Monday, October 13, 2014

Oversold Day & Hour TA makes the downtrending prices "pause" with a close above ALL LEmas.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Technicals suggest of continuing downtrend..till below 50dsma.

Prices have closed below WLEma & if kept below 50dsma(7913) or WEma(7943), downward momentum would take prices to MEma(7645)
Weekly trend asserted itself to take the prices below WLEma..
As the chart below suggests, prices are most likely to reach the weekly channel bottom..
ST strength returns above Wk.pivot(7883) initially & then above the critical MT average 50dsma(7913).