Tuesday, July 22, 2014

Nifty Pre-Market View.

FII's have been buying again for the last 4 days, after 3 days of minor selling- a resumption of 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 & in Day T/f), as long as prices stay above 7622-7637 & 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 7675(2-Hr Low), Conservatively Holding above 7637(DEma), rally continues....
Aggressively Holding below 7714(minor 80%), Conservatively Holding below 7732(80%), correction could continue....
(EW wise, 7459 to 7722 may be considered as a 5 and thus another 5 is possible from either from 7675 or from 7644-59)


9 comments:

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

marina s rao said...

GM Master & Blogmates.

Wish all peaceful life - Aakash

vksoni said...

Good morning ilango sir and blogmates

Asha said...

Good morning Ilango Sir and all the Blog mates!

Sandeep Koppula said...
This comment has been removed by the author.
Ganesh IC said...

Good Morning Sir & JN Family

D.S.SASAN said...

Good Morning Dear Sir, Bros. & Sis's,

Have A Happy Day.

Prakash said...

gudmorning master and all frnds

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