LT - Technical Update

by Dean Market Profile on Monday, April 15, 2013 in LT, Stocks

The weekly chart shows important TL support.
Break down from this TL may result in continuation of downmove.
Early sign of near term mood change to bullish would be a close above 5 WEMA currently @ 1380.

The last leg on the weekly chart lends itself to peculiar TL construction on daily chart.
There is a chance of prices taking that support, and head up.
We have a couple of levels (1387, 1432) which would have to be taken out for this upmove to sustain.

About Dean Market Profile
Dean is a fulltime trader for last 13 years. He is passionate about technical analysis. His instruments of choice are Nifty and banknifty futures and options. His main analysis and trading tools include advanced techniques like Market Profile, Voilume Spread Analysis and Order FLow Analysis. Dean is a teacher at heart and loves sharing his learnings with committed traders. You can check out his courses here...

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Mahender Reddy Pulakandla16 April 2013 at 12:24
Thank you!
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Monday, April 15, 2013

LT - Technical Update

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