Incisive Nifty Trend Analysis

[Option.Trader]

Its been a hectic year end and have been preoccupied with plenty of work. As a result updates have been irregular.

Nifty update: Trend is still up and the correction witnessed after taking out the life time high is perceived by me as a simple correction in an ongoing strong uptrend. There have been plenty of bearish voices in the media calling for a deep correction. Unfortunately these voices will be disappointed, once this correction ends. Upcoming eventful week, IMO, will provide the much needed trigger for the market to resume its uptrend. Nifty has strong support below 6150 right upto 6050. Buying on dips is suggested with a target of 6600 in the near term. Wishing one and all a very good year end trading followed by a Fantastic New year ahead.

PraDa

Thanks for the update, would you attribute the resumption of bullish sentiments in next series or the current one? Have a great year ahead

 

[prada]

Thanks OT. I anticipate the uptrend to resume in this series itself and continue into the first half of the next series.

Thanks for the update, would you attribute the resumption of bullish sentiments in next series or the current one? Have a great year ahead

 

[Bewinner]

Its been a hectic year end and have been preoccupied with plenty of work. As a result updates have been irregular.

Nifty update: Trend is still up and the correction witnessed after taking out the life time high is perceived by me as a simple correction in an ongoing strong uptrend. There have been plenty of bearish voices in the media calling for a deep correction. Unfortunately these voices will be disappointed, once this correction ends. Upcoming eventful week, IMO, will provide the much needed trigger for the market to resume its uptrend. Nifty has strong support below 6150 right upto 6050. Buying on dips is suggested with a target of 6600 in the near term. Wishing one and all a very good year end trading followed by a Fantastic New year ahead.

PraDa

Thanks for the update Prada

 

[coolharsh20]

In my opinion Nifty should expire around 6178 region. Spot level.

Low could be above 5980 level and high could be 6196.

Lets see,if this is right.

Happy Trading!!!

Strategy: Buy at dips.
6100 CE

Will get back on this at expiry.

 

[Stock trendy]

folks revive this active thread wish Mr. prada a very happy new year 2014

 

[prada]

Thank you ST and Wishing you and one and all at TJ a Very Very Happy and Prosperous New Year 2014. I hope and pray that all of you are kept in good health by the almighty and make alot of money this year and the years to come.

There is nothing much to update about this thinly traded, range bound market. My overall view on the Nifty as per my previous update is intact.

PraDa

folks revive this active thread wish Mr. prada a very happy new year 2014

 

[prada]

Nifty Update: With so many bearish voices doing the rounds, Nifty is bound to make a surprise upmove within the next few sessions. There has been no visible thrust in the down move seen so far in the index and has found buyers at every important levels. 6050-6150 is an extremely strong/critical support band and a strong bounce back is only a matter of time. Short sellers need to exercise extreme caution in selling the index at current levels.

PraDa

 

[sridhar]

In Nifty F1 I am seeing a gap, in Daily charts, between 6152.85 & 6101. Looks like it will be filled before any upmove.

For any secular up move a large gap between 5769.27 & 5701.67 also may need to be filled. This is also inline with our expectations that the market will drift lower on pre-election jitters till March.

 

[prada]

Alright, First positional trade of the year. Buying Nifty future @ 6185 , Stop- 6100(closing), Target 6500. Going against the short term trend.

PraDa

 

[Stock trendy]

Alright, First positional trade of the year. Buying Nifty future @ 6185 , Stop- 6100(closing), Target 6500. Going against the short term trend.

PraDa

Indeed the sl is not too for away..:thumb: