Incisive Nifty Trend Analysis

[prada]

Trailing the SL to 6240(closing) spot level. Trade has played quite well so far. Nifty was looking quite over bought on the hourly chart and needed to cool off a bit. Will look to add onto the position in the range 6260-6280(spot).

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

PraDa

 

[Novice30]

Only elections or a big global event can take Nifty to 6500.

 

[Option.Trader]

Trailing the SL to 6240(closing) spot level. Trade has played quite well so far. Nifty was looking quite over bought on the hourly chart and needed to cool off a bit. Will look to add onto the position in the range 6260-6280(spot).

Prada,

Does the second failure of nifty to take out the highs signify failure of the uptrend? The current rally looked a lot like distribution rather than a secular run up?Would you term this as top of the market before the elections or would it denigrate into a range until election results become more clear.
Clearly AAP has changed the sentiments of global investors into negative, even if lifting the sentiments of common man

 

[prada]

OT, market movement off late has been very confusing to me as it has been to you and others. However a quick glance at the chart gives me a hint that the ongoing pattern is that of a flag formation, if so, then we see a retest of 6130-6140 area again before the resumption of the uptrend. Its been a treacherous market for option/positional traders with lack of clarity. Either way, a very big move is about to unfold soon.

PraDa

Prada,

Does the second failure of nifty to take out the highs signify failure of the uptrend? The current rally looked a lot like distribution rather than a secular run up?Would you term this as top of the market before the elections or would it denigrate into a range until election results become more clear.
Clearly AAP has changed the sentiments of global investors into negative, even if lifting the sentiments of common man

 

[Stock trendy]

Prada,

Does the second failure of nifty to take out the highs signify failure of the uptrend? The current rally looked a lot like distribution rather than a secular run up?Would you term this as top of the market before the elections or would it denigrate into a range until election results become more clear.
Clearly AAP has changed the sentiments of global investors into negative, even if lifting the sentiments of common man

Yes it looks like distribution from huge dip to test 5120 in Aug.and then sharp
up move to test 6420.
Looking for weekly close below 5950 for long term trend become negative Good observation:thumb:..

 

[Stock trendy]

OT, market movement off late has been very confusing to me as it has been to you and others. However a quick glance at the chart gives me a hint that the ongoing pattern is that of a flag formation, if so, then we see a retest of 6130-6140 area again before the resumption of the uptrend. Its been a treacherous market for option/positional traders with lack of clarity. Either way, a very big move is about to unfold soon.

PraDa

Dear PraDa Spot broken your levels what next.
Eagerly looking forward to your comments...
though it is not too far away from your support level
to me sell on rise short term sl at 6230 medium term sl at 6360

 

[prada]

Nifty is very critically poised with the short term trend pointing to the downside. It has been a very complicated market over the last couple of months to say the least. Will wait for some clarity to emerge before taking the next trade and Will post an update once some visible thrust is seen. The next couple of weeks will be an interesting one.

Levels to watch- Support- 6030- 5998- 5970-5930 Resistance- 6120- 6150-6195-6220.

Dear PraDa Spot broken your levels what next.
Eagerly looking forward to your comments...
though it is not too far away from your support level
to me sell on rise short term sl at 6230 medium term sl at 6360

 

[Option.Trader]

Nifty is very critically poised with the short term trend pointing to the downside. It has been a very complicated market over the last couple of months to say the least. Will wait for some clarity to emerge before taking the next trade and Will post an update once some visible thrust is seen. The next couple of weeks will be an interesting one.

Levels to watch- Support- 6030- 5998- 5970-5930 Resistance- 6120- 6150-6195-6220.

Interesting to see if nifty holds 5970 again this time, but it has given 350 points on the downside, wonder how many were able to catch this downshift
All moves are in range of 300 points for at least a year now, just matter of catching the tide and holding on to ride

 

[prada]

Nifty: Entering a tentative long here at CMP 6005 spot. We are very close to 200 EMA and bounce back is on the cards. Also Nifty looks extremely oversold on hourly, 4 hourly and daily charts.

 

[jassinko]

Nifty: Entering a tentative long here at CMP 6005 spot. We are very close to 200 EMA and bounce back is on the cards. Also Nifty looks extremely oversold on hourly, 4 hourly and daily charts.

sir...target will be 6120........rt?