Incisive Nifty Trend Analysis

[prada]

Truly a weather man's prediction, Isn't it? wagging tongues can keep wagging as long as it wants! No compulsion for anyone to visit this thread if one finds it useless. After a long time I'm replying to a detractor's post!

Nifty Update: Having taken out 5666, we are now very sensitively poised. 5630 is the key level now. If this holds, we should a test of 5850 very quickly. All the best to your trading!

 

[timepass]

A single news can nullify all predictions... the main issue with prediction is the timing... eventually like you say it may come down to test 5400.. but the important thing is timeframe... if we test 6000 and then reach 5400 we wont be able to take a profitable trade with the predictions mentioned...
I do agree with your broad statements... but these are like weather predictions... only the weather man steps outside with an umbrella when it is sunny...

Truly a weather man's prediction, Isn't it? wagging tongues can keep wagging as long as it wants! No compulsion for anyone to visit this thread if one finds it useless. After a long time I'm replying to a detractor's post!

:clap::clap:

Superb thrust an parry, guys :thumb:

Weatherman's prediction quite an apt analogy. The snake is unpredictable anyway.

Nice beginning of the weekend

 

[TraderRavi]

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[Option.Trader]

Truly a weather man's prediction, Isn't it? wagging tongues can keep wagging as long as it wants! No compulsion for anyone to visit this thread if one finds it useless. After a long time I'm replying to a detractor's post!

I do find the thread useful...its just that i find it incredibly hard to trade on... for eg.. the last time you were bearish since 5850 and you held the view till it reached 6200...even now.. it didn't hold 5630 but rather 5570 which it touched multiple times...and even now i agree on the view of a long term downtrend with pullbacks being played intermittently... but the swings are so vicious that it either takes you out or does not allow you to enter...
anyone can foretell a level... i can say to a certain degree that the nifty is more likely to test 5477 before retesting 6200 going forward... but without a timeframe it becomes meaningless as its just like a economist theory.. telling everything about what you already know without giving a hint of how to fix it

 

[prada]

Please check the date and time of my post. At the time of my post Nifty spot was trading at 5670, it held 5630 and went on to hit my target of 5850 within 24 hrs. There are plenty of visitors( who have the gentle courtesy in acknowledging the same through PMs) of this tread who have made alot of money through the posts made out here. Just take some time out in reading the posts properly before getting into a trade in haste. Lets put this topic to rest at this!

I do find the thread useful...its just that i find it incredibly hard to trade on... for eg.. the last time you were bearish since 5850 and you held the view till it reached 6200...even now.. it didn't hold 5630 but rather 5570 which it touched multiple times...and even now i agree on the view of a long term downtrend with pullbacks being played intermittently... but the swings are so vicious that it either takes you out or does not allow you to enter...
anyone can foretell a level... i can say to a certain degree that the nifty is more likely to test 5477 before retesting 6200 going forward... but without a timeframe it becomes meaningless as its just like a economist theory.. telling everything about what you already know without giving a hint of how to fix it

 

[prada]

Market Update: Currency of any country exposes the underlying state of the economy. Like I've always maintained (ever since USD/INR was trading at 53-54 levels) that our currency will be the first asset class to expose the underlying state of our economy. Equity markets and other asset classes will follow suit. Since, 2010, INR has depreciated by 42%, whereas Equity markets did fall 28 % but has ever since retraced most of the losses. However, since then INR has continued to depreciate further. Simple maths, considering the quantum of INR depreciation, would put out a target of 4000 for Nifty. In the current scenario, although a target of 4000 looks far fetched; looking at the current state of the economy , one cannot rule out this possibility! Interesting times ahead and let the market do the talking.

Coming to Nifty at present... Technically speaking, Nifty is currently in a no trade zone wherein strong whipsaws are possible. A close below 5730 will give the first opportunity for aggressive traders to go short in the market. Conservative traders need to wait for a breach of 5566 to go short. Breach of 5566 will lead to capitulation setting into the market with a downside target of 4900. Breach of the recent high-5904 will negate this view. All the best to your trading!

 

[Bewinner]

Market Update: Currency of any country exposes the underlying state of the economy. Like I've always maintained (ever since USD/INR was trading at 53-54 levels) that our currency will be the first asset class to expose the underlying state of our economy. Equity markets and other asset classes will follow suit. Since, 2010, INR has depreciated by 42%, whereas Equity markets did fall 28 % but has ever since retraced most of the losses. However, since then INR has continued to depreciate further. Simple maths, considering the quantum of INR depreciation, would put out a target of 4000 for Nifty. In the current scenario, although a target of 4000 looks far fetched; looking at the current state of the economy , one cannot rule out this possibility! Interesting times ahead and let the market do the talking.

Coming to Nifty at present... Technically speaking, Nifty is currently in a no trade zone wherein strong whipsaws are possible. A close below 5730 will give the first opportunity for aggressive traders to go short in the market. Conservative traders need to wait for a breach of 5566 to go short. Breach of 5566 will lead to capitulation setting into the market with a downside target of 4900. Breach of the recent high-5904 will negate this view. All the best to your trading!

Excellent prada as usual no doubt on ur analysis...and first time I am seeing some replies from ur front against all kind of criticism...just great and thank u...

 

[anup]

Haters may hate.. You continue your good job...

 

[bajica]

Market Update: Currency of any country exposes the underlying state of the economy. Like I've always maintained (ever since USD/INR was trading at 53-54 levels) that our currency will be the first asset class to expose the underlying state of our economy. Equity markets and other asset classes will follow suit. Since, 2010, INR has depreciated by 42%, whereas Equity markets did fall 28 % but has ever since retraced most of the losses. However, since then INR has continued to depreciate further. Simple maths, considering the quantum of INR depreciation, would put out a target of 4000 for Nifty. In the current scenario, although a target of 4000 looks far fetched; looking at the current state of the economy , one cannot rule out this possibility! Interesting times ahead and let the market do the talking.

Coming to Nifty at present... Technically speaking, Nifty is currently in a no trade zone wherein strong whipsaws are possible. A close below 5730 will give the first opportunity for aggressive traders to go short in the market. Conservative traders need to wait for a breach of 5566 to go short. Breach of 5566 will lead to capitulation setting into the market with a downside target of 4900. Breach of the recent high-5904 will negate this view. All the best to your trading!

All figures quoted above are the Nifty Spot rates I presume. Also all levels specified above are for closing basis or just intraday levels too.

Sorry for posting such a query, but as I am new, thought it prudent to clear it for my as well as anybody else's benefit.

 

[prada]

All levels posted here are spot levels(not on closing basis) only, unless specified. Those looking for scalping opportunity can go long above 5904. Resistances now stands at 5930-5975-6085. Overall view on Nifty still remains intact until clarity emerges.