Nifty trend

[Capricorn]

Looks like we'll do 5630 today....:lol:

Next tgt. pls.

Did we do it in style.....:lol:

Next 5660 , 5705.

 

[josh1]

Did we do it in style.....:lol:

Next 5660 , 5705.

Sure we did. I am beginning to get a hang of your trading style. It works well with 15 Minute and 5 minute chart. Thanks a lot Capri.:thumb:

 

[Capricorn]

Sure we did. I am beginning to get a hang of your trading style. It works well with 15 Minute and 5 minute chart. Thanks a lot Capri.:thumb:

Works on all TF friend. Just need lots of practice , discipline, and conviction in yourself.

 

[josh1]

This trend line is too steep with two gap ups in four days. Such moves do not last for more than 6 days. A sideways or downward move is likely to start by Tuesday.

 

[mech71]

First signs of correction over if two conditions are met :

1. Weekly close of Nifty spot above 5573.

2. Daily close above 5668 of Nifty spot for two successive days.

 

[mech71]

PIVOT LEVELS FOR THE YEAR 2011 ::::::::::::



CATEGORY S2 S1 Pivot R1 R2



Sensex 13633 17071 19090 22528 24547

Nifty 4052 5094 5716 6758 7380

Bank Nifty 5928 8859 11082 14013 16236

DOW 8884 10231 10943 12290 13002

NASDAQ 1849 2251 2463 2865 3077

S&P500 925 1092 1177 1344 1429

BRAZIL 51212 60258 66681 75727 82150

HANG SENG 16315 19675 22332 25692 28349

NIKKEI 7532 8881 10144 11493 12756

 

[vinst]

PIVOT LEVELS FOR THE YEAR 2011 ::::::::::::



CATEGORY S2 S1 Pivot R1 R2



Sensex 13633 17071 19090 22528 24547

Nifty 4052 5094 5716 6758 7380

Bank Nifty 5928 8859 11082 14013 16236

DOW 8884 10231 10943 12290 13002

NASDAQ 1849 2251 2463 2865 3077

S&P500 925 1092 1177 1344 1429

BRAZIL 51212 60258 66681 75727 82150

HANG SENG 16315 19675 22332 25692 28349

NIKKEI 7532 8881 10144 11493 12756

Mech71,
How to relate nifty levels of 5573 of weekly close and 5668 of 2 daily closes to the yearly levels posted by you?

 

[mech71]

Mech71,
How to relate nifty levels of 5573 of weekly close and 5668 of 2 daily closes to the yearly levels posted by you?

In short the above figures have been arrived after construction of nifty chart in conjunction with fibonacci levels. 6339 on nifty(21126 on sensex) is taken as 0.00 level and 2254 on nifty(7703 on sensex) is taken as 100.00 level. The level of 2254 is from where the bull market has started. Then various retracement levels of 23.60%, 38.20%, etc. are constructed are drawn on the chart.

You can get the method of constructing this charts from various sites like investopedia, etc.

 

[Capricorn]

5620-30 has to be sustained for continued bullishness.

Tgts . 5705 , 5755.


If we slip below 5620 its going to be a bitchy and choppy.

Trade well.

 

[Capricorn]

A Difficult Judgment

In a small town, a person decided to open up his Bar business, which was right opposite to the church. The church & its congregation started a campaign to block the Bar from opening with petitions and prayed daily against his business.

Work progressed. However, when it was almost complete and was about to open a few days later, a strong lightning struck the Bar and it was burnt to the ground.

The church folks were rather smug in their outlook after that, till the Bar owner sued the church authorities on the grounds that the church through its congregation & prayers was ultimately responsible for the demise of his bar shop, either through direct or indirect actions or means.

In its reply to the court, the church vehemently denied all responsibility or any connection that their prayers were reasons to the bar shop's demise. As the case made its way into court, the judge looked over the paperwork at the hearing and commented:

"I don't know how I'm going to decide this case, but it appears from the paperwork, we have a bar owner who believes in the power of prayer and we have an entire church and its devotees that doesn't."