Thursday, 1 February 2018

Trade Setup For Thursday: Top 15 Things You Should Know Before Opening Bell

Posted by suhani varma on Thursday, February 01, 2018 with No comments



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For bulls to regain control of this market, Nifty should reclaim 11,111-11,200 to extend its upmove towards 11,250-11300 levels. A tight stop loss should be kept for all long positions, suggest experts.The Nifty, which started on a muted note, recouped losses but failed to hold on to gains and closed near its opening levels forming an indecisive Doji kind of pattern on the daily candlestick charts.

A 'Doji' is formed when the index opens and then closes approximately around the same level but remain volatile throughout the day which is indicated by its long shadows on either side. The body will be insignificant which will appear like a plus sign on the charts.

It looks like traders preferred to remain on sidelines ahead of the big event, Budget 2018. The index slipped below its crucial short-term moving averages of 5-days exponential moving average (DEMA) which suggest caution.

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