Tuesday, September 2, 2014

Nifty Pre-Market View.

BN's chart shows a 5th wave progressing with sub ivth to commence.
Hence, protecting the "i"st wave high(Nifty's 7947) is critical for this upmove to make new highs.
Both Hour & Day 9-rsi are in overbought zone with week showing a -ve divergence at the top in "macd chart"(confirmation by this/next week end) and hence, one need to follow the prices with a trailing number. Prices could trade from channel top to channel bottom in a sideways mode.
With the "Trend" intact and Day technicals completing their corrective move, prices resumed their uptrend by holding 7939.
Bearish scenarios open up only below "7895".
Immediate minor resistances are 8034 & 8056.

10 comments:

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

Ilango said...

@ Waquar,

I always combine BN & Nifty to study these hour sub-waves. Nifty showed a clear 3 waves.(From 7968 to 7862) and that cleared the doubt. In the shortest T/F, some sub-waves are not clear and would get hidden in their much lower T/F. This is the only way to deal with them and move on.

Num Char said...

Good morning Sir and JN Team !!

Sir , I always watch your aggressive trade table , and I get amazed every time and probe the reason behind it .

How we reached the number 8056 where as R2 was at 67 , what made you think it 56 is appropriate resistance .

marina s rao said...

GM Master & Blogmates.

Wish all Long Life, Good Health, Peace & Wealth.

vishnu said...

Very Good Morning Master & Blogmates

cooldent said...

sir

last retrace from 8006?

Ganesh IC said...

Good Morning Sir & JN Family

mridul deka said...

Bearish scenarios open up only below "7895".
Immediate minor resistances are 8034 & 8056.

illango sir how do u calculate like this please teach me

Num Char said...

@mridul

Look in to the retrace table and pivot ,support and resistance , you will get half of the answer , other half sir can tell :)
for e.g rise from 9862 to y'day high 8034 , 80% is 7895 , 8034 is week R2 so and forth .

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