Nifty making new highs periodically but with less momentum - 6042, 6069, 6083,6094.
Nifty continues to make higher lows - 5823,5941,5988,6048.
Corrections have been minor in nature with more time taken in.
There seem to be a "rising wedge" pattern(bearish) in Nifty & BN(more pronounced).
Till it breaches the upper trendline decisively, consider it.
Once breaches, it may be treated as a running correction (bullish).
For the day, look out for the "support line" holding for the "last rise" in this bearish formation.
Nifty continues to make higher lows - 5823,5941,5988,6048.
Corrections have been minor in nature with more time taken in.
There seem to be a "rising wedge" pattern(bearish) in Nifty & BN(more pronounced).
Till it breaches the upper trendline decisively, consider it.
Once breaches, it may be treated as a running correction (bullish).
For the day, look out for the "support line" holding for the "last rise" in this bearish formation.
27 comments:
Good Morning, Ilango Ji
Good morning To all & Sir
Very happy goodmorning ILANGO SIR, & friends. Thanks for pre market view.
GoodMorning Sir and JNFamily !
Good morning Ilango sir & all blogmates
Rgds
Saravanan
Good morning master and seniors..
Good Morning Sir & All Friends.
I believe Nifty is taking on Master's Mantra and getting rich slowly & silently.
Gud morning Master,
Is "net investment" is the thing we generally look for in FII data. should the value go into negative to confirm that FII inflows are stopped?
Could you please write a small piece on how to interpret it, if time permits?
Thank you
Namaste Ilango Sir and fellow bloggers
LV
Namaste Dear Master and all friends
have a nice trading day
Good Morning Ilango Sir and Friends...
Good Mornong Ilango Sir and Blogmates.
good morning all
GM ALL.
@ITFPD: gr8 comment !!
ATR Based Trading Signals
Buy Zone : From 6054.8 to 6041.05
Breakdown below : 6038.3
Breakdown target : 5997.65
Sell Zone : From 6109.8 to 6123.55
Breakout above : 6126.3
Breakout target : 6162.65
Good morning, today's pre-market range is very tight, 6063 to 6080. Time to relax today.
Good Morning Master and copy to All
Good Morning MASTER, DINESH RISHI SIR AND ALL
Gm Master n Blogmates
Good Morning Master and JN Family
Good Morning Ilango Sir and JN Seniors
COAL india support taken at 200days ema ..
Goodmorning ji and all.
Sir ILango ji and everyone good morning
yesterday it was RIL , today it is BN ... won't let markets dip.
Sir
u have given two possibilities in the premarket review as per the internals of the last impulse from 5988 up.
1 a terminal ,bearish wedge
2 a bullish running move
As per my understanding
if it is possibility 1 in play then last wave up from 6065 to 61xx should be retraced faster than it forms
if it is possibility 2 in play then last significant low 6065 should not break.
hence a 6065 becomes a good SAR.
is it ok to interpret ur observation in pattern as per these price values.
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