Friday, April 25, 2014

Nifty shows first sign of weakness after - ve div on a critical EOW.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

Last rise has been from 6806 and 6665.
First sign of weakness would be below 6817 suggesting a possible retrace for the rise from 6665.
Last time, a flat correction unfolded at 6475-6575 before the momentum returned.
This time, a rising/ running corrective phase unfolding in 6650 to 6850-6900.
If prices sustain 6787, and move past 6865, momentum would return.
If not, this corrective phase would continue.
Being the last day of the week, attempting to move to WHEma is likely but how it ends the day would reveal continuing strength or a likely ST reversal...