iCharts Discussions

[sraj]

NIFTY SPOT CURRENT STATUS

AS SHOWN IN THE NIFTY SPOT CHART PICTURE BELOW, NIFTY SPOT HAS THE FOLLOWING THINGS WHICH IS AN IMPORTANT THINGS TO WATCH NOW, THEY ARE

• FROM JUNE 2009 NIFTY SPOT IS MOVING IN THE CHANNEL PATH = GREEN LINE "C" ,
• LAST FEW DAYS BEFORE TRIANGLE FORMATION HAD BROKEN WITH TARGET OF 4650, = RED LINE, "A & A1" ,
• AGAIN A CHANNEL FORMATION HAD BROKEN AROUND 4950 WITH TARGET OF 4450 , = BLUE LINE, "B" ,
• NOW ANOTHER CHANNEL FORMATION'S BOTTOM SUPPORT LINE IS AT 4650 RANGE = RED DOTED LINE "A2" & "A",
• 200 DEMA IS AT 4640 RANGE,
• FIBONACCI SUPPORT IS AT 4660 AND 4610 (FROM 2540 TO 5310, AND 3918 TO 5310)
• AND FINAL PRIMARY CHANNEL BOTTOM SUPPORT LINE IS AT 4550 TO 4540 = GREEN LINE "C" ,

SEE THE CHART PICTURE SLOWLY AND GET CLEAR ABOUT THE ABOVE THINGS

CONCLUSION

FROM THE ABOVE THINGS WHICH IS IN NIFTY SPOT EOD CHART, WE CAN COME TO SOME CONCLUSION REGARDING NEXT MOVE OF NIFTY SPOT

IN THE ABOVE CHART THERE ARE 7 IMPORTANT THINGS, THEY ARE TRIANGLE, 2 CHANNELS, 200 DEMA SUPPORT, AND FIBONACCI RETRACEMENT SUPPORT,

TOTALLY FROM THE LAST JUNE IT SELF NIFTY SPOT IS MOVING IN THE PATH OF CHANNEL (C), THIS IS LIKE LIVING IN THE HOUSE WITH SURROUNDED WALL, THE OWNER OF THE SURROUNDED WALL HOUSE (NIFTY SPOT), CAN DO ANY THING IN TO THE SURROUNDED WALL, BUT WHEN HE TRIES TO DO SOME MISTAKES OUT OF THE SURROUNDED WALL, THEN HE WILL BE PUNISH BY SOMEBODY,

SAME CONDITION IS GOING ON IN NIFTY SPOT, THE EDGE OF SURROUNDED WALL FOR THE NIFTY SPOT IS AROUND 4550 TO 4530, SO ONLY BELOW THIS RANGE ON CLOSING BASIS FOR 2 DAYS IDEALLY! THEN NIFTY SPOT MAY FACE HEAVY CORRECTION WITH TARGET OF 3500 AS PER THIS PRIMARY CHANNEL FORMATION (C),

WILL IT BREACHES 4530:

AS PER TRIANGLE FORMATION (A&A1) WHICH HAD BROKEN DOWN AROUND 5190 FEW DAYS BEFORE HAS THE TARGET LIKE 4650, THIS TRIANGLE TARGET IS IN BETWEEN THE SURROUNDED WALL (4530), BUT AFTER THAT THERE WAS A BROKEN DOWN AROUND 4950 IN CHANNEL FORMATION WITH TARGET OF 4450,

SO HERE IS THE PROBLEM NOW!, IF THIS TARGET WILL BE TAKEN OUT BY NIFTY SPOT THEN THE SURROUNDED WALL (4530) WILL BE TAKEN OFF, IF SO NIFTY SPOT SHOULD MOVE TOWARDS THE TARGET OF 3500 AS PER THE PRIMARY CHANNEL FORMATION (C), THIS IS LIKE THE PERSON WHO IS THE OWNER OF THE SURROUNDED WALL HOUSE HAD THROWN THE BIG STONE TOWARDS THE NEIGHBORHOOD GLASS HOUSE,

IF THE STONE GET DOWN NEAR THE SURROUNDED (4530) WALL, THEN THERE WILL NOT BE ANY PROBLEM, SAME TIME IF IT DAMAGES THE NEIGHBORHOOD GLASS HOUSE (BREACHING 4530 ON CLOSING BASIS) THEN THE PROBLEM STARTS LIKE POLICE, PENALTY AND +++, (DOWN MOVE TOWARDS 3500)

NOW WE HAVE TO WATCH ABOUT SOME IMPORTANT STRONG SUPPORT BEFORE THE SURROUNDED WALL (4530), THEY ARE TRIANGLE (A&A1) TARGET AROUND 4650, FIBONACCI SUPPORT AROUND 4660 AND 4610, ANOTHER CHANNEL (A & A2) SUPPORT AROUND 4660,

SO THERE IS A STRONG SUPPORT AROUND 4650 TO 4600 TO GET RECOVERY, EVEN IF IT BREACHES THE 4600 NEXT STRONG SUPPORT IS AROUND 4530 (SURROUNDED WALL), ASSUME THAT NEAR IN THIS WALL THERE IS A FIELDER LIKE JHON D ROTES (CRICKETER) TO CATCH THE STONE TO AVOID UNNECESSARY PROBLEM ,

SO WE HOPE NIFTY WILL NOT BREACHES THE 4530 ON CLOSING BASIS , BUT IF SO THEN HEAVY CRASH WILL COME TOWARDS 3500 WHICH WAS THE STARTING POINT OF ELECTION RESULT RALLY, SEE THE PICTURE AGAIN AND GIVE YOU COMMEND

AND ONE MORE THING 4780 TO 4770 ALSO THE STRONG FIBONACCI SUPPORT

THANKS
SRAJ