Expecting bounce tomorrow. Would like to see Nifty breaking previous low of 9017 first and then start moving UP.
- First – Nifty to go below 9017 (Would like to see this but Nifty may decide not to agree with me)
- This should show bulish divergence in hourly RSI
- Aggressive Trader – Thereafter get ready for entry. Play on 34 EMA, 5 min chart. When Price moves above 34 EMA in 5 min, enter long position. Stop loss could again be 34 EMA or tomorrow’s HOURLY LOW
- Conservative Trader – can enter on break of RED trend line
Lets see if this setup gets build up tomorrow or have to wait more