Tuesday, October 7, 2014

Correction for the last fall unfolding after which downtrend resumes...

Prices continue to close between HEma & LEma but owing to "downtrend", the highs are not sustainable.
Downtrend in week/ Day T/f does not have momentum besides having "month in uptrend" makes the prices correct in stages. There will be sharp falls followed by corrective rises.
As the chart below suggests, prices are most likely to reach the channel bottom as long as they are kept below "8040 & 8100".
For more weakness to manifest, Hour technicals should gather downward momentum & break "day Channel bottom".

15 comments:

marina s rao said...

Namasthe Master & Blogmates.

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

Magesh Waran said...

Goodmoring Illango sir & blog mets

Num Char said...

Good morning sir and JN Team !!

Like the new format , week day and hour in one snapshot ! Good perspective

gs said...

good morning master and blogmates

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

master day channel bottom is 7935?

Ganesh IC said...

Good Morning Sir & JN Family

Manish said...

Goodmorning master and all friends....

Prabhanshu Raman said...

GM Sir and Friends.
In 5 mins chart, +ww triggered at 7910 and 1-4 tgt line is at 7970+

Prabhanshu Raman said...

In 15 chart, -ww is forming. Point 4 formed at 7897 and point 5 may form near 8034. Tgt 1-4 line may be 7850 (aprx)

gs said...

hi prabhanshu thanks

can you look at 30 min ns charts ,looks like a head and shoulder bdown neckline 7940 levels,head 8020 levels
shoulder 1 formed on 29th shoulder 2 is small formed on oct 1

D.S.SASAN said...

Good Morning Dear Sir,Bros. & Sis's,

Have A Happy Day.

gs said...

market retracing the opening bounce.....can someone post the retrace levels to it?

DN Shukla said...

Good Mng Sir and Friends.

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