iCharts Discussions

[shaadoo]

Dear,

m still bearish with a BIGGGGGGG YESSSS. according to my calculation it can move till 3750..........................................

its hard to believe but yes it has to fill the gap created when CONGRESS GOVT. CAME IN MAJORITY. Weekly charts are in bearish mode, RSI is not having strenght.

As globally weakness is held in majority, n Dollar is also making new high , with rise in inflation & continous fall in IIP data shows further weaknesss.

above fundamental reason adds power to my technical view till 3750. but it will come after great ZIG-ZAG SHOW n lastly by a panic selling thn a U-turn.


But try to capture the bounce THAT comes in between..................................

regards

SHAADOO

[anand1234]

hi..........shadoo

thanks for ur observation in this regards....................it will def. help us...........................but one small question..............5200 is giving resistance...............so how much u r expecting in uper side in this zigzag move?..............at last I am with u NF def come below 4000

thanks
anand

[umesh1]

Hi Anand
I am equally bearish with your forsight ,but better move with the trend today i gave buy above 4920 and booked partly at 4960 where others activate their buy calls booked remaining at 4980.just chill morning 9.30 i give benchmark for the day ,i do agree the gap of conress coming back of upper circuit has to be closed,may be it will be formed when congress falls with a huge scam on its head
regards
umesh

[Viktor]

any amount of panic selling has not taken nifty below 4700... just a casual observation..

[shaadoo]

Hi,
i m thr in support with umesh as i alredy written that " TRY TO CAPTURE BOUNCE DAT COMES IN ZIG-ZAG FALL"

ME TOO TAKES MANY TIMES BULL CALL IN NIFTY THOUGH I M SO MUCH BEARISH. RECENT HURDLE IN NIFTY IS SURELY 5200.

SHAADOO

[shaadoo]

Predicted earlier about SBI, and it all came true.

SBI FREEE FALLINGGG LIKE A DROP OF WATER. NEXT SUPPORT IS NEAR 1620, 1405.

AVOID BANKING FOR SHORT TERM INVESTMENT.
RANBAXY IS A GUD SCRIPT TO INVEST FOR SHORT TERM WITH A TRGT OF 585. IN 5-6 MONTHS.


REGARDS

SHAADOO

[anand1234]

hi..........shadoo

NF is working is acording to u...............what u mentioned earliar about zig-zag move............but now 5100..........wt u think now it will fall like drop of water or 5200 will cross.................if sbi will fall then NF surely come dwn................wt is ur views now we can expect 3750??.........pls share ur views.........

thanks
anand

[shaadoo]

yes dear nifty will break down. we r there in fifth wave of ELLIOT WAVES. this was started from 5931 on 21 april 2011 and still not ended.

but i m bullish from 4800 till 5180 coz
1: if u hv seen nifty has made a double bottom on daily chart @ 4720 level & this cant be negated. the upmove thrust has stated working n nifty blasted till 5120 level in short term only.
2: nifty shuld take resitance around 5180-5225 level coz its 50% retrcmnt lvl.
3:@ 5180 huge supply was seen earlier also as it acted as a upper resistnce of a channel 5175-4720
4: @ 5180 is an 20 EMA in weekly charts, it should act as resistance.


if this resistance level is broken with volume then nifty can move till 5450-5500 odd levels which is another resistance formed by a downward sloping line.

Lets see whr the market moves.

regards
shaadoo

[anand1234]

[shaadoo]

Yes we can wait for 1400-1600 odd levels in SBI. as stated in previos report. nifty is having hurdel zone between 5170-5225.
But as market rallied and a bullish engulfing at the top,it seems dat this hurdel is crossed. A gap is thr created on 5 AUGST , it shuld b filled.

thn a down ca re-start.


let c wht happ


shaadoo

[anand1234]

hi........sgadoo

thanks for ur advice.............keep updating.......it will help us

thanks
anand

[shaadoo]

Your welcom Dear,

M trying to give out my best.

Regards
Shaadoo

[shaadoo]

Market is showing much volatility, n not any clear trend is decided by NIFTY.
AN IMMEDIATE RESISTANCE IS 5175 & IMMEDIATE SUPPORT IS CREATED @ 5110 ON CLOSING BASIS.
THIS EXPIRY IS VERY CRUCIAL AS NIFTY IS STUCKED IN A RANGE OF 5175-4720, IT SHOULD BREAK. WHERE NOT CLEARED BUT I M HAVING A BERISH VIEW.BREAKING OF EITHER SIDE WILL TAKE NIFTY TO 5500 OR 4500 ODD LEVELS IN SHORT TERM ONLY.



MY VIEW IS BEARISH WITH EXPIRY NEAR 4900-4950.



REGARDS
SHAADOO

[vinay28]

have you checked bank nifty, shaadoo? In case it is bullish, nifty may not be bearish.

[veerappan]

y not settlement day with 5353?