MY GOLDEN QUOTE TO ALL TRADERS

TRADE WITH TREND
DON'T CHALLENGE THE MARKETS
RESPECT THE MARKETS
IT WILL ALWAYS GIVES YOU PROFITS IF YOU DO SO
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RAJESH.SALADI™ Call us @ 09573399376 Contact @ srknifty@yahoo.com in yahoo srknifty@gmail.com in gtalk srknifty in skype

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

Saturday, January 25, 2014

BANK NIFTY WEEKLY VIEW FROM 27.1.14 TO 31.1.14



Outlook for Bank nifty for next week: - As expected bank nifty crossed 1st resistance 11131.21 {weekly high is 11248.35}




Major Trend indicators: - MACD & TRIX still below zero line, ADX @ 17.3 {below 20}, Parabolic SAR @ 10806.42, check the chart
  




Momentum oscillators: - RSI @ 45.27 STOC @ 56.05 & WILLIAMS%R @ -57.8 {trending zone}, Check the chart






Volume Indicators: - MFI @ 53.87, Volume oscillator @-7.5, NVI @ 1.04 which is equal to avg 1.04 & PVI @ 54429.59 which is below avg 55218.45 check the chart
  






Volatility Indicators: - ATR @ 197.85 & Bank nifty near to Bollinger Lower band is @ 10795.3 & middle band @ 11104.72 {Bank nifty cmp 10982.4}, check the chart






Negative & Positive outs puts: - Spot Bank nifty {panic 11096} cmp 10982.3 which is below all ema's 20 ema @ 11116.21, 50 ema @ 11104.6, 100 ema @ 11021.28 & 200 ema @ 11062.34 not at all good and showing a negative sign. Golden cross over 20 ema>50ema>100ema>200ema continues its trend which is a good sign, check the chart
  




Conclusion: - Below 11035.67 it will find support @ 10822.98, if it breaks on closing basis, next 10663.57 - 10450.88

Whereas Above 11035.67 {cmp 10982.4} it will find resistance @ 11195.08 for next week, once it crossed next rise to 11407.77 - 11567.18 for next week

Overall trend turned bearish in Daily charts from 24.1.14 and in weekly charts bearish from 3.1.14



thanks,
regards,
Rajesh Saladi 
NSE certified Technical Analyst


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