Wednesday, October 9, 2013

Nifty Pre-Market View.

There are two possibilities at work:
And they are self explanatory as per the chart.
Immediate support @ 5878-86, 10 Dsma/ 61.8%; Major support @ 5810-26.
ST is weak with prices closing below all High Emas. Trend remains "UP" with prices continuing to close above the respective 5Emas.
For bulls: A larger correction is continuing from 6143 and would get completed only when weekly oscillators complete the cycle.
For Bears: Prices continuing to close below HEmas presently and isn't enough. It must close below LEmas for "momentum to pick up".
It is a consolidation period; a wait & watch period with volatility associated with results season.

24 comments:

Bala C said...


Good Morning, Ilango Ji


NEVER GIVE UP said...

Good Morning Sir & All Friends.

kizar khan said...

Hi Good morning Master/seniors ,

Sir currently we are in which wave b or C

DNSHUKLA said...

Good Mng Sir and Friends.

venkateshspices said...

Good Morning sir & friends

Adrian Jose said...

Good Morning Ilango Sir and Blogmates

Prabhanshu Raman said...

Good morning Sir and friends.

Seniors. . 1 quick query on green coloured Labeling in chart. I understood the red one but not Green one. At 5701 it is marked as 'a', so does it mean we are considering '1' at 6142 and thereafter abc for 2, where a will have 5 waves, b with 3 waves ie (a), (b), (c) and last c with 5 waves again???
Is it correct understanding??

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

amber said...

Sir ILango ji charan vandan and everyone good morning

Ravi Pillai said...

SIR
Good Morning.
Ravi

vksoni said...

Good morning ilango sir and blogmates

kat said...

Good morning Ilango Sir and all the Blog mates!

vk said...

Namaste Guruji.
Vinay.

rama balaji said...

GM Ilangoji & all Blogmates

Sachin said...

Sirji,

Thanks for including the Conservative Trade's back into the TT.

GM all !!!

Regards,

Nilesh Patil said...

Good Morning Master & Friends

Stockathon said...

Good Morning Sir and Friends...

Prakash said...

gudmoring master and all frnds

Trader Junkie said...

markets are bucking the trend , what with global bad news. 5700, 5800 and 5900 already seeing PE interest in the morning...Longs are still in the game !

Good Morning all :)

jvr said...

Good Morning MAster and friends

CHANGE THE LIFE said...

Good Morning Master & all ........

rj said...

Gud morning Master......could you confirm as i am seeing triangle formation in NS of 440 points
BO above 5990 & BD below 5825 .......thanks

shriram said...

GM Master & JN Family,

Have a gr8 day !

Post a Comment