nifty views updated

posted on 8th aug

i am expecting nifty may show some bounce towards 5700 

-5730-5770 in next week from 5445-50 levels

if could not break abv 5770 range on closing

 basis then may expect another round of 

downmove will start for near 5050 levels

buy aggressively near 5410-5430 range with sl 

below 5370

trgts 5570

will update near 5570 again,if could not break

 abv it then may soon trgt 5200 near levels

HAPPY INDEPENDENCE DAY TO ALL

स्वतंत्रता दिवस के अवसर पर आप सभी का अभिनन्दन एवं हार्दिक

 शुभकामनाएँ।

views updated

plz revise sl abv 5605 for shorts near 5572-82 range instead of 5591(upper T/L of channel pattern in black lines

nifty views

a small bearish WW may be developing in 5min charts

pt4 may have been done near 5512

pt 5 may be formed abv 5572

and trgt near 5445-55 range  on monday eod or tuesday morning

Trading advice:

sell nifty today on any upmove abv 5572(in 5572-83 range) with sl abv 5591 or sell if trade below 5510 with days high as sl

trgts 5445-55 range(but exit shorts near 5477 or trail with strict TSL)

below 5440 sustaining may trgt 5410 also next week

cmp 5528ns

i am expecting nifty may show some bounce towards 5700 -5730-5770 in next week from 5445-50 levels

if could not break abv 5770 range on closing basis then may expect another round of downmove will start for near 5050 levels

MCDOWELL

MCDOWELL MAY BOUNCE STRONGLY FROM EITHER FRIDAY LOWS OR NEAR 2200

SL CLOSE BELOW 2170

TRGTS ABV 2900

BELOW 2170 IF SUSTAINS MAY TRGT 2000 IMMEDIATELY

NIFTY VIEWS

IF DIAMOND PATTERN HOLDS THEN PROBABLY TILL TUESDAY NIFTY MAY MAKE LOWS OF THIS DOWNMOVE MAY BE NEAR 5608-5622 RANGE(LOWER T/L OF DIAMOND PATTERN)

BUY ALL DIPS BELOW 5630NS LEVELS

SL BELOW 5577NS LEVELS

TRGT ABV 5970

UPPER T/L OF DIAMOND PATTERN

DIAMOND PATTERN

Diamond patterns usually form over several months in very active markets. Volume remains high during the formation of this pattern. The Diamond Top indicates a reversal to a downtrend.

The Diamond Top pattern occurs because prices create higher highs and lower lows in a broadening pattern. Then the trading range gradually narrows after the highs peak and the lows start trending upward. The Technical Analysis occurs when prices break downward out of the

diamond formation.