Nifty forming Flat 3-3-3-3 on intra charts

As we see above Nifty forming flat ....watch out for the breakout ....will post details later [:)]

Is It a Fresh Start???

Nifty closed near 4444 on the last day of May trading session , The level which has been so crucial from last 2 years ........As we see from the above chart Nifty has rallied with great force whenever it has managed to sustain above 4444 for atleast a week or two n fallen otherwise.......So watch out for this level closely for next 1-2 weeks


About Cup with handle - Nifty retraced from the euphoric high of 4509 to 4092 and managed to pullback again to 4488 , Here a very important point to consider is low volumes in the upmove . Nifty is forming the Handle part now surely , but the Flag -Penant pattern is not confirmed yet . As I have mentioned in My last post when I revealed this interesting Cup with Handle pattern , that Nifty should retrace upto 1/3 of the cup during the handle formation ..... Nifty surely did reached 4090 which can be said enough but some criteria are yet to be fulfilled such as volumes n time range for the formation .......

I dont want this pattern to be failed as it is a very strong bullish pattern which will give us a chance enter for 2000 huge points in very fast n furious way

.......So have patience for some time ........Adios

Positional Call


Short Nifty Spot at every 50 points cmp 4480 ........Stop Loss above 4650


Trgt 4350 -4200-4050

Reverse Hns on 5 min chart

Reverse head n shoulders .......go long above 4265 sl 4245 trgt 4320 .......

Cup with Handle in making ???

Cup with Handle in making ???

........As per above chart Nifty has formed Cup formation ......Now if this pattern is really in making then Nifty may retrace upto 3850 ie 650 points without breaching the high at 4650 in 1-4 weeks .....

....This is a highly bullish pattern which will ensure a major breakout of same length ie 2000 points after the pattern gets complete .......Here Nifty may try to form a Flag , Pennant (Continuation) pattern in handle formation process which will not give easy trades for either longers or shorters

.........This is just an assumption yet .....so bulls pray for this formation to complete so that bull run resumes n we can rally 2000 points again in next few months [:)]


Happy Trading [:)]

Nifty for 08 Oct 2008

Nifty going for big one ?? Just waiting for a technical bounce to fall more n more .......No bottom visible yet ...lets wait n watch ...... a Doji is formed on candlestick pattern for sure but it needs a consecutive white candle to confirm the Morning Star .......Even 16 th sep a Doji was formed .......but didnt gave its effect , Nifty gave upward rally only after hammer was created on 18 th sept ..........So nothing confirmed yet , But I am also expecting a bounce at this stage....Better to wait n watch for time being

Nifty Analysis For 06-10-2008

For Intraday trading on 6 th Oct , Nifty may find support around 3805 - 3770 level , breaching of this level may take Nifty to 3750 n then to test previous low of 3715 . The major support comes at 3666 and 3636 which is 200 week EMA .Where a dead cat bounce is expected . On the higher side 3850 then 3880 , breaching of both may take Nifty to 3920 from where fresh shorting can be again seen