Friday, January 31, 2014
Nifty Pre-Market View.
Prices seem to have done a 5 from 6170.
Prices also seem to have done a 5 from 6356 as long as 6015 is held.
Initially, look at the bounce/ retrace for 6170 to 6027 while holding "6047".
The critical number that would suggest a larger retrace would be 80% @ 6141.
Prices came close to the gap @ 6086.
Gap zone of 6086-6110 is the resistances.
The ST bounce was supported by Hour TA with +ve div but not the day TA.
Day TA would support only if prices are able to close above DLEma, the new one for the day..
Simultaneously, there will be two new signals emerging from week & month today - 6137 & 6100.
In sum, holding 6047, bounce continues into the res. zone of 6086-6110.
What the market does beyond this would be new information for the "followers" to take their cues..
Prices also seem to have done a 5 from 6356 as long as 6015 is held.
Initially, look at the bounce/ retrace for 6170 to 6027 while holding "6047".
The critical number that would suggest a larger retrace would be 80% @ 6141.
Prices came close to the gap @ 6086.
Gap zone of 6086-6110 is the resistances.
The ST bounce was supported by Hour TA with +ve div but not the day TA.
Day TA would support only if prices are able to close above DLEma, the new one for the day..
Simultaneously, there will be two new signals emerging from week & month today - 6137 & 6100.
In sum, holding 6047, bounce continues into the res. zone of 6086-6110.
What the market does beyond this would be new information for the "followers" to take their cues..
Thursday, January 30, 2014
Nifty trended down after 2 day's of pause, ending with settlement's short covering at close..
Congratulations Dinesh.
dinesh said... my guess 6065(0 .23 retrace of the fall from 6157) January 30, 2014 at 2:00 PM.
Thank you to VK soni and all participants.
dinesh said... my guess 6065(0 .23 retrace of the fall from 6157) January 30, 2014 at 2:00 PM.
Thank you to VK soni and all participants.
Nifty Pre-Market View.
Nifty "paused" for one day....and another day..;
Such pause should not distract the "Trend followers"..
Markets are never identical; each set up has different combinations; the risk-reward changes in your favour as the TT becomes more Red during downtrend or more green in uptrend.
"Reading Oscillators" has stressed the point of reading them in context to "Trending" & "sideways market".
Learn to differentiate these two and learn patience.
Wednesday, January 29, 2014 Nifty Pre-Market View:
There are two clusters in the chart below: 6162-71( & 6189-2 DH) and another @ 6222-25.
6098-6108, 61.8% - 80% of last rise are immediate supports.
"6189" being week's 26ema would signal strength/ weakness for this week..
---------------------------------------------
Nifty stopped @ 6170 and fell to 6110.
---------------------------------------------
Ilango said...January 29, 2014 at 12:17 PM
Since the rise from 6086 to 6170 is a 3-wave structure, it could be a "Flat" which would mean a trading range of the same. Besides these, 6130-40 provided crucial support on 2 recent occasions.
Now the attempt to stay above "it" is on. There will be sellers between 6163-89, last two day's highs. hence, break below 6130-40 could be taken as weakness.
Trading during "pause" requires very careful trading....as in a "b" wave.
If not, simply flow with the trend till it bends.
-----------------------------------------------------------------------
Be daring to state the truth..the truth derived objectively from your studies. A failure here & there owing to market's unpredictablity should not deter you in your application of your studies.
This world needs more & more of "truth seekers" to be bold and forthcoming...
Shun the "attention seekers" for their "ways" are not built with dependability.
------------------------------------------------------------------------
For today/ tomorrow: Holding below 6145-6158, correction would attempt initially 6071, and then 30wk sma @ 6002/ 200dsma-5971 in a day or two..
Such pause should not distract the "Trend followers"..
Markets are never identical; each set up has different combinations; the risk-reward changes in your favour as the TT becomes more Red during downtrend or more green in uptrend.
"Reading Oscillators" has stressed the point of reading them in context to "Trending" & "sideways market".
Learn to differentiate these two and learn patience.
Wednesday, January 29, 2014 Nifty Pre-Market View:
There are two clusters in the chart below: 6162-71( & 6189-2 DH) and another @ 6222-25.
6098-6108, 61.8% - 80% of last rise are immediate supports.
"6189" being week's 26ema would signal strength/ weakness for this week..
---------------------------------------------
Nifty stopped @ 6170 and fell to 6110.
---------------------------------------------
Ilango said...January 29, 2014 at 12:17 PM
Since the rise from 6086 to 6170 is a 3-wave structure, it could be a "Flat" which would mean a trading range of the same. Besides these, 6130-40 provided crucial support on 2 recent occasions.
Now the attempt to stay above "it" is on. There will be sellers between 6163-89, last two day's highs. hence, break below 6130-40 could be taken as weakness.
Trading during "pause" requires very careful trading....as in a "b" wave.
If not, simply flow with the trend till it bends.
-----------------------------------------------------------------------
Be daring to state the truth..the truth derived objectively from your studies. A failure here & there owing to market's unpredictablity should not deter you in your application of your studies.
This world needs more & more of "truth seekers" to be bold and forthcoming...
Shun the "attention seekers" for their "ways" are not built with dependability.
------------------------------------------------------------------------
For today/ tomorrow: Holding below 6145-6158, correction would attempt initially 6071, and then 30wk sma @ 6002/ 200dsma-5971 in a day or two..
Wednesday, January 29, 2014
Nifty Pre-Market View.
Prices have paused near the 1st target of 6071 @ 6086 after a completion of 5 waves (It could be 3 too; either way, a ST correction is due).
Earlier supports would turn into resistances now.
There are two clusters in the chart below: 6162-71( & 6189-2 DH) and another @ 6222-25.
6098-6108, 61.8% - 80% of last rise are immediate supports.
"6189" being week's 26ema would signal strength/ weakness for this week..
Earlier supports would turn into resistances now.
There are two clusters in the chart below: 6162-71( & 6189-2 DH) and another @ 6222-25.
6098-6108, 61.8% - 80% of last rise are immediate supports.
"6189" being week's 26ema would signal strength/ weakness for this week..
Tuesday, January 28, 2014
Nifty Pre-Market View.
Prices have tested the 6130-40 zone but no buying support was visible.
ST technicals are at oversold zone; if 6110-20, approx., is held, minor bounce is possible.
Yesterday's high, 6189, is critical for meaningful bounce or reversal attempt.
Yesterday's fall was accompanied by huge FII selling & sharp rise in VIX.
EW: Reduced to two possibilities.(3rd is hidden within the first)
1. Below "6287", it alerted to the deeper falls with sub-dividing waves....
"2nd" wave unfolding to a target zone of 6143-62. Decisive break of this zone would lead to "deeper correction". (It has broken below it; now, for deeper correction)
2. "2nd" wave completed @ 6356 and a 3rd wave unfolding, 1st being 6415-6130, 285 points, targeting a minimum of 6071 as equality and 5900(5955-71-200dsma) approx as 1.618 of 1st with corrective rises in between.
ST technicals are at oversold zone; if 6110-20, approx., is held, minor bounce is possible.
Yesterday's high, 6189, is critical for meaningful bounce or reversal attempt.
Yesterday's fall was accompanied by huge FII selling & sharp rise in VIX.
EW: Reduced to two possibilities.(3rd is hidden within the first)
1. Below "6287", it alerted to the deeper falls with sub-dividing waves....
"2nd" wave unfolding to a target zone of 6143-62. Decisive break of this zone would lead to "deeper correction". (It has broken below it; now, for deeper correction)
2. "2nd" wave completed @ 6356 and a 3rd wave unfolding, 1st being 6415-6130, 285 points, targeting a minimum of 6071 as equality and 5900(5955-71-200dsma) approx as 1.618 of 1st with corrective rises in between.
Monday, January 27, 2014
Nifty Pre-Market View.
Rewards comes to those who do the "following"..
Though Nifty is still within the broad trading channel, staying below "6331" on Friday, it generated almost perfect "sell" signals from across various studies.
EW: Reduced to two possibilities.(3rd is hidden within the first)
Below "6287", it alerted to the deeper falls with sub-dividing waves....
"2nd" wave unfolding to a target zone of 6143-62. Decisive break of this zone would lead to "deeper correction".
"2nd" wave completed @ 6356 and a 3rd wave unfolding, 1st being 6415-6130, 285 points, targeting a minimum of 6071 as equality and 5900 approx as 1.618 of 1st with corrective rises in between.
Though Nifty is still within the broad trading channel, staying below "6331" on Friday, it generated almost perfect "sell" signals from across various studies.
EW: Reduced to two possibilities.(3rd is hidden within the first)
Below "6287", it alerted to the deeper falls with sub-dividing waves....
"2nd" wave unfolding to a target zone of 6143-62. Decisive break of this zone would lead to "deeper correction".
"2nd" wave completed @ 6356 and a 3rd wave unfolding, 1st being 6415-6130, 285 points, targeting a minimum of 6071 as equality and 5900 approx as 1.618 of 1st with corrective rises in between.
Saturday, January 25, 2014
Spirituality's highest lesson learnt from ...
A villager's son was stricken with a most serious ailment. His father was inconsolable. He went from one village doctor to another searching for a cure for his son, but nobody could cure him. Finally the father brought his son to the best doctor in the town. This doctor tried various treatments, but the son's condition did not improve. One day the doctor said to the father, "I do not think I will be able to cure your son. You have only one option left: pray to God."
"I have been praying and praying," cried the father. "Do you think I have not been praying?"
"I have been praying and praying," cried the father. "Do you think I have not been praying?"
Friday, January 24, 2014
Nifty Pre-Market View.
End of the week is here; WHEma + 40 @ 6331-6371 is the resistance for the week and prices have been getting resisted in that zone for 3 out of 4 days of this week so far.
"6324-31"(5DEma) is 80% & 61.8% of last rise from 6316 to 6356.
"6300-6286"(DLEma, JNSAR) is 50% & 61.8% of the last significant rise of the current week from 6243-6356.
"6326" is quite relevant again being the last day of the week and a close above it will signal the return of upward momentum to week T/F. Closing below it will keep the "writers" happy going into the last week of the settlement.
TA: Day & Hour are at OB zone with -ve div developing in Hour T/F, would be confirmed with prices falling below 34 Hr sma.
EW: Multiple ST scenarios; best to allow it to resolve itself to pick one.
Due to "eventful days" ahead, the current ST trend has been stretched to accommodate the dates.
"6324-31"(5DEma) is 80% & 61.8% of last rise from 6316 to 6356.
"6300-6286"(DLEma, JNSAR) is 50% & 61.8% of the last significant rise of the current week from 6243-6356.
"6326" is quite relevant again being the last day of the week and a close above it will signal the return of upward momentum to week T/F. Closing below it will keep the "writers" happy going into the last week of the settlement.
TA: Day & Hour are at OB zone with -ve div developing in Hour T/F, would be confirmed with prices falling below 34 Hr sma.
EW: Multiple ST scenarios; best to allow it to resolve itself to pick one.
Due to "eventful days" ahead, the current ST trend has been stretched to accommodate the dates.
Thursday, January 23, 2014
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