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#1
21st July 2006, 05:39 PM
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Nifty analysis for 21 July 2006
These are my personal musings. These are not in any way meant to be trading advise. The charts are uploaded below this post.
Take a look at the first chart, fibonacci retrace and extn. Contrary to expectation, the bears were indeed able to flex their muscles today. They also managed to close the rising window of yesterday. The bulls, however, managed to restrain the bears by keeping the Index above yesterday’s low of 2920. The Index went into a narrow congestion zone of 20 points in the last three trading hours. The roadblock overhead still holds. Now, let us take a look at the second chart. I have marked out the various peaks and troughs. I have marked out how the peaks and troughs were behaving in the last fortnight or so. After making a couple of higher troughs and peaks, the Index has continuously been making lower peaks and troughs. Today’s low has been higher than the last trough. Therefore, for a bullish move to resume, today’s low of 2930 must be respected. Failing which, we can assume that yesterday’s sharp upward move was yet another bear market rally. That means we could even see a projection level of 2880 to 2851. The positive divergence confirmed at the 2920 level suggests that today’s bottom could hold, and we could see a bullish uptrend resuming from Monday. It does seem a tricky situation to trade in, but then, trading in such volatile markets is never easy. Trade happy. 
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#2
21st July 2006, 05:45 PM
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Re: Nifty analysis for 21 July 2006
Hi Dusant
Good going. A request please, hope you consider it. Can we have a single thread for your analysis. That will help in referring back to your posts, hope you don't mind. Best Regards Coool.
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#3
21st July 2006, 06:48 PM
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Re: Nifty analysis for 21 July 2006
Dear Dusant,
A few suggestions, which I feel you must consider. Firstly, as suggested by cooltetra, start one single thread where you can put your analysis every day. It is easy for other members also for searching and reading. Secondly, in my humble opinion, you may be missing the bigger picture. I learned this from reading the other threads of learned senior members of this Forum. Thanks to Saint, Pankaj Jha, Amit, vvonteru, Vinay Verma and not to forget czar and other senior members (list is endless) of this forum for helping me to train my eyesight in the right direction. See, nifty has collapsed from 11/05/2006 onwards to a low of about 2600. Bounce back from there was hardly 50% of the down move. What does it mean? Bears are quite strong. Will they give up so easily? I do not think so. Have you observed how a cat hunts mouse or cocroach? It does not kill it at one go. Firstly, it disables its pray. Thereafter plays with it as long as it wishes and finally it kills the pray. Bears are now playing with the market in almost a similar fashion. That is why we are having a few days of up move, then down move trapping gullible investors once again. As I put it my every posting, better views, better analysis or better information over my view is always most welcome.
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#5
24th July 2006, 05:41 PM
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Re: Nifty analysis for 21 July 2006
Thank you for your suggestion. This has been suggested to me earlier, but I have intentionally avoided making one thread, for the Nifty analysis. The reason being, after some time, it would make it cumbersome to manage, and read.
If you notice, right at the bottom of the page, there are links which lead to the earlier posts, which can be easily opened in a new window, in case you want to refer to any earlier date. Trade happy. Dusant
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#6
24th July 2006, 05:44 PM
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Re: Nifty analysis for 21 July 2006
Quote:
Where I have I made any predictions? I have just outlined what we can expect what the market may do. Trade happy. Dusant
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Re: Nifty analysis for 21 July 2006
