Wednesday, May 14, 2014

Nifty continues its "pause" during the 3rd wave journey..

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

We identified the 5 waves unfolding and alerted to the possibility of a correction more than the hour kind.
Last night, we suggested the importance of 6931, a 3.36% from 7172, below which a larger correction or a reversal possibility.
One should maintain silence and listen to what the market is telling during this 3rd wave journey; thus far, we listened quite well. Let us just stay focused.
Take those small trades in intra in the direction of the trend as the "trend in force is a great force to be friend with"..
Only when a new signal emerges, should we change our course of action.
Keep your eyes on FII inflows.