Monday, June 30, 2014

Nifty makes a tentative break-out of a bullish Flag..

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

“Everyone needs to work hard at somethin’ to feel good about themselves.
Every job can be done well and every day has its satisfactions. . . .
If you want to feel proud of yourself, you’ve got to do things you can be proud of.
“Some people make a lot of noise about what’s wrong with the world, and
they are usually blamin’ somebody else.
People, who don’t like the way things are, need to look at themselves first.
They need to get right with God and change their own ways. . . .
If everybody did that, we’d be all right.”
“I can’t do everything. But I can do something to help somebody.
And what I can do, I will do.”
FII's are alternating buying with selling in typical of consolidation with in the major uptrend.
Prices, in the short term, have closed below two key ST averages.
"Consolidating 2nd wave" continues, having broken below key retrace points at 7500-18;
The ST direction, though "biased down", is poised for a bounce if "7494-7504" is held & close above these two key averages (21 or 34 hr smas).
Aggressively Holding below 7543(Hour channel), Conservatively Holding below 7572, correction continues....
Aggressively Holding above 7494, Conservatively Holding above 7523, reversal attempt/ minor rally unfolds....
Prices have held the day channel at "7482" on Friday; Being the last day of the month & quarter, there could be attempt to take the prices higher, provided recent lows are held. The break-out of the consolidating channel gets confirmed only when the prices move past 7605(Day Channel).