Tuesday, August 7, 2012

Nifty Pre-Market View.

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.

31 comments:

San said...

Good Morning Ilango Sir and Friends

NIFTY and Reliance Industries Update : CLICK HERE

sanz said...

Goodmorning Family...

Bala said...

Good Morning, Ilango Ji

SANPOT said...

Good Morning Ilango Sir and blog mates.

amber said...

SIR ILANGO JI GOOD MORNING

Parimal said...

Namaste Sir Ilango and all friends
May the Lord grant us right knowledge and PATIENCE
have a nice day

Yash and Dhan said...

Good morning Bogmates.
Have a nice trading day.

Jagan said...

Namaste Ilango Sir And All.

saravanan k said...

Good Morning Ilango Sir & all Blogmates.

Rgds
Saravanan

raman said...

Good Morning to all blogmates..

venkatapathy l said...

Namaste Ilango Sir and fellow bloggers.

LV

parminder said...

master ilango and friends,
good morning to all

meignanavel said...

Good morning to all

Arun kumar sharma said...

good morning sir,Have a nice day

Hari_Hyderabad said...

Good morning master & JN family

Have a nice day !

ALBELA HOUSE said...

R/Ilango sir Namaste n Namaskaar 2 all reader's.

Prithvi said...

GOOD MORNING FAMILY.....................

shiva said...

good morning,seniors..

nifty rider said...

bulls bullying bears..

Unknown said...

on a intraday basis, momentum is already on as sell below 5286. B careful. Mrkt has been highly overbought since yesterday.

Unknown said...

momentum on da upside picks up only on a sustainence of 5302 spot

Sujatha said...

“Peace begins with a smile..”

Goodmorning sir and all :)

PS : Don't try to do the above @ Pakistan border

Prabakar said...

Namaste Ilango Sir and JN Family

Ilango said...

Breaking out of the "contracting triangle resistance."

shivanGupta said...

sir how can we confirm that a particular resistance has been taken out

Sujatha said...

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"

shivanGupta said...

@sujatha what is 5306

Ilango said...

@ 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++.

Prabakar said...

@sujatha,

Moved past 5306.. now the question is whether able to sustain..
As per OI, Bulls pulling it up...

Ilango said...

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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