Compare at your own peril.

A samurai, a very proud warrior, came to see a Zen Master one day. The samurai was very famous, but looking at the beauty of the Master and the Grace of the moment, he suddenly felt inferior.

He said to the Master, "Why am I feeling inferior? Just a moment ago everything was okay. As I entered your court suddenly I felt inferior. I have never felt like that before. I have faced death many times, and I have never felt any fear -- why am I now feeling frightened?"

The Master said, "Wait. When everyone else has gone, I will answer. "

Nifty saves a day/ week to fight another day/ week.

More detailed analysis of Nifty and Bank Nifty may be studied from the files below:

Nifty
Bank Nifty

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty PreMarket View

It is tough to find a trading range once the market starts impulsing. The previous bottom(5690) may give a brief support and the recently breached major average+(100sma @ 5822)may give it resistance.Short term being oversold may produce some intra rallies which will meet with selling pressure.
Just as 35hr D stays in oversold zone for long, the 5day D too may stay down and the 5 week D as well. Only a price reversal & a close above HHEma could bring in some stability and even that need to be followed up.
I have given a bearish scenario and this 3rd wave could extend too or it could pause around 200 ema(5580-5600).
For today, the weekly close is to be watched and if closes below 5802(it could change based on new lows of the day)will signal more downward pressure towards 200sma(5500).
Remember...as long as the prices are closing below "High Ema", it is Sell on rallies until a credible divergence emerges.(There was +ve div in hour rsi but it failed to confirm in prices. More credible ones will be seen in macd and even that need to be confirmed by the price closing above 5-ema).

Nifty breaks below major month support & into its dreaded Third wave.

If you can not take the baby steps into this financial jungle with simple lessons, then you are "perennially" going to be looking for saviours to state "Nostradamus predictions" of the markets and there are dime a dozen of them around who would like to boast of " How they knew all along whats goin' to happen". Few months back there was a worldwide hysteria about "impending crash" but nothing happened.Markets went up 20+% surprising those gullible & pseudo experts.
A reader has been sending me mail regarding "Scientifically arrived Astro predictions" and he has been proved quite right. It is his own study and he has faith in it. However, our system/ methods taught here can be easily followed by anyone which has captured all those big moves.. Should we then boast of 1000 points gain since 11th Nov., just in less than a month..?????
Is that what you are going to "Hang on to".. Then, this blog will never satisfy your thirsts. How long are you going to hang on to these "Cheap advertisers" who appear suddenly leaving their calling cards so that you can become their patron till you become "DRY".
Don't you want to be on your own and achieve results quietly without announcing to the whole world..
Surprise your loved ones with some gifts..do the charitable act that you always wanted to do.. Let that motivate you to be more disciplined..Yes.. Only the discipline will bring you rewards.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty PreMarket View.

Price has corrected 50% of the rally from 5690 to 6069 @ 5880 and the oscillator has completed a trip from Overbought to oversold region and developed a minor positive divergence too. This action of oscillator v/s price move's length suggests that this fall is of "corrective nature" only.

The corrective move from 6069 to 5880 has unfolded in a clear 3 wave form in a channel and this channel resistance comes @ 5925. Trade above yesterday's high,5960, will give short term strength whereas moving past 6001 may reverse the short term trend.
NF channel shows a bit different channel resistances..NF 5960-70 would be a critical zone to cross at the open and thereafter the value comes down.

Nifty, downtrending, closer to the critical monthly channel support @ 5865.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty PreMarket View.

It is possible for another low to be made for the lower band of a corrective range(if that is what going on) around 5920-5935. As long as Nifty is not able to close above any of the High Emas, this pressure will continue and that is "Sell on rises"..
Today's action will more or less confirm the Bull/ Bear possibilities as shown in the chart. As traders you continue to sell near the upper band & buy closer to the lower band and trade the break out.

Nifty finds support at the lower band of the trading band of "5935-6070"..

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty PreMarket View.

In this world of "Business/ trading activity", one should not defy the laws that govern it by carrying out activities without a return. So pay up your fees and let this interaction continue without disturbing those natural laws...
With a negative divergence, the hourly correction has started. If holds above 5960-5970, a counter corrective upmove may unfold to 6020-6045 zone in a choppy way and another round of fall towards 5950/5935 may unfold in 2 days time..This is our anticipation of a corrective scenario keeping the current uptrend in mind. Weekly Ema @ 5956 will be a crucial number that Nifty need to close above that on 10th. That will be the first target for the bears. Whereas Bulls need to close above DHEma(likely to be 6015).
For intradayers., buying zone would be "Between last 2 day's lows-5964-5981" and the selling zone would be HHEma+ 6025/30-6040. TRADE.

J10.SAR traders may get a re-entry chance today with a low risk.