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

&

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, November 7, 2010

NIFTY WEEKLY VIEW & SENSEX CHARTS

HI FRIENDS , AS TOLD HERE :- 31.10.10 POST AFTER BREAKING 6057 { PANIC BUTTON WARNING FOR SHORTS AND FRESH LONGS } ON MONDAY GAP UP OPENING, IT NEVER LOOK BACK AND MADE A HIGH OF 6132.4 WHICH IS NEARER TO 1ST WEEKLY RESISTANCE { 6133 }AND CROSSED ON TUESDAY AND CROSSED 2ND WEEKLY RESISTANCE ON THURSDAY { 6249 } SHOWED BULLISHNESS WHICH CONTINUED UPTO FRIDAY BY GOING TOWARDS LIFE TIME HIGH WHICH IS @ 6357.1 , MADE A HIGH ON DIWALI SPECIAL TRADING SESSION OF 6338.5 { NEARER TO 3RD WEEKLY RESISTANCE 6347 } WHICH IS NOW GOING TO HIT ON MONDAY i.e., TOMORROW TRADING . NOW 20 EMA @ 6108.62 WHICH IS VERY FAR FROM CURRENT LEVEL AND 50 EMA IS @ 5954.08 TO KNOW MORE ABOUT ALL EMA { 100 @ 5739.49 ; 200 EMA @ 5444.02 } , CLICK BELOW CHART :-

RSI @ 67.31 NEARER TO 70 REGION WHICH IS OVER BOUGHT & STOC @ 85.18 CROSSED 80 WHICH IS OVER BOUGHT REGION , PULL BACK HAPPENED AS TOLD IN LAST WEEK AND NOW REACHED TO OVER BOUGHT REGION , BUT THIS MAY NOT INDICATED CORRECTION AS MARKETS ARE NEARER TO LIFE TIME HIGH , CLICK CHART TO KNOW :-

PIVOT IS 6318.02 FOR MONDAY TRADING RESISTANCE ARE 6332 - 6353 - 6368 WHERE AS SUPPORTS @ 6297 - 6282 - 6262 , HAVE A LOOK INTO CHART TO KNOW : -

WEEKLY PIVOT 6245.23 RESISTANCE ARE @ 6405 - 6498 - 6659 WHERE AS SUPPORTS @ 6151- 5991 - 5898 , HAVE A LOOK INTO CHART :-

WARNING NOTE :- PANIC BUTTON @ 6127 FOR THIS WEEK WHICH IS STOP LOSS FOR POSITIONAL LONGS , NO WORRY ABOUT LONGS UNTIL THIS LEVEL { REVERSE SHORT LEVEL } BREAKS , MARKETS MOVING TO LIFE TIME HIGH AND AFTER CROSSING MORE UP , MOVING BELOW THIS LEVEL ON ANY DAY CAN CREATE PANIC SELLING FOR THIS WEEK :-