FOLLOW UP

Yesterday at 7:52 am in this post (http://kolhapuritrader.blogspot.in/2012/03/follow-up-5-will-it-repeat-show-once.html ) the short term possibility is predicted ------ "SHORT TERM VIEW -- Now if yesterdays low (5327.55) is not broken  then NIFTY will target 5500 in this week"   AND today in opening move only it made high of 5499.40 means short term target ALMOST achieved.
  So according to technical analysis who bought NIFTY at yesterday's open price 5391.1 must have rewarded with profit of 108.3 points.

FOLLOW UP 5 - WILL IT REPEAT THE SHOW ONCE AGAIN ?

On 5'th march in this link http://kolhapuritrader.blogspot.in/2012/03/follow-up-nifty-in-triangle.html it has been mentioned that- "So now it looks like that, it will target 5100, at least 5200 this week." and once again as per expectation last week it made low of 5171.45.
          As we are mentioning repeatedly on this blog Indian market is entering new bull market. We first posted regarding this possibility on 24 Jan 2012 ( see link - http://kolhapuritrader.blogspot.in/2012/01/drama-will-it-repeat-show-once-again.html ). Now one by one it is giving new clues and confirming that it is  bull market.

According to technical analysis BULLS ( UPTREND) lives above 200 SMA ( or 200 EMA) and BEARS (DOWNTREND) lives below  200 SMA ( or 200 EMA). Now last week even though short term trend is down after correction NIFTY taken support around 200 SMA and EMA ( see chart)



         On 24 Feb we mentioned regarding possibility of GOLDEN CROSS  in this post ( link - http://kolhapuritrader.blogspot.in/2012/02/follow-up-4-will-it-repeat-show-once.html ) which has been all ready happened.

        In technical analysis some traders/ investors look for exponential moving averages (E.M.A.), while some look for simple moving averages (S.M.A.)
        Now see the chart below and what happened yesterday -----

 You can see that  50 SMA crossed above  200 SMA yesterday that means one more GOLDEN CROSS happened yesterday. Thus one more clue got confirmed that we are in BULL MARKET. 

SHORT TERM VIEW -- Now if yesterdays low (5327.55) is not broken  then NIFTY will target 5500 in this week ( on 14'th march inflation data will be out, on 15'th R.B.I. policy and on 16'th  UNION BUDGET will be there so possibility of lot of volatility during this week so short term traders should follow there stop losses strictly).

LONG TERM VIEW --- As we have mentioned on 24'th Jan (http://kolhapuritrader.blogspot.in/2012/01/drama-will-it-repeat-show-once-again.html )  our market has entered new bull market and even though state election results not boosted market sentiments hold your investments, and if your risk profile and capital allows buy on every dips ( corrections) and hold on till long term trend is up.
Eventually looks like NIFTY will target 5500, 5700, 6000 and may even make new life time high till MARCH 2013.

DISCLAIMER: This Blog is meant for sharing my trading ideas only and no calls to be taken as trading recommendation. Visitors please do your own research or consult your advisers for safe trading.

FOLLOW UP NIFTY IN TRIANGLE

On 2'nd march it has been mentioned that nifty is trading in triangle. Let's analyze what happend next & what is possibility now  ----

On Friday (2'nd march) it gave intraday  spike above 5380, but it was not able to give hourly close above 5380. On Saturday market was open from 11:15 am to 12:45 pm & at 12 noon it gave hourly close above the upper border of triangle but without significant volume. If we don't consider volume, there looks possibility of 5600 but stop loss for this trade was hourly close below 5324. And now at 10 am it closed below 5324, as well as lower border of triangle. So now it looks like that, it will target 5100, at least 5200 this week.

Caution :- tomorrow result of U.P. election will be declared, so there is possibility of volatility which we all ready experiencing since last week.Therefore any trade should be followed with strict stop loss. Stop loss for this trade is hourly close above 5369.60

   DISCLAIMER: This Blog is meant for sharing my trading ideas only and no calls to be taken as trading recommendation. Visitors please do your own research or consult your advisers for safe trading.

SHORT TERM VIEW --- NIFTY IN TRIANGLE

Right now NIFTY is trading in triangle (height of triangle approximately 230 points. So if it gives hourly close above 5380,  it will target 5580-5600. At the same time if it gives hourly close below 5310-20, it will target 5100. Lets see which way it breaks.

DISCLAIMER: This Blog is meant for sharing my trading ideas only and no calls to be taken as trading recommendation. Visitors please do your own research or consult your advisers for safe trading.