Nifty Intra update

Another buying opprtunity for the day @ 5025-5030 with a SL @ 5020.

Nifty Intraday update.

Nifty touched our buy levels @ the open 4980-5010..Low is 5011 and in NF 4996. If you have bought, a confirmation of an intra rally will be a move past 5037NF.
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Dr.Saurabh wants to know how to find the "ORB":-
When Nifty opens gap down or up, and there is a possibility of a reversal, then "note down" the correct high & lows of the first 15 minutes(9.55AM to 10.10AM, it could be extended a bit too or reduced too..) and trade the break out direction.
For today: our buy level happens to be the low of the ORB and the confirmation was the breaking past 5037 in NF.(Future had a freak low quote and spot had wrong high quote.)
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Nifty Premarket View.

5030 is the "Hour channel" support.
Holding above 5005 , the possibility of a new high exists.
Ideal buying levels are around 4980-5010 on a gap down. However, watch the first 15 minutes range break out(ORB) and trade accordingly.
Nifty has not yet closed below 5 day avg/ema. Though booking out/exiting @ 5080-5100++ was advised on Thursday, today's range will add to that conviction. Upsides are limited to 5175. Break of 4904 will be the first confirmation for deeper correction.
US markets are positioned at the channel supports though European and Asian markets have decisively broken the trendline supports but oversold.
DL ema @ 4996 --DH ema @ 5054 are critical levels for the day.

Remembering the Mahatma..

Shri Paramahansa Yogananda With Mahatma Gandhi in Wardha:
Mr. Desai led us at once to the writing room where, cross-legged, sat Mahatma Gandhi. Pen in one hand and a scrap of paper in the other, on his face a vast, winning, warm-hearted smile!

"Welcome!" he scribbled in Hindi; it was a Monday, his weekly day of silence.

Nifty ends the week firm..

Nifty Intraday Update

Nifty has completed an intra day correction and poised to head higher, provided 5077NS is protected.
Break of 5077 will weaken it towards 5060-5050.
Staying above 5077 may lead to 5100++.

Nifty Pre market View

The support line extremes for the AM session is @ 4990 and the same is rising into the PM session to 5010. Anything above 5100 should invite profit booking and preferably exit for the weekend.
Trading for the day: One could buy into the weakness around 5020-5030 and exit either @ 5080 or 5100++. And the SL is a fluid 4990-5010.
A. A correction day with 5080 - 5010. OR
B. A mild correction to 5020-5030, followed by a new high...