Nifty PreMarket View.

I have given below Daily stochastics(5.D) and Hourly stochastics(35.D) combination which gives a very good lead indications, especially in a sideways market.
Weekly stochastics (5.D)has turned down last week and now 4 days to go for the week. The follow up actionfor the week's signal isimportant. However, the current daily trend has turned up
This hourly stayed below 20 mark the whole Friday though it has reached the "OS" level the previous day. Another instance of market's delayed action to throw you off guard. Now watch this after moving higher & breaking below 80 mark for signs of weakness. If macd is in buy mode when this gives a sell, wait for confirmations to act. But if macd is in OB, then you may act as per the lead indication. The 5 wave count from 5478 to 5349 helped to take a reverse position.

Nifty's correction may have ended with a move above 5415.

Nifty moves out of the corrective channel at the open, pulled back to 5405 and moved higher. Is it a corrective rally or resumption of upmove. In either case, a short term bottom is in and the direction has turned up.
If it can sustain above all the "high emas", then the momentum may take it higher.
Tech.Table has turned all green. Follow up is equally important.

Nifty Intraday Update-II

Trading firmly above 5415.

Nifty Intraday Update-I

"5415" acting as resistance again. "5405", the pivot & "5385", the support as of now.

Nifty PreMarket View.

Weekly trend remains up with a close above 5357 and the daily trend has been down with a close below 5-day ema(5397) but with short term being Oversold with +ve div developing. Trade light in this 5350 to 5440 zone.

Trade Long above 5385-5395 Zone.

Weekend Analysis.........Conquer Fear..How..?

This weekly channel has the "break down" level at approximately 5250-5270 zone.
Trendline has been broken; Completion of 5 waves; Closed below 20sma; Double divergences after 9 weeks of uptrend;Minor supports may be @ 5325-5335.
Friday's PreMarket clearly suggested only "an aggressive Buy" and the same needed to be confirmed with a move past 5415 which did not happen. Time ran out and the intra sharp upmove failed at 5405. The 12.00 Noon update showed the chart pointing out the break down point @ 5385. Always revise your trading plan at regular intervals and remember my "Expiry date/ time" factor for each trade.

Tech.table shows weakening momentum of bulls even in the weekly T/F. Week Low ema @ 5300 is crucial as per this table. Remember these numbers change as the market unfold and will be updated regularly.

5-Min Macd shows a likelihood of +ve divergence but it needs to be monitored on Monday. I will update the chart in PreMarket View.
Tell me in one word, "How do you conquer FEAR.?"

Happy Friendship Day, dear friends.

Ashwin was in the ninth standard when his father passed away. Since then his neighbour and classmate Bharath has been a sort of father figure for him. Ashwin went on to excel in his studies, becoming the first quadriplegic student in the country to become an engineering graduate, an achievement which wouldn’t have been possible were it not for the sacrifices Bharath made. This included giving up an engineering seat in a distant town because he had to be physically present beside Ashwin if the latter had to complete his own engineering degree in a Chikmagalur college.

Bharath’s sacrifice for classmate Ashwin, who was born with cerebral palsy, to ensure that the latter was able to complete his engineering, moved Sachin Tendulkar so much that he called their story ‘One in a billion’.

Tendulkar got interested in their story when he heard about it from fellow cricketer Robin Uthappa. When Uthappa first met Ashwin and Bharath, his view on battling the odds, on and off the pitch, took on an added dimension. With the right attitude, nothing was insurmountable, he surmised. The two young men themselves were cricket fans and they told Uthappa that nothing would make them happier than meeting Sachin Tendulkar some day.