Nifty P&F (Wk 0209-0609) - Pullback support 5340, resistance still @ 5620-5700 level

Recap:

Demand & Supply kept struggling! Again seems supply arrested.

Weekly Analysis:

Daily Analysis:

Summary:

Weekly again paused. Daily Up. Volatility has increased manifold. If it does not get restricted though the risk:reward ratio will be same for the trade, the absolute amount of risk will be very high.

Still the buy signal has to come for long after breaking out through any of the BrRL. Any pullback should be restricted upto 5340, where the weekly pivot & channel support lies. Resistance as earlier remains in the range of 5620 - 5700.

Nifty P&F (Wk 2608-3008) - Fall temporarily seems arrested, next resistance 5620-5700!

Recap:

Resistance came little before 5755!

Weekly Analysis:

Daily Analysis:

Summary:

Weekly Paused, Daily Up. With more corrections it's expected to get resisted at 5620-5700!

Note: With my travel on cards I'll be a little bit irregular with this blog.

Nifty P&F (Wk 0508-0908) - Immediate support 5620-5660, resistance around 5820; Long-term VPO 4780!

Recap:

Resistance came at 6093, support broken through 5940! And we are set to a down move again.

Weekly Analysis:

Daily Analysis:

Summary:

Weekly & Daily Down. However, the weekly chart shows an immediate support @ 5620-5660 level. Daily however shows a channel support at 5660 is already hit. Monday opening will give a clue. However, such supports provide opportunity look for selling than buying as larger trend is down.

Resistance to short may come around the midpoint of 'O' column at 5820, which is also the resistance level as per weekly pivot.

And, as I mentioned in my last post, this time the VPO in weekly chart is going to be very grave 4780!