Thursday, August 28, 2014
BankNifty Pre-Market View.
BN, having rallied from 15503, has two options:
Continue the rally till 15795-840 and reverse. OR
Holding the last rise retrace from 15670, move higher as in "5th"
Continue the rally till 15795-840 and reverse. OR
Holding the last rise retrace from 15670, move higher as in "5th"
Wednesday, August 27, 2014
BankNifty Pre-Market View.
BN seems to have completed the 4th wave with a break of the channel.Hence, monitor the retraces from the low of 15503 to manage your trades.
Alternatively, keep an eye on the retrace of the fall from 15973 to 15503 for resistances around the cluster zone of "15781 to 15845", coincides with 61.8% & 73.6%.
With the "Trend" intact and hour technicals completing their corrective move from OB to OS zone, prices have resumed their uptrend.
Alternatively, keep an eye on the retrace of the fall from 15973 to 15503 for resistances around the cluster zone of "15781 to 15845", coincides with 61.8% & 73.6%.
With the "Trend" intact and hour technicals completing their corrective move from OB to OS zone, prices have resumed their uptrend.
Tuesday, August 26, 2014
BankNifty Pre-Market View.
Divergences reveal underlying weakness of the last rise which is from 15458.
It asks you to be vigilant and when it breaks the 2-hour low, it accelerates the fall.
Divergences, generally, take the price to the point from where the divergences started. This is just a guiding factor.
During such a fall, if other technicals change, accept them and follow.
It asks you to be vigilant and when it breaks the 2-hour low, it accelerates the fall.
Divergences, generally, take the price to the point from where the divergences started. This is just a guiding factor.
During such a fall, if other technicals change, accept them and follow.
Monday, August 25, 2014
BankNifty Pre-Market View.
BN has shown negative divergences; weakness would be below 15800 and around 15860-895.
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