NIFTY 50 future TRENDS
- Thread starter sudoku1
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As per the update, we made it back to 4972, and beyond the ST cluster event at 5012. The market has entered the bottom of the hourly cloud, and with the break of 5010 has strong momentum on its side. I would look for the top at 5088 to be hit before any sign of reversal.
I also mentioned somewhere else that what is going to happen is a very broad consolidative pattern, before any strong directional moves will happen afterward. The question might be, "How broad?" The broadness can scope a landscape north to my stated pointed, as it appears to be on the radar right now. Yet the main downside objective because of the TL break still needs to be hit at 4840, and there is even possibility for that move to continue to mine and Sudoku's objective at mid-4600's. OTOH, the MR1 at 5240 is also likely to be hit before the month is out.
It will be at least a few weeks this market is going to appear to float in liquid space.
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The strong spike to start the week took care of this forecast, so I thought I'd update it.
The one problem with 6 1/2-hour days is that it tends to nullify my S&R's. Markets don't stop moving just because the brokers shut down at certain times. Having said that, there was a clean break off the WS2 at 4905, and most likely, we head back to the WS1 at 4972.
There is now a cluster event at 5012, which means that should be ST containment. The strong spike and the southward move thereafter implies there is enough stream in the tank for 4840 to be hit, and it could be this week. After that, there is the MS1 at 4783 to look to, and then 4719.
Any level below 4840 is viewed as a reactionary, as the market is now in a wide and predictable consolidation range.
I also mentioned somewhere else that what is going to happen is a very broad consolidative pattern, before any strong directional moves will happen afterward. The question might be, "How broad?" The broadness can scope a landscape north to my stated pointed, as it appears to be on the radar right now. Yet the main downside objective because of the TL break still needs to be hit at 4840, and there is even possibility for that move to continue to mine and Sudoku's objective at mid-4600's. OTOH, the MR1 at 5240 is also likely to be hit before the month is out.
It will be at least a few weeks this market is going to appear to float in liquid space.
Uploaded with ImageShack.us
The strong spike to start the week took care of this forecast, so I thought I'd update it.
The one problem with 6 1/2-hour days is that it tends to nullify my S&R's. Markets don't stop moving just because the brokers shut down at certain times. Having said that, there was a clean break off the WS2 at 4905, and most likely, we head back to the WS1 at 4972.
There is now a cluster event at 5012, which means that should be ST containment. The strong spike and the southward move thereafter implies there is enough stream in the tank for 4840 to be hit, and it could be this week. After that, there is the MS1 at 4783 to look to, and then 4719.
Any level below 4840 is viewed as a reactionary, as the market is now in a wide and predictable consolidation range.
Double bottom at 4920. The breakout would be 5050 (approx) Spot.
If Nifty Spot breaks 5050 then expect 4920+(5050-4920)=5050+130=5180
which would be approx 5200+ levels for NF
Enjoy ....
Also remember Sept is MF Quarterly NAV price month
So expect some doses of Steroids to Nifty inbetween the downmoves :lol:
If Nifty Spot breaks 5050 then expect 4920+(5050-4920)=5050+130=5180
which would be approx 5200+ levels for NF
Enjoy ....
Also remember Sept is MF Quarterly NAV price month
So expect some doses of Steroids to Nifty inbetween the downmoves :lol:No peace for the wicked
Petrol prices may go up by Rs 3 a litre as rupee weakens :annoyed:
http://economictimes.indiatimes.com...itre-as-rupee-weakens/articleshow/9982771.cms
Petrol prices may go up by Rs 3 a litre as rupee weakens :annoyed:
http://economictimes.indiatimes.com...itre-as-rupee-weakens/articleshow/9982771.cms
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