Friday, October 28, 2011

NSE Nifty Technical Update 28-10-2011

Since our 5350-5400 target has been hit, it is time to re-evaluate the future course for nifty.

For now we remain bullish, till we have evidence to think other wise.

Obvious Bullish evidences..
1. Nifty broke above 5200 (a good resistance) swiftly which further validates our bullish view.
2 .Todays (28-10-2011) volume were at a 7-8 month high.(highest since April 2011)
3. TV commentators have been bearish.
4. Momentum is rising.

Stoploss for Bullish view:
5160 for now. (Stoploss is a absolute must, irrespective of however strong view a trader can have)

If you have any views, I would love to read them, please use the comments below to write.

Chart Attached..

Saturday, October 22, 2011

Nse Nifty Technical Analysis 22-Oct-2011

In continuation of the previous post, we now have a stop loss at 4900 for the bullish view of nifty reaching 5350 and 5400.. Chart Attached.

Monday, October 10, 2011

>Technical Update 10 October 2011 NSENifty

In the August 20, 2001 Technical Update it was pointed was 4600-4650 is a strong support for NSE and that it is quite likely to hold. (As against popular perception of breaking down to close to 4000 levels).

For now positive dievrgence can be easily seen on Momentum indicators and stiff resistance is posed at 5350 to 5400 area.

For those who did buying at around 4800 levels..Hold on. We shall see how it moves up.!

Analysis at Risk if NSE Breaks and Closes below 4900 anytime soon.

Chart attached.

Monday, August 22, 2011

>Technical Update 20 August 2011 NSENifty

In continuation of earlier post..

(NSE-4843 at time of this post.)

Precise technical area for current downmove to end is around 4600 to 4650,which i think can happen in 2 weeks.

(Close above 5200 would force review of the above view)

4600 to 4800 is thick support area for nifty and buying should be done in this area.

Many midcaps and large cap stocks are quite cheap..!

Thursday, August 11, 2011

>Technical Update 11 August 2011 NSE DOW NASDAQ

Dow (10719) - Chart structure suggests that this downmove is first part of a larger downmove which can take 3 to 6 months to complete. The first phase of downmove can complete around 9500-9750 area from where we can see a bounce to 10500 to 10750 area and after that second down move can start.

Nasdaq (2381) - Similar to dow. Slip to 2200-2100 and then bounce to 2300-2400 and again slide down in second leg.

Targets and style of second leg would be discussed after seeing completion of first leg down, so watch this space again in a few days.

NSE Index (5150) - to slide a maximum to around 4700 (+or -100 points) levels from which we should see a good jump up. Can be used to buy call of 5000 levels or start short term long positions.