Bank nifty could not cross above 100 period moving average in hourly time frame,
Chinese declined consecutively for the 2 nd day
some how its impact is visible in Indian market and others market too.
Hang seng market has crashed below 200 dma.
how far other markets will be untouched it is to be seen now.
In hourly time frame of bank nifty diagonal is appearing as shown in the chart.
Please observe if bank nifty holds on to the 61.8 percent retracement of recent rise
as shown in the chart,if it does not then don't go long.
the way hangseng market has crashed below 200 dma is little bit of concern.
as our markets are trading well above 200 dma.
if other markets react to Chinese factor, reaction may be swift.
Hence time to be little cautious now.
Chinese declined consecutively for the 2 nd day
some how its impact is visible in Indian market and others market too.
Hang seng market has crashed below 200 dma.
how far other markets will be untouched it is to be seen now.
In hourly time frame of bank nifty diagonal is appearing as shown in the chart.
Please observe if bank nifty holds on to the 61.8 percent retracement of recent rise
as shown in the chart,if it does not then don't go long.
the way hangseng market has crashed below 200 dma is little bit of concern.
as our markets are trading well above 200 dma.
if other markets react to Chinese factor, reaction may be swift.
Hence time to be little cautious now.
Komen:
not 100 period moving average in hourly time frame it should be 200 period moving average in hourly time frame
