26 June 2013

NIFTY SHORT TERM UPDATE

Hi Friends,

In my last post I mentioned that Nifty needs to cross 5869 to confirm Trend Reversal and Failure to hold 5730 will add more pressure on Nifty & it may Slide to 5630.. Nifty tested 5864 & broke below 5730 Leading to Panic Sell Off to 5567..

NIFTY - Daily

Structurally current Fall from 6229 looks to be developing as a Triple Zigzag. Where Z achieved price equality with W & might have been complete at 5567. A Faster Retracement above 5755-70 would be indication of Trend Reversal. However, Failure to hold 5567 will open up more Downside to 5525-5480..

Currently Market  is Oversold & there is +ve Divergence on RSI. So there is higher probability of likely Trend Reversal.. Once Nifty starts trading above 5755-70 we may expect move up to 5970-6045-6090.


Thanks & Regards,

Harsh Dixit.
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5 comments:

  1. msingh26 June 2013 at 08:05

    thanx harshji for ur analysis

    ReplyDelete
  2. Unknown27 June 2013 at 19:10

    thanks harsh for ur analysis now what ?

    ReplyDelete
  3. Unknown4 July 2013 at 16:27

    hi harsh what ur studies say now on nifty and bank nifty ,astrologicaly i am expecting a deep correction from 8 to 24 july .do share ur analysis

    ReplyDelete
  4. TRENDONOMICS BY HARSH DIIXIT9 July 2013 at 17:23

    Hi Atul,

    I'm Expecting sideways correction till 5730 till July 10.

    Thae Nifty Likely to Resume Short Term Up-trend and reach 6090 till July 22.. I would be Bearish post July 22 on almost All Global Markets..

    ReplyDelete
  5. Aish Joshi24 July 2013 at 13:11

    Trend is declining, and remains volatile due to expiry of July future contract tomorrow. Intraday resistance today at 6034-6120 and support near 5948-5862. Nifty trading tips

    ReplyDelete

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