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

Sunday, January 5, 2014

BANK NIFTY WEEKLY VIEW FROM 6.1.14 TO 10.1.14




Outlook for Bank nifty for next week: - As expected bank nifty reached 1st resistance 11563.22 {weekly high is 11578.9}



Major Trend indicators: - MACD ready to break zero line showing negative divergence & TRIX broken zero line, ADX @ 13.01 {below 20}, Parabolic SAR @ 11050.93, check the chart
  




Momentum oscillators: - RSI @ 47.03, STOC @ 31.56 & WILLIAMS%R @ -73.74 {trending zone}, Check the chart





Volume Indicators: - MFI @ 44.11, Volume oscillator @-11, NVI @ 1.04 which is below to avg 1.05 & PVI @ 55527.34 which is below avg 55791.44 check the chart
  




Volatility Indicators: - ATR @ 230.49 & Bank nifty Heading towards Lower band is @ 11956.8 & middle band @ 11440.1 {Bank nifty cmp 11181.7}, check the chart






Negative & Positive outs puts: - Spot Bank nifty {panic 11346} cmp 11181.7 which is above all ema's except 20 ema @ 11322.23 & broken 50 ema @ 11152.73 in intra on 3.1.14, but managed to close above & 100 ema @ 11013.89 & 200 ema @ 11065.86. Golden cross over 20 ema>50ema>100ema>200ema continues its trend which is a good sign, check the chart
  






Conclusion: - Below 11271.05 it will find support @ 10963.2, if it breaks on closing basis, next 10744.75 - 10436.9

Whereas Above 11271.05 {cmp 11181.7} it will find resistance @ 11489.5 for next week, once it crossed next rise to 11797.35 - 12015.8 for next week

Overall trend turned bearish in Daily charts from 30.12.13 and in weekly charts bearish from 3.1.14


thanks,
regards,

Rajesh Saladi 
NSE certified Technical Analyst

1 comment:

  1. Its an excellent weekly view & nice way of explanation . Thanks . Keep posting more of this - Siddarth

    ReplyDelete