Monday, April 23, 2012

Nifty P&F (Wk 2304-2704) - more grinding ahead before bullishness returns


Weekly Analysis:


Daily Analysis:


Summary:

Weekly UP (as of last week). Daily DOWN. Daily has broken the BlSL. The weekly chart is showing signs of Bullish Catapult. Which means a 7-column affair before the bullishness returns but the pattern is valid only till it holds 5180, which is very near!

Let's see which way it breaks.

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2 comments:

  1. jonakApril 23, 2012 at 11:35 PM

    7 column affair...so does it mean we are in the last column...have i gt it right???...whats the target for this catapult???

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  2. RajibApril 24, 2012 at 11:40 AM

    @ Jonak,

    The pattern (in weekly chart) that I'm looking at starts at 'X' column that has '4' on top of it (i.e. beginning of Apr'12). As per this we are in the 3/4th column (depends on EOW). So may be May'12 will also have a roller-coaster ride - but broader range, so some profit!

    Regards,
    Rajib

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