Wednesday, July 23, 2014

Nifty gaps up, does a 61.8% retrace & recovers to close at an all-time-high...


13 comments:

Ilango said...

Write your own captions for each of the above charts & TT.

For eg:

Nifty-Day & S.Macd:

Trend indicator, since turning up 5-6 days ago keeps the prices trend higher. There is a -ve divergence developing; hence, key retrace levels/ close above key averages to be actively monitored to manage positions. This being the 1st day of spotting the divergence, it could frustrate traders who aggressively take counter trend positions. Allow the rise to continue, holding key levels/ averages...

Prices holding above DHEma keeps the momentum intact...

mynac said...

Dear D.S.SASAN,
Nifty trading far away from DJNSAR but close to Hr.JNSAR would be the only probable reason for the silence,otherwise, for day traders there would not be any worry,when price is trading above Hr.JNSAR...yesterday's 15 and today's 11 lac NF O.I. addition looks interesting at this point so let us watch the price movement tomorrow...

Ilango said...

Volume based selling was seen in select, key counters...and the prices have come off their highs.

Would be interesting to see Fii data..

Bharat Kumar said...

@ Ilango Sir - I know that this is a silly question, but in the 2nd half of the third chart, what would be the deep red line? Would it be the 9 RSI...?

vksoni said...

Fii cash data
Date Buy Value Sell Value Net Value
23-Jul-2014 ,3652.41 ,3000.01 ,652.4

D.S.SASAN said...

Thank you Mynac Ji.

Ilango said...

@ Bharat Kumar,

Deep redline in the "Nifty-Day & 9-Rsi" chart, is the 80 mark & above , the overbought zone.

The trend indicator chart, the top one is the "Mother chart" and that forms the basis and the other charts are to be read along with it.

Ilango said...

@ vksoni ,

Thank you. Hence, to be read as "part booking" may have commenced...

Raghavendra said...

Dear Ilango sir & All,

Please find my observations on Tech table from Yesterday's EOD - today's price action - Notes for tomorrow. May not be 100% accurate but - would like to make my attempt to reflect on my own understanding and application.

Yesterday EOD - TT was all green ( high - low ema's and day pivot ).

Identifiable resistance cluster was from 7793 to 7819 ( part booking zone ) via Day R1 ( 7793) , Month R1 ( 7794 ), Week HL4 (7812 ) & Day HL4 (7806 ).
Nearest supports at the start of today (pre-market) : 7730 to 7760 via Day pivot ( 7749 ), HHEMA ( 7757 ) , HRLEMA ( 7729), HL4 (7730).

During the day : Prices opened higher - paused between 7790 to 7800 - made new high in resistance zone - pulled back to 7730 to 7760 zone by which DHEMA also moved into the support zone.

Summary : Prices for the day - with TT being 100% UP - completed the hr corrections during intraday - and closed higher for the day.

Bharat Kumar said...

@ Ilango Sir - Looking into the "volumes", can it be said that 'if' a new high doesnot come in a couple of days, a double top has come into play...?

jai bhole said...

hello sir & blogmates



Prabhanshu Raman said...

Prabhanshu Raman said...
@ Prakashbkc, TS may be correcting for the rise from 492 till 572. We observed rising wedge in hour chart and sell triggered at 567 keeping SL at 570.70 with tgts as 552 (aprx) and 537..
July 23, 2014 at 10:04 AM

@Prakashbkc, my apologies T2 was at 149-150 which got almost achieved today, low made was at 550.55

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