Tuesday, October 14, 2014

Prices "offered/ showed" the Range(trad)ers trading mode opportunities..

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Prices have held the falling wedge's bottom & heading towards the top, the break-out point...

Prices restricted within the "WLEma less 60" @7796 & have closed above DLEma & if manages to stay above 50dsma(7918) or WEma(7943), short term prices would move towards the cluster resistances of 7972-93 or WHEma+
Day trend has paused with a close above DLEma..
As the chart below suggests, prices are most likely to reach the weekly channel bottom..
ST strength has returned with a close above Wk.pivot(7883) initially & more above the critical MT average 50dsma(7918).
Day channel resistance is at 7942.
Critical supports are 7869 & 7842.