AMITBE said:
At this point Im raising some interesting possibilities going ahead.
2866 and 2917 are coming up as levels where we may see an important event on the Niftya possible reversal?
There are two sets of dates coming up:
December 23 and 29.
January 3 and 6, 2006.
I may be jumping the gun big time, but this is my work in progress, you see.
The above was written on Dec 19.
Now, for the life of me I cannot trace what it may have been that inspired this. I try and keep track of all the charts I make but any material pointing to this is missing. Theres been a number overload, and I should conduct this research in a more orderly manner.
Nevertheless since the above was posted, I'm pulling it up now as this is one of the days mentioned.
The reversal mentioned aside, this is certainly looking like an important day for sure.
A reversal to the up appears the more likely scenario at this point.
To recap the last few sessions, the probes to the up have not met with buying support from the big boys so far. This should change soon.
Levels to the down have been tested for critical strength, which was found to be intact.
Yesterdays low was higher than the previous one while the highs were pretty much at par.
The trading range been created spans
2799 on the down to
2853 to the up.
Both these are also the prime numbers in my charts here.
2799 is well established while
2853 lies relatively un-fiddled.
In a long term bull-run, the advantage always lies with the bulls, this has been mentioned earlier. The periodical regrouping shows up as consolidation, and at historical heights a cautious approach defines the bull-run as a sustainable one.
The bears in this setting will subsist on random pickings and will seek opportunities at every peak.
When the bulls refuse to yield beyond a point and exert pressure, the bears are obliged to surrender and even change sides.
So again, what next.
An interesting term I found by chance in yesterday mornings post, and being treated as a notion rather than literally as so many other terms, is compression.
Number energy is likened to number compression.
The movement the last couple of sessions was volatile with a pretty wide swing, nevertheless we had seen some major struggles shifting from a certain lower level to a certain higher one and back again, as seen in the intraday charts.
The high and lows have compressed the Nifty.
The high at
2853 has shifted to
2835, while
2799 low has moved up to
2818.
With this compression, the Nifty appears set for a move which may even turn explosive.
The directional call is the difficult one, but well learn from our mistakes if things go awry, and go with the up.
The levels,
2842-43 is close by yet vital.
The next major level is
2853, with
2845-2848-2851 falling along the way.
The next highpoint is
2866 with
2857-2860-2863 being important marks to there.
Well be rocking if
2878 is tested with
2870 and
2874 acting as testing grounds.
And if
2878 is takenwell come to it then.
Rather lofty the aim, but then these are merely numbers.
The supports are of course well known by now.
