All the EMAs are bullishly aligned.
The action today was at 38.2% of the Diwali onwards fall to 17257.
The shortterm Ichimoku -
TS remains below KS, though PA has strongly moved and remains above TS and KS.
All the actions are above the cloud, which is thinning out in the future.
The medium term Ichimoku -
Cloud remains flat, while turning into the future,
KS has not changed direction from the sideways in the cloud.
TS remians below the PA,
CS shows strength out of the cloud.
Williams is at the door of entering OB, but thats way to go. Volatility has inceased slightly.
The range of the day is narrower compared to yesterday. This can open up chances for expansion - eitherside.
The day opening gap remains a gap.
The day candle ends in Doji star.
this deciphers to indeciveness, opening moving up and down, and closing at opening level. Exhibits lack of direction. It may develop to an Evening Star pattern or Darkcloud cover if a red candle develops on Monday [tomorrow being holiday]. Both would be bearish patterns.
Or, it may continue trending up, with no let up.
It would be an interesting opening on Monday, and a trading day, unless market decides to make another non-decisive postponement with a dull low range day.
3 comments:
Thanks for the update,
Fast inspite of holidays.
Watch the twist in the cloud going forward on 3,13,16
And it is no island reversal nor shooting star unless proven next day, as you have pointed.
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