Weekly analysis of nifty

We know we are in strong bear market & we trading in a big trading range (2600-3200). GDP result drags the us market but reaction not to much by market maker.From here now dow max fall to 7800 area in this current phase because dow monthly charts suggests bullish divergence i.e. big bear market rally is underway. Before starting this rally some noise will definitely come that has happening now . Dow 15 min/30 min chart suggest dow will bounce monday or tuesday.Keep it in mind dow weekly charts suggest some fall from current level.

ok, come to our market. We have made bullish belt-hold candle on last trading day followed by bullish engulfing followed by indecession candle, deceissively closed above important resistance level, weekly charts suggest rally will not fizzled out soon. Very short term chart suggest market will fall due to overbought. India VIX continue to south direction. So all paramitters including global scenario suggest nifty will retest 2800 may be 2750 level if 2% gap down open on monday & strong chance bounce from there to kiss 3000 level within this week .

If market ignore us GDP data then market will face strong resistance at 2900-2920 level in the early part of the week & if nifty suatain that level then it will definitely face strong hurdle at 3000 level &chances are high mkt will retrace temporary to 2830-2850 level & from there mkt will move north direction.

This is my view with the help of current evidence in chart & if chart damaged by strong bears/geopolitical news then we may see 2600 max but possibilities are very thin. Next week will be volatile with positive bias, this expectation comes as per last week trading data.

Remember It is my view, don't trade as per my explain without your analysis.

Happy trading

Pra

FOLLOW UP MY ANALYSIS(AS ON 14-02-09)
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As per prediction mkt exactly come down to 2750 level & from there mkt moving towards 3000 level but to reach 3000 level mkt faces lot of whipsawing & very thin volume. For that reason to reach 1st target 3000 taking lot of time.

Now positive for bulls is mkt closed 6 consecutive days above 20 DEMA & 4 consecutive days above 50 DEMA and another very short term hurdle cross 2958 on intraday basis on 13-02-09 with little high volume. Weekly closed above another important resistance level & mkt well consolidated at 2750-2850 range. Hope mkt will test 3150 level in coming days as per technical chart suggest.

Also chart suggest bears are running now without technical evidence & bulls will arrest if mkt closed 2 consecutive days bellow 2800 level.

Remember this is my view with the help of current evidence in chart & advice don't trade as per my view without your analysis.

Happy trading

Pra

Chart has damaged by Govt. & very next day by global mkt sentiment. Last hope if nifty spot maintain above 2725-33 . If breakout with volume & sustain 2-4 minutes below said range then mkt will attract big sell off immediately.

Very interesting to see how UPA govt. supported big partcipants save indian mkt now.

If this support range not taken out then once again significant rally will happen in coming sessions.

Remember this is my view & do trade as per your analysis.

Happy trading

Pra

DOW below 7600 S&P below 800 FTSE below 4000

markets going only in one direction, and luckily I am on the right one

Due to global scenario indian mkt max come down to 2650(spot) level & from there upward rally expected up to 2850 level in coming sessions. This prediction comes as per previous trading data.

Pl, do trade as per your analysis & above view is my analysis.

Happy trading

Pra

NF trend UP
tgt 5858

Dear Sudoko,

Please start your own thread.........