Tuesday, October 28, 2014

Prices in the Hour technicals reverse with the day holding its 2 Day low..

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Overbought hour has commenced the corrections with a break below 2 - Hour low but held it above 2 - Day low..

FII's have sold in the 2nd half of September and prices came off the highs from 8180 & closed near the lows.
FII's have continuously sold in this month, barring one day(& 3 days of small buying) and if that trend continues, prices would close below last month's close (could even be the lows).
ST weakness would manifest, if prices are contained below 8060(8064 high) or 8090 and broke 2 hour lows @ 8015.
Presently, most t/f technicals are in uptrend except "Hour".
Day has reached OB zone; only EOD would confirm a reversal with a minimum close below DHEma.
Hour has reversed from OB zone and correcting...