Nifty resisted again at 2830..to consolidate in 2600 - 2850 before a decisive move..??

Nifty v/s World markets

A comparison of world markets presents a larger 4th wave in progress.
There are a few possibilities:
A. We may trade between 2600 to 2850 for one more week before rallying further...
B. We may clear 2860 in a couple of days & move higher.
C. We may head lower down below 2500 to ???? if we break 2630 & close below that..

Presently,
Hourly...Overbought
Daily....Turning up
Weekly...Trying to turn up..

So., Trade with resistances at 2800-2850 (SL 2865 for shorts) AND
Supports at 2750 - 2720 (SL 2640 for Longs)

Take a decisive call above 2860 & Below 2630.

Nifty clears 2670, Closes ^ 5DEMA and nearing 2830-2860 Resistances

There was buying in other stocks with good volumes..
We are nearing the resistance area of 2835 to 2860..
Last week close 2755...support now..This week high, Low sofar is 2833...2570..
And we are trading near the high of the week. If we manage to close near the highs, that will give a strength to the weekly technicals..

As Nifty has not surpassed the recent high of 2835, there is chance of a sharp fall if any bad news should come in.Action in individual stocks are happening with volume.

Markets can do as it did after touching 3160...Just fell to 2503 non stop..One more day of confident trading is required for this uptrend to gain momentum..

Nifty is squeezed in a 2600-2750 range as of now...Trade till the break happens..

There is a lot of activity..volume based going on in the individual stocks..

Metal stocks have attracted high volume & they are up..

However, Nifty is stuck in a range that is getting narrower by the day..

Bull: A move past 2670 and a close above 2680, 1st step.,break past 2750-next step

Bear: A break below 2630, further breaking 2600.,2570.,2500...2450..??

Nifty bounces off the oversold area with low volume to meet res..@ 2690-2730 area

The fall from 2835 can take the shape of a normal 5-wave structure with the 1st wave already down by 265 points..(Or the 5th is Over??) or an ending diagonal..
Tomorrows trading should give us some clues to it.
2705 & 2734 are the 50% & 61.82% retracements..Markets action at this level and the earlier support as well as today's intra upper range of 2622-2630 will offer some clues..

A must read for all the traders...

Phantom of the Pits....here to enlighten you like no one has ever done..

Read, prepare yourself accordingly and feel the transformation..

Take your own time to read it..dwell on the points raised..jot down the ones that connects with you...Make a programme out of it..

Rahul...should find it quite useful.

And I express my sincere appreciation to the blog owner( Mr.Art Simpson) for sharing such valuable insights with all.

Nifty breaks the channel from 2503 to 2835 decisively..

Market sold off at the critical 2830-2850 area & also broke through the 2690-2710 level and closes below 5 ema decisively. Below 2630, the fall will accelerate.

If there is a bounce off 2630 levels, it may find resistances at 2710-2740 levels.