Monday, March 31, 2014

Nifty gains the vital monthly momentum signal with a close above MHEma...(So did many stocks)

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Happy Ugadi.

Major break out happened when prices broke through 6343-58, earlier supply zone.
EOM-Prices would be closing above MHEma.
The biggest gain in stock market comes from such "roofing through" which gets captured by "sitting through".
We stressed the "reading of lead indicator" -
I repeat:
Weekly momentum in play since it closed above WHEma on 28th February.
Imagine a monthly momentum...!!! 
In a 3rd wave and this one is coming after 4 years of consolidation, the retracements will be sharp & swift.
You have seen the hour stochastics staying above 80 mark;
You have seen the Day stochastics staying above 80 mark;
and now You'll see the week & month stochastics staying above 80 mark......
March 7, 2014 at 2:32 PM.
Treat "last rise" to have started from 6644.
When market compels me to label a 5th wave into a 3rd wave, I take a small break to get a better perspective.
The strong bullishness is visible when the giants such as RIL & SBI start to make big moves after making an elaborate basing. I have no opinions of this market; you do the same.