- : December 23, 2016
- : Definedge Research
Last closig price: 7985.75
- Nifty dly 10 x 3 P&F chart Pattern: Double Bottom Sell - Bearish
- Nifty Trend (10 SMA): Price Below average - Bearish
- Nifty setup: Bearish
- Nifty 50 1% x 3 Breadth: 17 - Oversold
- Bullish revesal level : 8100 (Low Pole)
Recommended strategy for the day: Be a lazy trader, find strong reasons to trade. Apply quick profit booking strategies.
Risk reward ratio looks not in favour of fresh positional bearish trades.
P&F setups to refer in individual charts: Prefer aggressive exits over riding techniques. Utilise bands, counts and Poles.
Outperforming sectors (based on RS charts): Energy
Underperforming sectors (based on RS charts): Metal, Pharma, PSU bank, Bank Nifty, Pvt bank.
