Tuesday, December 5, 2017

morning thoughts...

The markets makes a classic persistent dispenser pattern on daily and weekly charts and gives a sharp indication for 61.8% reverse and inverse head and shoulders retracement in coming session whose velocity will increase in few days
Technically the markets see consolidated phase of range bound trades with intermittent resistances at 39 macd on nifty and bank nifty whereas supports and rests at quarterback levels of last month resistance at 32 macd
The continuous dissertation of pcr and mccvr in derivatives segements indicates accumulation in various reverse pattern call and put options at various out of money strikes in index and stocks
With so many indications the desired move can be witnessed very soon 
Commodities continued to trade weak and subdued with pressure in bullions , base metals and energy