FOLLOWUP POST NIFTY CONTINUATION OF PATTERNS

AS INDICATED EARLIER, NIFTY SEEMS TO BE REALLY MOVING IN CONTINUATION ,
JUST HAVE A LOOK AT THE CHART,


Details based on the above observations

Down Trend 1( Start of continuation Patterns)
BAT PATTERN(BEARISH)
fall 6284 to 5966 = 318 points in 5 days
rise 5966 to 6151= 186 points or 58.5% in 3 days
fall 6151 to 5937= 214 points or 115% in 4 days
rise 5937 to 6338= 410 points or 195%in 5 days
PATTERN COMPLETED
resulting in a bigger fall to 5690 in 15 days

Down Trend 2(Larger Pattern)
GARTLEY( BEARISH)

fall 6338 to 5690 = 648 points in 15days

rise 5690 to 6069= 379 points or 58.5% in 6 days

fall 6069 to 5721=348 points or 90% in 5 days

rise 5721 to 6181= 460 points or 135%in 16 days
PATTERN COMPLETED 
 resulting in a bigger fall to 5177 in 15 days

Down Trend 3(Largest in the making)
POSSIBLE FORMATION

BAT / ALTERNATE BAT/ CRAB PATTERN(ALL BEARISH)
fall 6181 to 5177  = 1004 points in 37 days

rise 5177 to 5599= 422 points in 7 days

fall 5599 to 5232= 367 points in 7 days


IF THE NIFTY GETS SUPPORT FROM HERE THEN POSSIBLE TARGETS

BAT PATTERN


a).rise 5232 to 5965= 733 points in 35-40 days
b)..rise 5232 to 6310= 1078 points in 35-40 days


ALTERNATE BAT PATTERN


a).rise 5232 to 6065= 833 points in 35-40 days
b)..rise 5232 to 6191= 959 points in 35-40 days


CRAB PATTERN


a).rise 5232 to 6383= 1151 points in 35-40 days
b)..rise 5232 to 6799= 1567 points in 35-40 days

 the first look at the possible out come of the possible target will make one laugh at the analysis,
Considering the fact that these all are bearish patterns, and the time frame to complete.

 DO REMEMBER

 DIWALI historically has been a bad day for the markets, this time market made a new all time high on this day.
Dec 2010 every TV channel, all analyst were saying markets to touch newer highs next month, markets reacted opposite and fall to 5177.
Inverse co-relation with the developed markets, as already stated in the last post, when US markets were under pressure we were busy making newer highs, when their markets gained confidence and started moving north our markets saw steeper falls. US and European Markets are trading at Highs and they will start to correct sooner or later, will we follow them in the falls????????????
Bank Nifty which has been the leader or the direction decider for the Nifty, didn't test the lows of Thursday, and closed near to 10400 which is an important support level.
The prices at the moment are well below all traced moving averages. FII's are on a selling spree, jhunjunwala selling stake, does this indicate bearishness in the markets.????????

Simple trading strategy is to go long above 5200 with 5177(previous low)as the stop-loss , start accumulating blue chip stocks,
If previous low is broken then stay away from equities, invest in GOLD,Bank FD and Debt Funds, conservative traders(not investors) may go long above 5469.


Will update, as the prices unfolds>>>>>>>>>>

Please Feel free to share your suggestions, queries & questions either through comments or Mark a mail to buzzingnifty@gmail.com.