Monday, September 8, 2014

Nifty Pre-Market View.

Prices attempted to move closer to channel bottom/ 34 Hr sma to complete the hr correction around 8055(Low made 8050) before reversing.
Hour 9-rsi has completed the correction while the Day 9-rsi is reversing in overbought zone with week showing a -ve divergence at the top in "macd chart"(confirmation by this week end).
Prices suggest of
a) the minor (v)th unfolding from 8050 with two likely targets -8135, 8154.
b) the minor (v)th completed at 8123 & a correction has commenced.
And hence, one need to follow the prices with a trailing number(for the rise from 8050).
With the "Trend losing momentum in day t/f", prices could get sold around 8127-36.
Bearish scenarios open up only below "8055".
If the sub-waves play out as per the tentative labels, the minor (v)th could reach closer to 8135-54.
Remember, these are tentative labels in shorter t/f which are highly fluid and we should adjust the labels as new price pattern emerges.

9 comments:

vksoni said...

Good morning ilango sir and blogmates....

Sonu said...

GM Master and Friends!

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

Parminder said...

MASTER ILANGO AND friends,
Good morning to all
Regards

Suraj said...

Good Morning Ilango Sir and Friends

DNSHUKLA said...

Good Mng Sir and Friends.

Ganesh IC said...

Good Morning Sir & JN Family

Num Char said...

Good Morning Sir and JN Team !

Sir , Hope you are doing great at your health side .
Let team know sometime how you are feeling .
May divinity embrace you .

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