Monday, September 1, 2014

Nifty Pre-Market View.

BN's chart shows a 4th wave done from 14709(Nifty's 7540) at 15503(Nifty's 7862)with a break of the Hour channel & reversing back into the channel. Hence, holding retrace point of the last rise from 7862 is critical for making a new high.
The fall from 7968 to 7862 was of 3 waves and hence, the retrace could be anything as in a "Flat" or an irregular flat..
With the "Trend" intact and Day technicals completing their corrective move, prices may have resumed their uptrend as long as they hold 7939. If not, the "Flat" correction continues.
Bearish scenarios open up only below "7855".
Immediate minor resistances are 8011 & 8034 .
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Thank you for your prayers and wishes; I feel a lot better.
I'm very grateful to be in your thoughts and prayers.

17 comments:

saravanan k said...

Good morning Ilango sir & blogmates,

Nice to see you back with improved health.

Rgds
Saravanan

Adrian Jose said...

Good morning ilango sir & J N family.

sekhar said...

GM Sir Happy to hear your healthy words

DNSHUKLA said...

Good Mng Sir and Friends.

Sunil Minz said...

Good morning sir
Glad to see you in better feelings regarding health but avoid strain
Have a nice day

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

Nilesh Patil said...

Good Morning Master & Friends

Num Char said...

Goodmorning Sir and JN Team!

Glad to see you sir feeling better .
With gods grace hope sooner you will be perfectly well , healthy and enchanting as usual.

kumar k said...

GM ILango sir and blogmayes.sir feel happy your health improvement

marina s rao said...

GM Master & Blogmates.

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

Rasendra Zala said...

Good Morning Ilango Sir and Friends.

D.S.SASAN said...

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

Have A Happy Day.

Sir, Felt happy to read your improving health.

Ganesh IC said...

Good Morning Sir & JN Family

Hitendra said...

Sir - Considering this is the 5th wave for BN starting at 15503, what would be its target? 17330??

S N said...

Sir / Friends

I would appreciate your experience and practical guidelines on trailing stop loss..Can we have 80 % of last rise as SL ? Thanks.

SN

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