NIFTY 50 future TRENDS-Part 2

[SEVEN STAR]

I said earlier on a strong note the time spot nifty trades above 5650 is positive and total trend reversal at 5777... i never been guessing it with other expected news flows.
Now.. 5640 spot is strong support for positional traders and 5770 is immediate support.. less chance to correct more than 50..70 points..
5944 high made on 6th Apl. 2011.. this level is going to be next res..
Any way it is simple logic.. the FII's who are pupping billions of $ in our market obviously have to pay Dividend and Bonus to their investors.. on Christmas and New Year..
Bali ka bakra we the Indian retail traders.......

Big Crash.. or big rally always unexpected ...be ready for it...all the time..
if any one trade purely only by technicals .. nothing matters to bother about..

 

[SEVEN STAR]

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

Yes.. your correct in saying 5870 level could be Res..as per daily one year chart TL..This is is going to be next important level a trader to watch out.. i doubt this level is going to be a big problem to take out ...let us see..
up date your Technical views you are well come...

 

[aswathyrajeev]

there is a trap in the VOTING in FDI as well, by monday or tuesday both SP AND TMC might decide to vote against the FDI in a dramatic manner, because they are in the best position to face polls compared to congress as well as BJP. And Mulayamji could even aspire to be the next PM if he sweeps the UP.

 

[SEVEN STAR]

Spot Nifty..TL Res. around 5865/5870 very crucial watch out this level
NF.. have to trade above 5890.. for intra day strength res.. 5906...5926
lower sup.. levels.. 5871... 5855..5836

 

[NANDAMAD]

@SEVEN STAR

Thank you for your timely guidnce bro.
regards.

 

[SEVEN STAR]

@seven star

thank you for your timely guidnce bro.
Regards.

5906 hit... spot.. 5865 ..also hit

 

[SEVEN STAR]

Spot Nifty..TL Res. around 5865/5870 very crucial watch out this level
NF.. have to trade above 5890.. for intra day strength res.. 5906...5926
lower sup.. levels.. 5871... 5855..5836

have to trade above 5890.. for intra day strength res.. 5906...5926
Day's high ... 5926......

 

[SEVEN STAR]

Technical support now at 5805 and 5780....
If any one missed the chance going long try and get in all possible correction keep final SL at 5650 on weekly closing...Res.. 5940.. 6030..6120..6200
weekly chart attached
http://img37.imageshack.us/img37/3685/bakedchart5.png

 

[SEVEN STAR]

Next Res. at 5930........if spot trades above 5885..

As long Spot Nifty trades below Friday's high 5885..

Monday intra day sup... at 5871..5855,,5836..
Res.5890..5909..5930...all spot levels


Fibo levels to look for support.5805..5756..5716
Retracement levels as per chart i strongly feel Nifty to cross 6000+ as long 38.2 level around 5760 holds..

 

[Arsh]

6000+ is expected for sure... Last week was excellent and to start this month on a good note, Morgan Stanley has raised India's GDP FY13 forecast... Bullish days ahead if all goes well at the LS RS elections this week! :clap::thumb::clap: