HI FRIENDS, AS TOLD HERE :- 7.8.11 POST NIFTY TOOK SUPPORT @ 3RD WEEKLY SUPPORT { 5028 } BOTH ON MONDAY { LOW 5054.05 } & TUESDAY { MADE LOW 4946.45 AND CLOSED @ 5072.85 } . BOUNCE BACK HAPPENED AS EXPECTED AS RSI REACHED BELOW 30 ON MONDAY & TUESDAY PANIC SELLING , BUT DIFFICULT CROSS THE WEEKLY PIVOT { 5185.78 } ON THIS BOUNCE SHOWED THAT THIS IS ONLY RETRACEMENT. AS OF NOW NIFTY 20 EMA @ 5339.27 & 50 EMA @ 5449.02 & 100 EMA @ 5515.97 & 150 EMA @ 5547.26 & 200 EMA @ 5547.62 WHICH WILL ACT AS RESISTANCE IF ANY UP MOVE FROM HERE, CLICK BELOW CHART FOR ALL EMA'S :-
RSI REACHED OVER SOLD ZONE @ 29.59 & STOC @ 23.50 :-
PIVOT IS 5106.92 FOR TUESDAY TRADING RESISTANCE ARE 5160 - 5248 - 5301 WHERE AS SUPPORTS @ 5019 - 4965 - 4878 , HAVE A LOOK INTO CHART TO KNOW : -
WEEKLY PIVOT 5074.53 RESISTANCE ARE @ 5202 - 5332 - 5460 WHERE AS SUPPORTS @ 4944 - 4816 - 4687 , HAVE A LOOK INTO CHART :-
WARNING NOTE :- PANIC BUTTON @ 5434 AS ON 12.8.11 FOR THIS WEEK WHICH IS STOP LOSS FOR POSITIONAL SHORTS GENERATED ON 26.7.11 , MOVING ABOVE THIS LEVEL ON CLOSING BASIS WILL START BULLISHNESS AND SHORT COVERING RALLY AGAIN { REVERSE LONG LEVEL } IN THIS WEEK ON ANY DAY , UPTO THAT DONT WORRY ABOUT POSITIONAL SHORTS :-
AS PER TIME ANALYSIS , REVERSAL WE CAN EXPECT ON WEDNESDAY 17TH AUGUST 2011 REVERSAL EITHER A HIGH OR LOW WHICH EVER COMES FIRST ON THIS DAY AND THEN CAN REVERSE THE EARLIER TREND. WATCH PANIC BUTTON * { STOP & REVERSE LONG LEVEL }FOR SUPPORT & RESISTANCE MOVING ABOVE PANIC BUTTON WILL CREATE BULLISHNESS AND AFTER MOVING UP, BREAKING PANIC BUTTON WILL CREATE BEARISHNESS, SO, DECIDE UR TRADE LIKE THAT
SENSEX WITH EMA :-
SENSEX WITH INDICATORS:-
SENSEX PP CHART FOR TUESDAY :-
SENSEX WEEKLY PP CHART :-
17450 IS SL FOR SHORTS GENERATED ON 12.8.2011 , MOVING ABOVE WILL START BULLISHNESS { REVERSE LONG LEVEL }FOR THIS WEEK FOR SENSEX AS ON 29.7.2011 , DONT WORRY ABOUT POSITIONAL SHORTS UPTO THAT LEVEL :-
sir currently yrly RSI@20....generally v get bounce from around 30 levels
ReplyDeleteVivekjhawar: so will v get a decent bounce cause mkts currently oversold
also as per ur decade chart if v close below 4832 200weekly EMA then v r heading for 3800levels around which coincides with 61.8% retracement of rise from 2240-6330 levels
Vivekjhawar: only follow ur levels for nifty SIR...u r toooooo good n accurate
but y still stuck in some midcaps BADLY....have exited large caps
Vivekjhawar: as per ur weekly levels mkt as of now taking support at 2nd weekly level 4816
Vivekjhawar: getting temptd to go long cause of RSI n v are around 38.2% retracement level of rise
Dear vivek bhai, this week levels will change and will update in weekly post in detail about positional view, 3800 also my tgt for the year , but we will see whipsaws before this & about rsi query , yes it is over sold, but not only indicators decide the trend of the market , i will post rsi decade chart also ,what happened when nifty broken 200 weekly ema in the past , Weekly RSI @ 32.65 only , it may go to 19 ALSO
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