Clear negative day that formed a shaven top red candle.
Sideways tight range points movement, forming a lower high, higher low inside day.
Short term moving averages continue to fall,
while longer term moving averages keep the slight up gradient.
It causes slow convergence.
All major medium and shortterm moving averages are above the price line, denoting bearishness,
especially the 200ema and 200sma.
Only the moving averages of days more than 300 are below the price,
showing the medium term bearishness is extending to longer term direction.
Completely bearish now.
PA is below TS, and TS is below KS, and all below the cloud where spanA is already below B.
Future twist is also with a downward thinner profile turning sideways finally.
CS is sideways and negative.
In medium parameters -
cloud is resisting,
all params are in mildly bearish to bearish.
KS alone is above kumo, and is sideways, about to test support spana.
By both terms, the cloud will be immediate resistance,
and Friday's situation continues,
that changing of negative trend is only when trades above cloud convincingly,
with PA, TS, KS, Kumo in alignment.
But for 3, the Sensex scrips were in Red to Deep Red,
Advance Decline is 4 : 26
The Healthcare and ConsumerDurables secotors closed in Green,
the rest of the sectors are in Red.
Overall Advance Decline in BSE is 1052 : 1713 : 134, that is 3 : 5 advance : decline
FII Nett is marginal Positive - purchase of 47 crores. [provisional data, BSE]
1 comment:
but for 3, all sensex stocks are in deep red.
thanks for quick analysis
seems to be time for bottom fishing in individual stocks
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