Nifty-Intra update

Booked profit @ 4494 for the longs initiated at the open. Now sold @ 4494 with SL 4535

Nifty Intra Update

Nifty -a fresh trade.

Assuming a 5 down from 4614 to 4374 or lower, a 23.6% to 38% retracement works out to 4430 & 4465. Chosen only 23.6% & 38% as there was an irregular correction in the 2nd wave(Bearish).
If it trades @ 4350 in the opening hour, aggressive traders may go long with a small SL ANd S&R @ 4430-4465.

At 9.57 AM:
Bought @ 4370 for a target of 4430 to 4460.

At 11.20AM:
Target revised to 50% retrace @ 4494. Trailing SL for Longs now @ 4420NS.

At 12.05PM: Trailing SL for long now @ 4440 NS.

At 1.00 PM: Trailing SL for long now @ 4460 NS.

At 1.06PM: PROFIT BOOKED @ 4494(NF) as mentioned

Nifty to break 4360..after an Island reversal.

The customary retracement for the 4727 - 4359 fall was quickly dealt with in 2 days and Nifty poised to break 4360 in its "c" down or "3rd" down..targetting 4100 odd..

The last support holding - week low ema(4347) likely to crumble tomorrow.
Hourly macd into negative and it triggered in the morning with the gap down.

Nifty Future chart clearly shows an island reversal and a break of 4358 may target 4100 roughly.

Nifty Intra update

We had a 5 down from 4727 to 4360. And we retraced roughly 69%(Between 62% & 76.4%).
Now again we seem to have fallen in a 5 waves from 4613 to 4379...(5th is still on). So Sell on a retracement (May not retrace so much).As hourly is oversold, a bounce may happen. If Asia comes off the lows, you will get the bounce. If not a gap down..

Nifty-Intra update

Nifty Pivot table.

With strong negative cues, the supports become resistances.
Weekly Pivot:
S1 Pivot
4,422 4,518