Showing posts with label Cluster resistances. Show all posts
Showing posts with label Cluster resistances. Show all posts
December 4, 2013
NIFTY ANALYSIS
Though Nifty has closed above all the Day TF parameters, it could not breakout from the resistance of 6225-6230 levels.
September 24, 2012
Analysis for Sept 24
Nifty had a huge Runup and has closed near the 52 week High. Now to charts:
NIFTY WEEK LONG TERM CHART:
Cluster of resistance at 5700 levels.
Considering the inverted H&S/Contracting triangle breakout - Nifty is likely to reach the CHANNEL TOP near 6100++ on taking out 5740 - previous High on a closing basis.
NIFTY WEEK LONG TERM CHART:
Considering the inverted H&S/Contracting triangle breakout - Nifty is likely to reach the CHANNEL TOP near 6100++ on taking out 5740 - previous High on a closing basis.
September 6, 2012
ANALYSIS FOR SEPT 6
INTRADAY UPDATE 3.00 pm:
Intraday trade done - Bought at 5245NF - and sold at 5275NF.
ANALYSIS FOR SEPT 6:
Nifty has poised in an interesting scenario. In the Monthly charts, it is seen that from the Month of April it has not scaled 5300 on Monthly Closing Basis. A Cluster of resistance is seen at 5300. Past two months, the Body of the Candle has been very narrow between 5285 - 5215- not even a 100 point range. It has been a spinning top both the previous months - showing high indecisiveness.
Intraday trade done - Bought at 5245NF - and sold at 5275NF.
ANALYSIS FOR SEPT 6:
Nifty has poised in an interesting scenario. In the Monthly charts, it is seen that from the Month of April it has not scaled 5300 on Monthly Closing Basis. A Cluster of resistance is seen at 5300. Past two months, the Body of the Candle has been very narrow between 5285 - 5215- not even a 100 point range. It has been a spinning top both the previous months - showing high indecisiveness.
February 10, 2012
Analysis for Feb 10
INTRADAY UPDATE 3.00 PM:
50% SHORTS TAKEN AT 5395NF WITH POSITIONAL SL @5440NS
Nifty ended with a new High and has reached the Cluster Zone. If resisted at the cluster then a Likely hood of formation of a Huge inverted H&S is possible.
Todays Closing being the weekend closing would determine futher movements. Initial weakness in Week TF would be with a close below Developing week Pivot at 5385. The weekly charts also exhibit highly Over Sold Nature.
Keeping above the Trendline/Channel is a Must for the Continuing Upmove.
The Rising WEDGE formed in the Weekly charts and Day Charts would continue into channel if Upmove continues. If the Upward Movement is resisted due to the Cluster (Chart Shown Above) then the Rising Wedge may take it effect.
If there is a Close below the Week Pivot 5385 or Day Hema 5380, then the Oppurtunity can be utilised for Fresh Shorts.
50% SHORTS TAKEN AT 5395NF WITH POSITIONAL SL @5440NS
Nifty ended with a new High and has reached the Cluster Zone. If resisted at the cluster then a Likely hood of formation of a Huge inverted H&S is possible.
Todays Closing being the weekend closing would determine futher movements. Initial weakness in Week TF would be with a close below Developing week Pivot at 5385. The weekly charts also exhibit highly Over Sold Nature.
Keeping above the Trendline/Channel is a Must for the Continuing Upmove.
The Rising WEDGE formed in the Weekly charts and Day Charts would continue into channel if Upmove continues. If the Upward Movement is resisted due to the Cluster (Chart Shown Above) then the Rising Wedge may take it effect.
| Week levels | Developing week levels | ||
| CLOSE | 5326 | CLOSE | |
| PIVOT | 5246 | PIVOT | 5386 |
| HI EMA | 5226 | HI EMA | 5229 |
| LOW EMA | 5043 | LOW EMA | 5043 |
| 5 EMA | 5098 | 5 EMA | 5203 |
| PrevHigh | 5335 | 5 SMA | 5172 |
| Prev Low | 5077 | High | 5423 |
| 40 Wk MA | 5154 | LOW | 5323 |
| CHECK LIST-DAY | |||
| CLOSE | 5412 | ||
| PIVOT | 5392 | 5 SMA | 5198 |
| HI EMA | 5381 | 5EMA | 5353 |
| LOW EMA | 4302 | 10EMA | 5283 |
| prev HI | 5423 | 13EMA | 5243 |
| prev LOW | 5339 | 26EMA | 5019 |
| 20 DMA | 5134 | 20 Hr MA | 5364 |
| 200 DMA | 5190 | 50 Hr MA | 5314 |
If there is a Close below the Week Pivot 5385 or Day Hema 5380, then the Oppurtunity can be utilised for Fresh Shorts.