Nifty is at the resistance giving contracting triangle.(refer weekly chart)
Supports should emerge from the rising 21 & 34 Hr smas @ 5235-50 zone.
Only a drop below 5214 or 5197 would put this uptrend in jeopardy.
DHEma/WHema should give support for bullishness to continue.
Next major resistance is @ 5349/MHEma.
Supports should emerge from the rising 21 & 34 Hr smas @ 5235-50 zone.
Only a drop below 5214 or 5197 would put this uptrend in jeopardy.
DHEma/WHema should give support for bullishness to continue.
Next major resistance is @ 5349/MHEma.
30 comments:
Goodmorning Family...
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Saravanan
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GOOD MORNING FAMILY.....................
good morning,seniors..
bulls bullying bears..
on a intraday basis, momentum is already on as sell below 5286. B careful. Mrkt has been highly overbought since yesterday.
momentum on da upside picks up only on a sustainence of 5302 spot
“Peace begins with a smile..”
Goodmorning sir and all :)
PS : Don't try to do the above @ Pakistan border
Namaste Ilango Sir and JN Family
Breaking out of the "contracting triangle resistance."
sir how can we confirm that a particular resistance has been taken out
today yahoo not working???
Sir - what is the contracting triangle breakout target?? tks n advance... It's very tough to cross 5306 both the "Big Bs will fight' :( inbetween i am "jamming"
@sujatha what is 5306
@ Sujatha,
Notice that any "lead indicator's midway reversal"(week) or a "reversal after a false break down"(Day) would be considered highly bullish.
Target is difficult to say.
But we could state the immediate resistances: 5342-79.
Once above it, 5500++.
@sujatha,
Moved past 5306.. now the question is whether able to sustain..
As per OI, Bulls pulling it up...
shivanGupta said...
sir how can we confirm that a particular resistance has been taken out.
By the time we get a confirmation, market would have risen much.
Based on the technical study and the evidences supporting a "particular directional move", you make your entries and play along. FII data/ OI data/ VIX are supporting this upmove.
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