Monday, February 24, 2014

Nifty closes above 50dsma, another hurdle crossed & to be protected/ defended....

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

Prices are nearing the most crucial MT avg/ Gap start-6174-89. The gap extends upto 6263 & the 80% @ 6271.
Moving past 6174-89 is quite crucial and it could be done only with a "iiird of 3rd"; Failure to do so today would put Nifty back into corrective mode.
Remember that till "6271" is not surpassed, bullish momentum would not return.
Last rise started from "6129" and whenever prices drop below 61.8%/ 80%, it would mean corrective mode has returned. Sustaining would confirm of the continuation of upmove.