Wednesday, September 3, 2014

Nifty Pre-Market View.

Protecting the "i"st wave high(8022) 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 are trending up in the middle part of the channel.
With the "Trend" intact, prices would continue their trending ways by holding 8055-66.
Bearish scenarios open up only below "8007".
Immediate minor resistances are 8111 & 8139.
We have tentatively labelled the sub-waves of the move from 7540.
The 5th wave may have started from 7422 or 7540.
Accordingly tentative targets could be (as per 1=5 with 1 as 5933-6777=844):
7422+844=8266  OR
If the sub-waves play out as per the tentative labels, it could reach closer to 8200.
Remember, these are tentative labels in shorter t/f and we should adjust the labels as they unfold while trailing our positions with the last rise which is from "8007".
("Cooldent" believes in it and has picked up this art quite well.)


DNSHUKLA said...

Good Mng Sir and Friends.

venkatapathy l said...

Namaste Ilango Sir and blog friends


Prabhanshu Raman said...

GM Sir and Friends.
Gapped up at resistance.

gkm223 said...

I have not seen in my life a sreial five days gap up.

anand said...

Good Morning Sir.
Seeking your blessings..
Decided to be back...and start again..(Still on paper for some more days!)
Hoep you are now fit and fine energetic as ever !!

A 5 wave almsot done near 8121? (Last leg from 8076 at 3:10) Still holding the gap / 8055-66-77 (Aggressive) can move to next resistance zone ?

Ganesh IC said...

Good Morning Sir & JN Family

cahauhan m said...

well-come back anand,
for spot nifty which charting softwer are u using?

v lax said...

good morning master

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