NIFTY 50 future TRENDS-Part 2

[SEVEN STAR]

present process of this uptrend to continue first of all Spot nifty have to cross and close above 5645 if that happens the short term trend reversal is confirmed...POSTED EARLIER..


WAITING FOR SPOT NIFTY TO TEST NEXT RES..5777

When market is moving towards in a direction it is simple to fallow it..
just look at our perception how strong we are to force ourselves and go against it..!! have to pay big price for it.. ..5650 was break out i said it before..Traders are expecting break down.and market to crash.. !!
Always remember any Res. level broken with gap up and sustained for more than 2/3 hours is the indication of a rally at least for that day...
If some one do not want to go long at least avoid going short..

Keep stop at 5680 on closing continue the ride .. double your long above..5777
which is double top break out and 5815 is the main peak to be taken out..
Market may not give much chance now till it reach it is high .. may be 6000 +
It will be disaster for going short now

 

[SEVEN STAR]

A chart to support my earlier statement

 

[SEVEN STAR]

Spot nifty made recent high at 5777 and then went down to test low at 5548
present process of this uptrend to continue first of all Spot nifty have to cross and close above 5645 if that happens the short term trend reversal is confirmed.
The next meaning full resistance comes at 5777.
If 5777 too successfully taken out trend reverses totally bullish.. can expect much higher levels...SL.. for long trade is 5580
RIL is one stock i look at, this stock could lead the rally An Index heavy weight stock..760 is very strong sup.
Dan Ji to your caliber if you still not able to understand i cant help it

Nifty is there at my expected level 5777

 

[prabhsingh]

Nifty is there at my expected level 5777

Yes but its very close to 5777.I think we should give it couple of hrs to see whether it still stays there specially when Europe opens or to be more safer we can wait till EOD.What are your thoughts?

 

[madmax]

there is evry possibility that tom will be a bloodbath....if not EOD today

even if nifty crosses 5800 decisively....it is still on low volumes indicating a trend reversal...and then it will have created a double top

madmax

 

[SEVEN STAR]

yes but its very close to 5777.i think we should give it couple of hrs to see whether it still stays there specially when europe opens or to be more safer we can wait till eod.what are your thoughts?

given levels are spot nifty eod..

 

[Arsh]

Goldman has pegged December 2013 Nifty target at 6,600 points
Gains in Asian shares, Goldman's India upgrade, end of parliament deadlock over FDI --- all seem to be supporting market sentiment... :clap:

 

[SEVEN STAR]

When market is moving towards in a direction it is simple to fallow it..
just look at our perception how strong we are to force ourselves and go against it..!! have to pay big price for it.. ..5650 was break out i said it before..Traders are expecting break down.and market to crash.. !!
Always remember any Res. level broken with gap up and sustained for more than 2/3 hours is the indication of a rally at least for that day...
If some one do not want to go long at least avoid going short..

Keep stop at 5680 on closing continue the ride .. double your long above..5777
which is double top break out and 5815 is the main peak to be taken out..
Market may not give much chance now till it reach it is high .. may be 6000 +
It will be disaster for going short now

will be disaster for going short
Keep stop at 5680 on closing continue the ride .. double your long above..5777..
5830...BOOKED SOME PROFIT NOW..

 

[aswathyrajeev]

dear all,
New to this forum, but been to technical analysis since 2006 not much of a trader since i am working in another area, but would like to put in my analysis of the market to add another dimension to the view of others, what i feel is market is due for a steep correction, this should happen when everything will look extremely bullish. This market running on thin volume could be manipulated just look at NIFTY EOD chart as well as weekly chart to clearly see a divergence of RSI and the INDEX movement.Same is the case with all major stocks,my gut feel is we should see a reversal in nifty in the range 5850-5875 RANGE to be precise i think 5873 is the trend reversal point i got it right during the correction last time and i hope to do the same unless this mkt gets manipulated again

 

[gunsho]

to be precise i think 5873 is the trend reversal point i got it right during the correction last time and i hope to do the same unless this mkt gets manipulated again

There are many posts about bullishness when going down and now bearishness while going up. You might be correct.

Everything is usual expect your last line, which is thoughtful. So if market goes as you expected it is normal, otherwise it is being manipulated . So who might be manipulating the market against the technicals/analysis/expected behavior