Monday, October 20, 2014

Prices, taking support " Falling wedge's support line", poised to break-out..

Minor bounce happened @ 100 dsma & from the "Falling Wedge" support & prices closed above "most LEmas" suggesting a pause in downtrend.
Break out point @ 7872 coincides 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..
ST strength continues above Day.pivot(7774) & Wk.pivot(7811).
Hour chart's "Contracting triangle" with prices oscillating between these two ranges while technicals reaching highly oversold region with +ve divergences poised for a break out above 7870.
Clster 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..


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.
Relieved to find this page opening. Was tense.

Prabhanshu Raman said...

GM Sir and Friends.
Sgx nifty at 7950.

Prabhanshu Raman said...
+ww triggered at 7766 in 15mins. 1-4tgt line comes at 8000+. Sl as usual a close below 7766 in 15mins
October 17, 2014 at 1:12 PM

marina s rao said...

Abid G,

Sorry, I couldn't respond 2 ur query as I was on a trip.

Y'day evening only i saw ur query.

By that time U got replied by Prabhanshu ji.

Also refer to Master's reply 2 Sudhanshug24's query given today morning in previous post.

Happy trading.

venkatapathy l said...

Namaste Ilango Sir and blog friends


amber said...

Guru ji charan vandan

Ganesh IC said...

Good Morning Sir & JN Family

Sonu said...

GM Master and All...

Daily chart that we missed in google finance...

gs said...

good morning master

kumar k said...

Prabhanshu what is +ww ?

kumar k said...

Prabhanshu what is +ww?

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