Friday, October 17, 2014

Prices display the superiority of larger t/f trend assertion...

Prices restricted below "Resistances @ 7893-7906" moved lower breaking  weekly mid channel support...
Week trend has asserted and the critical number for the day would be WLEma(presently 7822) and DLEma..
As the chart below suggests, prices are most likely to reach the weekly channel bottom..
ST strength remains weak below Day.pivot(7791) initially & returns above it & more above the critical ST average 5dema(7839).
Hour chart's "Contracting triangle" with prices oscillating between these two ranges while technicals getting weaker by each day, finally broke down..
Reliable supports are far away at 7645(MEma), 7540 & 7440, though minor bounce could happen @ 100 dsma.

10 comments:

Nilesh Patil said...

Good Morning Master & Friends

D.S.SASAN said...

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

Have A Happy Day.

Sunil Minz said...

Sir
Very good morning
We must totally concentrate on pure technicals on charts of diff T/F and tech table no other data isnt sir

Sunil Minz said...

sir
today is weekly close

SUBASH M said...

Good morning master...

gs said...

good morning sir

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

Rasendra Zala said...

Good Morningto Ilango Sir and Friends.

Himansu Mehta said...

dear sir.

typing error
iv = .... NOT < I
pl. note
thx

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