WEEKLY ANALYSIS AND TRADE SETUP- 16 APRIL 2017

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WEEKLY ANALYSIS AND TRADE SETUP- 16 APRIL 2017

Post by AVINASH on Sun Apr 16, 2017 8:55 pm

Weekly analysis of 2nd April mentioned about bullish bias and resistance around 3500 level,
which is currently acting as one obstruction at present.

Now trend on monthly, weekly, daily and 240 min is up but trend line on 240 min is broken and showing over extension.

Which is basis to initiate short trade aggressively around 3460 and at present showing some reaction.  
Price may fall till 3380 where we will cover our short and wait for confirmation to initiate long trade.

OI analysis is not contributory.


Trend Analysis:




OI Data Analysis:




Trade Setup:

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