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
Recap:

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:


Summary:

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.

3 comments:

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

    ReplyDelete
  2. @narasing,

    thanks for stopping by ...

    regards,
    rajib

    ReplyDelete
  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
    http://marketsquantified.blogspot.in

    ReplyDelete