Nifty started the week on a positive note and continued to rise through out the week and closed at 5654 as compared to previous weekly close at 5376.95. A good gain of nearly 280 points for the week and expiry near the corner could take the bears for more ride and more pains for the put writers, who have had two very good expiry as nifty closed at the low on the expiry day.
Let us see the alignment of some of the key technical Indicators
Let us see the alignment of some of the key technical Indicators
Elliot Wave Count:
wave 1 down: 6312-5762=560 points
wave 2 up : 5762-6152= 405 points
wave 3 down: 6152- 5177= 975 points
wave 4 up : ????????
possibilities are23.6% @ 5177 to 5414= 237 points (achieved)
38.2%@ 5177 to 5562= 385 points(achieved)
50% @ 5177 to 5681= 504 points??? is 4 up over?????
Is it Flat Correction or a five wave Triangle, and e wave of 4 ended on friday ???? 4th still on or is it over???. will have to see the price actions as it unfolds during the week(Other EW possibilities also exist, to avoid any confusion to the readers posting only what looks like the most obvious count)
Wave 5 to follow
wave 1 down: 6312-5762=560 points
wave 2 up : 5762-6152= 405 points
wave 3 down: 6152- 5177= 975 points
wave 4 up : ????????
possibilities are23.6% @ 5177 to 5414= 237 points (achieved)
38.2%@ 5177 to 5562= 385 points(achieved)
50% @ 5177 to 5681= 504 points??? is 4 up over?????
Is it Flat Correction or a five wave Triangle, and e wave of 4 ended on friday ???? 4th still on or is it over???. will have to see the price actions as it unfolds during the week(Other EW possibilities also exist, to avoid any confusion to the readers posting only what looks like the most obvious count)
Wave 5 to follow
BUZZINGNIFTY: POSSIBLE 5 WAVE TRIANGLE IN 4TH WAVE |
Ichimoku: Gave a weak buy signal on 4th March with the nifty around 5420 level then a sell signal during the week and almost turned up again in buy mode on friday. For the first time since the fall from Jan the price action have moved in the cloud, will gain more strength when the nifty would start trading above the cloud.
BUZZINGNIFTY: ICHIMOKU- KOMU |
BUZZINGNIFTY: DAILY BOLLINGER BAND |
BUZZINGNIFTY: WEEKLY BOLLINGER BAND |
In the weekly chart the prices rose from the bottom of the bollinger band, first resistance would be the mid point of the band currently at 5690, which is also the target for 4th wave up.
BUZZINGNIFTY: MONTHLY BOLLINGER BAND |
Since the recovery from the 2008 global meltdown price action in Nifty has never been below the monthly mid-band of the bollinger band, indicating that we are still in bulls market, after touching the midpoint of the band last month, and consolidation followed and on Friday the close was at months high point, the upper boundary of the band is currently around 6100 odd level.
DEATH CROSS( 50DMA Crossing below 200DMA)
The DEATH CROSS was Formed in Nifty on 4th March 2011, It is considered highly Bearish, The Last Time when we saw this formation Nifty slipped from 4800 levels to 2300 odd Levels, as the name itself indicates highest degree of Bearishness there is a lot to cheer in the bears camp at the moment. The only hope for the bulls is that the 200 DMA is still rising.( Ideally both moving averages should be moving down in this formation.)
End of the week and nifty decided to move past 50DMA, the next test of the strength of the bulls would be 200dma roughly around 5697 level.
Recently there was a similar cross in S&P Index in US, but the Price movement proved otherwise,
BUZZINGNIFTY: NIFTY DEATH CROSS |
BULLS/ BEAR POWER
This is one indicator which i,ve recently added to the study, this simply indicates the power of the BULL/ BEAR as compared to the price action.
BUZZINGNIFTY: BULL/BEAR POWER |
BEARISH FLAG
In one of the previous post we saw a triangle formation and a bearish flag in Nifty, although the triangle has given a breakout, the possibility of flag still remains.
BUZZINGNIFTY: RESISTANCE LINE |
A cluster of resistances for nifty on the way up, a close above 5700 will give bulls more strength, making this a good point to go shorts with small stop-loss, above this we might well be moving to newer highs.
10 comments:
Hi there to every body, it's my first pay a quick visit of this web site; this webpage includes awesome and truly excellent data in support of visitors.
Here is my webpage ; hotmail com blog
I drop a comment each time I like a post on a website or I have something to contribute to the
conversation. Usually it's caused by the sincerness displayed in the post I read. And on this article "NIFTY WEEKEND ANALYSIS for week ended 26th March. 2011". I was actually moved enough to post a commenta response ;-) I do have a couple of questions for you if it's okay.
Is it only me or do a few of these responses appear as
if they are left by brain dead visitors? :-P And, if you are posting at other online social sites, I would like to follow everything
fresh you have to post. Could you make a list all of all your shared sites like your Facebook page, twitter feed, or linkedin profile?
My blog post :: above ground pool wood decks
my page :: http://www.teamr4d.com/
Тhanks for finally ωriting about > "NIFTY WEEKEND ANALYSIS for week ended 26th March. 2011" < Loved it!
My website - crear faсebooκ gratis
Unqueѕtiοnаbly imagіne that that you
stаted. Yοur fаvorite justifіcation apρеared tο be
at the nеt the simρlest thing to takе into accοut of.
I say to yοu, I definitelу gеt аnnoуed at the ѕame
time аs folkѕ considеr conсeгns that they plainly ԁon't recognise about. You controlled to hit the nail upon the top and also outlined out the entire thing with no need side-effects , people can take a signal. Will probably be back to get more. Thanks
my web blog :: kl38o548.pixnet.net
If you desire to obtain a great deal from thiѕ piece οf writing thеn you haѵe tо аpρly
such tесhnіques to your won blog.
Μy web blog abrir cuenta facebook
Hi, I thіnk уour blog coulԁ
possіbly be having wеb browser compаtibilitу pгοblemѕ.
Wheneveг I look at your wеbsitе in Ѕafaгi, it looks fіnе but ωhen
оpеning іn I.Е., іt has some overlapρing issuеs.
Ι ѕіmply wantеd tο givе you a quіck heаds up!
Besides thаt, excеllent website!
mу weblog ... abrir cuenta facebook
Supеrb blog! Do уou have any tipѕ and hints foг аsρіring writerѕ?
I'm planning to start my own site soon but I'm a littlе lost on evеrything.
Would yοu proposе staгting with а free
platfοrm like Wοrdpreѕs oг gο for a paid option?
Therе are so many options оut theге that Ι'm totally confused .. Any suggestions? Thanks!
Feel free to visit my blog post :: facebook cuenta gratis
What а information οf un-ambіguity anԁ prеseгvеnеss of valuable know-how
cοncerning unexpected feelingѕ.
Also visit mу page; crear facebook
It's very straightforward to find out any topic on net as compared to textbooks, as I found this paragraph at this web site.
my web site: crear facebook gratis
Wonderful, ωhat а ωebpage it iѕ!
Thiѕ webpagе giѵeѕ vаluable informatiοn to us,
keep іt uρ.
Feel fгee tο surf to my ωeb blog: crear facebook gratis
Post a Comment