NIFTY 50 future TRENDS

[sudoku1]

BEIJING: A fire has engulfed Chinese state-owned oil giant PetroChina's largest oil refinery, the official news agency Xinhua said Monday, the second blaze at the plant in recent months.
Fire broke out at the refinery in northeast China when an oil tank caught light at at around 10:00 am (0200 GMT), Xinhua reported in a shortdispatch, giving no details of any casualties.

 

[rahul701]

Nifty has lost it's downwards steam now and it is the time to not only exit ur shorts but GO LONG. If now it crosses 4900 go long. Be a reversal predictor and see how u will make money :clap:

So i hope not many of u were short in Nifty. Again advising to GO LONG..

 

[sudoku1]

NF trend DOWN

tgt > 4567

 

[EagleOne]

NF trend DOWN

tgt > 4567

Man after my heart!
It is so hard to go long, you know! Until, of course, we hit 3800s! (oh, that would be THE day!

BTW, if this week nifty closes above 5134, the pattern would change. And then it would be a sixer over the Long Leg boundry.

Have a nice evening, everybody!

 

[manoharpillai]

U r genious manoharpillai , awesome reversal target given by u and it was hit in just 1 day. Now lets hope ur next target of 5230 is hit sooner than later.
Also can u discuss(if u hav no problems in doing so). how u arrived at these targets as it may help us better.

Thanks

Thanks for your huge appreciative comment on my observation about Nifty Trend.
To answer your question how i arrived at these levels ..... Nifty made high at 5702 on 26th July 2011 and the correction set in on that day. As per Fibonacci calculation High 5700 low 4750 (26-8-2011) gives me Retracement Level's 23.6% @ 4974
38.2% 5112 and 50% @ 5225 i gave the higher possibility target of 50% because the market at oversold condition and lots of shorts to be covered.

 

[4xpipcounter]

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Mano, look at this. You and I ideally agree. I posted in my thread about a ST correction at 4974, as per this chart. I look for the market to drop to circa 4875, maybe a little lower, and then the correction reverses higher.

As of now, I am still convinced this is only a correctional process and the downtrend, as per the daily, weekly, and monthly will continue lower.

Thanks for your huge appreciative comment on my observation about Nifty Trend.
To answer your question how i arrived at these levels ..... Nifty made high at 5702 on 26th July 2011 and the correction set in on that day. As per Fibonacci calculation High 5700 low 4750 (26-8-2011) gives me Retracement Level's 23.6% @ 4974
38.2% 5112 and 50% @ 5225 i gave the higher potability target of 50% because the market at oversold condition and lots of shorts to be covered.

 

[manoharpillai]

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Mano, look at this. You and I ideally agree. I posted in my thread about a ST correction at 4974, as per this chart. I look for the market to drop to circa 4875, maybe a little lower, and then the correction reverses higher.

As of now, I am still convinced this is only a correctional process and the downtrend, as per the daily, weekly, and monthly will continue lower.

Agreed Nifty may correct even tomorrow if fail to sustain above 4974 and any drop below 4840 again back to Square One to 4750 possible.

 

[manoharpillai]

Watch Dow close above 11530 which is double top break out and the next Res. comes at 11980 this would give big boost to world market to retrace to 50% including Nifty.

 

[ajshare108]

Watch Dow close above 11530 which is double top break out and the next Res. comes at 11980 this would give big boost to world market to retrace to 50% including Nifty.

I also hope that this time nifty will touch 5150 - 5200 but since last few days nifty is not following dow.

 

[brightstar]

Nifty close on 29.08.2011 : 4920

Nifty opened gap up on 29.08.11 and moved up considerably. For a firm upmove, Nifty has to close above 4965 den it may test 5130-5200. Support exists at 4875-4838.

Nifty Strong above 4965
WEak below 4806

If long SL 4875
If short SL 4965