Nifty 7700/- As per the chart nifty is showing both bullish and bearish pattern. Nifty has taken support around 7500-550 levels two time over a period of three months which indicating some bullishness. So till 7500 is taken out decisively bears cannot be dominate. Another thing to be noted is that nifty has also formed H&S pattern and has broken the neck line taken support and approaching the neck line. will it be a H&S failure or not or will move further downward.IF H&S is confirmed that we can expect 600 points from 7700 a target of 7100 so wait and watch.

Mahiidar M

Enjoying Life

Trend is Friend.

Nifty -7849/- whether nifty is poised to move substantially from current levels? it does not appear to be so technically. There are so many negative things in nifty first its below 200 day EMA which itself is a bearish signal and there is also golden cross, 50 day and 100 day EMA have moved below 200 day EMA which is regarded a very bearish signal. Also the distance between them is increasing which is an indication that we might move down wards, there might be slight up moves but ultimately move down. So as far as technicals are considered its pointing downward movement and it appears it might accelerate in coming week/s.

Mahiidar M

Enjoying Life

Trend is Friend.

Nifty is forming a very bearish pattern and it is clearly indicating that in coming weeks we might be in for a very bearish move. Nifty seems to be forming an expanding triangle and we seems to have completed the wave-4 and we have just started the wave-5, and generally it is the one which is most violent and also most destructive. Now we have to see the volumes and the volumes would be very high during the formation of the move and it would be most destructive of all the waves both time wise and also price wise. if the formation is correct then the fifth wave would all the way go and move beyond the 1-3 trend line i a big way so we can easily see it below 7000 levels and towards the 200 week EMA which happens to be at 6700 levels. Will it go there the pattern implication are pointing towards that. This pattern nearly similar to the pattern formed in Jan to Sep 2008, and we know the effect of the same. This would i would try to explain in the coming week. So the pattern is indicating that the bears are going to rule the market in coming weeks or months.

Mahiidar M

Enjoying Life

Trend is Friend.

Nifty seems to be heading lower considering the technicals.Nifty is below 200 day EMA and also SMA which is a bearish indication. This is the longest time after 2011 where nifty is below 200 EMA/SMA. It may also be seen that 200 EMA(black MA) is below 200 SMA(red MA) which is also a barish signal. nifty moved below 200 EMA by gap down in august and then made a low of 7550 and then reversed again to move above 200 EMA and found resistance at SMA and then moved down wards and that too today with gap down below 200 EMA which is also a bearish signal. All these are pointing technically that bulls are not going to have a good days in comming weeks or months. So till 200 day EMA/SMA are not taken out we can easily see nifty making new low.
Mahiidar M
Enjoying Life
Trend is Friend.

Elliott wave update

Nifty has moved below 20 day EMA after nearly one and half months which is a bearish signal. So now the 20 day EMA becomes resistance and now nifty would try to move towards the 50 day EMA which happens to be around 8226 will it move there it appears to be so. Even we have a trend line there drawn from the low of the start of the current trend so it appears that this level i.e 50 day EMA to be crucial level for nifty as any break of this line is not good for bulls are in last nine months this line has offered support for any falls so watch out for this level.

As far as Elliott wave is concerned it seems that the third wave seems to be complete ( as of now might change as how the market moves) and we are in the fourth wave, the fourth wave would not in any case go into the area of the first wave so first wave top appears to be at 8226 which again is the 50 day EMA. So 8226 is the crucial level for the market to watch for. 

May all be Peaceful and Happy

M.Mahiidar

Enjoying Life

Trend is Friend.

Nifty Update

nifty for the first time in the current rise from the 5950 the retracement of the last was done in a shorter time than the rise which is indicating that trend is turning weak. if the wave structure is complete the we can see the retracement to the low of the 4th wave low where in give a target around 6450 levels. If we apply fibonacci retracements then we have achieved the minimum retracement of 23.60%, if its taken out then we have chances of moving towards 38.20% and 50% retracement. which give a targets of 6512 and 6401, will it go to these levels it appears to be so. we have to wait till it is acheived or negated. on of the things to be noted is that nifty has also gone below 20 day EMA for the first time after nearly one and half month which indicates the the market has become weak, it has to move above it to confirm some strength so wait and watch for the same.

M.Sri Mahidar

Trend is Friend

Enjoying Life

 

What is nifty pointing in this, it pointing towards the probable extension of the fall. till now what we have seen seems to be just beginning of the trend. As can be seen from the chart nifty has just taken bounce from the 200 day EMA which happens to 5975 and we should respect the same, but it appears that the bounce might not sustain as the broader market is not supporting the same especially banking stocks and now IT stocks are also slowely moving down. As can be seen from the above chart the Directional Momentum Index(DMI) has started to move up and has moved above 20 after nearly one year now its at 25 levels and moving up. the move above 20 indicates that the market has started to trend and we can expect the trend to strengthen in coming days or weeks. so prepare for the worst. in the chart the red line at the bottom is the trend line from the lows of 2003 is at around 5400 which has been offering support for the last one decade including 2008 so in the current fall 5400 is going to offer a formidable support any breach of the same is going to result in a catastrophy in the make. So currently the 200 day EMA is going to be the thing which to be closely watched. Any breach of the same would provide an opportunity to short with stop loss just above the 200 day EMA. So in the coming week the 5975 should be closely watched.

 

M.Sri Mahidar

Trend is Friend.

nifty update

Nifty Update

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nifty update

Nifty update

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NIFTY

Nifty