Nifty P&F (Wk 2904-0305) - 5950 final hurdles to bull, 5780 an opportunity to enter

Recap:

The channel was broken and price went beyond 5900!

Weekly Analysis:

Daily Analysis:

Summary:

Weekly & Daily Up. The column of 'x' is pretty strong. The strength of bulls are getting stronger. 5950 last hurdle to the bulls. The pullback to this upmove should get tested @5780 level.

Nifty P&F (Wk 2204-2604) - Channel top resistance 5820-5860, next consolidation suggests the direction

Recap:

Though we expected a halt to the fall, but short-term definitely was not range-bound. My study of the market did not suggest anything that the bounce could be so sharp. Either the market is expecting something big or it's a trap.

Weekly Analysis:

Daily Analysis:

Summary:

Weekly & Daily Up. Weekly chart suggesting a channel top very near 5820-5860, the daily chart also showing a BrRL at the same level (marked red in the chart).

However, the pullback has been quite strong. Suggesting there is some buying pressure in it. The information will be in the next level of consolidation. If we see that there is a consolidation at the channel top level & from there it breaks down, it will resume the down fall. Else if we see a sharp fall from the channel top getting arrested at some Fib level & consolidates, the subsequent break-up will confirm a reversal of the trend.

Nifty P&F (Wk 2204-2604) - short-term range bound, mid-term selling pressure continues

Recap:

5755 again got sold into.

Weekly Analysis:

Daily Analysis:

Summary:

Weekly DOWN. Daily range-bound. In daily time-frame it may extend it's range-bound movement & thereby whipsaws. But the selling pressure in price behaviour is quite evident. As long as the pullbacks are pushed by the channel tops & BrRLs, it's prudent to consider only shorts.

Current chart suggests, 5580-5620 to be watched out for resistance.