iCharts Discussions

chandrujimrc · Brown Belt Joined: 21 Apr 2009 Posts: 1683

Be cautious,nifty is trying to cross last month high and also enter in to yearly closing within the upward straight channel.If unable to cross severe correction will be there.

amitagg · Black Belt Joined: 01 Oct 2013 Posts: 4559

Like your nice timely interjections ( and posts only when required)

Just to add a little bit:::::

It seems an x wave up and a corrective move
Or a diametric correction ; Hence a fall down “is inevitable”

CMP 10480 ( high 10520) today on 13 4 2018

It also at 50 percent retrace level and not cleared min 61.8 retrace

Would warrant change of view above 10700-1800

chandrujimrc · Brown Belt Joined: 21 Apr 2009 Posts: 1683

Nifty is trying to maintain the close above yearly close.

chandrujimrc · Brown Belt Joined: 21 Apr 2009 Posts: 1683

Nifty is very adamantly trying to maintain above 10530.If we get weekly/monthly close above this there is a chance to retest of jan 2018 high.Otherwise downward journey will start.

Sun08 · White Belt Joined: 21 Aug 2017 Posts: 478

chandrujimrc · Brown Belt Joined: 21 Apr 2009 Posts: 1683

Nifty already got the weekly close above yearly close now waiting for the monthly close and also close above last month high.

chandrujimrc · Brown Belt Joined: 21 Apr 2009 Posts: 1683

Dear amitagg sir,
Thank you sir,sorry for the delayed msg.

chetan83 · Brown Belt Joined: 19 Feb 2010 Posts: 2036

chandrujimrc · Brown Belt Joined: 21 Apr 2009 Posts: 1683

Be alert once again nifty closed below the yearly close.

Niftyman · White Belt Joined: 22 Mar 2015 Posts: 340

So what !!!!

chandrujimrc · Brown Belt Joined: 21 Apr 2009 Posts: 1683

Let us hope for the weekly/monthly close again above the yearly close for further up move.

chandrujimrc · Brown Belt Joined: 21 Apr 2009 Posts: 1683

Till we get a weekly/monthly close below 10530 there is a chance for Nifty up move,but PE value of Nifty as on 11/06/2018 is 27.47(Bank nifty PE----34.52) which is in an extremely bullish and over bought zone.So be alert.It is my view only.

chandrujimrc · Brown Belt Joined: 21 Apr 2009 Posts: 1683

Nifty has broken the trend support line.Be alert if we get weekly/monthly close below 10530 there will be a big trouble.

chandrujimrc · Brown Belt Joined: 21 Apr 2009 Posts: 1683

Nifty again crossed the upward trend line,if it closes above this line,slowly it will try to cross Jan 2018 high with minor res at 10895 & 10930.So far going good with upward bias but due to high PE value trailing S/L is a must.For intra day nifty will try to hit 50sma in 5 mnt tf.It is my view only.

chandrujimrc · Brown Belt Joined: 21 Apr 2009 Posts: 1683

Non stop rally from monthly S1 10546 to R1 10888,so nifty will take some rest to clear some moving average over dues.Two consecutive close or weekly close above R1 is a must for further up move.What ever it is,TSL is a must for long position holders due to high PE value.This is my view only.Do your analysis.