Tuesday, June 17, 2014

Nifty's pause extends gains into a reversal mode, needing a follow thru'...


7 comments:

manas trivedi said...

Needing a follow through mean? what we should look for?

Raghavendra said...

@ Manas,

Another strong Bull candle to confirm the reversal on day time frame.

durga said...

@manas trivedi..may mean
nifty has to clear 80 %retracement of fall frm 7679to7488. this retracement can be a sell keeping 80 as sl fr many.. second factor is nifty has formed morning star reversal pattern in day charts.though its not a btm rev,,it cud still act as continuation fr on going trend--this needs follow up actio n..the third factor is retracement fr rise frm 7216to 7700 is having golden ratio at 7401 n 80%at 7313==which is expected by many .. hope yu got the answer.bye

manas trivedi said...

Thank you very much, Durgaji and Raghavendraji

mynac said...

Good Eve..
Today Nifty's 1Min.cash chart shows consistent close above 7630 with high volumes bet. 3.09 PM & 3.30 PM..Avg.range for those 21 minutes was hardly 3-4 points..On the contrary Bulls maintain Nifty close above 7630(almost) from 2.50 PM onwards.. Terrific Hrly.consolidation....
Is it silence before the storm ???

syamala said...

dear mynac
storm in which side ? open interest shows what about this?

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