NIFTY 26.02.10 (B)

NIFTY WEEKLY CHART:

50% RETRACEMENT: NIFTY MADE A HIGH OF 4992 WHICH IS 50%
RETRACEMENT OF THE RALLY FROM 5310 ( 6TH JAN 2010) TO 4675 (8TH FEB 2010).

NIFTY 26.02.10

NIFTY DAILY CHART :

BUDGET VOLATILITY: NIFTY WENT PAST 4923 AND 4950 WHICH WERE STRONG RESISTANCE LEVELS ,ON ACCOUNT OF GOOD BUDGET ANNOUNCEMENT .

50% RETRACEMENT: BUT BY AFTERNOON NIFTY STARTED TO GIVE UP ALL THE GAINS AND CLOSED AT 4922.30 WHICH IS 50% OF THE ENTIRE RALLY FROM 4538 TO 5310( BLUE ARROW)

RESISTANCE: NIFTY WILL FACE RESISTANCE AT 5000, 5015

NIFTY 25.02.10

NIFTY DAILY CHART :

ONCE AGAIN: TODAY NIFTY MADE A LOW OF 4835 WHICH IS CLOSE TO 61.8% OF THE RALLY AT 4832

THUS NIFTY HAS TAKEN SUPPORT AT 4832 AND AROUND THOSE LEVELS FOR 3 CONSECUTIVE DAYS WHICH PROVES THAT 4832 IS VERY CRUCIAL LEVEL .

BUDGET: TOMORROW BEING THE "D" DAY FOR THE MARKET ,WE COULD HAVE VERY CHOPPY SESSION .

SUPPORT: NIFTY HAS SUPPORT AT 4805 ,4750 AND 4735

NIFTY 24.02.10

NIFTY DAILY CHART :

"61.8%":NIFTY HAS TAKEN SUPPORT AT 4834 WHICH CLOSE TO LEVEL OF 4832 WHICH IS 61.8 % OF THE RALLY FROM 4538 TO 5310

IN FACT ON 23.02.10 NIFTY HAD MADE A LOW OF 4833 WHICH IS ALSO CLOSE TO THE ABOVE LEVELS

THUS 4830 IS A STRONG SUPPORT FOR NIFTY AFTER WHICH THERE IS SUPPORT AT 4815

NIFTY FUTURE 23.02.10

NIFTY FUTURE 5 DAY 30 MIN:

SYMMETRICAL TRIANGLE : THE ABOVE IS SELF EXPLANATORY WHERE NF HAS TAKEN SUPPORT AND FACED RESISTANCE AT VARIOUS POINTS .(MARKED WITH YELLOW ARROWS)

NIFTY FUTURE 22.02.10 (B)

NIFTY FUTURE 5 DAY 15 MIN:

MACD(MOVING AVERAGE CONVERGENCE DIVERGENCE):


GO SHORT: WHEN NF WAS AT 4903 SHORT SIGNAL WAS GIVEN WHEN MACD SIGNAL LINE GAVE A NEGATIVE CROSSOVER AFTER WHICH IT MADE A LOW OF 4849 AND CLOSED AT 4850

NIFTY FUTURE 22.02.10 (A)

NIFTY FUTURE 5 DAY 15 MIN :

TRENDLINE : NF TOOK SUPPORT AT POINTS (YELLOW ARROWS) SHOWN ABOVE ON THE TRENDLINE WHICH IS DRAWN FROM 17.02.10

AT 4980 THE TRENDLINE WAS BROKEN AFTER WHICH IT MADE LOW 4845 AND CLOSED AT 4850

VOLUMES: AFTER BREAKING 4980 VOLUMES STARTED TO INCREASE WITH EVERY RED CANDEL