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

NIFTY WEEKLY VIEW FOR THE WEEK 6.1.14 - 10.1.14




Outlook for next week: - In last week update as we mentioned nifty crossed above 1st resistance {6339.32, weekly high 6358.3} on two days i.e., 30.12.13 & 2.1.14, but failed to close above and corrected up to below 3rd support {6208.42, weekly low is 6171.5} . 




Major Trend indicators: - MACD & TRIX above zero line, ADX @ 13.73 {below 20}, Parabolic SAR @ 6170.09, check the chart
 




Momentum oscillators: - RSI @ 49.04, STOC @ 62.48 & WILLIAMS%R @ -64.44 {trending zone}, Check the chart






Volume Indicators: - MFI @ 44.73, Volume oscillator @ -9.23 NVI @ 190.74 which is above avg 189.63 & PVI @ 362.19 which is below avg 366.56, check the chart
  






Volatility Indicators: - ATR @ 71.71 & Nifty heading towards Bollinger lower band is @ 6131.27 and middle band as of now is @ 6254.82 {nifty cmp 6211.15}, check the chart






Positive & Negative outs puts: - Spot nifty {panic 6265} cmp 6211.15 which is above all ema except 20 ema @ 6240.42 & & broken 50 ema @ 6171.37 on 3.1.14 in intra , but managed to close above And 100 ema @ 6070.35 & 200 ema @ 5951.92, Still continues the golden cross of 20 ema>50ema>100ema>200ema which is a good sign, check the chart
  




As expected INDIAVIX playing major role in this January series as it is going to cross 25 in this month, So, we can expect huge volatility either in down side or upside, Check INDIVIX ema chart to confirm





Conclusion: - Spot nifty {cmp 6211.15} below 6246.9 it will find support @ 6135.5, if it broken on closing basis, next 6059.85-5948.45 as its broken trend line on down side{Symmetric triangle check in ema chart}

Whereas above 6246.9 it will face resistance 6322.55, once it crossed on closing basis, next 6433.95 - 6509.6

Overall trend turned bearish in daily charts from 2.1.14 as well as weekly charts from 3.1.14. 

thanks,
regards,
Rajesh Saladi 

NSE certified Technical Analyst
 

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