Wednesday, April 16, 2014

Nifty, unable to move past 38% in the opening session, broke "6722" and giving an early warning of a larger weekly correction..

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

Prices, after the sell on rises signal when Nifty closed below DHEma on Friday, rose to DHEma + 20 on Tuesday and fell towards DLEma less 20 zone.
Prices, then, started a bounce and reached upto 38% @ 6750(6748). If holds above 6722, it could rise to 6763-74 in the opening session..which would be another selling opportunity.
The lower boundary for the day is 6709-6689.
Below 6689, it would be an early signal of a weekly correction.
Strength above 6794 only.