Thursday, September 11, 2014

Nifty's "Inside day"s shadow" continues to cast its bearish pressure in ST...

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

Prices supported at the redrawn lower mid channel.
FII's have paused their big purchases with subdued VIX.
Prices suggest of:
a) a major correction is underway from 8180.
b) the minor (4)th wave has completed or "a" completed from 8180.
The inside day created "Two day low at 8126" was broken tilting the ST to bears..
The"Trend has reversed in day t/f" with prices closing below DHEma & DEma after showing signs of exhaustion with -ve divergences.
Mild bearish scenario has opened up below "8125" & more would be below 8050-61 & 8007-22, the two cluster supports.
Mild Bullishness returns above 8111 for the day & more above 8143.