Monday, August 25, 2014

Nifty got resisted at "Broadening top" & has closed below DHEma.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

Nifty has been pausing around the 7900 for three days - that is resistances established in the short term.
This has resulted in "Catch-up-with-averages" with the ST averages coming quite close to the prices.
Prices managed to stay above "21/ 34hr smas" so far though 21 has been breached once.
And Now, there are -ve divergences in Hour technicals.
If prices are able to sustain 7884-87 or 7870-74, upward momentum continues depending on EOD prices.
"Broadening Top" resistances is @ 7943 at open.
Once you start to see 3,4, (3), (4)'s, it is trading time..(Resistances established at 7920-29 and supports at 7846-56..)