Nifty has paused around the 7900 for two days on the back of overbought hour technicals. That is resistances established in the short term.
Now, we need to look out for possible supports. Prices, though breached the 21 hr sma, managed to close above "it" on the back of "avergaing".
Another reliable support is around the 34 hr sma +/-5pts.
Another way of looking for support is whether DHEma less 20 or 30 points hold but this must get completed in the opening session and buying interest should return in the second half, failing which there will be a likely "Sell on rises" signal emerging.
On the other hand, if the 1st session makes highs near resistances or new high, there could be "roll over" pressure....
Once you start to see 3,4, (3), (4)'s, it is trading time..
Now, we need to look out for possible supports. Prices, though breached the 21 hr sma, managed to close above "it" on the back of "avergaing".
Another reliable support is around the 34 hr sma +/-5pts.
Another way of looking for support is whether DHEma less 20 or 30 points hold but this must get completed in the opening session and buying interest should return in the second half, failing which there will be a likely "Sell on rises" signal emerging.
On the other hand, if the 1st session makes highs near resistances or new high, there could be "roll over" pressure....
Once you start to see 3,4, (3), (4)'s, it is trading time..
12 comments:
GM Sir and friends
Good morning
Good Morning Dear Sir, Bros.& Sis's,
Have A Happy Day.
gm ilango sir and blogmates
gudmorning master and all frnds
Good Morning Sir and Friends...
Good morning ilango sir and blogmates...
the last c of a corrective 3 has from 82 to 64 has been retraced in faster time.
GM Master and all!
The truth behind this rise is clear from this chart:
http://www.niftytrader.in
Good Morning Sir & JN Family
Good Mng Sir and Friends.
92 to 64 last fall of c of larger degree 40 min
retraced exactly in same time 40 min
Post a Comment