Tuesday, January 7, 2014

Nifty Pre-Market View.

"Sell on Rise" continues; however, prices, having closed above WLEma, the downward momentum is lacking despite prices closing below DLEma for the last 3 days.
But "a pause" would get confirmed only if prices close above DLEma. Till then, downward pressure would continue.
Critical resistances are 6225 & 6247.
Critical supports are 6170 & 6146.
A bearish flag is in progress in the band of "6170-6225."

22 comments:

Hemanth said...

gudmrng Sir and blogmates....have a profitable day :)

venkateshspices said...

Good Morning sir & friends

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

NEVER GIVE UP said...

Good Morning Sir & All Friends.

DNSHUKLA said...

Good Mng Sir and Friends.

shriram said...

GM Master & JN Family,

Have a gr8 day !

Trading For Living! said...

Happy Disciplined Trading!!!

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Shiv Kumar P P said...

Good Morning Master & Friends !!!

Kiran said...

Same story since last few days... Up without much volume and then down....

Nitin Kadam said...

Good morning Master,

If we plot simple 1,2,3,4,5 On daily from ealier low 5118
can we label it as

1st Wave : 5118-6142.50
2nd Wave : 6142.50-5700
3rd Wave : 5700-6342.95
4th Wave :- 6342-5972
5th wave : 5972- 6415
Corrective:
a wave: 6415-6129
b wave :6129-6358
c wave : 6358 to ????

or simply 5th is not yet completed.

Is this Labeling valid?

sudharsan said...

Master said...
@ dharmu mishra,

6171 to 6225 looked a 3 wave.

"b" are complex in general. 6225 to 6176 could be "b" or "(a)" of "b"; hence, suggested a range between "6175-6225". "c" of ii could be truncated or equal @ 6225 or a bit higher.

Remember that "Sell on rise" in progress.

Chandiok said...

GM Sir,
Opened into resistance area and got sold off!

sudharsan said...

@Master "c" of ii could be truncated?????

Ilango said...

@ Nitin Kadam,

1st & 4th are overlapping.

Ilango said...

@ sudharsan,

Yes, "c" could be truncated.

I'm only concerned that the Hour TA does not show similar bearishness.

shriram said...

5waves.. done from 5358

anand said...

Good Morning Master !
Hr Trend heard your voice..:-)

Nitin Kadam said...

@Master ,

Sry for stupid question :P

If time permits put simple wave labeling from 5118.

Thank You!

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