Empirical Evidence of Nifty Movement ..

Loss of confidence in market with Investors / Traders / Analysts !!!

what Next ?? We will see the charts below and take comforts after this Blood Bath ..

I have given charts of Nifty Spot with RSI Study and its observed that whenever RSI comes to 30 level, Nifty has bottomedout and rocked on upside by 500 to 700 points.

This time should be no different, I presume, going by the past movements of Nifty and its time to shop for good stocks with strong fundamentals for investment perspective at lower levels.

http://www.imagebam.com/image/6b0dd2117315287
http://www.imagebam.com/image/600fab117315297
http://www.imagebam.com/image/1cba39117315308
http://www.imagebam.com/image/ce494e117315325
http://www.imagebam.com/image/956759117315339
http://www.imagebam.com/image/f3f801117315350
http://www.imagebam.com/image/40b980117315361

Best Wishes

C T RAMESH RAJA

Thanks for sharing this finding.
But I will put a rider that the cases that u have mentioned are during the bull market.

Else, can u plz the cases from 2008 jan, mar, june, july, oct or 2006 may as well.

I am not saying that we are in 2008 like situation now, but as chart reader, we can't predict the right side of the chart hence we need to be open to any possiblity.

Let price confirm if it is going up, else this type of biased analysis could be dangerous.

happy trading.

Excellent observation.
As rightly said,one should look to buy fundamentally strong scripts w/o worrying too much as to whether market has bottomed out or not.
Perhaps,to safeguard,qty of buying could be rationalised.
In my opinion,we r still in Bull mkt & correction is taking place.
I have been following Mr.Ramesh raja in icharts since 2007 when he had predicted the begining of Bull mkt way back with Nifty tgt of around 6000 & correction from there.

Rameshbhai, your chart dated 29.1.11 says that "Nifty is due for bottoming out sooner than later" . There has been some serious downside since then, with nifty touching sub-5200 levels. Is that the bottom? or are we yet to see the bottom?

It says further "can move up 500-700 points" can move up from where? 5400??

Emperical evidence seems to be powerful. Is 5700 approaching?

Dear Mr.RR,
Lot of water has flown since your posting.
Nifty reached 6000 level as per yr prediction & reversed & our compliments on yr technicals.
Is the correction is over & what are yr views to enter the mkt.

Mr. Rangarajan,

You claim you are the follower of C T RAMESH RAJA from icharts.. then you must be follwoing him .. that he had been shouting for the last 6 months, 5125 as SL on closing basis. Need i add more..

regards,

Sunil

Dear Sunil,
I am aware that he had recommended Long on Nifty from his Personnel site with 5125 as S/l.

But,my intention of asking his opinion was two fold:
a) His reply in this forum would benefit all the Traderji members
b) A realistic closer s/l would be more benificial to small traders as nifty was trading around 5200 (which i dont remember exactly.)