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
and
7674-88 & 7730 are two key resistances today.
(The top boundary line is 7725-35)
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
and
7674-88 & 7730 are two key resistances today.
(The top boundary line is 7725-35)
11 comments:
Good Morning Sir & Blog-Mates, Have a Happy & Prosperous Day. ♥
-
Cámáríllá Key Levels - Nifty Spot
H4@7702 ↑
H3@7667 ↓
L3@7596 ↑
L4@7561 ↓
GM Master & Blogmates.
Wish all long life, peace, health & wealth.
good morning sir.
a significant 5 wave
7654-6639=925
7564-7216=348
retraced just short of 38 percent.
but
the 5 that completed
7700-7216=484
was retraced 43 percent
shows some upward momentum loss although slight.
Good Mng Sir and Friends.
Good Morning Ilango Sir and Friends
gudmorning master and all frnds
Good Morning Sir & JN Family
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
@ Chetna - Your views on RCom and Tisco pls!
GM Master and All!
Decent Resistance developing at 7600CE and 7700CE
http://www.niftytrader.in/nifty-live-change-in-oi/
New Post Done.
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