Thursday, May 15, 2014

Nifty completed its pause & starts its (iii)rd wave from "7083"

Alt. view, if any, would be updated in Pre-Market view..

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

The Credit belongs to you...and you alone.

To the Silent Gambler...who is daring greatly...
It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better.
The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again,
because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause;
who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly,
so that his place shall never be with those cold and timid souls who neither know victory nor defeat.
-Theodore Roosevelt.
From 6639 to 7172 has unfolded into a 5 sub-waves gaining 533 pts, followed by a "pause/ consolidation".
If prices hold above 7020-47 zone, the gap area and pivots or 21 hr sma " 7068-782, next set of 5 sub-waves would start to unfold whose sub-waves will be difficult to spot.
Hence, the low of today as well as the two-day-low of 7067 would be considered critical, taking into account the nature & characteristics of (iii)rd of 3rd wave.