Wednesday, February 26, 2014

Nifty gains steadily on the back of improving technicals, needing just another day to confirm it..

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

One day before EOM & EOW. Two numbers would be key-6097&6187(rising with new highs).
For the day, it would be 6174 & 6189(rising with new highs).
Support is around the rising trendline @ 6170(6173-50% of last rise).
Prices managed to stay above HrJNSAR and HrJNSAR itself has risen closer to Day's pivot..
34 Hr Sma, close below the same would lead to deeper correction. Until then, all drops are being bought into.
FII's buying continue to be higher while VIX remain lower..
EW: Waves are sub-dividing and weakness would be considered only if 6160 is breached.
A likely "v"th wave ends around 6231 (aggressive). (Trailing with a fibo retrace of the last rise from 6177)