August 28, 2011

  • Numbers to lookout for next week are 1121 and 1208
  • An early clue may be given by the triangle pattern. Being a triangle one may see whipsaw before the big move happens.
  • Once price crosses 1208 It may target 1250 - 1258 level.
  • If it is below it 1121 then we will see 1101 and if it sustains below 1101 another big move in favor of bears can be seen.
  • GOLD MOVING UP AGAIN
  • MSFT BUY SIGNAL

 
  • Bank Nifty Weekly stochastic shows that the selling may finish by next week.
  • We have a support zone around 8806 level. But after that the Fib level and the next supports are way below near 8300 and 8150 levels.
  • So price should stop falling near 8800 levels. If it goes below this level then the pain for bulls might continue.
  • Look for daily reversal candles. We shall see some strength only above 9200.
  • NIFTY WEEKEND UPDATE

Disclaimer

All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.

Followers

Blog Archive

Powered by Blogger.

My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore