NIFTY 50 future TRENDS-Part 2

[trade4joisar]

As expected Price did reacted at Res. levels still holding immediate support Level
as long Res is not crossed lower levels 6030 and 5980 may be tested.
As long spot nifty holds above 5830 Trend is up towards 6400


1st Support level 6030 tested.
Spot Nifty could well trade in this range of 6030 to 6150
Break of 5980 short term uptrend could get disturbed can test next sup. 5830.

Hi SS,

How do you come to 6030 level?

About 5980, you counted it thru wave right ?

 

[SEVEN STAR]

Hi SS,

How do you come to 6030 level?

About 5980, you counted it thru wave right ?

Yes Levels are combination of EW n FIBO retracement levels
Corrective wave in progress it can be sideways i said it earlier as long top 6160 is not taken out price could be in be very tight range 5980 is very crucial.
Just look at the fate of naked option traders both calls and puts are slaughtered 6100 PE just gained 2 to 3 % though the price was dropped nearly 60 points.
watch closing above 6160 for huge surge towards 6300 to 6400..sl at 5980
Pls. note i am at very early stages of EW theory i may go wrong too.

 

[SEVEN STAR]

Yes Levels are combination of EW n FIBO retracement levels
Corrective wave in progress it can be sideways i said it earlier as long top 6160 is not taken out price could be in be very tight range 5980 is very crucial.
Just look at the fate of naked option traders both calls and puts are slaughtered 6100 PE just gained 2 to 3 % though the price was dropped nearly 60 points.
watch closing above 6160 for huge surge towards 6300 to 6400..sl at 5980
Pls. note i am at very early stages of EW theory i may go wrong too.

Nifty near to its RES. zone 6160. on closing taken over Strongly bullish.

can reverse from hear to keep the range intact (6160 to 6030)

 

[SEVEN STAR]

Closed above res. 6160
III 5318 to 6141
IV 6141 to 5701
V in progress above 6141 target 6500
V can be with fragmented 5 or 3 wave. sl 6030
count disqualify below 5701.
As per Fibo high 6201 low 5119 extension Res...6261..6357..6495
sup..6140..5945..5788

 

[SEVEN STAR]

WATCH MONTHLY CLOSING IF SPOT NIFTY CLOSE ABOVE 6200 HUGE UPSIDE POSSIBLE
FAILS TO DO WILL BE IN A RANGE 5750 TO 6250 BREAK DOWN POINT AT 5450

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[SEVEN STAR]

MONTHLY NIFTY CLOSED ABOVE ALL TIME HIGH SUP. AT 6170 AND 6080
6080 SHOULD BE SL FOR LONG POSITION RES AT 6390 6450
ULTIMATE TARGET IS AT 6700 AS LONG SL 6080 HOLDS.
ENJOY TRADING
HEARTY DIWALI WISHES TO ALL TJ FRIENDS

ATTACHING NIFTY MONTHLY LIFE TIME CHART

imgur

 

[NANDAMAD]

happy DIWALI to you too

 

[SEVEN STAR]

SPOT NIFTY HEADING HIGHER TARGETS 6500 TO 6700
SPOT TO SUP AT 6230 AND 6180 TREND CHANGE TO DOWN ONLY BELOW 6020
RETRACEMENT IS POSSIBLE.
EXIT LONGS IF SPOT NIFTY HIT 6500 AT A STRETCH AND SHORT WITH SL AT 6590
BUY AROUND 6200 TO 6100 SL AT 6020

LONG SL AT 6020 AND SHORTS SL AT 6590 FOR NOV.2013 SERIES

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[SEVEN STAR]

We had full of correction Day's after Diwali
Ref. my my earlier Chart 6230 spot should have supported this fall it fails to..
look for sup below 6140 at 6090 and 6020
trend break out only above 6340 Below 6020 Trend changes ..

upload a picture

 

[SEVEN STAR]

WEEKLY UP DATE
THERE IS SOME INDICATION THAT NIFTY COULD MOVE UP AS LONG SPOT HOLDS 5950 FROM THE BOTTOM OF 5180 TREND IS HEADING HIGH POSSIBILITY OF SIDEWAYS MOVE HIGH AT 6350 WHICH HAS FINAL SUPPORT AT 5700 WATCH CRUCIAL CLOSING ABOVE 6170
WEEKLY CHART

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