Nifty's Target... Can you also see what I see next?

findvikas

findvikas

Well-Known Member
#1
#1
I have been learning chart analysis, thanks to Saint and others for valuable information and a great learning experience so far.

I looked at Nifty daily chart for past 1 year and here is my analysis... would appreciate your comments.

This was not a relentless rally first of all as every one is saying see the chart as we took two breaks already of 3 months each and then rally for one month

Here are some statistical data and my prediction might sound unrealistic but very much possible.

Nifty corrected all the way down to 27 Oct.s low of 2525 and then consolidated in a narrow 500-550 points range with upside capped at 3100 a consolidation of around 18-20%

Then we had a breakout on the upside and take Nifty up 25% within a month from 3100 to form a base at 3900

We then again started to consolidate from 18 may to 4 Sept. in a range of 1000 points it might sound a big range but actually it was again a range of 18%

Now we had a breakout once again everything is positive and if we have to see even 15% gains from 4700 levels that takes us to 5400 levels, follow the green line to see the Nifty expiring above 5100.

Sounds realistic? Can we do it 3rd time? I am not sure and not asking you to bet on it but the future certainly looks great.

 
vishalalluri

vishalalluri

Well-Known Member
#3
#3
findvikas said:
I have been learning chart analysis, thanks to Saint and others for valuable information and a great learning experience so far.

I looked at Nifty daily chart for past 1 year and here is my analysis... would appreciate your comments.

This was not a relentless rally first of all as every one is saying see the chart as we took two breaks already of 3 months each and then rally for one month

Here are some statistical data and my prediction might sound unrealistic but very much possible.

Nifty corrected all the way down to 27 Oct.s low of 2525 and then consolidated in a narrow 500-550 points range with upside capped at 3100 a consolidation of around 18-20%

Then we had a breakout on the upside and take Nifty up 25% within a month from 3100 to form a base at 3900

We then again started to consolidate from 18 may to 4 Sept. in a range of 1000 points it might sound a big range but actually it was again a range of 18%

Now we had a breakout once again everything is positive and if we have to see even 15% gains from 4700 levels that takes us to 5400 levels, follow the green line to see the Nifty expiring above 5100.

Sounds realistic? Can we do it 3rd time? I am not sure and not asking you to bet on it but the future certainly looks great.

Click to expand...
hi vikas nice statistics

Though not as experienced as u but i have been doing some tech anlysis started from teach a man saint and now im in a world of tech analysis he he

a novice but i had been just watching the current trend and have seen no reason nifty should see a correction it s strong technically .

i had given a prediction of 5185 lets see

what more can happen against technicals is we kno the sentiment driven market can come into picture wer in the number 5000 would shock lot of people and u know fear and caution comes across and profit booking starts and correction also comes in the picture

but technicaaly according me i don se any one reason why markets should not go to 5000+ levels



just wanted to share
 
findvikas

findvikas

Well-Known Member
#4
#4
Blame it on Reliance... with 5% down how Nifty could cross 5000 mark... give it a day or two to settle and we will decisively cross 5000 with good volumes. Buls showed already wats in cards by touching it... or maybe a bull trap
 
L

LOVETHEROVER4

New Member
#5
#5
hi vikas we all know nifty successfully crossed 5000 yestrday with heavy vol 47 out of 50 closing in green,but it will be really interesting to that will it sustain 5000,people are getting cautious and we are viewing buyer in 4500 put & 4600 put!so what will be next its really interesting!
whats ur opinion?
 
PGDIMES

PGDIMES

Well-Known Member
#6
#6
The IIP nos. are quite encouraging.:thumb:
 
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