Wednesday, October 8, 2014

Prices have closed below channel & the critical 50 dsma -7908.

Prices have closed below DLEma during "downtrend" gathering momentum & the highs are not sustainable.
Downtrend in Day T/f  gains momentum, though week is still in trading mode till prices stay above "WLEma less 60". There will be sharp falls followed by corrective rises.
As the chart below suggests, prices are most likely to reach the weekly channel bottom as long as they are kept below "7945 & 7970".
More weakness manifested once hour technicals gathered downward momentum & broke "day Channel bottom" and closed below critical MT average 50dsma. (All these are happening in BN one day in advance, leading)

11 comments:

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

S A M i T said...

Good Morning Sir..

mayank said...

Good Morning Sir and blogmates

brijsolution said...

Gm sir..

7875 HHEMA & 7880 DLEMA..

as mentioned yesterday ORB is imp

nirtos said...

GM SIR,
Does 7840 have any significance now or we assume larger 4 is unfolding
Thanks

Piyush Sharda said...

sir,

what is significance of trailing no.s 7945 and 7970. ?

marina s rao said...

Namasthe Master & Blogmates.

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

gs said...

good morning master and friends

Suraj said...

Good Morning Ilango Sir and Friends

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