Nifty trend

[Capricorn]

R @ 5225 , 5250 ,5300

S @ 5130 , 5070.

Trade well...

 

[lovable_guy006]

So Guys as stated on 16th July 2011. NIFTY Hit the target of 5328.70 today on 4th August 2011. and still it is looking weak ........ (Approx 252 Points downside)

If in today's session it does not maintain 5328.70 level and does not give closing above it. Then next target for NIFTY is 5195.90.

U will see 5195.90 level in today's trade only !!! Just wait and watch !!!

 

[vinst]

U will see 5195.90 level in today's trade only !!! Just wait and watch !!!

already seen 5195 !!

 

[tarun_track4]

YOu people are literally great, Capricorn and now lovable_guy006

 

[josh1]

Nifty has broken your weekly traingle on downside Capri. So where is it heading?

For measurements I prefer the decending traingle formed by trendline joining two recent lows of 5177 and 5195. That gives breakout value around 5200 today. If nifty gives two closes below that (very likely), then we have 750 points from 5944 (top of traingle) to 5200. This gives next target as 4450. (5200-750). That is possible by October end.

 

[tarun_track4]

Be positive Josh1 , will see a short covering trend from monday onwards, this was all due to FII selling as they are in an turmoil sitn but india is as attractive as gold now.

 

[timepass]

Be positive Josh1 , will see a short covering trend from monday onwards, this was all due to FII selling as they are in an turmoil sitn but india is as attractive as gold now.

Ok to say "be positive" but this kind of sell-off doesn't cause reversal in sentiments over a weekend, unless there is some very good news.

 

[josh1]

Be positive Josh1 , will see a short covering trend from monday onwards, this was all due to FII selling as they are in an turmoil sitn but india is as attractive as gold now.

A trader goes short when markets go down and long when it is going up. There is no positive or negative aspect. Only profit matters :lol:
It is good to be patriotic but "India attractive as gold" is a myth. Anyway Nifty did not close below 5200.

 

[Capricorn]

Nifty has broken your weekly traingle on downside Capri. So where is it heading?

For measurements I prefer the decending traingle formed by trendline joining two recent lows of 5177 and 5195. That gives breakout value around 5200 today. If nifty gives two closes below that (very likely), then we have 750 points from 5944 (top of traingle) to 5200. This gives next target as 4450. (5200-750). That is possible by October end.

I would like to see a bounce to about 5290 to enter fresh shorts. What happens is a different matter.

Trend reversal for now is only above a distant 5440.

I 'd be surprised if it crashed thru that support zone, barring a political emergency or some such catastrophe.

 

[timepass]

I 'd be surprised if it crashed thru that support zone, barring a political emergency or some such catastrophe.

Nifty is making an "M" on daily, weekly and monthly - what a confluence.