Short term negative divergences has been kept at bay so far with "intraday dips".
Now with a close below Day High Ema, it warrants a sell on rise. The rise could be 5929 or 5945 or even 5965. This is a small step by the bears. However, the volumes are quite high during the sell off. It could also be due to profit booking and the current uptrend, trading above 5-DEma, could continue higher.
Some topping pattern here..what kind of correction/ fall to follow will be reflected in TT below.
7 comments:
Rama Anuj: We know the above charts are very helpful. Please save your time by not confirming the same.
Nifty Intraday Outlook For 07-April : Market has been overbought and is now moving in a sideways consolidation zone. In coming trading session some healthy correction is expected. But as overall trend is still up so the readers who are holding longs in Nifty, may go on holding till the trend remains up.
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That's well done Sir.
Podhiya aadrav illadhadaal JN chennai chapater othipodha padgirathu...:)
Still Thaliyvar vazga...
Dear Ilango Sir & Blogmates,
Do we see weakness as per Wednesday’s Option Data? Option Analysis 06-04-2011
Thanks & Regards,
Sanjay Kr Jaiswal
Koteeshwararae - Very Soon. Will organise a proper forum. Dayavu seithu Thalaivar padaviyilirundhu neeki vidungal - thondanai irupathil amaithiyum,aarvamum.
Good Night.
kindly see this probability.It is a five leg down move of simple zig zag.they are
6339 to 5690
5690 to 6181
6181 to 5178
5178 to 5608
5608 to 5348 (fifth leg truncated/failure)
B wave starting from 5348, in such case A wave length is 991 and whose fib ratio of 0.6185 comes to 613 and the probable maximum of B wave amplitude is likely to be 5961. ( 5348 + 613= 5961 )
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