Wednesday, May 21, 2014

Nifty, in its corrective sideways range, tested week pivot & would turn weak below it..


3 comments:

anand said...
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anand said...

Eod : (let me try)!
- In cash segment FII sold again today with DII : FII sold 266 Cr , DII sold 439 Cr

- In FnO , FII bought Index Futures net 264 cr with average price of 7310 for their OI holding.
- OI has increased for NF by 2.33% - 5 Lacs NF added (Shorts added as price fell?)
- NS made lower high, lower low today compared to yesterday...Took support at week pivot which was support indicated by Master in pre-market.

- For tomorrow :
Closing SoR is the rule ? It has been happening for past few days and trading range will give whips to some of us who are still not comfortable with intra-day trades.
Its Near weekend and closing today below Dev Week Pivot.
Tomorrow day pivot : 7250
Contracting triangle and on hrly/30 minutes with flat B going on, can breakdown below 5 DEMA ?
Or breakout above 7300 now ?
Resistances : 7265/68 first = 7290/7300 next ? = 7352 (Critical)
Support : first 5 DEMA of 7211 (Also S1 for tomorrow), then 7190 (recent low) and then let 7131 be breached ... for a C to be done..!

PS :
I confess that I still don't follow rules and ideas strictly...Putting it here to shame myself...!! But lets face this...lets go sane from insanity in our heads...!!
Master bless us all....God Bless him !!

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