Incisive Nifty Trend Analysis

[Rish]

Here we are... Trail your stoploss and hold onto your long positions tight. We are into second week of Oct and as expected Big move coming up. Bears get ready to be slaughtered.

Expect Bank Nifty to start participating in the rally from here on. Short term target 11300.

:thumb::thumb::thumb:

 

[essem]

:thumb::thumb::thumb:

Professional Bears always Enjoy,, and they will enjoy more today

 

[prada]

Nifty update: I hope the bulls are having a party time. Trend is very much still intact. Those holding long positions in nifty can trail their stoploss(strictly) to 6000 on a closing basis. Ones looking to add positions can wait for a shallow correction to enter. No meaningful correction is in sight until nifty scales to its 52 week high. Frustrating times ahead for the bears.

 

[DSM]

Market sentiments can also be gauged by Mr. prada's icon. It changed from a green cow to now a bull goring a bear....

Nifty update: I hope the bulls are having a party time. Trend is very much still intact. Those holding long positions in nifty can trail their stoploss(strictly) to 6000 on a closing basis. Ones looking to add positions can wait for a shallow correction to enter. No meaningful correction is in sight until nifty scales to its 52 week high. Frustrating times ahead for the bears.

 

[prada]

Absolutely DSM. It has been a while since market has given me this much of confidence to be bullish. The last sign I am waiting for is for the market to take out its life time high decisively to nail this 100% as the mother of bull markets. Market environment has never been this conducive. I am quite hopeful that the long wait we've had all these years will finally give way on the upside.

Market sentiments can also be gauged by Mr. prada's icon. It changed from a green cow to now a bull goring a bear....

 

[sanjeev258380]

Prada can u giv levels to watch...how much upside u expect

 

[prada]

Sanjeev, Immediate supports- 6056(today's low)- Gap area( 6034-6046)- 6023-6002(10ema). Combine this with the retracement levels to determine strong supports. Resistances- 6120- 6156- 6182-6210-6229. I see Nifty testing 6230 in the short term.

Prada can u giv levels to watch...how much upside u expect

 

[sanjeev258380]

Thx prada sir for levels

 

[prada]

Sorry about this late reply, I had overlooked this post. Retracement levels are always calculated based on Highs/Lows only.

Thanks a lot. I am working out a strategy for trading in Nifty Options with a time frame of 4 - 10 days. I have also found MA & Fibonacci along with SR levels (on daily time frame) give good results. I want to know whether to use High/Low levels or Open/Close values ( on daily charts) to calculate Fibonacci
levels?

Thanks

 

[Relish]

Can only IT stocks and few bank stock take market to new high where inflation and buying capacity of consumer going down ?