Wednesday, May 9, 2012

Nifty P&F (Wk 0705-1105) - support 4925, month long distribution target 4300-4380!

Recap:

5060 broken. There was no trap.

Weekly Analysis:
(updated till last week)

Daily Analysis:

Summary:

Weekly & Daily down. Immediate channel support should not breach 4925. The consolidation in weekly chart has two deep targets VPO @ 4300 (=5620-3*11*40) & HPO @ 4380 (=5340-3*8*40).
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5 comments:

  1. AnonymousMay 9, 2012 at 6:27 PM

    thanks for the post though its middle of the week :)
    I am regular weekend visitor to your blog on weekly opinion, as well as daily to sir iLango's blog.

    ReplyDelete
  2. AAR VEEMay 9, 2012 at 8:18 PM

    I'm Loving it !!! good work .

    Any point of invalidation for this.and whats ur observation on time target to achieve levels.

    ReplyDelete
  3. RajibMay 10, 2012 at 10:54 AM

    @ Anonymous,

    Sorry should have posted at weekend but for some medical urgency at home. Thanks for visiting my blog.

    @ AAR VEE,

    After long time :). Invalidation point: will update in chart this weekend (not breaching 4900 & breaking 5300 as it stands today). I am simply blind when it comes to time in P&F.

    ReplyDelete
  4. nathMay 10, 2012 at 2:42 PM

    your analysis gels nicely with ramki's elliotwave analysis on wavetimes

    ReplyDelete
  5. RajibMay 10, 2012 at 6:29 PM

    @ nath,

    You made me search for Ramki. I saw his target of 4350 & invalidation at 5290 level. Now, more people believing in this would simply mean the market has to think differently. So we got to be flexible. :)

    ReplyDelete

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