Thursday, October 30, 2014

Rally continues in a channel, holding critical 2 day lows...& broke above the resisting supply line to make new highs...

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Uptrending prices enter "settlement day" with negative divergences, a perfect set-up for volatility..

ST weakness would manifest, if prices are contained below 8105-8120 and broke 2 hour lows.
Presently, all t/f technicals are in uptrend. Sustaining above 8115 would be an early indication  for newer high possibility.
Day has reached OB zone; only EOD would confirm a reversal with a minimum close below DHEma.
Hour has reversed after a brief correction & has uptrended reaching OB zone with -ve divergences...
Break below 8080, channel support/ Day pivot is a sign of weakness; Subsequently, if prices remain below resisting line at 8115-approx, weakness would persist, more below 8059.