Nifty Pre-Market View.

Nifty, holding the DLEma  6158 has rallied higher on Friday on the back of lower VIX & Higher FII inflows.
It is likely to continue with intraday corrections.
The crucial resistances are in the region of "6326-58". How Nifty will manage that zone would be keenly watched for..
Critical support has risen now to "6229-36". Continue to close above DHEma would keep the upward momentum intact.
Two scenarios at work as labelled in the Hour chart for ST. 80% need not negate the bearishness, only 6415.

Safest place for a ship is the harbour but it was never built to stay there....

Kamatchi was born in 1898 in Kattikulam, Tamil Nadu. Those were the days when a female child was raised with the sole purpose of getting her married off. So was Kamatchi. By stitching together subsequent events in her life, we gather that by the time she was twenty-five, she had five children from her husband, Thalakaswami. He did not care much for her, and one day just went away.

The eldest daughter was all of twelve and the youngest was two and a half years old when Kamatchi decided to take charge. We do not know how but she left Kattikulam and finally landed up in Madras in a state of destitution. She looked for work – not an easy thing in 1926. Around the same time, there were recruitment agents looking for rubber plantation workers for British clients in Malaysia.

Nifty, going briefly below Mth.pivot & WEma-6164-62, asserted its trend on the prices firmly..

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

As long as prices stay below 6306, the rise would be considered as "Corrective rise".
The only bullish scenario possible is:
A flat correction unfolding from 6130 after the fall of 6415 to 6130 having sub-waves as below: 
6130-6236-A
6236-6203(6199)-b.a
6203-6264-b.b
6264-6151-B
6151-xxxx-C
Remember the bearish scenario as well:
 6130-6236-A
6236-6203(6199)-B
6203-6264-C
6264-xxxx -Next phase of downmove...gets confirmed below 6110.
Important thing is understanding the after effects of our labels.
 When we mark a 5, a 50% min may be expected in the opp. direction.
Larger the fall that ends with divergence, larger the gain in opp. direction.
Similarly, When we mark an "abc", next big move may be expected in the opp. direction.
Shallower the rise that ends with divergence, larger the gain in opp. direction.
Weekly bearish engulfing is still valid and the sell on rises too.