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Scholars and scientists, including Albert Einstein and Orville Wright thought enough of Jimmy Yen to vote him one of the top ten Modern Revolutionaries of the Twentieth Century. Yet all he did was teach Chinese peasants to read.

What made that so amazing was that for four thousand years reading and writing in China was only done by the Scholars. "Everybody" knew, including the peasants themselves, that peasants were incapable of learning.

That thoroughly ingrained cultural belief was Jimmy Yen's first impossible barrier. The second barrier was the Chinese language itself, consisting of 40,000 characters, each character signifying a different word! The third barrier was the lack of technology and good roads. How could Jimmy Yen reach the 350 million peasants in China?

Nifty resisted at the channel again.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty PreMarket View.

Nifty took the "U-turn" from the cluster support envisaged and it is entering the resistance zone of 5935-5965 once again. If resisted again, bull's strength will be tested once again. It could pause and holding above 5860, attempt to move higher. 5860 - 5965 would give an early lead to the next phase of the market.
As per short term EW study, holding above either 5892NF or 5916NF are essential for the immediate rises. Failure would be considered weak in the short term.

Nifty reverses from closer to 200sma & ends at channel top again.

Technical Analysis of "Infosys Tech".

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty PreMarket View.

Correcting Nifty coming closer to Day:S2; Week S2 @ 5746 below which the 200sma is @ 5721-25. Booking profits (Parts..!)on shorts considering the oversold Hour TA.
A word of caution would be the truncated week with the prospect of closing below 5795-(Weekly High Ema) which would turn off the weekly momentum and indicate a sell on rises.

If there is a reversal to this correction, it should emerge from here @ 5720-5745, failing which the control would shift to bears.

Happy RamNavami

Sri-Ramnavami is dedicated to the memory of Lord Rama. It occurs on the ninth day (navami). The festival commemorates the birth of Rama who is remembered for his preperous and righteous reign. Ramrajya (the reign of Rama) has become synonymous with a period of peace and prosperity. Mahatma Gandhi also used this term to describe how, according to him, India should be after independence.

Sri Ramnavami occurs at the beginning of summer when the sun has started moving nearer to the northern hemisphere. The Sun is considered to be the progenitor of Rama's dynasty which is called the Sun dynasty (Raghukula or Raghuvamsa, Raghu means Sun and Kula or Vamsa mean familial descendant). Rama is also known as Raghunatha, Raghupati, Raghavendra etc. That all these names begin with the prefix Raghu is also suggestive of some link with Sun-worship. The hour chosen for the observance of the lord's birth is that when the sun is overhead and is at its maximum brilliance. In some Hindu sects, prayers on Ramnavami day start not with an invocation to Rama but to Surya (sun). Again the syllable Ra is used in the word to describe the sun and brilliance in many languages. In Sanskrit, Ravi and Ravindra mean Sun.
Aum Shree Rama Jayam..

Aum Shree Rama Jayam...

Aum Shree Rama Jayam.

Nifty drifts down below DLEma towards 200sma.

As 5sma is poised to move below 10sma, any pull back towards these @ 5840-5865 would invite selling pressure. Oversold Hourly might induce intraday rally if external cues are favourable.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty PreMarket View.

Short trem is weak and nearing Oversold zone. Longs would be safe above 200sma-5718 (38% retrace)above which price cluster support exists. Nifty needs to trade & close above Pivots to bring strength back. Incidentally, the pivot is the same as 5DEma.
I have shown an excel sheet with relevant numbers for day trading to monitor price behaviour at various points during the day. Traders with software may draw such lines with different colours to alert them of possible support/ resistances as well as Pivot points to facilitate trading.