Monday, June 17, 2013

Nifty movement for Week # 25 starts on June 17th, 2013



For any short please keep 5900 as ultimate stoploss,

Being Weekly pivot, Monthly Pivot, 50% retrenchment of April low till May high and 38.2% retrenchment of May high till Last Thursday  low almost in same zone and that is 5855 to 5875 then by stretching a bit covers 5900.
Looking at global cue and recent political uncertainty, I am negative on Nifty for short term. My first target in down side is 5500. I have not upside target as I do not see Nifty much up-move. Direction should be change if it Nifty stays above 5900 for one week.

Monday, June 10, 2013

Nifty Resting on Monthly Pivot of 5855, Nifty week 24rth




Nifty behaved very much in line of our expectation
Nifty developed Head and Shoulder in full
Touched our target of 5853 (today's low was 5857.40)

Nifty future movement:
Nifty will take time before moving below 5855, if it move sharply below this level, presume this as strong resistance immediately. Channel movement would be very frustrating connecting 6229 and 6133 and 5857 and 5937

Nifty will change direction above monthly pivot 6045

Monday, June 3, 2013

Niftyday expectation for Week 23rd of Niftyday June 3, 2013






As per our last Week Analysis, Nifty behaved in expected way and confirm developing head and shoulder pattern.
Now it is poised to stay some time in lower zone.

Expected Future pattern
Nifty is about to made a crossover between, 20 day EMA and 20 day SMA
5853 is showing good support because of combined effect of retrenchment and Monthly Pivot.
5870 is Weekly second support,
If you are still carring short position, book profit at around 5870 my target is 5853