Nifty Future trend

[ivanboesky]

Yes, it broke to the upside. The July futures are now at a discount of only 7 points, as compared to a discount of almost 40 points two days back. Does this bullish sign mean that the markets are almost at a peak for now??

 

[Mohan]

The Nifty has broken on the UPSIDE!!

I personally do not pay too much attention to discount/premium between spot/futures. BTW has it helped you in any way?

 

[miscos]

Though market is bullish and signal for buy is still on, I believe a correction is due anytime and as such I found nifty S 2162, R1 2230, R2275. Shoud we be more cautious at this level or remain long!

Any comments?

 

[billauday]

even when crude touched 61 per barrel and a bomb balst in london did nothing to indian market this should show the undertone of the market.market normal corrections should not be felt like crashes.

 

[BHARTIJH]

Most of the movements occure before 11 or after 2. I think this is the time durng which we should build our positons

 

[sh50]

Most analysts seem to think that mkt is overdue for correction and infosys results could prove to be a trigger for that.

 

[ivanboesky]

Yup, tomorrow will tell... or rather, today will tell... Moat analysts feel that the market is due for a correction, but then they have felt that way from the time the Nifty crossed 2040. Dont know if the market will tank with the Infosys results. The undertone is strong, mainly due the liquidity and foreign flows... Lets hope this Infy result is better than the last one.

 

[miscos]

Today's market movement has been put me in a very difficult position about the trend for future. Infy qtly result was less than expected, but mkt moved up to the 2235 level before dipping down in the mid. But the next continuous rise sugests another story. Can anybody put some light for tomorrow. Trend is +ve, correction due. Or ?

 

[vince]

Failure of head and shoulder formations:
Occasionally a head and shoulders formation unfolds but prices either fail to penetrate the neckline or do so only momentarily. When this happens the previous main trend resumes, usually in an explosive manner. However, the market structure at this point is invariably weak and the trend continuation, though energetic at the outset, is usually short lived. A short time later, as technical forces finally win out, the trend terminates and reverses. Volume studies are of little help in recognizing the potential for a failed head and shoulder formation.

The above is an article from a popular technical analysis website.
Does the above scenario look familiar?
Any comments are welcome.

 

[arun]

The Nifty has retraced the entire fall of 07/07. It will be interesting to see if it can cross the top of 2230.00