SRK TRADING CALLS: NIFTY WEEKLY VIEW & SENSEX CHARTS

GOLDEN TIP FOR BEGINNERS

WHEN A INDEX OR SCRIP OPEN ,LOW ARE SAME AND HIGHER THAN PREVIOUS CLOSE {REMEMBER MUST BE HIGHER THAN PREVIOUS CLOSE} , THEN DON'T SHORT THAT SCRIP WHERE AS IN OTHER WORDS , YOU CAN TRY LONG IN THAT COUNTER

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WHEN A INDEX OR SCRIP OPEN,HIGH ARE SAME AND LOWER THAN PREVIOUS CLOSE {REMEMBER MUST BE LOWER THAN PREVIOUS CLOSE} THEN DON'T GO LONG IN THAT SCRIP WHERE AS IN OTHER WORDS , YOU CAN TRY SHORT IN THAT COUNTER

DISCLOSURE:- THIS IS MY PRACTICAL OBSERVATION IN MY TRADING JOURNEY AND I PUT THIS AS A THEORY FOR MY OWN TRADES , THIS IS NOT ANY ONE'S , OR NOT WRITTEN IN ANY TECHNICAL BOOKS
SOME COPY CATS COPYING THIS
TOTAL SENTENCE TO THEIR BLOGS OR WEBSITES
SO, IT IS YOUR RISK IF U DO ACTIONS ON THIS THEORY

Sunday, August 8, 2010

NIFTY WEEKLY VIEW & SENSEX CHARTS

HI FRIENDS, AS TOLD HERE 1.8.10 POST OPENED ABOVE PANIC BUTTON OF SHORTS WHICH IS @ 5396.87 AND YOU CAN SEE THE SHORT COVERING THROUGH OUT THE DAY ON MONDAY BY CLOSING ABOVE 1ST WEEKLY RESISTANCE WHICH IS @ 5432 AND BECAUSE OF THAT CONTINUED UPTO THURSDAY BY MAKING A HIGH OF 5487.15 , SO, OVER ALL 90 POINTS SHORT COVERING ABOVE MY PANIC BUTTON OF 5396.87 , BUT COULD NOT CROSS THE 2ND WEEKLY RESISTANCE WHICH IS @ 5505 , SO, FALL CAME ON FRIDAY UPTO 5431.15 ,NOW REAL DECIDING LEVEL FOR BULL OR BEAR IS @ 5427.62 FOR THIS WEEK , WHERE AS MAJOR SUPPORT IS @ 5399.34 WHICH IS 20 EMA , TO KNOW MORE ABOUT ALL EMA { 50 @ 5317.86 , 100 @ 5233.2 ,200 @ 5044.19} CLICK BELOW CHART :-

RSI @ 58.33 AND STOC IMPROVED BY GAP UP OPENING ON MONDAY AND NOW READ TO CUT THE SIGNAL LINE, MACD ALREADY CUT THE SIGNAL LINE , STILL TO CUT 0 AS SAID IN LAST WEEK POST , SO, NO CHANGE , TRIX READY TO CUT 0 SIGNAL AND AS TOLD IN LAST WEEK POST NOT CLOSED EVEN SINGLE DAY BELOW 20 EMA WHICH I TOLD AS SHOULD CLOSE FOR 3 DAYS BELOW 20 EMA FOR BEARISHNESS SIGN , TO KNOW HOW INDICATORS NOW LOOKING CLICK BELOW CHART :-

PIVOT IS 5447.5 FOR MONDAY TRADING RESISTANCE ARE 5463 - 5488 - 5504 WHERE AS SUPPORTS @ 5423 - 5406 - 5382 DECIDING POINT FOR LONGS OR SHORTS @ 5427 WHICH IS NEAR TO 1ST SUPPORT , ANY BREAK ON EITHER SIDE WILL CREATE PANIC FOR LONGS OR SHORTS ON ANY DAY IN THIS WEEK , HAVE A LOOK INTO CHART TO KNOW :-

WEEKLY PIVOT IS @ 5425.9 WHICH IS AGAIN NEARER TO PANIC BUTTON FOR LONGS OR SHORTS AND RESISTANCE ARE @ 5500 - 5561 - 5636 WHERE AS SUPPORTS @ 5364 - 5290 - 5228 , HAVE A LOOK INTO CHART :-

WARNING NOTE :- PANIC BUTTON HITTED ON MONDAY GAP UP OPENING AND YOU CAN SEE THE SHORT COVERING HOW IT IS UP BY 90 POINTS FROM LAST WEEK PANIC BUTTON FOR SHORTS AS TOLD IN WEEK POST :- 1.8.10 POST , NOW FOR THIS WEEK PANIC BUTTON IS @ 5427.62 { REVERSE SHORT & LONG LEVEL } WHICH WILL DECIDE FOR SHORT AS WELL AS LONGS, BELOW 5427.62 SHORTS WILL EXECUTE, ABOVE, LONGS SAFE ON DAY IN THIS WEEK , TRADE ACCORDINGLY , HAVE A LOOK INTO THE CHART :-

AS PER TIME ANALYSIS , REVERSAL WE CAN EXPECT ON MONDAY { LITTLE } 9TH AUGUST 2010 AND NEXT IS WEDNESDAY 11TH AUGUST 2010 REVERSAL EITHER A HIGH OR LOW WHICH EVER COMES FIRST ON THIS DAY AND THEN CAN REVERSE THE EARLIER TREND

AS MANY ARE ASKING , I AM ATTACHING CHARTS OF SENSEX ALSO :-

SENSEX PP CHART FOR MONDAY :-