June 25, 2011

Nifty Weekend update

  • All Indications are that this up move may continue. 
  • Next important resistance is at the 20 week moving average and 5604 level. 20 Week moving average is near 5560 level.
  • Look at the last chart the weekly Bollinger band, Price hits and reverses perfectly. 
  • We saw the Bullish Engulfing But to be frank such a big up move was not expected. The bulls were swept away at least for one day. Bears may get their chance between 5560 - 5604 level.
  • Weekly chart is showing a possible false spike out of a consolidation pattern this can be very negative for bears as false moves tend to give vicious moves in the opposite direction.
  • Daily MACD and STOCHASTIC shows chances of this up move continuing for a while.
  • S&P 500 WEEKEND UPDATE
By at

9 comments:

  1. AkhilJune 25, 2011 at 1:20 PM

    Great objective analysis.

    ReplyDelete
  2. AkhilJune 25, 2011 at 1:36 PM

    San, any view on the realty index please?

    ReplyDelete
  3. SanJune 25, 2011 at 11:32 PM

    @Akhil
    Thanks for the comment.

    I will take a look at the realty index and share my views tomorrow.

    ReplyDelete
  4. SanJune 26, 2011 at 7:58 PM

    @Akhil
    CNX Realty Index is looking positive. Might move towards 280 levels in the coming weeks.

    ReplyDelete
  5. AkhilJune 26, 2011 at 10:41 PM

    Thanks San,i anticipate a big upmove as well.

    ReplyDelete
  6. niftyJune 26, 2011 at 10:45 PM

    San,

    I simply adore your "So easy to See" charts. Indeed, you have a wonderful gift with charting. Needless to say, Just Nifty is so very lucky to have you.

    ReplyDelete
  7. niftyJune 26, 2011 at 10:52 PM

    San,

    1. Could you update where the 100/200 day moving
    averages are lurking ?

    2. When you talk about vicious moves, are you
    implying that a break out above 5605/5690-5720/5950 are on the cards ? I am currently holding Long position, therefore I'd like to know whether it is wise to partially book out or hold on for much larger gains.

    ReplyDelete
  8. SanJune 27, 2011 at 1:03 AM

    @nifty
    Thanks for your Comment. Ilango sir and Just Nifty changed my life for the better So I am lucky to be a part of Just Nifty.

    For Moving averages i would suggest you to read AAR VEE's analysis on Nifty. And if the long positions are for this month contract you may also part book on levels he has given in his analysis. I am giving the link here. You can also find his site in my blog roll.

    Nifty analysis by AAR VEE: CLICK HERE

    ReplyDelete
  9. AustinJune 27, 2011 at 9:33 AM

    San
    Great insight as ever. I also put up a recent post highlighting a number of reversal patterns in Asia which echo some of your thoughts on the Nifty: http://swingtradersedge.blogspot.com/2011/06/why-i-still-like-asia.html
    Keep up the great work
    Austin

    ReplyDelete

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