Saturday, August 29, 2015

Nifty P&F (Wk 3108-0409) - watch out the nature of fall; 8170 would arrest the fall else downward supports 7300 >> 7000 >> 6300

Recap:

Both 7916 & 7885 have been broken.

Weekly Analysis:

Daily Analysis:

Summary:

Weekness that was visible finally gave in. Sudden gap down fall has hit the VPO & in very short-term expecting a bit more consolidation before it resumes the fall. However, in the process of consolidation, if it crosses 8170, the fall could be arrested.

Weekly VPO is looking at a target of 6350. If the fall is a meltdown it might be soon. else, it might do the movement in the weekly channel. Supports in that case could be 7300 followed by 7000. My take is it's more of correction than a fall.

7 comments:

  1. @narasing,

    thankyou ... for you my blogwriting is alive :) ... keep pushing me whenever needed.

    Regards, Rajib

    ReplyDelete
  2. thanks Rajib for your kind words. Kindly keep posting at important turning points. i give lot of weight to your P&F analsis to base my investment decision into mutual fund. write now sitting on cash :)

    ReplyDelete
  3. @narasing,

    market has got into a consolidation & testing phase. The levels in daily chart are improving 8170 could now be 8125, however, weekly chart is yet to show any sign of reversal. It's still consolidation.

    Regards,
    Rajib

    ReplyDelete
  4. Hi Rajib, please update the charts when you get time.
    thanks in advance
    regards
    Narasing

    ReplyDelete

  5. Thanks for sharing information about trading....There is a lot of important information on your site.....!!

    EagleRTS@Gmail.com
    info@EagleRT.com

    09250 816 716

    EagleRT

    ReplyDelete
  6. Dear Rajibsir,
    Kindly update for index.
    Thanks.
    P G M

    ReplyDelete