Thursday, July 31, 2014

Nifty Intraday Update-II


11 comments:

Ilango said...

Corrective flat for yesterday's rise:

a: 7799 to 7769
b: a complex one, likely to conclude soon..
c: to unfold after that...

an irregular "b" making new high would suggest of bullish undercurrent.

In the short term, two views:

7708 to 7799 - a/ i
7799 to xxxxx - b/ ii

Ilango said...

The above view coincides with a "settlement around 7800"..

vishnu said...

Retracement for 7768 to 7791 saved at 7773 (80% )

Squander Star said...

Master

Bank nifty levels pls

Ilango said...

@ Squander Star ,

Aggressively, holding 15430, strength, to be confirmed with a move past 15465 & 15480.

Ilango said...

Conservatively, strength remains as long as 15355 is held.

Ilango said...

7772 7774 ... is 50%-61.8% retrace of the last fall from …… 7784 to 7759

80% is - 7779

If weakness is to return, it should be around 7772 7774

Strength gets confirmed above 7774 OR 7779

Ashish Agarwal said...
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Ashish Agarwal said...

Today is most likely an Inside day to yesterday's upmove, which in itself is bearish. Combine this with Daily and Weekly technicals which are bearish. On adding EW view, whichever way you count 7840 ( as irregular B top or 5th wave top), the downmove should be faster than upmove of 7422 to 7840. Therefore, you are looking at 7400 levels by end of next week.

Please note: The above is only a view. Gets negated above 7840.

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