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where nifty heading next week??????? |
HARSHAD
White Belt
Joined: 06 Aug 2008
Posts: 4
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Post: #1  Posted: Sat May 30, 2009 11:24 am Post subject: where nifty heading next week??????? |
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Nifty in Daily TF's ADX reached 46 which is profit booking level.
so see drag down of almost 400 to 500 nifty points in coming week.
thank you |
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RKM
White Belt
Joined: 06 Apr 2009
Posts: 137
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| Post: #2 Posted: Sat May 30, 2009 2:06 pm Post subject: |
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Hi Harshad,
How did you get that ADX level? The 14 day ADX on Chart (Premium) shows an ADX value of 25.13 (24.86 for NF-1M).
The silver lining in case Nifty does go down, which should logically have happened long ago, is that it gives you a chance to buy stocks you may have missed so far.
Another thread in this forum is predicting a move upto 5200 levels if Nifty breaks out above resistance at 4480-4500 levels. Who knows, they may be right, their observation is as logical as yours. Thing is, one has to realise which way it is going (easier said than done) and position oneself accordingly.
But I would still like to know whether you have used some other setting for the ADX.
Best wishes,
Makhijani |
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