Thursday, January 31, 2013
Nifty Pre-Market View.
"6057-61"-Day & Week Pivot as well as DEma, 34 Hr sma-closing below them suggest weakness.
"6040"-channel support, below which "6029", the 80% of the last rise from 6008-6112.
Nifty may have completed the "pause" after the sharp fall from 6112-6042 of 29th.
OR holding above 6029, it could still attempt to prolong the pause/ bounce being the "settlement day".
50% & 61.8% of the fall @ 6077 & 6085 are the major resistances. Nifty, thus far could attempt only 38%
There is only one number of the month that comes close to defend...6034, the developing mth pivot.
ST Technicals point "down" as reflected in TT but the Week & Month remain "UP".
That, coupled with 6 hours of trading, could lead to some choppy times.
"6040"-channel support, below which "6029", the 80% of the last rise from 6008-6112.
Nifty may have completed the "pause" after the sharp fall from 6112-6042 of 29th.
OR holding above 6029, it could still attempt to prolong the pause/ bounce being the "settlement day".
50% & 61.8% of the fall @ 6077 & 6085 are the major resistances. Nifty, thus far could attempt only 38%
There is only one number of the month that comes close to defend...6034, the developing mth pivot.
ST Technicals point "down" as reflected in TT but the Week & Month remain "UP".
That, coupled with 6 hours of trading, could lead to some choppy times.
Wednesday, January 30, 2013
Nifty Pre-Market View.
I think it's much more interesting to live "not knowing" than to have answers which might be wrong. --Richard P. Feynman.
Don't need to be "Nostradamus of financial market", just follow the prices and they have been oscillating within a narrowing trendlines this entire series.
A 5-wave fall unfolded from the resistance zone of 6105-6115(6112) to the channel support @ 6040(6042).(A golden ratio retreat.)
With a close below most HEmas, it becomes a sell on rises.
Considering the larger trend being intact, one would initiate longs closer to the channel support or above 21/34 Hr smas and trade the bounce(only if you get appropriate entries) and hold them only if closes above HEmas because there is a possibility of "rising wedge(ED)" continuing as well as the "Bullish impulsive upmove" continuing after the "running correction @ 6008", holding above 6029.(80%).
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RECAP:
There are two "converging trendlines" in the "Price chart".
Prices are right at the midpoint.
High reward low risk entries would be closer to these trendlines.
Upper trendline would be around 6135 & the lower around 6030(80%)
-------------------------------------------------------
And the market provided with a "low risk-High reward" entry @ 6105-6115 as well as another
likely "low risk-High reward" entry closer to the channel bottom @ 6048(Golden ratio).
Don't need to be "Nostradamus of financial market", just follow the prices and they have been oscillating within a narrowing trendlines this entire series.
A 5-wave fall unfolded from the resistance zone of 6105-6115(6112) to the channel support @ 6040(6042).(A golden ratio retreat.)
With a close below most HEmas, it becomes a sell on rises.
Considering the larger trend being intact, one would initiate longs closer to the channel support or above 21/34 Hr smas and trade the bounce(only if you get appropriate entries) and hold them only if closes above HEmas because there is a possibility of "rising wedge(ED)" continuing as well as the "Bullish impulsive upmove" continuing after the "running correction @ 6008", holding above 6029.(80%).
-------------------------------------------------------
RECAP:
There are two "converging trendlines" in the "Price chart".
Prices are right at the midpoint.
High reward low risk entries would be closer to these trendlines.
Upper trendline would be around 6135 & the lower around 6030(80%)
-------------------------------------------------------
And the market provided with a "low risk-High reward" entry @ 6105-6115 as well as another
likely "low risk-High reward" entry closer to the channel bottom @ 6048(Golden ratio).
Tuesday, January 29, 2013
Nifty Pre-Market View.
There are two "converging trendlines" in the "Price chart".
Prices are right at the midpoint. High reward low risk entries would be closer to these trendlines.
Upper trendline would be around 6135 & the lower around 6030(80%).
I have considered 6017 as the end of (c) of d or ii.c.
We do not know what the RBI would do..booster or puncture..
Follow the price trend as it unfolds.....
Prices are right at the midpoint. High reward low risk entries would be closer to these trendlines.
Upper trendline would be around 6135 & the lower around 6030(80%).
I have considered 6017 as the end of (c) of d or ii.c.
We do not know what the RBI would do..booster or puncture..
Follow the price trend as it unfolds.....
Monday, January 28, 2013
Nifty Pre-Market View.
Nifty has been restricting itself within a "rising wedge" pattern(ED) thus far.
The last part of such a wedge has started unfolding from 6008 and its resistances would be in the region of 6115-35.
The other bullish "iii" will continue to be in contention as long as 6008 holds(RC) or the 80% of the upmove from 6008 to XXXX(wherever it completes today) OR if the prices move past 6135 decisively.
It continues to be "sell on rises" till 6135 is cleared decisively.
As suggested on Thursday & Friday, the "e" upmove has unfolded from 6008 and got a further confirmation with a close above 34Hr sma.
"6046" was the JNSAR as well as 5 Hr high for a reversal trade on Friday considering few whipsaws earlier.
The last part of such a wedge has started unfolding from 6008 and its resistances would be in the region of 6115-35.
The other bullish "iii" will continue to be in contention as long as 6008 holds(RC) or the 80% of the upmove from 6008 to XXXX(wherever it completes today) OR if the prices move past 6135 decisively.
It continues to be "sell on rises" till 6135 is cleared decisively.
As suggested on Thursday & Friday, the "e" upmove has unfolded from 6008 and got a further confirmation with a close above 34Hr sma.
"6046" was the JNSAR as well as 5 Hr high for a reversal trade on Friday considering few whipsaws earlier.
Friday, January 25, 2013
Nifty keeps its options(ED/RC) open with a close above WHEma-6042.
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Nifty Pre-Market View.
Every rise has been sold into thus far.
However, precipitative fall hasn't happened.
Holding "5990", one last attempt could be possible.
"playing-the-bounce" is risky considering the overbought nature of weekly & Monthly TA and the same is being having bearish effect on few large cap stocks.
Let the market confirm a ST reversal with a close above 34 Hr sma.
For the intraday traders, "5990-6000" is a place to watch out for.
"6042"- is the number to be conquered by bulls.
Bears are comfortably poised presently.
However, precipitative fall hasn't happened.
Holding "5990", one last attempt could be possible.
"playing-the-bounce" is risky considering the overbought nature of weekly & Monthly TA and the same is being having bearish effect on few large cap stocks.
Let the market confirm a ST reversal with a close above 34 Hr sma.
For the intraday traders, "5990-6000" is a place to watch out for.
"6042"- is the number to be conquered by bulls.
Bears are comfortably poised presently.
Thursday, January 24, 2013
Nifty Pre-Market View.
There seem to be a "false break down".
"Rising wedge" pattern remains in contention & should not move past 6115 or 6135.
"Bullish running correction", if in contention, should have been completed @ 6021 for a potential strong upmove.
And the "Charts would reveal it" as the day unfolds.
Today & tomorrow should be decisive..
"Rising wedge" pattern remains in contention & should not move past 6115 or 6135.
"Bullish running correction", if in contention, should have been completed @ 6021 for a potential strong upmove.
And the "Charts would reveal it" as the day unfolds.
Today & tomorrow should be decisive..
Wednesday, January 23, 2013
Nifty Pre-Market View.
Chart shows it all.
Let the prices unfold and tell it all.
OI data hints @ a minor bearishness which would require follow up confirmation.
"6089 & 6011" are thetwo 80% though as an (e), it could go higher too.
Let the prices unfold and tell it all.
OI data hints @ a minor bearishness which would require follow up confirmation.
"6089 & 6011" are thetwo 80% though as an (e), it could go higher too.
Tuesday, January 22, 2013
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