Nifty Pre-Market View.

Corrective phase continues..sell on rise continues.
There have been "rises/bounces" along the way but they have been sold into.
Price weakness would continue below 6690 towards 6644 or lower 6578 this week..
If stays above 6690, it could attempt 21 hr sma-6718 or more.
Only a close above DLEma would bring in a "pause" and a subsequent attempt to move higher..

Let me introduce to your greatest enemy...and your dependable protector..

Yashiko was a wealthy samurai warrior in ancient Japan. He cut a fine figure; his armour and sword were of the finest workmanship. His ornaments were of the finest variety: silver, copper, gold and bronze. He lived with his wife and elderly mother in an elegant tiled house in the best quarter of the town. His wife Ayako was considered the most beautiful woman in the kingdom, and his aged mother was much celebrated for her wisdom and learning.

Life was good for Yashiko. He had a handsome salary from the emperor, regular revenue from his many properties, and a hefty stake in a porcelain trading business. But even all this wealth was not enough for a man like Yashiko. To keep from getting bored (which was uncomfortably often) the proud and greedy samurai decided to start a moneylending business for poor people.

Nifty's corrective phase add wee(a)k signals to move lower..

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

EOM has just gone by with trend & momentum intact;
EOW is here..with three critical numbers..6779,6717,6639.
Retrace for the last fall comes at 6733(HrJNSAR@6732) & for a larger retrace 6755(J10SAR@6750 & 20 dsma @6749).
Sell on rise continues..
Prices found a pause at the last two demand points of 6650-65 and the quality of this bounce will be critical for the end or continuation of this corrective phase.
From 6650, a 169 points rally emerged;
From 6665, a 205 points rally emerged.
If the rally from 6663 does not move past 6777-80 in the next 2 days, early signs of weakness would be confirmed..
Watch the retrace of the current bounce from 6657 for signs of weakness.