Prices have broken the channel.
FII's have sold mildly with gently rising VIX.
Prices suggest of:
a) a major correction is underway from 8180.
b) the minor (4)th wave's "c" unfolding from 8180 to channel bottom's break.
Since the inside day with "2-day low -8126" broken, the ST got tilted to bears and prices have been making series of lower highs & lower lows and unable to retrace above 80% of last fall, the last fall from 8114 being retraced at 8059 & below 8097.
The"downtrend has gained its momentum in day t/f" with prices closing below DLEma after showing signs of exhaustion with -ve divergences".
Bearish scenario has opened up below "8125" & more would be below 8007-22, the 2nd cluster support.
Mild Bullishness returns only above 8060 for the day & more above 8085.
FII's have sold mildly with gently rising VIX.
Prices suggest of:
a) a major correction is underway from 8180.
b) the minor (4)th wave's "c" unfolding from 8180 to channel bottom's break.
Since the inside day with "2-day low -8126" broken, the ST got tilted to bears and prices have been making series of lower highs & lower lows and unable to retrace above 80% of last fall, the last fall from 8114 being retraced at 8059 & below 8097.
The"downtrend has gained its momentum in day t/f" with prices closing below DLEma after showing signs of exhaustion with -ve divergences".
Bearish scenario has opened up below "8125" & more would be below 8007-22, the 2nd cluster support.
Mild Bullishness returns only above 8060 for the day & more above 8085.
13 comments:
Namaste Ilango Sir and blog friends
LV
Good morning illango sir and friends
Guru ji charan vandan
Good Morning Sir & JN Family
Namasthe Master & Blogmates.
Wish all Long life, Good Health, Peace & Wealth.
Good morning master and friends...
@shriram
Please check mail I had sent data to ur mail.
Thanks.
Followers of JNSAR :
Those who have gone SHORT on 11 Sep '14 will remain SHORT till NS crosses 8106.
They may part book once NS goes below 8038.
Those who have gone LONG on 12 Sep '14 must exit LONG & enter fresh LONG once NS is
above 8103 with SL @ 8073.
Those without positions can take LONG positions once NS is above 8103 with SL @ 8073.
NS currently hovering around 8033.
For intraday:
8043 8046 ... is 50%-61.8% retrace of the last fall from …… 8059 to 8026
80% is - 8052
If weakness is to return, it should be around 8043 8046
Strength gets confirmed above 8046 OR 8052
In first 15 trade 8100CE added 661150
9 lac OI added in 8100CE since morning
GM Sir n mates. 50% fibo on BNF is at 16134, of the Rise from 15904 - 16364
New Post Done.
NIFTY SPOT TREND- CONSOLIDATE RES1:8055 RES2:8110 SUPP1:7890 SUPP2:7790 STRATEGY- SELL ON HIGH
Best Nifty Future Tips
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