Thursday, April 3, 2014

Nifty has another day of intraday correction but fails to hold gains with a close below DHEma...

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

Hourly corrections produced 45 to 75 points of fall.
Daily corrections produced 120-130 points of fall during the rise from 5933 till date.
Week hasn't shown any weakness so far with its first number presently placed at 6614 and it rises with newer highs.
Once you understand the quantum of correction, you could sit back relaxingly and hold your trading positions based on higher T/F.
If you follow Week-Day combination for your positional trading, you would part book on seeing first sign of weakness from Day T/F and re-enter once day completes its corrections while week maintains its uptrend.
Similar approach should be used to deal with Month-week combination.