NIFTY WEEKLY 22.01.10

NIFTY WEEKLY :

RISING WEDGE:
THIS IS A CLASSIC EXAMPLE OF RISING WEDGE PATTERN WHERE THE LOWER TREND LINE WAS BROKEN AND NIFTY CLOSED AT 5036

CREDITS: CHIRAG PAREKH

NIFTY 22.01.10

"BLOODBATH"

CRUCIAL SUPPORT:

NIFTY TOOK SUPPORT AT 5083 YESTERDAY (21.01.10) WHICH IS 61.8% RETRACEMENT OF THE ENTIRE RISE FROM 21/12/09 (4943) TO 6/01/10 WHERE IT MADE HIGH OF 5310

TODAY IT MADE A LOW OF 4954 WHICH IS CLOSE TO 4940 WHICH IS VERY IMPORTANT LEVEL

NEXT LEVELS :

4940 IS CRITICAL LEVEL TO WATCH AFTER WHICH 4920 AND 4900

NIFTY FUTURE 22.01.10

NIFTY FUTURE 5 DAY 15 MIN:

MACD(MOVING AVERAGE CONVERGENCE DIVERGENCE):


GO LONG:WHEN NF WAS AT 5013 MACD LINE GAVE A POSITIVE CROSSOVER THUS BUY SIGNAL WAS GIVEN AFTER WHICH NF MADE A HIGH OF 5274 AND CLOSED AT 5015

Gold Feb 20.01.10

CHANGE: As i did not find anything interesting in nifty future so i am uploading Gold future chart


Gold Feb 20.01.10: ( Update till 7.30 pm IST)

Head and Shoulders:

The above chart is self explanatory where neck line was broken at 16845 with huge volumes after which it made low of 16777

NIFTY FUTURE 18.01.10

NIFTY FUTURE 5 DAY 10 MIN:

MACD(MOVING AVERAGE CONVERGENCE DIVERGENCE):


GO LONG:WHEN NF WAS AT 5276 LINE GAVE A POSITIVE CROSSOVER THUS BUY SIGNAL WAS GIVEN AFTER WHICH NF MADE A HIGH OF 5290


GO SHORT: WHEN NF WAS AT 5283 SHORT SIGNAL WAS GIVEN WHEN MACD SIGNAL LINE GAVE A NEGATIVE CROSSOVER AFTER WHICH IT MADE A LOW OF 5256 AND CLOSED AT 5269.70

NIFTY FUTURE 15.01.10

NIFTY FUTURE 5 DAY 15 MIN

NIFTY FUTURE 14.01.10

NIFTY FUTURE 5 DAY 10 MIN:

MACD(MOVING AVERAGE CONVERGENCE DIVERGENCE):

GO SHORT: when NF was at 5267 short signal was given when MACD signal line gave negative crossover after which it made a day low of 5244 and closed at 5261