Wednesday, June 18, 2014

Nifty Pre-Market View.

FII's are net buying consistently during this month except on two minor days.
And prices, in the short term, have closed above two key ST averages.
"Impulsive 3rd wave" seems to be underway with the completion of minor corrections, the current one being "ii"nd sub-wave as long as prices stay above the cluster zone of 7532;
The ST direction is "UP" till prices continue to close above these two key averages (21 or 34 hr smas). Aggressively Holding above 7585, Conservatively Holding above 7560, uptrend continues....
The strategy that has worked consistently well with low risk-high reward ratio is "Initiating a trade at 50%-61.8% retrace with 80% as SL". Adapt to it.
7580-7590, earlier supports & 7560 are two key supports
7674-88 & 7730 are two key resistances today.
(The top boundary line is 7725-35)


J.R.Julius said...

Good Morning Sir & Blog-Mates, Have a Happy & Prosperous Day. ♥
Cámáríllá Key Levels - Nifty Spot
H4@7702 ↑
H3@7667 ↓
L3@7596 ↑

L4@7561 ↓

marina s rao said...

GM Master & Blogmates.

Wish all long life, peace, health & wealth.

root said...

good morning sir.
a significant 5 wave
retraced just short of 38 percent.
the 5 that completed
was retraced 43 percent
shows some upward momentum loss although slight.

DNSHUKLA said...

Good Mng Sir and Friends.

Suraj said...

Good Morning Ilango Sir and Friends

Prakash said...

gudmorning master and all frnds

Ganesh IC said...

Good Morning Sir & JN Family

Prabhanshu Raman said...

GM Sir and Friends.

For further upmove, I believe it has to close above line joining last 2 highs (7700 and 7676) aprx at 7635.20 in 15 mins. Else, down move may start soon

Bharat Kumar said...

@ Chetna - Your views on RCom and Tisco pls!

Sonu said...

GM Master and All!
Decent Resistance developing at 7600CE and 7700CE

Post a Comment