JUST AN INSIGHT

26 set 2017

If we see the up move from 6695 to 10,178 took 39 days. of labored hard up move vanished in 7 days of price correction. Now 9813 price is showing some demand why, because where I have put the dotted lines nifty has bounced multiple times from that price area. even if you see to the left of 6695 price action , price broke out to the upside with as many as 18 bars, but the fall to 6695 was very swift. why , what is happening over here?, if you see the green we feel trend line broken. will the big boys let go off this support 6695, i feel not soon. earnings are going to start now, so it is possible that nifty may see some revrsal over here and consolidation. and nifty may see another up-move before unwinding, or it may try to retest the low of 6695 or fall short of it, patience is the key. for this downmove pull back levels are 10000 or 9993. Though I am not a pattern trader, inverted W is formed at the top of the trend where right of the W is more than the left, and also you can call it M pattern, Earnings will try to may keep the nifty not falling below 6695, once it breaks you may see the levels of 6300 on nifty. so drag on time now. This time pull back is the time for big correction? But the price action is whispering , I am TIRED.

27 set 2017

Nota

today nify has t aken support at 9714. l