Tuesday, February 11, 2014

Nifty has another pause day with selling @ 6080+ while holding 5dsma.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

Prices, during downtrend having closed above DLEma few days back, entered a "pause/ trading mode" & moved above DHEma(but not closed) and found mild selling in the last two days and came to 5dsma/ema.
DLEma has been rising while the DHEma falling during this "trading mode" which favours the strategy to capture "Jack Rabbits" before they disappear..
Prices are within the "Gap area @ 6098-6110" and the "rising trendline @ 6010-25" which is supported by OI study. Hence, the sell on rises & buy on dips continues within this range till it gets resolved.