Thursday, July 10, 2014

Nifty played "Choppy" in the prepared ground but surrendered to "EOD Technicals"...

The 17 point decline in the closing prices does not "tell" the choppy story that unfolded today....
EOD technicals prevailed; intraday rise became unsustainable.
Prices took support at this trendline, rallied 250 points but could not sustain, suggesting weakness ahead..
This chart stated "Below 7711-26", weakness remains yesterday; and it remained weak...
Weakness returned during the day when prices could not sustain its rise above "7680", week Pivot.

14 comments:

M. said...

Your comments were very very useful today sir. God bless. also hats off to shriram sir, stock4sure, stbstb and some other seniors who are regularly posting comments here, they are very valuable to learner like me.

Prabhanshu Raman said...

What a day. ..and top of that I was calm...drastic change in self from election results day to today. All cz of this blog.
Thank you.
Now who says retracement strategy doesnt work.
Retrace from 7479-7573... it worked
Retrace from 7809-7479... it worked
Infact Sree's trade at 7518 (61.8 of 7442 7593), worked and made high till 7809.

Now why you guys are not coming back and admit that they worked.

Bharat Kumar said...

@ Prabhanshu - Your view about RCom pls!

Prabhanshu Raman said...

Bharat, Rcom bechara marr gaya hai.... duniya idhar se udhar ho gayi but ye gire jaa rahe hain...
What I can say is it might not go below 113.60 and correction going on. You can go long keeping sl at 113.50
113.60 is start of wave 3.
Wave (i) 113.60 157 aprx
Wave (ii) 157 xxxx going on. Its low till now is 123 which is less than 61.8 retrace of wave (i)

msathiya said...

dear friends,
a whipsaw of SAR been dealt here, kindly share your inputs on chart.

https://docs.google.com/spreadsheets/d/1dESqVIu1qLjYFCRiF6nESimLZXLgL03-9PAX1cLCvFI/edit?pli=1#gid=0

thanks

Bharat Kumar said...

@ Prabhanshu - Lol. Thanks! :-)

Prabhanshu Raman said...

After good move in idfc, -ww pattern triggered at 157.70 in 60 mins. Tgts 146 and 127... 1-4 line tgt is at 120.
But if see its chart, ew wise its in 3rd sub wave.
Shri, need your input.

Venkatesh S said...

Hi prabanshu, What is this -ww pattern. Please explain. Learning Nifty trend.

Thanks

dax said...

Raman hi u r worke very well
sir plz explain next move for nifty ?

Rasendra Zala said...

Prabhanshu, IDFC , -WW triggered, 2-4 line target we know but how to derive another target 146 and 127 ?,pl. light on this querry.

Adrian Jose said...
This comment has been removed by the author.
jai bhole said...
This comment has been removed by the author.
jai bhole said...

jai bhole

good night sir & friends

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