Thursday, August 7, 2014

Nifty Intraday update-I


Num Char said...

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 .

vksoni said...

5 th down possibility from 7441?

Ilango said...

@ 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..

Ilango said...

@ 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.

Ilango said...

@ vksoni ,

Truncated low at 7652, DLEma...??

Ilango said...

Hourly technicals continue to be "Down"..

Trader Junkie said...

ideally we would love to see a divergence on MACD to complete the 5th ? That might be happening anytime soon !

Trader Junkie said...

Also, 7640 and 7632 are W5EMA and 50% of the rise from 7422 - supports should be placed around this zone is the sense

vksoni said...

look like 2 day low making process going on.

ITradeForProfit Daily said...

If Bears do not breach 7645 and sustain, then a fast rise set up may occur. Lets see.

STOCK4SURE said...

seema a Bullish WW may be developing in NS charts

may have done pt3 near 7641

may do pt4 near 7670 near 12.15pm

pt5 may form near 7630 near 1.45-2.00pm

trgt 7680-90 near eod or tomorrow at open

Ilango said...

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

Ilango said...

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

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