Friday, October 31, 2014

The deceptive "B" wave transforms into a "v"th wave with sub-dividing waves...

FII's started buying in this month from 20th, kept it deceptively low for 4 days and resumed buying big again.
Prices moved past decisively above 8105-8120 and never returned.
Presently, all t/f technicals are in uptrend. Sustaining above 8140, the impulsive uptrend continues.
Prices making newer highs while Day in OB zone reveals the underlying bullishness; only EOD would confirm a reversal with a minimum close below DHEma.
Hour -ve divergences got negated while the prices held the lows....
Sustaining 8080 at open, channel support/ Day pivot, strength continued for a 100 point rally.
Below is the monthly chart wherein the clarity is more compared to the choppy(noisy) short term T/f charts. Whenever doubt arises, revisit the higher t/f charts & 9-Day Rsi chart(for ST).

17 comments:

Hitendra said...

Sir - On Stock wealth, the labelling shows 3 at 17500, Am i reading it right?

SUBASH M said...

Good morning master & friends...

Hitendra said...

The Nifty week and MacD chart suggests there is a possibility of a 4 at 7600?

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

Sudhakar said...

Good Morning Ilango and JN Mates

Miss the chance to go long in Nifty at 7900 due to 4th wave inserted in mind.

Magesh Waran said...

good morning illango sir and blog mets

prakashbkc said...

Sudhakar ,

It is good u donot go long, I have gone short around 8050 in expectation of 4th wave, Now in deep red

Ganesh IC said...

Good Morning Sir & JN Family

gs said...

what a punch by bulls to welcome the new series

gs said...

good morning master and blogmates

Raman Kapoor said...

I guess this is the most hated rally for most of us

vishnu said...

Namaskar Sir and blogmates

gs said...

@raman

thats true ,i think as finance minister said he supports rate cut so...this rally!

I Trade 4 Profit Daily said...

Nifty in ND Sir's ATR Sell Zone.

Also NF starting a fresh series with a lower premium as compared to last couple of series starts.

Not looking ominous for Bulls.

ramesh said...

I think the black money is rerouted via P-NOTES through FIIs to the stock market

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