NR 7 developing,
We have to short nifty at 7549 ?
the last hour NS candle range was 22.10 pts , the lowest range for the last 14 candles, i do not know whether this is relevant, in hr frame
Just word of caution to shorts, hrly close is above hr jnsar for 2 last hrs
Dear Ilango Sir,The 5-D stochastic turned up on Wed. and triggered yesterday. With the hourly technicals improving, do you see the weekly trend asserting later today?Thanks
Good Afternoon Ilango Sir,Based on your guidance on 2 EW options 'b' or 'c' running ': Form wise it looks more like a 'b' running. What is your preferred EW view now?
@Raman Kapoor,Since yesterday late afternoon, Nifty is preparing for weekly trend assertion. That is my point of view.
Day Low : 7520.10 Day High : 7560.55 Range : 45 Points Day Pivot : 7550 Hr. Pivot : 7548NS holding HKPC ( Hepta Kilo Penta Cent).Currently hovering above Day Pivot @ 7550.NS in BOD mode in Hr. T/F & SOR in Day T/F.Strength above D Ema @ 7560 & Monday's JNSAR @ 7571 .Weak below D Lema @ 7530.NS below Week Pivot @ 7589 indicating weakness & moving below W Hema @ 7547 more weakness.Will Week trend lifts NS 2 cluster resistance @ 7571-89 for aggressive trades ?Next 2 hours will decide. SOR = Sell Ond Rises.BOD = Buy On Dips.
Dear Ilango Sir & Friends,Major sideways corrections have lasted for 9-10 days in the recent past (6600-6800 and 7200-7400 range). Today is 9th day of sideway/zigzag movement and we can expect either way confirmation today or on Monday. Makes sense?Thanks!
@ Sir , GA .. If NS closes above 21 Hr SMA , with 21 and 34 converging , is it a buy with a SL of 25 points ?
NS Weak below Hr. Lema @ 7530.
Daily parameters such as S.Macd & 9 Rsi are bearish...Prices below 7589 bearish aggressively..
The struggle is to save "7547"-WHEma by bulls..
@Ilango Sir,Do you see a contracting triangle developing in 2 min chart with target close to 7600? Breakout above 7565.Perhaps to complete a 'c' - OI also supports the view with 10lac addition in 7500PEs.
Nifty Spot Inside Bars & Rangehttp://prntscr.com/3unn4p
@ Sonu,That is not a contracting triangle;my only observation is "even the lowest of pre-mkt res @ 7571 has not been reached"..?
And the mkt has answered the question - "underlying technical weakness".
NS breaks W Hema @ 7547.More weakness below Hr. Lema @ 7530.
I haven't answered any EW Q's because "the sideways mkt action and continuing possibility of b-wave" which leads to choppy moves.
@masterat which price we can say "b" over and final "c" down starts....below 7488?thanks.
New Post Done.
Masterdeveloping day low ema for banknifty pls...