iCharts Discussions

[opportunist]

We can expect 5682 soon probably by the end of this week.

[singh.ravee]

rgds
ravee

[grizzlybull]

agreed.

[sunrays]

5740 is the number guysss...lets rock and have some beer if nifty hits that level

[grizzlybull]

[opportunist]

The forecast turned out to be quite accurate! TA zindabad

Regards,

Opportunist

[grizzlybull]

[opportunist]

I am sticking to my analysis and shorting...nifty is following a declining triangle in the last one year...it should now fall ... and if it goes below 5129 then all hell breaks loose 8O

[grizzlybull]

[vinay28]

for the next few days, I feel one should go long

[grizzlybull]

[vinay28]

First of all, after going from 5185 to 5702, market has to react some way but hasn't given sell signals yet. I understand that it will happen only if NF goes below 5590 but I am no expert in this.

Secondly, I understand, SGX nifty for July traded a few days ago at a peak of 5734 and this may happen next week itself.

I also feel that after that market will go down as much as 10-20 % upto Sept./Nov aftewr that. So July will still be bad.

[beowulf]

NIfty has to cross and close above 5647 and 5660 in the next 2-3 of trading sessions, else it can fall to 5600 and then 5570.
The short term trend still remains positive unless Nifty breaks 5481.

Comments welcome...

Beo

[vinay28]

As per 55 sma basis explained by chirag vyas and which seems to work excellently for medium to long term, Nifty has to go below appx. 5510 first and then NOT close above 5540 the next day. It then becomes a sell.

As per symmetrical triangle concept, nifty has to go below 5460 to indicate major reaction.

Having said this, I am not going to be long after it reaches 5734 unless it closes for three days above 5700.

[opportunist]

The declining triangle pattern seems to be followed with text book precision. Nifty heading for a big fall once it closes below 5213 may be to 4500 levels.