Thursday, May 8, 2014

Nifty Pre-Market View.

Prices, in weekly corrective mode has tested WLEma.
There is a 5-waves visible from 6721 to 6643.
And from 6743, it is the 3rd wave completed at 6643.
If prices get restricted at 6689-93(HrJnsar) or 6709.5(21/ 34Hr smas) as the 4th wave(Global cues helping it), another low likely to complete a 5.
Above 6710, the resistance is at 6723(80%). And above 6723, the correction is almost over.
This corrective fall could also take the shape of a 5 sub-waves; hence, monitor the last fall retrace to stay through it.(This alt.label would replace the "a" & "b" to "1" & "2", thus implying a "3"rd in progress)
If gets resisted at 6689-93 or 6705, the critical support is at 6636, MHEma & 6578, 12WEma/50dsma.
Incidentally, yesterday's high,6719, would become tomorrow's JNSAR.

16 comments:

San said...

Good Morning Ilango Sir and Friends

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marina s rao said...

GM Master & Blogmates.

Wish all profitable trading day.

Nilesh Patil said...

Good Morning Master & Friends

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

Prabhanshu Raman said...
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Prabhanshu Raman said...
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amber said...

Guru ji charan vandan and everyone good morning

Prakash said...

gudmorning master and all frnds

POWERTRADE said...

good morning sir and warriors

Raghavendra said...

Ascending triangle pattern in BN on 30 min chart. Pattern depth ~ 225 pts.
Breakout point - closing above 13000 on 30 min chart.

DNSHUKLA said...

Good Mng Sir and Friends.

Pattern Trading said...

Update in hns .. up move still contained in down trending channel

Ganesh IC said...

Good Morning Sir & JN Family

shriram said...

GM Master & JN Family,

10am close > 6655 NS, will trigger 2, 30min candles closes > 1-3-5, the +WW tgts are : 6700 / 6730-50

Have a gr8 trading day !

anand said...

Jai Shriram,
Wolves running Shoulder to Shoulder ! ooops.. head to shoulders !! Interesting !

Seems a small correcitve up from 6643 till 6680 in 3 wave form (sharp C) ends and we are on 5th down..

Ilango said...

New Post Done.

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