Nifty P&F (Wk 0204-0604) - resistance 5350, target 5450; downside resumes below 5230

Recap:

Broke down 5210 and went upto 5150 level.

Weekly Analysis:

Daily Analysis:

Summary:

Weekly down. Daily up. Upside resistance 5350, break next target 5450. Downside resumes halfway of 'X' column at 5230.

Nifty P&F (Wk 2603-3003) - likely to break down below 5210, upside possibility above 5330

Recap:

The range is still intact.

Daily Analysis:

Summary:

Today I have put two types of P&F chart. The first one is the conventional 3-pt reversal (box=20) & the second one is the 1-pt reversal wyckoff chart (box=60).

See the beauty of Wyckoff chart, it very clearly tells, that the chance of breaking down has very high probability. However, the same is not true in case of first chart where the range is still on. Important level for break down is 5210. The price still may follow the upside above 5330.

Nifty P&F (Wk 1903-2303) - Price in range, momentum above 5460 & below 5180!

Recap:

Price went down thwarting intra rise of UP polls & budget volatility below 5345!

Weekly Analysis:

 

Daily Analysis:

Summary:

Weekly DOWN. Daily UP. Weekly chart showing a range which needs to broken on upside 5460 >> 5540. DOWN side moemntum gains only below 5180!

Nifty P&F (Wk 1202-1603) - Bulls if close above 5375, bears if close below 5345

Recap:

First support came at 5170.

Weekly Analysis:

Daily Analysis:

Summary:

Weekly paused. Daily UP. A reversal from 38% fib & a channel support. The upside pullback has approached 38% (@5345) of the downside reversal. I am still not confident about the upmove, there are resistances lying @ 5375 & 5405. A close above 5375 will make the case for Bulls strong. Closing below 5345 remains week on daily chart and we should head back to 5180 levels.

Nifty P&F (Midwk 0502-0903) - first support near 5165, next 5090

Election results did not change much the EOD scenario 160+ pts movement against the position either way would have made life difficult for many like me. I always follow the EOD method but early morning movement was too much for me to sit tight.

The current scenario provides a support at 5165, break and next one near 5075-90.

Nifty P&F (Wk 0502-0903) - first a resistance at 5420 then 5200?

Recap:

Support came much below.

Weekly Analysis:

Daily Analysis:

Summary:

Weekly down. Daily up. Clearly rangebound. The BrRL in weekly chart will play a major role in deciding the break of range. Very immediate resistance for the downmove to continue till 5200 level should be 5420!