NIFTY 25.07.10 (B)

WEEKEND EDITION:

NIFTY WEEKLY CHART 

RISING WEDGE: NIFTY HAS FORMED WHAT LOOKS LIKE A RISING WEDGE PATTERN ON WEEKLY CHART WHICH IS A BEARISH SIGNAL


IN ODER TO NEGATE THIS PATTERN NIFTY HAS TO BREAK THE UPPER TRENDLINE  WHERE THE RESISTANCE IS AT 5500

IN CASE OF BREAKDOWN THE TARGET WOULD BE CALCULATED AFTER THE BREAK OF THE LOWER TRENDLINE

NIFTY 25.07.10(A)

NIFTY DAILY CHART :

TRENDLINE: NIFTY HAD TAKEN SUPPORT AT VARIOUS POINTS(DIAMONDS) AS SHOWN ABOVE ALONG THE TRENDLINE 


AS THE TREND LINE IS VERY STEEP VALIDITY  WOULD BE QUESTIONED IN CASE OF BREAKDOWN FROM THESE LEVELS

BOLLINGER BANDS

HOW TO ANALYSE BOLLINGER BANDS ?

NIFTY 18.07.10

WEEKEND EDITION :


NIFTY WEEKLY CHART :


BOLLINGER BANDS : NIFTY FACED RESISTANCE AT 5450 WHICH IS THE UPPER END OF THE BOLLINGER BANDS ( PINK ARROW) 


ON PREVIOUS OCCASION ALSO NIFTY HAS FACED RESISTANCE AT UPPER BAND (DIAMONDS ) 


SUPPORTS:  5345 ,5325,5310

NIFTY 13.07.10

I AM POSTING VIDEO ABOUT HOW DIVERGENCES IN RSI CAN USED TO PREDICT THE MOVEMENT OF MARKET

NIFTY 11.07.10

 

"WEEKEND EDITION"

NIFTY WEEKLY  CHART :


RELATIVE STRENGTH INDEX(RSI):( FROM 10/06/09 TO TILL DATE)


 THERE ARE 2 POSSIBILITIES

1 ) BEARISH DIVERGENCE : AS SEEN FROM THE ABOVE CHART  NIFTY HAS BEEN MOVING UP  ACCOMPANIED BY FALL IN RSI , WHICH IS MAKING LOWER HIGH

THUS  THIS IS  AN INDICATION THAT WE COULD SEE A FALL IN  THE MARKET IN NEAR FUTURE


2 )TRENDLINES: RSI IS FACING RESISTANCE AT THE UPPER TRENDLINE  , WHICH IS VERY IMPORTANT TO BREAK IN ODER FOR IT TO MOVE HIGHER FROM HERE


IF THIS TRENDLINE IS BROKEN ON THE UPSIDE THEN 5475 AND 5500 ARE THE NEXT POSSIBLE TARGETS

NIFTY 09.07.10

NIFTY DAILY CHART :

" FLAG BREAKOUT ":  NIFTY HAS  FINALLY GIVEN A BREAKOUT FROM THE FLAG PATTERN AT 5300  WITH GOOD VOLUMES( THUMPS UP)  AND CLOSED AT 5352

BOLLINGER BANDS : NIFTY HAS RESISTANCE AT 5360 - 5370 WHICH IS THE UPPER BAND LEVEL

LEVELS TO WATCH OUT  :
RESISTANCE : 5370 ,5382 , 5396