Nifty analysis for 27 July 2006

#1
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.
 

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#3
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.
 
#4
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
 
#5
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.yahoo.com 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

Active Member
#6
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
 

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