Monday, March 3, 2014

Nifty "loses" its upward momentum with a close below "all HEmas"..

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

Last rise from "6242" moved into resistance @ 6281(6283); hence, holding 6250-58 would continue the uptrend but a move below it would confirm a correction of a larger rise(from 6129) towards 34 hrsma/ channel break as in "iv".
Initial support is around 6228 & the next around 6211.
Initial resistances would be around 6292 & the next around 6310.
Negative global cues during uptrend have provided buying opportunities. Only when prices close below HEmas, weakness would emerge. Read global cues to know more.