Monday, September 29, 2014

Nifty Pre-Market View.

Last Week's candle - Hanging man making its presence & having a follow  up from OB zone.
FII's have net sold in the last Seven days, & big on last four days with a rising VIX...
Week has turned down in overbought zone after -ve divergences.
The number quite relevant is "WEma & WHEma" -8005 & 8104, this changes based on this week's high.
Prices are reversing from the weekly channel top towards the channel bottom.
Prices suggest of:
a) a major correction is underway for the rise from 5933 to 8180 with "A" wave completed at 7925 , "B" done at 8160 and "C" is unfolding .
b) the 4th wave unfolding  for the rise from 7422 & was expected to bottom around 7852-62/ 50 dsma (Break of 7841 would negate this view & it just got saved by a point last week)
c) The rise from 7540 to 8180 is undergoing a correction as long as it holds above 7856-62/ 50 dsma.
Bearish scenario opened below "8055"..
Bullish scenario open only above 8025 & 8105.
For intraday, mild strength if holds above 7903-17, or sustaining 7895, 50dsma..
Major support exist at 7856-62break & close below it would lead to next phase of deeper correction.
(Start your independent walk on this trading journey... you must rely on your own first instinct/ intuition/ observation more than anything else...Hopefully, you'll meet a better companion along the way once again...)

12 comments:

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

marina s rao said...

Namasthe Master & Blogmates.

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

ankita said...

good morning master.
is it possible C/a finshed 8160 to 7842 ,
C/b finished 7842 to 7993
C/c in progress from 7993 - **** towards 7671 .

marina s rao said...
This comment has been removed by the author.
Num Char said...

Goodmorning Sir and JN Team !!

This same company will never happen again , more to learn ..long way to go !
Need this company longer than ever.

Sonu said...

GM Master and All!

rj said...

Master said.....

Hopefully, you'll meet a better companion along the way once again...) what does this mean sir not feeling fine , is your health fine , please tell......may god bless you with good health...

Manish said...

Goodmorning master,

You are and you will be there will us all the time.

Raghavendra said...
This comment has been removed by the author.
Raghavendra said...

Good morning Ilango sir and JN mates..

Was in a movie workshop on "thinking about thinking" last week - Introduced to various kinds of cinema from select languages and film types.

One of the films which i liked and must watch is "SAMSARA by Ron Fricke".

Ron took more than 5 years to make this movie and its of the world around us in still images spanning 25 countries ( except 2 scenes which are his creation). In his own words..the move is "non-verbal, guided meditation".

Would suggest you to watch it when you are free...for a stunning visual experience...

Some of the content may be slightly disturbing..and please use your discretion when watching with your family / kids.

Ganesh IC said...

Good Morning Sir & JN Family

Post a Comment