iCharts Discussions

[daytrader007]

NF level now: 4470.

First I want to make discloser. I do not hold any positional short or long here. And this is not a trading recommendation. And I am not responsible for any loss.

Current NF up move can last till 4600-4700. This is not a guess, I am saying as per my analysis.

What I expect once market finish this up move, it will reverse sharply and break 3800 of recent bottom.

The reason behind this, is that there will be good cash market selling as stuck people are getting a good opportunity to sell now and short selling will come at important resistance level.

Also this pull back gives signs of classical 20% kind of rally after touching 200 EMA/DMA on weekly chart. We may see bigger fall than this rally to follow.

I will keep updating my views here.

[venugopal]

swdas

when rbi hikes the rates --your idea will evolve into concrete action.let the market proves you otherwise.

[interactive]

Dear Swdas,

do u have any time period for ur view.

Regards,
Karthickeyan.K.S
Coimbatore

[eagleseyes]

nice opinion..will keep a track of this thread....

[daytrader007]

interactive, very difficult to tell time. i said about nature of correction that we would see. and this is not a view for a day movement.

[daytrader007]

Now NF level is 4530.

There is change in my view on NF. What I feel NF will find support before 4395 NF, and move up to 4720 and 4900 from here in this month.

regards,

[hdobhal]

Dear Swapan,

Who else could agree with you more than I can?

see the market is still tiring, but what I say is if Nifty stays above 4500 for even a week, then forget Bear Market Who knows later there starts a brand new Bear Market, But this one will be over if it does stay up...

But that's remote chance, I don't think Nifty will survive here for long, may be we are going to see a crash this week or next week itself...

Harish

[daytrader007]

hi Harish,

thx for agreeing with me. We will have big up moves next week. First we will touch 4720. Then some retrace back, and then 4900. It will move up smartly. Play long smartly.

Regards,
Swapan

[gl_anu]

Hi,

I am new to Technical Analysis and oberving all your posts since last 2 months. It was very informative and educational.

I like to put my view on Nifty. After today closing, looks to me Bullish week next week. I saw Inverted H&S pattern which can take Nifty to 5200
assuming this Pattern holds and nifty remain above 4500 on closing basis.

Looking for expert comments from Senior Technical Analyst.

[daytrader007]

Hi Anu, Good analysis!


Most likely market will touch 4720 NF today which I told a few days back.

regards

[zzz]

hi swdas.. any updates...

as u told market may go to 4600-4700(tgt almost achieved) & then break 3800, now will it go to 4800 after this profit booking or go down straight to 3800..

[daytrader007]

hi zzz, yesterday i expected market to scale to 4720. It did not happen rather it reversed after break out. This is how it is placed now. 4615 is NF resistance. if we are able to manage to cross this level today or tomorrow, NF will scale to
4720 and even 4795. Other part of the story is, below 4500 NF is weak again for a couple of days. If we sustain below 4500 today, we may have to see 4350 around. All in all if you see NF opens at 4525 and then crosses 4615 today, it will fly. In the other side, if NF breaks 4500 in morning and then pull back and not able to cross above 4560-4580, it would break 4500 again and possibly will fall to 4395.

Please trade at your risk. Real time decision changes as market moves.

[vinst]

HI,

shoulders seem to be too small compared to the head formation. I think this is a forced inv H&S.

regards,
vin

[mgowthamjain]

hahahaaa dada


good joke for 4795 NF


if NF crosses 4750 then tgts are 5000-5050-5100


I have already discussed with RR sir at 4650 mkt toped out as per my view


so forget upside and dont surprise if we see 4165 this month!


any how i am a intraday player and wish u all the best for ur tgts 4795


Bears cheersssssss !

[daytrader007]

cheers mgo sir!!!!, anything is fine. i told as per market made a new high of the pull back and took support earlier at right place.