Wednesday, August 13, 2014

Happy Birthday to dear Gaureshji...

I wish you have a wonderful day and that the year ahead is filled with much love, 
many wonderful surprises and gives you lasting memories that you will cherish in all the days ahead. 
Happy Birthday, dear Gaureshji..

Nifty Intraday update-III

Nifty Intraday update-II

Nifty Intraday update-I

Nifty Pre-Market View.

The corrective fall from 7841 to 7540 showed a distinct 3-wave fall.
The fall from 7752 to 7540 was labelled with 5 sub-waves.
We, hence, looked for a retrace upto 7664-75, above which market could rally anywhere and it broke past the resisting trendline, again at 7675.
The reliable 9-Day rsi suggests of a reversal from its critical support which would depend on prices holding above 7625-35(50dsma) in the coming days. There is also a fast rise set up developing between 5 & 50 dsma.
Strength has returned with prices closing above 50 dsma @ 7624-34 and would continue staying above 7663, 2-Hour Low.  
Minor resistances are in the region of 7749-55, above which 7799-7809.
(Last rise retrace considered from 7661)