Sunday, March 10, 2013

Nifty P&F (Wk 1103-1503) - quick sell-off @ (5985-6020) or consolidation for further up

Recap:

Expected minor "pullback", but market has shown significant strength.

Weekly Analysis:


Daily Analysis:


Summary:

Weekly UP, Daily Up. The pullback has been quite swift. In one go it has retraced 68% Fib!

If it was a false pullback, we should see a quick sell-off also from the channel top (@ 5985 - 6020) level. But if the responsive buyers have bought the 78% pullback from the top @ 6110, some consolidation should go on here, before we set a new Bull journey.

4 comments:

  1. Markets Quantified
    NIFTY 08-Mar-2013
    Current Market Situation :

    NIFTY current close : 5946
    NIFTY resistance level : 6158
    NIFTY support level : 5912
    NIFTY sentiment : sideways
    NIFTY dominant cycle period : 18 days


    Levels Tomorrow :

    NIFTY intraday resistance 1 : 5971
    NIFTY intraday resistance 2 : 5999
    NIFTY intraday resistance 3 : 6041

    NIFTY intraday support 1 : 5921
    NIFTY intraday support 2 : 5892
    NIFTY intraday support 3 : 5851

    Markets Quantified

    ReplyDelete
  2. Dear Sir,
    The VPO 4940 is still intact or not any level to watch for confirmation.
    Regards,
    pina

    ReplyDelete
  3. @pinakin,

    Till the time BrRL (Bearish Resistance Line) is not firmly broken-up, VPO is active. As of current price formation the zone for negation is (5985-6020).

    Regards,
    Rajib

    ReplyDelete
  4. Markets Quantified
    NIFTY 18-Mar-2013
    Current Market Situation :

    NIFTY current close : 5835
    NIFTY resistance level : 5912
    NIFTY support level : 5756
    NIFTY sentiment : sideways
    NIFTY dominant cycle period : 18 days


    Levels Tomorrow :

    NIFTY intraday resistance 1 : 5860
    NIFTY intraday resistance 2 : 5888
    NIFTY intraday resistance 3 : 5929

    NIFTY intraday support 1 : 5811
    NIFTY intraday support 2 : 5783
    NIFTY intraday support 3 : 5742
    Markets Quantified

    ReplyDelete