Prices have closed below DLEma during "downtrend" gathering momentum & the highs are not sustainable.
Downtrend in Day T/f yet to gather momentum with week still in trading mode till prices stay above "WLEma less 60" and hour TA turning around with +ve divergences. There will be sharp rises followed by corrective falls till prices hold "7837" which was the 61.8% of last rise from 7816 to 7869.
As the chart below suggests, prices are most likely to reach the weekly channel bottom as long as they are kept below "7950 & 7990".
Minor strength manifested once hour technicals closed above LEma after +ve divergences & attempts would be made to close above critical MT average 50dsma.
(In a trading mode, prices travel from LEma to HEma during corrective rise)
Immediate resistances are 7868-79, above which 50 dsma..& earlier low of 7925.
Supports are 7837, followed by 7795.
Downtrend in Day T/f yet to gather momentum with week still in trading mode till prices stay above "WLEma less 60" and hour TA turning around with +ve divergences. There will be sharp rises followed by corrective falls till prices hold "7837" which was the 61.8% of last rise from 7816 to 7869.
As the chart below suggests, prices are most likely to reach the weekly channel bottom as long as they are kept below "7950 & 7990".
Minor strength manifested once hour technicals closed above LEma after +ve divergences & attempts would be made to close above critical MT average 50dsma.
(In a trading mode, prices travel from LEma to HEma during corrective rise)
Immediate resistances are 7868-79, above which 50 dsma..& earlier low of 7925.
Supports are 7837, followed by 7795.
10 comments:
GM Sir and Friends.
Shri, i was talking about this +ww (see green lines)
http://prntscr.com/4uefqc
Good Mng Sir and Friends.
Good Morning Master & Friends
Good Morning Dear Sir, Bros. & Sis's,
Have A Happy Day.
Guru ji charan vandan
goodmorning illango sir & blogmets
Good Morning Ilango Sir and Friends.
good morning sir and friends
GM Master & JN Family,
Luks like Nifty jus saw Bang Bang ;-)
@ Prabha: possible, but dont know if probable .. y ?
Bcoz for a H-prob +WW, pt1 shud be an EW w4 of prev. Impulse or w1 of Prev ABC (for a Bullish reversal)
Every price pattern need not & will not fit into the WW theory.. just to keep in mind
Have a gr8 day !
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