Saturday, January 5, 2013

Nifty P&F (Wk 0701-1101) - Resistance 6075, support 5925. Time to reflect!

Happy New Year 2013!!!
To all my blog-viewers & readers. Wish you peace, prosperity & happiness.
Long-term chart at the end

Support came much before 5800. Was grossly wrong, perhaps lack of attention. But people following PnF would have got out of position (short) the moment BrRL got broken @ 5900.

Weekly Analysis:

Daily Analysis:


Weekly & Daily UP. Daily at channel resistance but weekly has got few more space (6060-6100). Added to this the Fib extension indicates 2.62F @ 6075. A strong resistance at this level is expected.
If retraces from current high expect supports @5925.

Yearly Outlook:

I have put the picture in front of you. Only if cycles got to play, we are near the top. Else we go with fundamental theories (DOW) of Higher High (HH) & Lower Low (LL) for the Bull market. Clearly 5580 will play an important level.


  1. Happy new year to you too...
    thanks for the update and your views

  2. @narasing,

    thanks for stopping by ...


  3. NIFTY 29-Jan-2013
    Current Market Situation :

    NIFTY current close : 6050
    NIFTY resistance level : 6158
    NIFTY support level : 5912
    NIFTY sentiment : positive
    NIFTY dominant cycle period : 18 days

    Levels Tomorrow :

    NIFTY intraday resistance 1 : 6075
    NIFTY intraday resistance 2 : 6104
    NIFTY intraday resistance 3 : 6147

    NIFTY intraday support 1 : 6024
    NIFTY intraday support 2 : 5995
    NIFTY intraday support 3 : 5953

    for more log onto