Wednesday, July 30, 2014

Nifty, holding the support @ DLEma, rebounded sharply on the back of OS Hour TA..

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

FII's have been buying again for the last 9 days, after 3 days of minor selling- a resumption of the major uptrend. 
Prices, in the short term, have closed below the two key ST averages. (As long as prices close below these, technicals remain weak; only a close/sustaining above it would reverse the ST trend
The ST direction is "biased Down", as long as prices stay below 7791 & close above these two key averages (21 or 34 hr smas). 
The strategy that has worked consistently well with low risk-high reward ratio is "Initiating a trade at 50%-61.8% retrace with 80% as SL". Adapt to it
Aggressively Holding below 7771-85(61.8% - 80% of last rise), Conservatively Holding below 7796(DHEma), downtrend continues....
Aggressively Holding above 7761, uptrend could resume....