Nifty analysis for 27 July 2006

Dusant · #1 28th July 2006, 09:06 AM

Disclaimer: These are my personal musings and only meant for entertainment, not as trading advise. The link for the chart is below this post.
As was expected, the bullish run continued.
There was a minor hiccup during the day, but not enough to unnerve traders. The real test would now begin, where the Index will retest its earlier resistance zone.
And as is said in Technical Analysis, “till evidence to the contrary, the previous trend is assumed to continue”. Since the previous short term trend is bullish, we could continue to keep approaching the market with the same stance.
We also notice that earlier, the bears have been quite successful at the 3200 zone. Will they be beaten this time? It seems unlikely that they are going to give up easily.
However, if we step back and notice the forest rather than the trees, the weekly chart suggests a large bullish candle, for this week ending today. Therefore, we could assume that this time around the bears could be overwhelmed by the bulls.

gkdoda · #2 28th July 2006, 02:38 PM

Hello Dusant,

Can u please tell me the software you're using for these charts and technical studies?

Thanks

Dusant · #3 28th July 2006, 03:10 PM

The software used is Metastock. However, Please remember, the software is not important. It is just a tool. Remember, the analyst uses a software, the software does not make an analyst.

gkdoda · #4 31st July 2006, 08:42 AM

I fully agree with you. Just want to know any free software softwares for Indian Stock Market with ADX, DMI, RSI, Fibnocci indicators and oscillators. I understand that MetaStock is not a free software.

Thanks

inxsofme · #5 31st July 2006, 12:49 PM

Hello all,

gkdoda sir there are many software that are presently free, u'll need to check out our forum of softwares. to name a few there is aptistock, blogtrader, fibotrader and others. some websites also can be of help to members who do not have a software - icharts.co.in , finance.********** infact there are a plenty of those, i hope that u'll be able to help urself with this info else there are a lot of persons here to help, don't worry soon u'll have a software for urself.

Cheers
Gaurav

AJAY · #6 31st July 2006, 12:59 PM

Dear Dusant,
very nice to read your analysis on nifty every day. Pl. keep going. One suggestion is if possible please make it in one thread, instead of making a thread everyday, so that all the postings can be at one place- making our life easier

to look into the previous posts also as and when it is required. Consider this if it is possible only. But please keep it going as per your convenience.

Thanks

AJAY

Similar Threads for: Nifty analysis for 27 July 2006
Thread	Thread Starter	Forum	Replies	Last Post
Nifty analysis for 25 July 2006	Dusant	Futures	2	26th July 2006 06:57 PM
Nifty analysis for 24 July 2006	Dusant	Futures	0	24th July 2006 05:56 PM
Nifty analysis for 21 July 2006	Dusant	Futures	5	24th July 2006 05:44 PM
Nifty analysis for 20 July 2006	Dusant	Futures	0	20th July 2006 05:46 PM
Nifty analysis for 18 July 2006	Dusant	Futures	8	19th July 2006 10:03 AM