Nifty continued to drift down and close at 5652.15.It touched an intraday low of 5647.05.Open Interest decreased with Increasing volumes, and since the price decreased, it meant that weak longs have closed out their positions and new shorts did not get created. Also shorts in profit may have exited.
The above 15 min intraday chart of Nifty, shows the minor waves in a triangular formation. the final
"e " leg down is close to ending.Today was the fourth day of down move and looking at the technical internals, a bounce looks likely tomorrow.
Till 14.01 Moon is in Mercury star and the down drift is expected to continue. Post 14.01, Moon enters Leo and Ketu is the star lord.Markets may bounce back after 2 pm tomorrow.
Here is the medium term chart:
5640 is the first crucial level. Will it break tomorrow. Maybe, maybe not.It does not matter. If the market turns up then hold on for a rise because we enter the green period next week. Possibly we will be in wave b of 4 next week.
8 comments:
very good observations !
market bounced as per yr plan.....
your analysis is good combining both astro and technical, really good.
All though i dont know anything abt astro i generally look in your content to confirm.
Really good.
Very good unbiased analysis as usual, keep continue good work.
Hello,
Very Good job Keep it up.. I use to read your post regularly. for Astrological inputs. I use EW, Gann and Fibbo for day trading. And learning Astology can you please suggest some good books and a software which can be used for Astro technical charts?
Thanks in Adv.
Thanks Pankaj, for your encouragement.
Warm Regards,
Suresh
Dear Jinoy,
Thanks. Astro can be used just like a lead indicator. You do not have to know very sophisticated techniques in Astrology. Simple, axioms are enough.
Warm Regards,
Suresh
Dear K.P.Singh,
Thanks for your kind words.Nice to know that you all find my posts cuseful.
Warm Regards,
Suresh
Dear pmondal,
Interesting to know that you use EW,Gann and Fibo for day trading. Please share your techniques for the benefit of rest of us.
Regarding books nothing to beat the original KP Readers of the great Master, Krishnamurti. Astrosage offers free charting facilities in their website.You may also try KP Star one.
Warm Regards,
Suresh
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