Nifty & Banknifty Daily and Weekly analysis

Dear Friends,
:clap:
we are starting here new thread for betterment of all of us.
we all are students and study is a life long process,
we must continue it...
Hope we all learn something from it.
Please give your frank openion when ever you feel.
I will try to follow all rules and regulations of Traderji, if I missed out something respected moderators please guide me for the same.
Thanking you,
Veen Money

Sorry for starting late, as I was out of station.
After very good relly yesterday today nifty is bit lasy.

so it may be short covering relly yesterday and fresh buying yet to start..

5min chart showing double top in Nifty Cash (Adam and Eve double top)

lets see the breakout downside if it breaks 4920 in cash level, down may be upto 4890 and
4878 may be the first bounceback zone.

Just writing the post meanwhile it has given breakout..
wait for targets
stoploss will be high of double tops.

Hellow friends,
first target achived
exact low of 4888

chart for you friends..

hi Veen
i am new comer to this blog and budding trader,
I hope we will get same kind of knowledge further,
keep it up
great..:clapping:
Dipesh

Hi Friends,
Just check today's low.. it's 4878.5
Great bounceback from this level..
Happy Trading
Regards,
veen

Gr8 veen
Keep it up...........one question that how did u get bounceback zone tgt1 and tgt2?

can ur theories be extended to swing trades also?

Hi Jassinko,
It is not swing trade,
target 1 and 2 were according to pattern formation and bounce back zone we have to calculate with many different mathods
some people say it guessing and some say it prediction
happy trading
veen

for 18-2-2010

Down View:
yesterday's low of 4878.5 has significance here and it must be intect for further up move of NF,
if NF will breks fall upto 4844 and maximum upto 4810 may be seen > crucial Bounce back zone below 4878 is around 4824

UP View:
NF must trade above and with volume it has to break 4930-32 then a very minor resistence around 4950 (according to blue chennels) but trade above and close above 4930 will take upto 4975-80 levels, if NF wants to go there it has to be with good volume and with good OI buildup, further up side possible if NF gives weekly close above this level (4980)

Happy Trading...

Veen Your every trade...:thumb:
Veen