Wednesday, September 10, 2014

Nifty Pre-Market View.

Prices resisted at mid channel.
FII's continuing their big purchases with VIX quite subdued.
Prices suggest of
a) the minor (v)th completed at 8180 from either 7862 or 7540.
b) the minor (4)th wave from 8180 is unfolding.
The inside day created a "Two day low at 8126" & breaking the same would tilt the ST to bears..
Though the"Trend regained momentum in day t/f", prices failed to make new highs & thus showed signs of exhaustion.
Mild bearish scenarios open up initially below "8125" & more below 8050.

8 comments:

amber said...

Guru ji charan vandan

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

ITradeForProfit Daily said...

GM Master,

NS opens below DHEma

ak said...

50% retrace supporting till now

Stockathon said...

Good Morning Sir and Friends...

lazydude said...

This market is not going down, even if there is a nuke war.

Num Char said...

Good morning Sir and JN Team



Seeing the wave form looks like abc , is it a considerable possibility that last week from high of 8142 we did a A wave down and then a B wave up till 8180 and then C down as abc ending some where near 61.8 - 80 of B .
At the top its quite confusing if its 5 done or its irreg wave which made a top .
Also seeing huge OI at 8000 which is a considerable support .
Only tricky part is Day Week hour over bought to pull price down but in that case 5 wave down would have been good cue.

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