As posted on 8 Aug in this link SHORT TERM VIEW , NIFTY started correction and on Friday it took support almost near the breakout trend line. Now if holds above this trend line and Fridays low, there are chances that once again it will try to resume its up trend.
As posted on 8 Aug only in this link LONG TERM VIEW , it has been clearly mentioned that " As
shown in the chart above there is one more resistance line on weekly
chart, near which NIFTY is trading right now. So actually if NIFTY gives
weekly close above this trend line, and also weekly close above
previous swing pivot i.e. above 5350 ( to be precise above 5348.55),
very much strength will be added to this up move ".
But nifty failed to close above this long term weekly trend line, in fact it got resisted and formed bearish grave stone doji at this trend line and started correcting.
So as of now long term trend is slightly bullish to sideways, so unless and until it gives weekly close above 5350, long term investors should not buy.
CAUTION:- The blog writers are also
learners of technical analysis and the view mentioned here are on blog
writers knowledge and inference of technical analysis, so readers are
advised to take advice from expert financial advisers or do there own
research before taking any decisions.
One more thing we like to mention:- in
technical analysis you have to change your views according to future
price action or pattern development and writers of this blog may or may
not be able to update changed views.
DISCLAIMER: This
Blog is meant for sharing our trading and investment ideas only and no calls to be
taken as trading / investment recommendation. Visitors please do your own
research or consult your advisers for safe trading, investing.
Sunday, August 12, 2012
Wednesday, August 8, 2012
SHORT TERM VIEW
BEARISH GRAVESTONE DOJI :-
Today on daily chart NIFTY formed BEARISH GRAVESTONE DOJI CANDLESTICK PATTERN which suggest there may be end of this up move for a while. This candlestick pattern will need confirmation next day. Confirmation may be in the form of tommorow's opening below today's close. The larger the gap the stronger the confirmation
will be. A black candlestick with lower prices can also
be another form of confirmation.
That means now there are chances that the price will test the upper border of triangle, which may or may not act as support.
Those who are interested for further information regarding BEARISH GRAVESTONE DOJI, can visit this link http://www.candlesticker.com/Cs46.asp
DISCLAIMER: This Blog is meant for sharing our trading and investment ideas only and no calls to be taken as trading / investment recommendation. Visitors please do your own research or consult your advisers for safe trading, investing.
.png) |
| NIFTY - DAILY |
That means now there are chances that the price will test the upper border of triangle, which may or may not act as support.
Those who are interested for further information regarding BEARISH GRAVESTONE DOJI, can visit this link http://www.candlesticker.com/Cs46.asp
DISCLAIMER: This Blog is meant for sharing our trading and investment ideas only and no calls to be taken as trading / investment recommendation. Visitors please do your own research or consult your advisers for safe trading, investing.
LONG TERM VIEW
Even though fundamentals of Indian and world economy are not supporting technicals are suggesting possibility of long term up move ( at least for next 2-3 years ). In Nov 2010 NIFTY / SENSEX after testing the previous high made in 2008 started there downward journey. And as of now made bottom in DEC 2011.
The chart given above is weekly chart. During down move from Nov 10, it formed downward moving trend line which acted as resistance for 4 times. Finally in Feb 12 NIFTY able to breakout above the resistance line. After breakout NIFTY tested the trend line in May n June when previous resistance line acted as support.
As shown in the weekly chart above, NIFTY after breakout above resistance line consolidated ( i.e. traded in a narrow range) and in the process formed a triangle pattern. Yesterday it gave breakout from this triangle pattern on daily closing basis. So now it may target 5550-5600 with intermittent correction, meanwhile it may correct and may test upper boundary of the triangle.
CAUTION:- in market breakouts may fail, and you have to change your views according to future price action with proper stop losses.
.png)
As shown in the chart above there is one more resistance line on weekly chart, near which NIFTY is trading right now. So actually if NIFTY gives weekly close above this trend line, and also weekly close above previous swing pivot i.e. above 5350 ( to be precise above 5348.55), very much strength will be added to this up move
SO IN SHORT, IF NIFTY GIVES WEEKLY CLOSE ABOVE 5350 ONE CAN SAFELY BUY QUALITY STOCKS OR MUTUAL FUNDS FOR INITIAL TARGET OF 5600. AND IF THINGS GO WELL IT MAY TARGET 6300 IN APR-JUNE QUARTER OF 2013.
THE STOP LOSS FOR THIS VIEW AS OF NOW IS WEEKLY CLOSE BELOW 5030 ( TO BE PRECISE BELOW 5032.40 ). i.e. IF NIFTY GIVES WEEKLY CLOSE BELOW 5032.40 YOU SHOULD EXIT ALL YOUR BUY POSITIONS.
IF NIFTY GIVES WEEKLY CLOSE ABOVE THE RESISTANCE LINE AND 5350 THERE WILL BE HIGH PROBABILITY THAT IN NEXT 2-3 YEARS IT MAY REACH 10,000. SO IF IT GIVES WEEKLY CLOSE ABOVE THE LEVELS MENTIONED ABOVE AND ONE IS READY TO ACCEPT LOSS OF 6-10% FOR A POSSIBILITY OF DOUBLING CAPITAL WITHIN NEXT 2-3 YEARS ONE CAN BUY QUALITY STOCK / MUTUAL FUND WITH STOP LOSS OF WEEKLY CLOSE BELOW 5030.
CAUTION:- The blog writers are also learners of technical analysis and the view mentioned here are on blog writers knowledge and inference of technical analysis, so readers are advised to take advice from expert financial advisers or do there own research before taking any decisions.
One more thing we like to mention:- in technical analysis you have to change your views according to future price action or pattern development and writers of this blog may or may not be able to update changed views.
DISCLAIMER: This Blog is meant for sharing our trading and investment ideas only and no calls to be taken as trading / investment recommendation. Visitors please do your own research or consult your advisers for safe trading, investing.
 | ||
| NIFTY - WEEKLY |
.png) |
CAUTION:- in market breakouts may fail, and you have to change your views according to future price action with proper stop losses.
.png)
SO IN SHORT, IF NIFTY GIVES WEEKLY CLOSE ABOVE 5350 ONE CAN SAFELY BUY QUALITY STOCKS OR MUTUAL FUNDS FOR INITIAL TARGET OF 5600. AND IF THINGS GO WELL IT MAY TARGET 6300 IN APR-JUNE QUARTER OF 2013.
THE STOP LOSS FOR THIS VIEW AS OF NOW IS WEEKLY CLOSE BELOW 5030 ( TO BE PRECISE BELOW 5032.40 ). i.e. IF NIFTY GIVES WEEKLY CLOSE BELOW 5032.40 YOU SHOULD EXIT ALL YOUR BUY POSITIONS.
IF NIFTY GIVES WEEKLY CLOSE ABOVE THE RESISTANCE LINE AND 5350 THERE WILL BE HIGH PROBABILITY THAT IN NEXT 2-3 YEARS IT MAY REACH 10,000. SO IF IT GIVES WEEKLY CLOSE ABOVE THE LEVELS MENTIONED ABOVE AND ONE IS READY TO ACCEPT LOSS OF 6-10% FOR A POSSIBILITY OF DOUBLING CAPITAL WITHIN NEXT 2-3 YEARS ONE CAN BUY QUALITY STOCK / MUTUAL FUND WITH STOP LOSS OF WEEKLY CLOSE BELOW 5030.
CAUTION:- The blog writers are also learners of technical analysis and the view mentioned here are on blog writers knowledge and inference of technical analysis, so readers are advised to take advice from expert financial advisers or do there own research before taking any decisions.
One more thing we like to mention:- in technical analysis you have to change your views according to future price action or pattern development and writers of this blog may or may not be able to update changed views.
DISCLAIMER: This Blog is meant for sharing our trading and investment ideas only and no calls to be taken as trading / investment recommendation. Visitors please do your own research or consult your advisers for safe trading, investing.
Monday, August 6, 2012
LONG TERM VIEW--- WILL NIFTY SEE 5600 WITHIN MONTH ?
The question coming to our mind will nifty see 5600 level by first or second week of Sept ? The answer is yes if and only if it trades above 5030 on weekly closing basis.
If time permits will post detail technical analysis for same later on so please keep following.
DISCLAIMER: This Blog is meant for sharing our trading and investment ideas only and no calls to be taken as trading / investment recommendation. Visitors please do your own research or consult your advisers for safe trading, investing.
If time permits will post detail technical analysis for same later on so please keep following.
DISCLAIMER: This Blog is meant for sharing our trading and investment ideas only and no calls to be taken as trading / investment recommendation. Visitors please do your own research or consult your advisers for safe trading, investing.
SHORT TERM VIEW
Today nifty opened gap up and gave breakout from INVERSE HEAD AND SHOULDER PATTERN, as shown in the hourly chart below.
The rough target for this breakout will be 5425-5450. For this to achieve NIFTY should trade above the neck line. If NIFTY gives hourly close below neckline then this trading pattern will get negated.
As of now the overall trend of market is sideways (range bound) trade cautiously and follow the stop losses with strict discipline.
DISCLAIMER: This Blog is meant for sharing our trading and investment ideas only and no calls to be taken as trading / investment recommendation. Visitors please do your own research or consult your advisers for safe trading, investing.
.png) |
| NIFTY HOURLY |
As of now the overall trend of market is sideways (range bound) trade cautiously and follow the stop losses with strict discipline.
DISCLAIMER: This Blog is meant for sharing our trading and investment ideas only and no calls to be taken as trading / investment recommendation. Visitors please do your own research or consult your advisers for safe trading, investing.
Subscribe to:
Posts (Atom)