Wednesday, August 20, 2014

Nifty Pre-Market View.

The fall from 7841 to 7540 was a distinct 3-wave corrective and it is being followed by an impulsive upmove.
It was observed that above 7664-75, market could rally anywhere and it broke past the resisting trendline at 7675 and has climbed so far 250 points.
The reliable 9-Day rsi suggested of a reversal last week from its critical support and prices managed to hold well above 50 dsma.
There was also a fast rise set up noticed between 5 & 50 dsma &amp which has resulted in a sharp rise.
Strength continues above 7820, week pivot. Presently prices seem to move from the channel top to channel bottom..
Minor resistances are in the region of 7927-36 above which 8050-80 in the coming days, holding above 21 & 34 Hr Smas.
(Last rise retrace considered from 7817)

15 comments:

vksoni said...

Good morning ilango sir and blogmates...
Thankyou for pre market view...

Prabhanshu Raman said...

Good Morning Sir and Friends

mynac said...

Simple trading plan for the day:
Yesterday, The last half an hr.trading was concentretaded around NF HVT.
NF Trading above that yesterday's HVT (7907) in the first session,indicates chances of further new top would be there.
Trading below the HVT ,indicates chances of runnig correction would be there...
Let us see.... Bye...

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

ITradeForProfit Daily said...

Bulls need to overcome 7920 else chances of Evening Star formation loom large.

D.S.SASAN said...

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

Have A Happy Day.

DNSHUKLA said...

Good Mng Sir and Friends.

Ganesh IC said...

Good Morning Sir & JN Family

daiyamt said...

@ Mynac

what is HVT ? pl.

ITradeForProfit Daily said...

@daiyamt,

HVT : HIGH VALUE TRADE

Num Char said...

Good morning sir and JN Team !!

@daiyamt

HVT= High Volume Trade

For e.g check this ..first trade volume bar

http://www.nseindia.com/ChartApp/install/charts/mainpage.jsp

deepak pinto said...

irregular flat c on for some down sides in st?

daiyamt said...

@ T F P D , Numchar

Thank you

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