Nifty holding the 2nd support amidst weakening technical signals.

Congrats to all winners !! very well done Nilesh, Manish, Satheeh & Vasanth !!
(I could not participate much for the last 2 days due to personal commitments...and I'm repeating "Kumar's words)
Special appreciation to "Jiignesh & Dinesh Rishi.
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It's going to be a challenging month ahead, especially because of a total sell signal from Month TA.

Nifty Intraday Update-III

Nifty Intraday Update-I & II

Nifty Pre-Market View

5010-5039 supply zone proved a ST resistance.
5002 proved a break down point.
4945 to 4982 proved a corrective rise, monitored with an "abc" move.
And market fell again to 4945 & paused with a feeble abc at close thus setting itself for a continued fall.
A corrective fall could niormally retrace 50% to 61.8% @ 4913 to 4887.
4894-weekly pivot falls right in the middle of it.
Beyond 4887, the last reversal confirmation is @ 4848(80%)
If 5020 to 4946 was "a"; 4946 to 4982 was "b"; "C" could be 4982-74=4908 as equality or more depending on other fibo.relationships.
JNSAR traders could opt for a filter around weekly pivot or golden ratio-4894 or 4887.

Nifty's correction pausing at the recent low of 4945.

Nifty INtraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

Overbought Hour indicated a breakdown from the channel at 5002. As long as Nifty holds the 61.8% retrace at 4940(+/-10), it would amount to correction.
80% @ 4916 is the final confirmation if there is another leg downmove left.

Nifty pauses at the next supply zone with overbought Hour TA.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

Holding above "4970", Nifty could attempt to move past 5000 to 5010-40. There are supports @ 4945 & 4930.

Nifty does the follow up to morning star with a closes above 20sma.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

Nifty has multitude of resistances in the zone of 4955-4990 above which 5040. Similarly there are multitude of supports @ 4890-4900 below which 4875.
Though Hour TA is overbought, uptrending day TA along with +ve global cues give an upward bias for the opening session. I would keenly look for any weakening signs whenever Nifty reaches 4976-88 zone. WEma @ 4997 could be a critical number for this week.

Conquer fear with quantum work

If you hear a voice within you say ‘you cannot paint,’ then by all means paint, and that voice will be silenced. - Vincent Van Gogh.


A ceramics teacher announced on the first day of school that he was dividing his class into two groups. All those on the left side of the studio, he said, would be graded solely on the quantity of work they produced, all those on the right solely on its quality.

His procedure was simple: on the final day of class he would bring in his bathroom scales and weigh the work of the “quantity” group: fifty pounds of pots rated an “A,” forty pounds a “B,” and so on. Those being graded on “quality,” however, needed to produce only one pot – albeit a perfect one – to get an “A.”

Nifty loses MT downward momentum & ST upward momentum for a trading week ahead.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Happy Birthday, Bhaswanth Chava..

Today is Bhaswanth Chava"s Birthday(The JNSAR trader aiming for Jaya and not Vijaya)
Many, Many Happy returns of the day.
Our Best Wishes for your "Jaya"(Victory).
= = = = = = = = = = = = = = = = = = = = = = = = = = =
There is another channel at work...whose resistance would be around 4975-95 depending on the time of reach. How Nifty corrects at its oversold Hour TA & whether 21 & 34 Hr smas, turning up @ 4872, offers support would reveal the strength of this "morning star's reversal" which requires a "follow up action."
Debate will be about: whether a truncated (5) done at 4805 or it was part of (4) and the (4) gets concluded at today's high...

Nifty shows up a "morning star" amidst bad news.

Definition of 'Morning Star'

A bullish candlestick pattern that consists of three candles that have demonstrated the following characteristics:

1. The first bar is a large red candlestick located within a defined downtrend.
2. The second bar is a small-bodied candle (either red or white) that closes below the first red bar.
3. The last bar is a large white candle that opens above the middle candle and closes near the center of the first bar's body.

As shown by the chart, this pattern is used by traders as an early indication that the downtrend is about to reverse.





Read more: http://www.investopedia.com/terms/m/morningstar.asp#ixzz1vmee1sjU

Investopedia explains 'Morning Star'

A morning star pattern can be useful in determining trend changes, particularly when used in conjunction with other technical indicators. Many traders also use price oscillators such as the MACD and RSI to confirm the reversal.

Read more: http://www.investopedia.com/terms/m/morningstar.asp#ixzz1vmeyuZ00

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

"Buying is suggested" based on the observation that "v" of the (5)th of C/3 is about to be completed when Nifty falls below 4805 this morning. But a fall beyond 4780(approx) would make it a "iii"rd of (5)th. A faster retracement is also required or a close above LEmas.

Nifty, resuming downtrend, ends lower despite oversold hour TA.

Market is closer to two critical channel supports 4800-weekly & 4720-35-Monthly. Major falls would be likely below these levels. Nifty has made a top @ 4956-57 twice and the same would trigger a short covering/ buying. One could keep the retracements handy to enter early in case of a reversal. "Sell on rises" continues for this settlement.

Nifty Intraday Update-III