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

Friday, January 17, 2014

NIFTY WEEKLY VIEW FOR THE WEEK 20.1.14 - 24.1.14



Outlook for next week: - In last week update as we mentioned nifty reached final & 3rd resistance 6326.67 {weekly high is 6346.5}. 




Major Trend indicators: - MACD & TRIX above zero line, ADX @ 13.12 {below 20}, Parabolic SAR @ 6151.44, check the chart




Momentum oscillators: - RSI @ 52.98, STOC @ 69.21 & WILLIAMS%R @ -44.19 {trending zone}, Check the chart





Volume Indicators: - MFI @ 46.51, Volume oscillator @ -2.88 NVI @ 192.3 which is above avg 191.12 & PVI @ 362.16 which is below avg 363.56, check the chart






Volatility Indicators: - ATR @ 70.16 & Nifty heading towards Bollinger higher band is @ 6358.17 and middle band as of now is @ 6251.65 {nifty cmp 6261.65}, check the chart






Positive outs puts: - Spot nifty {panic 6257} cmp 6261.65 which is above all ema 20 ema @ 6241.55 & 50 ema @ 6192.02 And 100 ema @ 6099.51 & 200 ema @ 5978.37, Still continues the golden cross of 20 ema>50ema>100ema>200ema which is a good sign, check the chart






Conclusion: - Spot nifty {cmp 6261.65} below 6265.9 it will find support @ 6185.3, if it broken on closing basis, next 6108.95-6028.35
Whereas above 6265.9 it will face resistance 6342.25, once it crossed on closing basis, next 6422.85 - 6499.2
Overall trend turned bearish in daily charts {Bearish Evening star on 17.1.14} from 17.1.14 but bullish in weekly charts from 17.1.14.

thanks,
regards,
Rajesh Saladi 
NSE certified Technical Analyst

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