NIFTY 50 future TRENDS
- Thread starter sudoku1
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NIFTY After Phenomenal rise of nearly 1100 points in just 2months from the lows of 4530 to 5630
some correction is expect and it is setting in. Up to what level we can consider as a correction to this bull trend to continue.. here below are some of the levels
FIBONACCI 23.6% - 5370 38.2%-5209 anything below this again we have look at bigger correction levels, 21/2 years range for Nifty is 4500 to 6300.
Attached weekly chart shows 5400 level had given few chance for break out earlier to reach 300 to 500 points up move but all those attempts faced with stiff resistance ultimately nifty have to come back to its starting point at around 4500
This trend will give way at some point of time. It is too early to predict the down trend till now market is on the move up.
For coming week Spot Nifty levels
R2-5713 R1-5571 PIVOT-5488 S1-5346 S2-5263
some correction is expect and it is setting in. Up to what level we can consider as a correction to this bull trend to continue.. here below are some of the levels
FIBONACCI 23.6% - 5370 38.2%-5209 anything below this again we have look at bigger correction levels, 21/2 years range for Nifty is 4500 to 6300.
Attached weekly chart shows 5400 level had given few chance for break out earlier to reach 300 to 500 points up move but all those attempts faced with stiff resistance ultimately nifty have to come back to its starting point at around 4500
This trend will give way at some point of time. It is too early to predict the down trend till now market is on the move up.
For coming week Spot Nifty levels
R2-5713 R1-5571 PIVOT-5488 S1-5346 S2-5263
Last edited:
Mano, this is unintentional coming in on the heels of your views, but I guess all of us know our routine, so here goes:
The correction of the UP has begun this past week. It hit the top of the weekly cloud with pinpoint accuracy, and then took a hard bounce off it. To start off the upcoming week, I would expect a correction back to the hourly tenken at 5521, and possibly the kijun at 5541.
From that point the journey heads south the rest of the week. The minimum correction is the point of the weekly TL break at circa 5320. The daily is showing a potential drop to 5275, which is the point the weekly TL and daily kijun meet. The WS2 is 5378, so it indicates this correction should take us into the following week to complete.
image hosting
The correction of the UP has begun this past week. It hit the top of the weekly cloud with pinpoint accuracy, and then took a hard bounce off it. To start off the upcoming week, I would expect a correction back to the hourly tenken at 5521, and possibly the kijun at 5541.
From that point the journey heads south the rest of the week. The minimum correction is the point of the weekly TL break at circa 5320. The daily is showing a potential drop to 5275, which is the point the weekly TL and daily kijun meet. The WS2 is 5378, so it indicates this correction should take us into the following week to complete.
image hosting
And we fell around almost 3800 pts in the ensuing months !!!!
Encore .. Encore ....
Oh .. thats not me but .. k .. thats the retail shouting
Encore .. Encore ....
Oh .. thats not me but .. k .. thats the retail shouting
Code:
Ticker Date/Time Prem / Disc Nifty Fut Close Percent[/B]
S&P CNX Nifty 10/18/2010 46.25 6122.2 0.755447388
S&P CNX Nifty 10/13/2008 43.4 3534.1 1.228035426
S&P CNX Nifty 4/27/2001 41 1142.3 3.589249759
S&P CNX Nifty 11/30/2007 40.75 5803.5 0.702162488
S&P CNX Nifty 1/2/2008 40.7 6220.1 0.654330316
S&P CNX Nifty 10/13/2010 39.95 6273.85 0.636770085
S&P CNX Nifty 12/28/2007 38.6 6118.3 0.630894203
S&P CNX Nifty 11/11/2010 38.3 6232.55 0.614515728
S&P CNX Nifty 12/5/2007 37.15 5977.15 0.621533674
S&P CNX Nifty 10/5/2010 37.05 6182.85 0.599238215
S&P CNX Nifty 11/2/2010 36.95 6155.95 0.600232296
S&P CNX Nifty 12/18/2007 36.65 5778.95 0.634198254
S&P CNX Nifty 4/1/2011 35.3 5861.35 0.602250335
S&P CNX Nifty 4/4/2011 34.85 5943.3 0.586374573
S&P CNX Nifty 11/1/2010 34.5 6152.05 0.56078868
S&P CNX Nifty 10/21/2010 33.65 6135.15 0.548478847
S&P CNX Nifty 11/1/2011 33.45 5291.4 0.632157841
S&P CNX Nifty 4/1/2008 33.4 4772.95 0.699776868
S&P CNX Nifty 12/7/2010 32.95 6009.5 0.548298527
S&P CNX Nifty 10/1/2010 32.9 6176.3 0.532681379
S&P CNX Nifty 11/18/2010 32.8 6031.6 0.543802639
S&P CNX Nifty 11/4/2011 32.65 5316.85 0.614085408
S&P CNX Nifty 11/27/2007 32.65 5730.8 0.569728485
S&P CNX Nifty 11/10/2010 32.6 6308.3 0.516779481
S&P CNX Nifty 11/9/2010 31.9 6333.45 0.503674932
S&P CNX Nifty 11/3/2010 30.75 6191.25 0.496668686
S&P CNX Nifty 12/2/2011 30.55 5080.7 0.601295097
S&P CNX Nifty 10/25/2010 30.4 6136.2 0.495420619
S&P CNX Nifty 10/26/2011 30.25 5232.05 0.578167258
S&P CNX Nifty 11/3/2011 30.1 5295.85 0.568369572
Coming Series for March Is an Eventful Month
06-03-2012 Assembly Election Result Counting
09-03-2012 Oath Ceremony Of Newly Elected CM
12-03-2012 President's Speech in House
14-03-2012 Railway Budget to Be Presentd
15-03-2012 Economy Survey Report to Be Released
15-03-2012 Mid Qtr Review Of RBI Monetary Policy
16-03-2012 Union Budget to be Presents
06-03-2012 Assembly Election Result Counting
09-03-2012 Oath Ceremony Of Newly Elected CM
12-03-2012 President's Speech in House
14-03-2012 Railway Budget to Be Presentd
15-03-2012 Economy Survey Report to Be Released
15-03-2012 Mid Qtr Review Of RBI Monetary Policy
16-03-2012 Union Budget to be Presents
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