NIFTY ANALYSIS AFTER CLOSING BELL

Today Nifty managed to keep up the good pull back of yesterday and gained 135 points, the support line of  V shaped recovery indicated yesterday was not even tested during the day

BUZZING NIFTY: V SHAPED RECOVERY

Yesterday nifty got resisted at 68% of the fall from 4930-4756, today after a good gap opening the bulls  took control of nifty and once 4930 was cleared there was no stopping the bulls , but nifty got resisted at 127% of the fall and manged to close marginally below it.

BUZZING NIFTY: FIBO EXTENSION

The global markets indicate another good start for nifty tomorrow, support for tomorrow are 4982 and 4955 resistance at 5036 and 5101 . a close above 38 DEMA at 5086 will turn the short term trend in favor of bulls,

Being the expiry day for the Sept series and  the pain is shifting to the bears camp expect short covering, to help nifty move up.Range for expiry as per VIX is 4853 - 5089

NIFTY ANALYSIS AFTER CLOSING BELL

BUZZING NIFTY:SUPPORT OF 200WSMA

Nifty found support at 200 week SMA at 4812 and bounced sharply,desperate attempt by the bulls to keep nifty above this level,


The Second chart shows that nifty got resisted at the 68% retracement from the fall 4930-4756

BUZZING NIFTY: FIBONACCI RETRACEMENT

The third chart of nifty in 5min shows V shaped recovery, holding above the trend line is the only hope for the bulls

BUZZING NIFTY: V SHAPED RECOVERY IN 5 MIN CHART

NIFTY SHOWING SIGNS OF V-SHAPED RECOVERY-- UPDATE

• NIFTY V SHAPED RECOVERY-- UPDATE

•  NIFTY GOT RESISTED AT THE TREND LINE, AS SHOWN IN YESTERDAYS POST
•  NIFTY ALSO BROKE THE SUPPORT LINE, BUT SHOWING SIGNS OF CONSOLIDATION WITHIN THE RANGE FORMED BETWEEN 5120 AND 5180 LEVEL
• HOWEVER THE POSSIBILITY OF BULLISH FLAG REMAINS, IT GETS NEGATED BELOW 5097
• A TRADE CAN BE INITIATED IN THE DIRECTION OF THE BREAK OF THE RANGE OF 5120-5180

 

REFER YESTERDAYS POST FOR MORE CLARIFICATION
http://buzzingnifty.blogspot.com/2011/08/nifty-showing-signs-of-v-shaped.html

NIFTY SHOWING SIGNS OF V-SHAPED RECOVERY

NIFTY V SHAPED RECOVERY

What Does V-Shaped Recovery Mean?
A type of economic recession and recovery that resembles a "V" shape in charting. Specifically, a V-shaped recovery represents the shape of the chart of certain economic measures, such as employment, GDP and industrial output. A V-shaped recovery involves a sharp decline in these metrics followed by a sharp rise back to its previous peak.

• NIFTY HOURLY CHARTS LOOKS LIKE FORMATION OF  V SHAPED RECOVERY
• NIFTY SHOWING EARLY SIGNS OF A V SHAPED RECOVERY FROM TUESDAYS LOW.
• NIFTY NEED TO CROSS THE RESISTANCE LEVEL OF 5211-5530, AND THEN ATTEMPT TO COVER THE GAP AS SHOWN IN THE CHART