Nifty P&F (Wk 2702-0203) - expect 5380-5390 to offer support

Recap:

Easiest market decided the top. I just followed.
Also a bit to my old post, specially the last paragraph, just check where S&P500 & Nifty stand today!
Post on 20 Dec'11, while we were deep in red!


Weekly Analysis:

Daily Analysis:

Summary:

Weekly paused. Daily down. BlSL is coming in dialy chart at 5405, weekly chart showing channel top support at 5380. Daily & weekly chart showing a pullback support at 5380 & 5390. Hence, I conclude 5380-5390 is a reasonably strong support area coming from such an extensive bull run!

Nifty P&F (Wk 2002-2402) - don't stress much, let market decide the top!

Recap:

All resistances have been shattered.

Weekly Analysis:

Daily Analysis:

Summary:

All UP and strong! No point expecting a top, let market decide on its own. Have been bullish but it surprised everybody with such an expanded move. Next leg of upmove should be challenging as volatility is expected to increase.

Nifty P&F (Wk 0502-0902) - scary upmove nearest resistance 5400!

Recap:

A very short-lived top came. But was grossly wrong to expect a pull-back.

Weekly Analysis:

Daily Analysis:

Summary:

Weekly UP, Daily UP. Follow the price so many channels are being blown up easily, on weekly chart still a few are left to offer resistance - the highest being 5380-5400!

Really scared by this upmove. Waited long for an entry in the current series, but could not manage yet. Sometimes fear that it should not just fly like that and the first half of the year itself sees half of the bull rally done. Already index is 18% up at a stretch and most of the equities 25% up!