Remembering the Mahatma..

Shri Paramahansa Yogananda With Mahatma Gandhi in Wardha:
Mr. Desai led us at once to the writing room where, cross-legged, sat Mahatma Gandhi. Pen in one hand and a scrap of paper in the other, on his face a vast, winning, warm-hearted smile!

"Welcome!" he scribbled in Hindi; it was a Monday, his weekly day of silence.

Nifty ends the week firm..

Nifty Intraday Update

Nifty has completed an intra day correction and poised to head higher, provided 5077NS is protected.
Break of 5077 will weaken it towards 5060-5050.
Staying above 5077 may lead to 5100++.

Nifty Pre market View

The support line extremes for the AM session is @ 4990 and the same is rising into the PM session to 5010. Anything above 5100 should invite profit booking and preferably exit for the weekend.
Trading for the day: One could buy into the weakness around 5020-5030 and exit either @ 5080 or 5100++. And the SL is a fluid 4990-5010.
A. A correction day with 5080 - 5010. OR
B. A mild correction to 5020-5030, followed by a new high...

Nifty's "HH & HL" intact, heads to 5100++

Nifty Intraday Update

As per the chart posted earlier, the "1st" scenario may be playing out.
Targets for the same is likely to be 5100-5150.
An Alternative scenario was posted here.

Nifty Premarket View

As long as 4980 holds for the day, Nifty may attempt to move above 5020, 5035. However, break of 4980 may lead to some short term weakness only. Trade another narrow swinging day. The action may be reserved for the afternoon session with "Half year end-Propping up or redemption pressures"..

Nifty in sideways mode 4900-5035..

As long as the short term trendline is intact, uptrend will continue. If breaks, then it may head towards 20DMA(4860-4880).
The higher highs and higher lows are intact.
A decisive short term move will happen on a break of <>.
A move past 5020 may lead to new highs. Move below 4980 will be weak for the day.

Daily momentum has turned up. It needs to stay above the "High ema" for the continuation of upmove.

Nifty Intraday Update

Aggressive Trade: Exit Longs @ 5003

Nifty Premarket View

Taking the world mkt cues, the shorts need to be closed either at the open or at any minor pull back upto 4980-4990.
The corrective channel resistance comes @ 4994 and the previous swing high comes @ 5005. A move past these may lead to 5025-5035 resistances and then to R3 @ 5055.
Buy into weaknesses as the "weekly trend" remains "UP" and the daily weakness has resulted in just a shallow correction.