Tuesday, October 14, 2014

Prices have held the falling wedge's bottom & heading towards the top, the break-out point...

Prices restricted within the "WLEma less 60" @7796 & have closed above DLEma & if manages to stay above 50dsma(7918) or WEma(7943), short term prices would move towards the cluster resistances of 7972-93 or WHEma+
Day trend has paused with a close above DLEma..
As the chart below suggests, prices are most likely to reach the weekly channel bottom..
ST strength has returned with a close above Wk.pivot(7883) initially & more above the critical MT average 50dsma(7918).
Day channel resistance is at 7942.
Critical supports are 7869 & 7842.

17 comments:

Sunil Minz said...

Good Morning sir
Dow Jhons is down 1.33% ithink market will tank on global clues

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

marina s rao said...

Namasthe Master & Blogmates.

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

D.S.SASAN said...

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

Have A Happy Day.

Prabhanshu Raman said...

GM Sir and Friends.

Seems 5 completed at open 7923 or few more plus point.

anmpatel said...

Dear Master
good morning
Day JNSAR column needs rectification.
thanks and have a nice day.

Ganesh IC said...

Good Morning Sir & JN Family

Raghavendra said...

Dear Ilango sir,

Yesterday's EOD posting had JNSAR for today @ 7912 and this morning pre-market view number has changed to 7927. Request you to confirm the JNSAR value for today.

brijsolution said...

GM Sir & friends,,

Prabhu,,, nifty on your tune dancing..

shreya puneeth said...

Price got resisted at 7912 and got reverse and chances of fall till 7700

S N said...

Sir / Friends - Good Morning..What is the level for weekly channel bottom for Nifty & Bank Nifty. This will help for deciding tgt levels. Thanks.

SN

basanti said...
This comment has been removed by the author.
Prabhanshu Raman said...

@ANM and Ragha Ji,
Sahi to hai...Chk dates...(not sure if Sir has changed it already).

Prabhanshu Raman said...

(i) 7796-7928 is 5 waves => 50/61.8/80%=7862/7846/7822
a.(ii) 7928-7861 is 5 waves => 50/61.8/80%=7895/7902/7915

Now retrace of 7928-7861 can be used for shorting, OR
Retrace of 7796-7928 can be used for going long.
Both trades with strict SL

Prabhanshu Raman said...

+ww and probable IHNS:

http://prntscr.com/4w04gf

Magesh Waran said...

goodmorning illango sir & blogmets

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