Re: [Technical-Investor] Where are you going Miss Nifty??

 

Dear AP,

 

Excellent, Analysis, from Intraday to Daily Scenerio. I presumes this could explain a lot of Analytical points, which could help in making decisions, in a live market.

 

Thanks a lot.

 

I remember, a statement by one of the members in the group, very recently. Nifty comes to touch the 200 DMA, atleast once in a year. The sooner the better. I presume, we are just near it, and are getting signals, for support, of a turnaround.

 

Cheers !!!!!!!

 

Ash

----- Original Message -----

From: Abhijit

To: Technical-Investor@yahoogroups.com

Sent: 06/02/2010 4:57 PM

Subject: [Technical-Investor] Where are you going Miss Nifty??

 

I strongly believe, we have seen a bottom at the low of Friday - how long it will hold is something no one can say.

 

Why do I believe this -

 

-    Hourly stochastics are near 5.

-    Positive divergence on RSI

-    Positive divergence on MACD.

-    the 200 dma was almost touched (not necessary to actually touch it)

-    S & P bounced hard from the 200 DMA last night.

 

So guys, wake up early at 5.30 am on Monday and start tracking Nikkei, then Hang Seng which will tell you whether we open flat, gap down, or GAP UP ABOVE 4790, and then start tracking Nifty on SGX till 9 am.

 

But assuming a short  term bottom is in place the first hurdle is the trend line which is near 4830ish.

 

-  Very likely

 

A close above this TL can take Nifty to the first retracement level (38.2%) near 4930.

 

- Likely

 

A close above 4930 will take Nifty to the 200 HMA near 5107 - of course, by then this 200 HMA would have come down a bit, and will not remain at 5107.

 

hmm....Not impossible.

 

A close above 5107 will take Nifty to the final hurdle 5180 (61.8%), and beyond this the parallel channel top can also be a target - 5400 - 5450!!

 

- Difficult to believe!!

 

It is all happening on a screen in front of you next week - stay tuned...:)

 

All the above can be options for a POLL?  ....hehehe

 

AP

 

 

__._,_.___

Reply to sender | Reply to group

Messages in this topic (2)

Recent Activity:

• New Members 15

Visit Your Group Start a New Topic

For Forum Rules of Conduct & Disclaimer, please go through

http://finance.groups.yahoo.com/group/Technical-Investor/files/!Forum Rules of Conduct.txt

Switch to: Text-Only, Daily Digest • Unsubscribe • Terms of Use

.

__,_._,___