Hi Friends,
Sorry for not being in touch for a long time..
Due to some personal problems and heavy work, I’m unable to post the daily levels here..
Anyhow surely weekly once atleast I update the important levels and stock news in this space to my level best.
Here I post the overall view of
NIFTY SPOT with the chart explained.
Take care and trade careful dear friends, investors & clients
In the EOD chart of NIFTY SPOT given below, you can clearly see the starting point of a very big inverted cup which has been registered on 12th March 2009 as 2574 and the cup is partially completed @ 5399.65 on 7th of April 2010.
Another big negative sign is the sideways movement or a rising wedge like (trend lines drawn in yellow) pattern already broken and finds three consecutive closes too (i.e below 5040)
Which indicates that market is getting ready for an upside down dive..
LONG TERM TREND: DOWNWARDS
Within September 2010 Market is going to fall atleast 1500 points from this level and this thing becomes damn sure if 4666 is broken decisively without touching the recent high of 5400.
Time theory too indicates that by March of 2011 greater chance of testing 3000 level is there.
In contrast, long-term investors please stay away from the market till the complete correction and the market will give you greater opportunities within 6-10 months from now on.
SHORT TERM TREND:DOWNWARDS
If we look at the short-term trend, the corrective wave of (4675.40 – 5399.65) is completed @ 4951.
But still for the past three days
(May 19th – 22nd) it is unable to find a close above that 4951, which indicates before 10th of June 2010 Market, should test 4700 and 4650 levels.
This may happen much sooner than we all expect.
So please wait for the closing day
(27th of May) for my PUT OPTION recommendations
NOW TAKE DOWN THE
DAY TRADING STRATEGY OF NIFTY FUTURES (MAY 24) Above 4950 No problem for day trading Bulls..
Intraday spike upto 4980-5005 is sure..
Strong resistance comes @ 5005 where it faces 7 Days Exponential Moving Average.
On the other hand, if it cuts 4880 without touching the high of Friday (i.e. 4943)
Then watch another round of panic upto 4804
BANK NIFTY
If trades above 9200 for 10 minutes sure hike upto 9280-9315 is possible.
Anyhow be careful @ 9290 levels, because there comes a strong resistance of 7 DEMA.
On the other hand, If cuts 9027 without crossing the Fridays high of 9177 then free fall upto 8850 is its intraday destiny
(Please refer to ‘OUR POLICIES’ before you leave the site)
For further details,
Contact Admin (Editor),Analyst @
(0)9788563656
&
(04142)236656
-Mahindeesh (a) Sathish
Cuddalore-2
Tamil Nadu
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