Tuesday, October 21, 2014

Holding above "7832", WLEma, "pause in downtrend" continues as "relief rally"...

Nifty Broke out @ 7872 which coincided with JNSAR of the day.
As the chart below suggests, prices are most likely to reach the weekly channel bottom and it will happen in stages of falls & rebounds..; and that rebound is on..
ST strength continues above 7865-74, last two hour lows.
Hour chart's "Contracting triangle" with prices oscillating between these two ranges while technicals reaching highly oversold region with +ve divergences broke out above 7870 & has pulled back, poised to move higher.
Cluster resistances are in the region of "7912-28" and then at "7970".
Since the fall from 8180 to 7724 is a 3-wave fall, the retrace could be "any %"..
Know the direction...know the retracement & make the trades..

20 comments:

Nilesh Patil said...

Good Morning Master & Friends

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

DNSHUKLA said...

Good Mng Sir and Friends.

Prabhanshu Raman said...

Good Morning Sir and Friends

SUBASH M said...

Good morning master & friends...

marina s rao said...

Namasthe Master & Blogmates.

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

gs said...

good morning master

Ganesh IC said...

Good Morning Sir & JN Family

Ilango said...

5 sub-maves almost done from 7724 to 7917.

Ilango said...

Confirmation would be below 7891 & 7883.

brijsolution said...

GM Sir & friends..

BN new high day.

gs said...

google finance chart not updating,anyone facing similar problem

brijsolution said...

BN Breakout,, handsome move

marina s rao said...

GS,

S Google finance is not working properly.

Hitendra said...

Is BN now in the bullish channel and is further upmove possible?

brijsolution said...

Hitendra Gm...

imp thing is BN should not come down below 16300..

This is so so imp if today or tomorrow 16300 break then good selling can see.

So next two days so imp for this breakout.

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