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.