NIFTY 50 future TRENDS

[anayash]

Hi Paul,

Here's a Nifty Spot Daily Chart.

Can the blue horizontal line(around 5200) be considered as a good support as it is drawn from a flat portion of cloud in the past?

 

[4xpipcounter]

Anayash, the thing about your chart that stood out in my mind was the chart R as it pertained directly to the leveling of the cloud as you pointed out.

The rule is with different cloud levelings is that they pertain, in this case, as you are heading north after going over the top (south as you go under the bottom.). After all, another look at your chart shows the market is striving to get back to equilibrium. In this case, I have to consider my ulterior means of my forecast, and agree that 5200 is going to be support. It is also chart R turned S, so that is going to add credence to our view.

Just keep in mind the rule applies to cloud leveling once over the top and moving north, or under the bottom and heading south. The whole point is that once you break loose of the cloud, you want to know a reversal point and the cloud in the past or future helps to ascertain that.

Hi Paul,

Here's a Nifty Spot Daily Chart.

Can the blue horizontal line(around 5200) be considered as a good support as it is drawn from a flat portion of cloud in the past?

 

[anayash]

At $500 billion, Apple is worth more than Poland

 

[SavantGarde]

Hmmmm.... You know the irony... Anay...I had bought 200 shares when it was 64.xx and soon after that it was split....resulting in 400 shares.... at that time not a single fund in U.S. had an exposure to AAPL... because it was considered a One-Product wonder and wasn't expected do well beyond a few months.... and today they are falling over themselves... & projecting some very unreal Targets....!!!

Remind me to tell you about Google (GOOG)....next week..!!!

SG

At $500 billion, Apple is worth more than Poland

 

[manoharpillai]

61.8% Retracement Level 4950.2
50.1% Retracement Level 5080
38.2% Retracement Level 5209.8
23.6% Retracement Level 5370.4
Fibonacci 38.2% is at 5209 always considered to be normal correction in any trend.... below this level is trend reversal .

 

[manoharpillai]

02-03-12 Spot Nifty RES/SUP levels

R2-5411 R1-5375 PIVOT-5336 S1-5300 S2-5258

Last Friday close was 5429 will it try to close above this ...

 

[sudoku1]

http://m.economictimes.com/PDAET/articleshow/12104301.cms

 

[vinzz]

mano sir, pls post your s3 level

 

[sudoku1]

http://m.economictimes.com/PDAET/articleshow/12103750.cms

 

[manoharpillai]

mano sir, pls post your s3 level

R2 and S2 are normal range for a day.. i am not posting R3/S3 to avoid confusion (over crowding with many levels for intra-day)
here we go R3-5448 and S3-5223 (shade touch of sudoku level 5222)