Good Morning Sir and JN Team Nifty taking intraday support at day open which concides with the golden ratio for the rise from 7595 to 7751 . Also there is hawala , Month Open , week open in this 7640-7660 range .Breaking this would increase the probability of breaching 50dsma .
sir,5 th down possibility from 7441?
sorry from 7741
@ Raman Kapoor,A 5 waves was expected to be completed at open and hence, mild strength above 7665, wk.pivot for intraday traders.80% of last fall came to around 7717 as of yesterday, hence major strength above 7717.These are guiding numbers but to be read along with technicals..
@ vksoni,If kept below 7694 and makes a new low, then it could be taken as a 5-down from 7741 which is a 3-wave fall from 7752.
@ vksoni ,Truncated low at 7652, DLEma...??
Hourly technicals continue to be "Down"..
ideally we would love to see a divergence on MACD to complete the 5th ? That might be happening anytime soon !
Also, 7640 and 7632 are W5EMA and 50% of the rise from 7422 - supports should be placed around this zone is the sense
sir,look like 2 day low making process going on.
If Bears do not breach 7645 and sustain, then a fast rise set up may occur. Lets see.
seema a Bullish WW may be developing in NS chartsmay have done pt3 near 7641may do pt4 near 7670 near 12.15pmpt5 may form near 7630 near 1.45-2.00pmtrgt 7680-90 near eod or tomorrow at open
15014 15032 ... is 38%-50% retrace of the last fall from …… 15105 to 14959 80% is - 15076 If weakness is to return, it should be around 15014 15032 Strength gets confirmed above 15032 OR 15076
7657 7663 ... is 38%-50% retrace of the last fall from …… 7687 to 7639 80% is - 7677 If weakness is to return, it should be around 7657 7663 Strength gets confirmed above 7663 OR 7677
New Post Done.