On closing basis it is very near to the falling trendline / break out level. I expect that the break out on the bar chart as well as on the closing price chart can be simultaneous.
As the chart suggest, traders and investors may consider a close below 2800 only as a stoploss for any medium term long positions held.
(Many a times it is useful to check the closing price / Line charts to get a better idea. Though I regularly do it, I presume this is the first time I have shown it on the blog)
Happy trading !!
CA Rajiv D Khatlawala
Head Research and Training
Jhaveri Securities Ltd.
1 comment:
one good observation..... when markets are near break out... its right time to sell.... Real Bear Market!!!!! Isn't it?
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