August 21, 2011

NIFTY Weekend Update

  • Trend of nifty is still down.
  • No reversal pattern in sight yet.
  • Daily indicators are still strongly favoring bears.
  • But this is an extended fall so if price reverses we may get a decent bounce.
  • So one shall look for reversal candles in daily time frame next week to go long. 
  • Price should also stay above the channel drawn in daily time frame for a decent bounce to happen.
  • It is difficult to pick a number, But the level one has to watch is between 4750 - 4800.
  • SUZLON ENERGY ANALYSIS
  • S&P 500 WEEKEND UPDATE
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4 comments:

  1. Parminder August 22, 2011 at 8:57 AM

    Hi anoop, great analysis as always, but i suppose there is a typing error on the first chart instead of 4711 and 4757 it is writen as 5711 and .....

    ReplyDelete
  2. chetanAugust 22, 2011 at 9:10 AM

    good morning.

    ReplyDelete
  3. SanAugust 22, 2011 at 9:11 AM

    @parminder

    Thanks,

    I will change the values there

    ReplyDelete
  4. SanAugust 22, 2011 at 9:18 AM

    @parminder

    Changes updated.

    Thanks for pointing it out.

    ReplyDelete

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