Thursday, February 13, 2014

Nifty, after the mild selling @ gap area-6098-6110, broke golden ratio-6077, heading toward new lows...

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

Prices broke out above 6080 to reach the gap area @ "6098-6110"(6107) and has pulled back to the break-out point while holding golden rise of the last rise from 6059-6107.
To continue this pattern, prices must move up holding "6077".
Prices have closed below the "rising pivot @ 6089", a clear disadvantage unless emergent buying happens.
"6116-6123"- DHEma+20 and 80% is the critical zone.
Resolution from the sideways market has eluded for so many days and the day technicals are at OB zone and vulnerable; the strategy of a sideways market continues..