trend is decided by Dow Theory. Wave Theory will tell the direction clearly. We have to use Fibonacci, trend lines, Indicators and other technical tools for Targets. According to me, Trend lines and Fibonacci is the main tools.
VOLATILITY FOR TWO DAYS
Breakout levels : 7602 spot and 7402 spot.
If goes up in the first hour of the trade selling emerge at high. If goes down in the first hour some serious buying emerge at low. Shall we try this ????? (without technicals)
If you witness a reversal from the above levels sell for the target of 7402 spot. Above 7522 spot we can expect a rally towards 7588-7596 spot. Sell below 7402 spot. Target 7238-7227 and 7167 spot. If you witness a reversal from the 7402 levels then BUY.
Still valid study.
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