Nifty impulses below 2-mth low-5823.

Manage your trades with J10SAR.
Trailing is the best option in a trending market.
Stay with the trend.
Higher T/F trend prevails over lower T/F.
Month has 2 days to restore; Failure would be a confirmation of larger reversal.

Nifty Intraday Update-I

Nifty Pre-Market View.

I'm always suspicious of rising prices below key averages and
falling prices above averages.
And it gets better when the said averages are trending down or up respectively.
This takes care of 70% of your trades.
Hence, in a trending market, "trailing" is preferable to capture most of the move.
Nifty did take support @ "5823-33" zone & did a 50 point bounce. That is an intraday trade.
It did affect the EOD TA a bit, a pause, with a close above DLEma.
As a follow up, it should move past 2-Day high of "5878" while holding "5836"(80%) preferably or "5825".
For the day, Nifty could hold "5830-36" & continue its bounce. OR
"Staying below 5863", it could continue its slide.
"5879-5883" & 5904, earlier minor supports would act as the resistances again.
If holds in the "5823-33" zone, a minor bounce could still emerge.
Larger bounce only above 5904 or holding 5795.

Nifty reaches the critical "5823"(2-mth low) & rallies swiftly in a 5 & retraces a 3.

A glimpse of a reversal was seen during the day when Nifty reached the support zone @ 5823-33.
EOD prices have confirmed a pause; Holding "5836"(80%), a follow up price action is needed to look for a possible reversal's 1st step.

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

What kind of a trader, are you??
Do you follow technical study?
Do you follow Elliott wave study?
Do you follow mechanical trading system?
Do you follow "event-based" speculation, the high risk kind?
Whatever you have chosen to follow, stay steadfast in it and never get distracted by the noises around.
You combine studies only if you can objectively merge them without any traces of bias.
These studies don't lie. Lies lie in our faulty perceptions...biased expectations.
The day you leave your "ego, the thinking mind" in your "planning/ strategising room" & enter the trading room "empty minded", success starts to reflect in your trades promptly.
Even the mighty FII data lied but prices & its patterns never lied...never will.
Follow to flourish; Predict to perish.
Get Rich Slowly & Quietly.
"5879-5883" & 5904, earlier minor supports would act as the resistances now.
If holds in the "5823-33" zone, a minor bounce could emerge. Larger bounce only above 5904.

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Nifty reaches the ST critical zone of 5823-42 with oversold ST readings...

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-market View.

BN has broken below 2 month low of 12053.
Nifty's 2 month low is @ 5823.
We consider "two period low breaking" as weakness of a particular T/F.
WLEma would be the critical number for the day.

Nifty, unable to move back into the channelled structure, breaks down...

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

If it is the "irregular Flat correction" from 5879 lows, it may not make highs above 5970; but of it holds 5901, it could.
If it is the correction from 5854, "a" done @ 5971 and the "frustrating b" wave would unfold today.
Accordingly, resistances would be @ 5945-70 and supports @ 5910-20.
Being another "abc" from 5854 to 5971, is it another "Flat", if 5 done @ 5854.
It is definitely one of the challenging phase...
"5942" & "5901" would be crucial numbers.

Nifty gets sold off at previous resistance of 5970...

Nifty Pre-Market View.

Nifty has cleared the smaller retrace negation point @ 5947.
Hence, it is heading towards the larger retrace for the 6112-5854 fall @ 5983(50%) & 6013(61.8%).
Previous supports turned resistances would be in the zone of 5979-91.
Monitor the retrace for the last rise from 5883 to 59XX to manage your trades.
Day TA has reversed with advance clues from technical indicators. However, week needs to signal a reversal with a close above 5942 by Friday.
I'll be away for the day.

Nifty @ 5949(80% of small retrace) & poised to attempt the larger retrace (6112-5854)

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

1.Nifty has commenced its 3rd wave down and the current bounce is minor "ii" of 3.
2.Nifty is still in its 2nd wave and the new low on Friday is the irregular 2.b and the 2.c is on.
3.Nifty completed the 5 on Friday @ 5854 and a rally for the entire fall from 6112 to 5854 is on.
These are the 3 possibilities in contention.
Above 5949, the 1st view will get cancelled out temporarily.
Below 5840, 2nd, 3rd view will get negated and iiird of 3rd would be in contention (1st view back in contention with changes in sub-waves).

Nifty within its small pause zone...

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

1.Nifty has commenced its 3rd wave down and the late bounce on Friday is minor "ii" of 3.
2.Nifty is still in its 2nd wave and the new low on Friday is the irregular 2.b and the 2.c is on.
3.Nifty completed the 5 on Friday or another low around 5845 would complete it and a rally for the entire fall from 6112 to 58XX is likely.
These are the 3 possibilities in contention.
Above 5949, the 1st view will get cancelled out temporarily.
Below 5843 (or 5823), 2nd,3rd view will get negated and iiird of 3rd would be in contention(1st view back in contention with changes in sub-waves).

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