It could pause around 5050, the channel resistance and consolidate. Moving past 5029 will set up the first Higher high. Looking @ Bank Nifty, a consolidation may be in store in 5050 to 4950. Will fine tune it further.
Based on short term TA, I have opted for this labeling, though Nifty is yet to break out of the channel.
26th May confirmed a short term reversal with a close above both DL ema & Dema and by closing above the DHema today, the momentum is with the bulls. Holding 4940 tomorrow would give the "pause for the fall" in the weekly time scale too. A close above 5082 tomorrow would be asking too much from the bulls who may look tired in the morning.
Breadth indicator shows an "advance break out of the channel" - Bullish.
Based on short term TA, I have opted for this labeling, though Nifty is yet to break out of the channel.
26th May confirmed a short term reversal with a close above both DL ema & Dema and by closing above the DHema today, the momentum is with the bulls. Holding 4940 tomorrow would give the "pause for the fall" in the weekly time scale too. A close above 5082 tomorrow would be asking too much from the bulls who may look tired in the morning.
Breadth indicator shows an "advance break out of the channel" - Bullish.
8 comments:
Hi All,
Some aftermints for the evening...
How to Draw a Trendline ;
http://www.smbtraining.com/blog/how-to-draw-a-trendline
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How to Build a Winning Trading Plan;
http://www.tradingmarkets.com/.site/stocks/how_to/articles/How-to-Build-a-Winning-Trading-Plan-79439.cfm
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4 Steps to Mental Toughness for Short Term Traders;
http://club.ino.com/trading/2010/05/4-steps-to-mental-toughness-for-short-term-traders/
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Selective Memory;
http://www.thestockbandit.net/2010/05/26/selective-memory/
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Happy Reading
Cheers!!!
hi llango sir and all Blog friends .... june expir.. close is --- 4988 -- if tomor nifty above 4988 then its bull zone and if nifty trade bellow 4988 then its bear zone .. thanxs Regards ..
Fii sell 533
Dii buy 410
tisco still awaited..
@All,
Here's the link to my EOD comments on my Blog..
happy Trading..Keep winning...
http://indianiftyanalysis.blogspot.com/2010/05/eod-nifty-chart-observation-and.html
@ Manu,
Your Tisco is covered in "Stockwealth".
Your "holding power' & "Steely nerves" will see you
through.
SORRY FOR THE CAPS BUT THIS IS IMPORTANT.
THIS BLOG WAS THE ONLY ONE WHICH SHOWED A CLOSE OF AROUND 5000, MANY WHOM I SHOWED DID NOT BELIEVE THIS, ANYWAY CONGRATULATIONS ON THIS SPOT ON LEVEL FOR TODAYS CLOSE.
dear Ilango,
how do u construct these pivot tables..for the day..
is it once the market opens n based on OHLC?
and how to get excel for this tech table with formulas..like if i enter OHLC it shd give pivots for day week, month, etc..
BDI, and capsize!?
and?
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