Sensex

Wednesday, February 03, 2010

Re: SPAM-LOW: Re: [Technical-Investor] Be causious on Nifty : But good sign of further upmove

 

Hi Prashant.
 
I am sorry running out of time and need to rush for a meeting at 3.00. Briefly i have attached one daily chart from Advance get where you can see the retracements from major Pivots and also if you see there is a buy signal given by Stochastic after a false sell signal, which is as per my experiance is a stong signal.
 
Again on the intraday chart  in Metastock there is a upward breakout on a intraday 15 min chart, currently we are traiding near 61.8%, as per my experiance minimum target is always between 50% and 61.8% which we have already crossed, and if it consitently maintains above it then most of the time it touches the 100% projection line.
 
Again this was confirmed by few more indicators. As per advanced Get we are in short term bear market and wave 4 is under process, but as per my experican this is not wave 4 but wave C of a correction and new wave 1 is under way becasue more than 85% times Wave 3 will be loggest wave and if not then Wave 5 goes for a extension where you can see very high level of volatility and then a big bear market, which I do not feel is case in Nifty.
 
 
Regards,
Vikash
 
 
 
----- Original Message -----
Sent: Wednesday, February 03, 2010 1:31 PM
Subject: SPAM-LOW: Re: [Technical-Investor] Be causious on Nifty : But good sign of further upmove

 

Also, could we have some charts please.


Cheers

Prashanth

On Wed, Feb 3, 2010 at 11:29 AM, Sneha <snehatilwani@yahoo.com> wrote:
 

Dear Friends,

I am sorry I was not in town yesterday so was unable to reply to few of our friends.

Now nifty is trading above its 50% Retracement of 4917 (which is taken from low of 4531 and high of 5303).

This is critical resistance for Nifty , the next target for nifty will be 5008 and 5110.

Support side nifty has support at 4826. (this is major one, nifty has aredy tested this level 4 times, so if it closes below that then there may be short term worry and market can head towards 4600 (but again this is short term, long term market is bullish)

Use of stoploss : As per my experiance and suggestion, whenever you put a stoploss put it few points away from its actual stoploss, otherwise you might see that it hits the stoploss and again goes back to its level.

Recomendation: Today's market is very volatile, if it sustains then its really good for market and might be a new rally upwards, but same time if it falls then 4600 is not rulled out, so i will suggest to stay out for today as it has already 90+ point high.

If anyone is needs techincal view support and resistance then please mail me, i will try to provide it as soon as possible.

Today I am online so you can expect quick reply and again its FREE so do not hesitate.

Note: This is just personal view if you are trading on this, please trade use your experiance, expertise and trade on your own risk.


Regards,
Sneha

 


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Posted by nsivaa at 12:35 AM

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