NIFTY 12.09.10

WEEKEND EDITION

NIFTY WEEKLY CHART 

RESISTANCE:  "5677" IS AN IMPORTANT LEVEL FOR NIFTY  WHERE IT WILL  FACE RESISTANCE  

THE ABOVE HORIZONTAL LINE IS A  CLASSIC EXAMPLE OF SUPPORT BECOMING RESISTANCE WHEN  INDEX STARTS TO MOVE UP

NIFTY 12.09.10

WEEKEND EDITION

NIFTY DAILY CHART :

FIBO LEVELS:  IF WE TAKE THE RECENT FALL IN THE NIFTY FROM 5550 TO 5348 AND CALCULATE THE  FIBO LEVELS  , WE ARRIVE AT VERY IMPORTANT LEVELS WHERE NIFTY WILL FACE RESISTANCE


AT 161.8% RETRACEMENT OF THE ABOVE MENTIONED LEVELS COMES AT 5675 WHICH WILL ACT AS STRONG RESISTANCE

NIFTY 04.09.10

NIFTY DAILY CHART

NIFTY 04.09.10

NIFTY DAILY CHART 

TRENDLINE : THE ABOVE TRENDLINE IS FROM  JAN'10 HIGH (5310) CONNECTING APRIL '10 HIGH (5400) TILL AUG'10 HIGH ( 5499) WHICH UPON EXTENSION WE CAN SEE NIFTY MIGHT FACE RESISTANCE AT 5570


VOLUMES : VOLUMES HAVE BEEN DECLINING BETWEEN THE PERIODS AS MENTIONED  ABOVE

NIFTY 04.08.10 (A)

WEEKEND EDITION

NIFTY DAILY CHART 


TRENDLINE:  IN THE ABOVE CHART  THE TRENDLINE IS  FROM JAN '08 HIGH ( 6357) TO AUG'10 HIGH (5549)  WHICH UPON EXTENSION WE CAN SEE NIFTY WILL FACE RESISTANCE 5540

NIFTY 29.08.10

NIFTY DAILY CHART :

RSI( RELATIVE STRENGTH INDEX) : 

BREAKDOWN :RSI HAS BROKEN THE LOWER SUPPORT LINE AT 52 LEVELS 


DOUBLE TOP : RSI HAD MADE DOUBLE TOP ( "EXIT") WHEN NIFTY WAS AT 5540 AND 5550 LEVELS .

WILL HISTORY REPEAT ITSELF?? :

SIMILAR DOUBLE TOP IN RSI WAS LAST SEEN IN APRIL 2010 WHEN NIFTY HAD REACHED 5400 AND WE CRASHED TO 4800 LEVELS

NIFTY 29.08.10

NIFTY DAILY CHART :

MOVING AVERAGES: NIFTY  AT 5391 ( DAY'S LOW) HAD TAKEN SUPPORT AT 50 DAY (SMA) 


MULTIPLE TOPS:  AT 5445 AND 5450 WE HAD SEEN NIFTY  TOPPING OUT 3 TIMES ( FROM 19/08/10 TO 23/08/10) THUS  IT WAS AN INDICATION THAT MARKETS WERE GETTING STRETCHED AROUND THESE LEVELS AND FALL WAS COMING