Nifty's Pivot is @ 4994 and it is likely to stay above that.
Nifty's R1 @ 5068-With +ve Asian mkts, a gap up should take it there.
Nifty may consolidate in the 5050-5075 area initially.
Nifty's R2 is @ 5108- Nifty may attempt this or 5095 after a prolonged consolidation and weaken thereafter..
If it is the "5" wave & continues:
Nifty, after a gap up to 5068 or thereabout, may consolidate intra in a narrow band and head higher than 5099/5110 either today or tomorrow..
Possibilities & possibilities..never allows you to rest..
9 comments:
sir any new observation or hold long?
sir what is channel support for today?
Dear Ilango,
Again I enetered long very small stake of 1 lot Nifty Call options and market started moving in opposite direction. Sir can I hold the long or exit?
Thanks for guideing
Desperate Trader
Siddu
Hi..Subrat,
As suggested in the morning, Nifty is consolidating from the 5075 resistance. 5025 is a good support. It should head higher one more time even if it is a 4th wave correction continuing.
Real "cross road" point is 5099-5110 area.
Hi..Siddu,
Hold the calls atleast for the next high of the day..You should have seen the "OB" readings of the intra chart..
HI.. ELANGO..
CAN YOU GIVE THE DETAILS OF HOW TO GET HOURLY CHART ON CHARTNEXS SOFTWARE..
THANKS..
MOHAN.K
Hi Ilango sir,
Do u think niftyfuture will have one more high 2day? i feel 5080 is the high for the day.
Hi..Mohan,
For the software feeds, you may need to approach any of the data feed providers. Some broking firms such as "India Bulls" have intra feed and traders have incorporated the data to their software successfully.
I have no further info. on this.
Hi saravana,
As long as the corrections do not go beyond 5040-5025 area, a new high is possible. That is what the TA looks presently.No weakness. No -ve div. But definitely a dip is on.
Hello Ilango sir, as u gave, 5025 is a support area.I bot at 5030.Now wht should be the SL 5025?? or 5010??
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