Monday, July 28, 2014

Nifty Pre-Market View.

FII's have been buying again for the last 7 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", as long as prices stay above 7763 & 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 7763-68(2 Hr Low/ 61.8% of last rise), Conservatively Holding above 7734(likely JNSAR), uptrend continues....
Aggressively Holding below 7829, correction could resume....
(EW wise, holding 61.8% retrace held at 7768, vth wave could unfold...)


11 comments:

BangaloreCash said...

Good Morning Master and All.

Prabhanshu Raman said...

GM Sir and Friends.
Analysis on SBIN, IDFC, NIFTY & GOLD M: Click Here

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

Prakash said...

gudmorning master and all frnds

Suraj said...

Good Morning Ilango Sir and Friends

D.S.SASAN said...

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

Have A Happy Day.

DNSHUKLA said...

Good Mng Master and Friends

Ganesh IC said...

Good Morning Sir & JN Family

Manish said...

Goodmorning master and all friends

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