Friday, July 18, 2014

Nifty Pre-Market View.

FII's have started to buy again, after 3 days of minor selling- a consolidation within the major uptrend. Prices, in the short term, have closed above the two key ST averages. (As long as prices close above these, technicals remain strong; only a close/sustaining below it would reverse the ST trend
The ST direction is "biased UP"(But OverBought in Hour T/f but not in Day T/f), as long as prices stay above 7594-7609 & close above these two key averages (21 or 34 hr smas). 
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
Aggressively Holding above 7625(3-Hr Low), Conservatively Holding above 7572-88(Wk.Pivot/ DEma), rally continues....
Aggressively Holding below 7661(61.8%), Conservatively Holding below 7697(Wk.R1), correction could resume....
(Not making the (v)th would make the rise from 7422 as a 3 wave "abc" structure resulting in weakness)

15 comments:

amber said...

Guru ji charan vandan

Magesh Waran said...

good morning illango sir & blog mets

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

vksoni said...

Good morning ilango sir and blogmates

Stockathon said...

Good Morning Sir & Friends...

Asha said...

Good morning Ilango Sir and all the Blog mates!

Guru Krish (Trading Nirvana) said...

Good Morning Master and friends... have a great day..

Any Idea why such discount in price ?? NS open 7630 but NF is 7623.7 and NS low is 7595.5 and NF low is 7587 ???

Suraj said...

Good Morning Ilango Sir and Friends

cooldent said...

Guru Krish

Its monsoon sale

Prakash said...

gudmorning master and all frnds

Ganesh IC said...

Good Morning Sir & JN Family

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