An ascending range is on, still to reach 5240 range.
Weekly Analysis:
Daily Analysis:
Summary:
Weekly & Daily up. Closing chart is quite bullish with an ascending triangle break-out. Closing above 5200 might turn things super-bullish.
Saturday, June 23, 2012
Nifty P&F (Wk 2506-2906) - close above 5200 charts are super bullish
Recap:
An ascending range is on, still to reach 5240 range.
Weekly Analysis:
Daily Analysis:
Summary:
Weekly & Daily up. Closing chart is quite bullish with an ascending triangle break-out. Closing above 5200 might turn things super-bullish.
An ascending range is on, still to reach 5240 range.
Weekly Analysis:
Daily Analysis:
Summary:
Weekly & Daily up. Closing chart is quite bullish with an ascending triangle break-out. Closing above 5200 might turn things super-bullish.
Sunday, June 17, 2012
Nifty P&F (Wk 1806-2206) - a battle @ 5300 likely to play out in a range
Recap:
5110 first and then 5140 - resistances were lined up perfectly as per the charts. Today's analysis says 5300 still a point of huge resistance.
Weekly Analysis:
Daily Analysis:
Summary:
Weekly & Daily UP. 5140 acted as resistance twice in the week. However, the last top is suggesting a double top break-out.
A VPO is targeting a price-objective of 5245. On weekly chart BrRL suggesting a resistance at 5260, which also happens to be 62% fib for the price range of 5620-4820! The daily chart BlRL is however indicating, this won't happen smooth, but probably in an ascending range.
Lastly, everything is still settled for a good combat at a few notch below 5300 level.
5110 first and then 5140 - resistances were lined up perfectly as per the charts. Today's analysis says 5300 still a point of huge resistance.
Weekly Analysis:
Daily Analysis:
Summary:
Weekly & Daily UP. 5140 acted as resistance twice in the week. However, the last top is suggesting a double top break-out.
A VPO is targeting a price-objective of 5245. On weekly chart BrRL suggesting a resistance at 5260, which also happens to be 62% fib for the price range of 5620-4820! The daily chart BlRL is however indicating, this won't happen smooth, but probably in an ascending range.
Lastly, everything is still settled for a good combat at a few notch below 5300 level.
Sunday, June 10, 2012
Nifty P&F (Wk 1106-1506) - resistance 5140, bears in contention till 5300
Recap:
A bullishness was expected at a close above 4800, it came back but was much furious than expected.
Weekly Analysis:
Daily Analysis:
Summary:
Weekly UP, Daily Up. Weekly resistance below 5140, Daily 5110 (BrRL) & 5170 (BlRL). So effectively 5140 (50% fib from the top of 5450) level to offer resistance.
Now the big question, whether a temporary reversal has happened! P&F chart is pretty clear in this sense -
A bullishness was expected at a close above 4800, it came back but was much furious than expected.
Weekly Analysis:
Daily Analysis:
Summary:
Weekly UP, Daily Up. Weekly resistance below 5140, Daily 5110 (BrRL) & 5170 (BlRL). So effectively 5140 (50% fib from the top of 5450) level to offer resistance.
Now the big question, whether a temporary reversal has happened! P&F chart is pretty clear in this sense -
- w.r.t. the top of 6340 Nov'10, the BrRL has been broken in Feb'12.
- w.r.t. of 5620 Feb'12, the BrRL lies at 5300 level.
Friday, June 1, 2012
Nifty P&F (Wk 0406-0806) - daily closing above 4800 will imply price moving in downward channel
Recap:
The range broke 4955. Knew there was a resistance, but came 3 points earlier at 5015 only!
Weekly Analysis:
Daily Analysis:
Summary:
Weekly & Daily DOWN. However both got supported exactly on BlSL @ 4835. Being above 78% fib, a weekly chart shows mild possibility of ascending bottom, and thereby feebly bullish.
The trend is largely down. However price likely to close above 4800 and grind within a downward channel.
The range broke 4955. Knew there was a resistance, but came 3 points earlier at 5015 only!
Weekly Analysis:
Daily Analysis:
Summary:
Weekly & Daily DOWN. However both got supported exactly on BlSL @ 4835. Being above 78% fib, a weekly chart shows mild possibility of ascending bottom, and thereby feebly bullish.
The trend is largely down. However price likely to close above 4800 and grind within a downward channel.
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