Incisive Nifty Trend Analysis

[vinst]

Normally, Market move in a cycle and the cycle will end in Yearly Fibo Levels.

As per yearly level 5971.25 act as strong support and s/l is 6037.

When nifty moved higher and cutting this (from top) 5971.25 level on 7th February (daily candle) closed below this level first sign of nifty uptrend came to Halt. From that day onwards nifty only sell and buy. Again nifty has tested 8th March same level (5971.25) to convert everybody into Long before going into deep correction (that is the time everybody was talking 6300 + + +++).

Now yearly level "MAY" take support at 5235, let us hope.

If we understand the cycle

Daily -> Weekly -> Monthly -> Yearly -> Monthly ->Weekly ->Daily

Then taking trade is very easy without hitting our stoploss and run the position into good profit.

Let us see, ultimately market has to decide the cycle.


Nirahjan

Nirahjan,
What's yearly fibo based on? Previous year H, L or H, C or L, C ?

 

[jamit_05]

Normally, Market move in a cycle and the cycle will end in Yearly Fibo Levels.

As per yearly level 5971.25 act as strong support and s/l is 6037.

When nifty moved higher and cutting this (from top) 5971.25 level on 7th February (daily candle) closed below this level first sign of nifty uptrend came to Halt. From that day onwards nifty only sell and buy. Again nifty has tested 8th March same level (5971.25) to convert everybody into Long before going into deep correction (that is the time everybody was talking 6300 + + +++).

Now yearly level "MAY" take support at 5235, let us hope.

If we understand the cycle

Daily -> Weekly -> Monthly -> Yearly -> Monthly ->Weekly ->Daily

Then taking trade is very easy without hitting our stoploss and run the position into good profit.

Let us see, ultimately market has to decide the cycle.

Nirahjan

On the Monthly Leg (weekly cycle) the Three Important Fibonacci Retracements (most respected ratios) are 0.38, 0.50, 0.618;

Of these 0.38, which was at 5600, already caused a dull bar by stopping bearish momentum.

Now, its 0.50 Ret's turn. Around 5440 the momentum is very likely to pause (giving at least one up-day). Where a rally will give a chance to add to short positions.

Then, 5280. It is not a science so leave room for deviation.

Just my view point. Also, I completely agree with you cycle theory.

Following is the Fib Ret of the monthly leg..

 

[Bewinner]

Prada...a meaningful short covering sets in as per your level i.e. 5500-5530...now what next ? How far this retracement will go? Eagerly waiting for your view..

 

[NANDAMAD]

Sir,

Superb predictions on INFY and TAMO. TONS of congratulations.

 

[Bewinner]

Prada...
waiting for your nifty analysis...

 

[prada]

@Bewinner , I'm traveling and hence I'm unable to find time to post my analysis. Will try and do so at the earliest. In the meanwhile go through my last post on nifty update to get the cues.

Prada...
waiting for your nifty analysis...

 

[prada]

Nifty Update: Looking at bank nifty and USD/INR, gives me a feeling that either Nifty has topped out at today's high or is not too far away from it. Bank Nifty as usual has shown topping out pattern in advance and is clearly a safe shorting candidate since upside in it is extremely limited from these levels. In any case Nifty should resume its downtrend very soon and start targeting lower levels. Roller coaster ride coming up!

 

[timepass]

Nifty Update: Looking at bank nifty and USD/INR, gives me a feeling that either Nifty has topped out at today's high or is not too far away from it. Bank Nifty as usual has shown topping out pattern in advance and is clearly a safe shorting candidate since upside in it is extremely limited from these levels. In any case Nifty should resume its downtrend very soon and start targeting lower levels. Roller coaster ride coming up!

What are you seeing in USD/INR in short term ? I have a feeling that the govt. will do its best to ensure rupee appreciation, the various elections being near and all. Also, the retail prices of petrol being reduced is an advance indicator of rupee strength (my personal opinion).

 

[Bewinner]

Prada...
Thanx for your update...
Is there any trade which can be taken now other than nifty and bank nifty?

 

[Bewinner]

Prada...
Thanx for your update...
Is there any trade which can be taken now other than nifty and bank nifty?