Friday, July 4, 2014

Nifty Pre-Market View.

FII's have been buying big(last 4 days) after the consolidation with in the major uptrend.
Prices, in the short term, have been closing above two key ST averages.
"Consolidation"completed in a bull flag, prices broke out & have paused & the next upmove started with another gap-up & sustaining;
The ST direction is "biased UP", as long as prices stay above 7690-7707 & 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 7707(3-Hr low), Conservatively Holding above 7658(DEma), uptrend continues....
(iii)rd wave has started from 7623 within which another sub-wave started from 7690.
Any kind of 3rd wave should be followed with patience and following its sub-waves could mislead.
And this could be mitigated with inputs from other studies such as TA/ TT/ OI.

14 comments:

marina s rao said...

GM Master & Blogmates.

Wish all long-life, health, peace and wealth.

DNSHUKLA said...

Good Mng Sir and Friends.

Parminder said...

Master ilango and friends,
good morning to all
regards

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

D.S.SASAN said...

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

Have A Happy Day.

Guru Krishnan said...

Very Good Morning Master and friends.. have a great day ahead!! ...

Sonu said...

GM Master and All!

Have a profitable day...

Ganesh IC said...

Good Morning Sir & JN Family

Hemanth said...

3 hour low protected...can week trend show some impact to break it ;-p

Sonu said...

@satheesh,

Has Tatamotors given breakout? It is now oscillating around 472 level.

Guru Krishnan said...

MID POINT moved to 7694.. (R-7913 s-7474) PCR 0.98 (Bullish) .. looks like any dip will be bought..

shriram said...

GM Master & JN Family,

Option writers r cautious from 2 days.. Have a gr8 trading day !

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