A close below Previous day's low(5082) is bearish.
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At 2.03PM:(Tech Table updated)
Fall continues below 5087. SL for shorts @ 5101NS.
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At 1.10PM:(Tech Table updated)
Nifty has taken support @ weekly Pivot @ 5087. Fall will accelerate below this.
If it moves past 5113NS, it may trigger a short term buy.
A move past 5132NS, one may need to close all shorts.
Updated at 12.42PM
As marked in the "PreMarket view" chart, Nifty faced resistance @ 5130-5135(Pink) and has fallen and trading below 5118(Daily Pivot).As long as it trades below 5135(Presumed as 2nd wave of the move down from 5161 of Friday), more downsides towards 5065 or lower is possible.
19 comments:
Hi ilango,
GM, what will be aggresive trade for today?
A sell below today's pivot of 5118.
As per EW, closer to 5130-5135 as marked in the chart.
5085-5090 may offer a temperory support and a small bounce is possible.
If the small bounce is restricted to 5118-5125, then a big fall to 5065-5055 is possible.
5135 should be a SL..
can long at 5090 for 30 points?
Dear Sir,
good morning..
It seems that nifty is resisting near 5110?
What will be the ideal level to short?
Dear Ilango,
As you sad, it failed to cross 5118 - 5120 level., Can we expect severe fall now to 5070 level?
Thanks,
Ramesh.
I don't think you are reading the charts properly. Everything is clearly mapped out for you to trade.
It has found a temperory support @ 5080-5085 zone and got resisted @ 5110-5120 zone..Now for the next part..As long as it plays by them, we go along..Once it breaks the critical levels, we should change direction.
Hello Sir,
As per your post Nifty futures found support at 5090 levels and has just reached 5108 levels. Will it be advisable to go short now at these levels with nifty spot pivot at 5118 as stop loss for intra day?
Hi..Sateesh,
I have just updated.
Above 5119NF, it may turn a Buy.
Below 5082NF, fall will resume.
Nifty is in an indecisive stage.
It does show some positive div. in the "5-minute" charts.
okay sir
Excellent explanation sir
ok. great. break below the support now.
Excellent analysis sir. As mentioned in your graph NF reached levelsaround 5060. Sir my doubt is below what levels is the overall uptrend weak. I mean in closing daily basis?
It is trading below 5 avg-5100. A daily close below 5045(20DMA) will be very weak.
Nifty is trading above 5 week avg(4980)..As long as it trades above that treat it as correction.
5-week avg for the current week will be 5020-5030 depending on 11th Dec close. So take the 5 week ema @ 5004. A weekly close below that will be bearish. So it is possible that bears will try to take Nifty to 5000-5020 during intra week.
Is "Moneyvistas" blog is new to your blog? or i missed to see?
Thanks in advance.
Regards
Sir shouldshorts cover around 5050 or hold for 5000?
Plz sugest
Sorry i not see ur update I will maintain the same.
THX
Ilango, advisable to carry home shorts on a close below 5082?
wow...what a close. Now, looking forward to your eod analysis..
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