Thursday, August 7, 2014

Nifty Pre-Market View.

Nifty, in "Trading mode", moved from DHEma (7741) to DLEma (7659)...
The lower most range for the day as per "Trading mode"is DLEma less 30 which is 7639-7609. There is also the rising 50 dsma at 7602 which market have gone near but not touched so far during this rise from 5933.
Nifty has closed above the key ST (20)avg:7670.
Nifty has its key MT(50)avg:7602.
Hour T/A have turned down & prices are heading towards WEma-7628.
Hence, we look for a fall towards , preferably till 7628, below which 7602 or 7595. Holding below 7665, downtrend continues...
It is a trader's market once you have started to see 3's & 4's.
Day technicals continue to be vulnerable with trend indicator having turned down below its trigger and so is Relative Strength Index.
A lower cluster of resistances are seen in the chart below from 7708 to 7723.


herry said...

gd morning sir

It is a trader's market once you have started to see 3's & 4's.
that mins...?

vksoni said...

Good morning ilango sir and blogmates

venkatapathy l said...

Namaste Ilango Sir and blog friends


raman said...

Will someone kindly explain how and why of absurdly high or low nifty quotes one sees in pre-market displays ? Are there trades actually happening at these rates ? If not , what exactly is the purpose of premarket bid or offers ?

ITradeForProfit Daily said...
This comment has been removed by the author.
Ganesh IC said...

Good Morning Sir & JN Family

raman said...

Yes, i checked. But it still does not explain if a trade would take place at 8080 for nifty ! This number could be seen today !

ITradeForProfit Daily said...


It is a process of price discovery. There are no trades happening actually. It is only a measure of order flow that is happening, nothing else.

Before this, the open prices were not reliable enough.

DN Shukla said...

Good Mng Sir and Friends.

deepak pinto said...

In the bear scenario above
The wave (ii) which is of a smaller degree is bigger in price and time than wave II.
Not the waves of cascading degrees behave
Is an observation


these lvls nifty spot or fut

Raman Kapoor said...

Dear Sir,

The pre-mkt mentioned: "keeping below 7665 downtrend continues while the trade table below TT says that below 7717 downtrend continues"
How does one read these two together especially when Nifty is trading between the two levels?


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