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

NIFTY WEEKLY VIEW FOR THE WEEK 27.1.14 - 31.1.14



Outlook for next week: - In last week update as we mentioned nifty reached 1st resistance 6342.25 {weekly high is 6355.6}.  


Major Trend indicators: - MACD & TRIX above zero line, ADX @ 12.9 {below 20}, Parabolic SAR @ 6198.17, check the chart
  



Momentum oscillators: - RSI @ 51.22, WILLIAMS%R @ -41.13 {trending zone} & STOC @ 84.17 {overbought}, check the chart
 


Volume Indicators: - MFI @ 61.87, Volume oscillator @ -2.96 NVI @ 194.57 which is above avg 192.63 & PVI @ 358.22 which is below avg 362.55, check the chart




Volatility Indicators: - ATR @ 66.21 & Nifty heading towards Bollinger higher band is @ 6379.46 and middle band as of now is @ 6259.12 {nifty cmp 6266.75}, check the chart
 



Negative & Positive outs puts: - Spot nifty {panic 6289} cmp 6266.75 which is above all ema except 20 ema @ 6269.59 & 50 ema @ 6214.03 And 100 ema @ 6119.89 & 200 ema @ 5994.72, Still continues the golden cross of 20 ema>50ema>100ema>200ema which is a good sign, check the chart
  



Conclusion: - Spot nifty {cmp 6266.75} below 6288.57 it will find support @ 6221.53, if it broken on closing basis, next 6176.32-6109.28
Whereas above 6288.57 it will face resistance 6333.78, once it crossed on closing basis, next 6400.82 - 6446.03
 

Overall trend turned bearish in daily charts from 24.1.14 but bullish in weekly charts from 17.1.14.
  


thanks,
regards,
Rajesh Saladi 
NSE certified Technical Analyst

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