NIFTY FUTURE 27.11.09

NIFTY FUT 5 DAY 15 MIN: "DUBAI SHOPPING"

MACD : MACD GAVE A CLEAR REVERSAL SIGNAL AT 4807 WHEN MACD LINE GAVE A POSITIVE CROSSOVER AFTER WHICH NF MADE HIGH OF 4960 AND CLOSED AT 4946

MACD HISTOGRAM: ANOTHER REVERSAL CONFORMATION WAS GIVEN BY MACD HISTOGRAM WHEN IT MOVED UP FROM ZERO LINE

NIFTY FUT 26.11.09 (B)

NIFTY FUT 5 DAY 5 MIN:

FIBONACCI RETRACEMENT: I HAVE TAKEN RETRACEMENT FROM PREVIOUS DAY'S HIGH (5138) TO THE LOW OF 24.11.09 WHICH WAS 5052 (MARKED IN BLUE )

THE ABOVE CHART SHOWS THAT NF FACED RESISTANCE AT 61.8% AT 5085(MARKED WITH ARROWS) WHICH IT TOUCHED TWICE (ALSO DOUBLE TOP) AND CAME DOWN HEAVILY AND CLOSED AT 5005 VERY CLOSE TO 161.8% OF THE RALLY WHICH IS AT 4999

BIG VOLUMES:

TOTAL TURNOVER WAS AT 1.59LAKH CR ( HIGHEST EVER )

F&O TURNOVER : 1.37LAKH CR

NIFTY FUT 26.11.09(A)

NIFTY 5 DAY 5 MIN:

WEAK FINISH : I HAVE DRAWN TREND LINE (IN BLUE) FROM 24.11.09 TO YESTERDAYS CHART (25.11.09) AND WHICH I HAVE EXTENDED IT IN TODAY'S CHART
IT FACED RESISTANCE AT 5108(MARKED WITH THUMBS DOWN)

I HAVE ALSO DRAWN 2 TREND LINES CONNECTING FROM YESTERDAYS CHART WHICH I HAVE EXTENDED IT IN TODAY'S CHART , WHICH CLEARLY SHOWS THE VARIOUS POINTS AT WHICH IT TOOK SUPPORT AND FACED RESISTANCE (MARKED WITH DIAMONDS)

ONCE THIS LOWER TREND LINE WAS BROKEN AT 5055 NF CLOSED AT 5005

NEXT SUPPORT IS AT 4965,4950 , 4935(VERY IMP) AND 4900

NIFTY FUT 25.11.09 (B)

NIFTY 5 DAY 15 MIN:

MACD ( MOVING AVERAGE CONVERGENCE DIVERGENCE) : MACD GAVE A SHORT SIGNAL WHEN THE MACD SIGNAL LINE GAVE NEGATIVE CROSSOVER AT 5130 (VERTICAL LINE) AFTER WHICH IT MADE A LOW OF 5098

NIFTY FUT 25.11.09(A)

NIFTY FUT 5 DAY 5MIN:

TREND SUPPORT: IF YOU REFER TO MY YESTERDAY'S POST WHERE I HAD DRAWN 2 TREND LINES WHICH I HAVE EXTENDED IT IN TODAY'S CHART (IN BLUE)

24.11.09 NF CHART

NF TOOK SUPPORT AT VARIOUS POINTS (SHOWN WITH DIAMONDS) BUT WAS BROKEN AT 5130 AFTER WHICH IT MADE A LOW OF 5098

NIFTY FUTURE 24.11.09 (B)

NIFTY FUT 5 DAY 5 MIN:

NF HAS CLOSED AT VERY CRUCIAL LEVEL OF 5073 AS SEEN FROM THE ABOVE CHART

IT HAS GOOD SUPPORT AT 5050 ,5030 AND 5020
NF COULD FACE RESISTANCE AT 5095, 5120 AND 5135

NIFTY FUTURE 24.11.09 (A)

NIFTY FUT 1 DAY 1 MIN:

NF HAD MADE DOUBLE TOP (DOWN ARROW) AT 5101 AFTER WHICH IT CAME DOWN AND MADE DAY LOW OF 5050

SHORT TRADE COULD HAVE BEEN INITIATED AT THE BREAK OF THE TREND LINE AT 5093 AFTER WHICH NF WENT 5070

NIFTY FUT 23.11.09

NIFTY FUT 1 DAY 1 MIN:

NIFTY FUT GAVE A BREAK OUT AT 5080 WITH GOOD VOLUMES CLOSED AT 5101.

NIFTY FUT 20.11.09(C)

NIFTY FUT 5 DAY 5 MIN:

CANDLESTICK PATTERN: DRAGONFLY DOJI

WHEN NF WAS AT 4944 IT MADE DRAGONFLY DOJI PATTERN WHICH IS BULLISH REVERSAL PATTERN WHICH SIGNALS REVERSAL IN TREND.FROM THERE NF STARTED TO RECOVER AND CLOSED 90 POINTS + AT 5077.10

CREDITS: CHIRAG PAREKH AND SANDESH DALVI

CHARTS UPDATED BY RITESH BHANSALI

MORE INFO ON DRAGONFLY DOJI:

http://www.onlinetradingconcepts.com/TechnicalAnalysis/Candlesticks/Dragonfly%20Doji.html

NIFTY FUT 20.11.09(B)

NIFTY FUT 5 DAY 5 MIN:

IF YOU OBSERVE THE ABOVE CHART NF WAS IN A CONTINUOUS DOWN TREND FOR LAST 2 DAYS UP TO THE POINT WHERE IT REVERSED TODAY AND CLOSED IN POSITIVE

NF BROKE OUT FROM FALLING WEDGE WHICH IS BULLISH SIGNAL

NIFTY FUTURE 20.11.09 (A)

NIFTY FUT 1 DAY 1 MIN:

BULLISH FLAG: NF HAD MADE BULLISH FLAG AND BROKE OUT WITH GOOD VOLUMES AT 5060 AND CLOSED AT 5077

SHORT COVERING: THIS SUDDEN RISE WITH GOOD VOLUMES IN THE AFTERNOON CAN ALSO BE BECAUSE OF SHORT COVERING WHERE ALL THE SHORTS HAVE COVERED THEIR POSITION

NIFTY FUT WOULD FACE RESISTANCE AT 5080 (WHICH IS CLOSE) AND 5100 AND ON THE DOWNSIDE IT HAS SUPPORT AT 5050 AND 5030,5020