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Thursday, October 11, 2012

Nifty : Back to 5800+

Since all the major money flow is from the US FED, the US Presidential cycle has been giving good bottoms till now . Here are two charts:



And here is  one for October Month :

 These charts show a bottom around 10th October from where we see a good up move. These Presidential cycle charts have been able to indicate major bottoms this year for Nifty too.

Now I had been keenly watching a 1 minute chart of Nifty when we saw that big 170+ points up-move in Nifty . I am presenting to you once again ere below .



At 5630 I believe Nifty is at good Support , and at the point shown by the Green triangle pointer. Once again just as a reminder i bring forward to you the 2004 chart . Which has also been replicated till now .Here we see it below . Now compare the area above the RED horizontal line to the area between the red horizontal lines in the above chart.



Now we see our present Nifty chart . We definitely see that Nifty is landing on good support. One indicator I used here below is the 13 Period Bollinger bands. With today's levels the bollinger band lower level has been touched . These bands give good bottom indicators in corrective period.


So looking at all those charts , I have drawn a blue arrow as the next Nifty path . Going long today . 

15 comments:

  1. Sir for bollinger bands which one you use 13,2 0r 13,1.5.

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  2. sir can you give more detailed analysis of the nifty, as you are long but nifty came are you still holding nifty longs?

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  3. I m holding longs....during an upmove..i try to square off at particular levels...and then enter again at lower levels.......i use Nifty basic Support and resistance levels and also Bollinger bands....today i bought again at 5710 area...though it came came below that.....I am holding long...and next week we should be gong higher.....I dont update all intraday moves...

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  4. sir asked for your view because when you said short term top it nifty came down sliding from there,wht i mean was for weekend update not based on today's movement, can you mention where nifty may find resis or support in your views so that followers can find a point to exit

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  5. http://www.niftybear.com/2012/10/us-consumer-sentiment-index-shining.html

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  6. good one jonak. I see two possibilites and they should occur this week itself e.g. up till 16th oct, then down till 8th nov and then up all the way or the opposite. I personally feel that former will come true. I am hedged as of now.

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  7. yes Vinay.....We should be near 6000 in November.....as for Supports and resistances.......major resistance at 5740--5755 in NF....When NF crosses that,it becomes support...I will take off longs when Nifty crosses 5800:)

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  8. the supports at 5630 have held.....I think we are going to break it.....I missed one 11-13 day down trend cycle......i think we should break up soon.....I know plenty of people are talking about 5500....more sosince DOW fell a lot last Friday ....But I dont think thats gonna happen....we also have a possible inverse HnS in the 5 hour chart with neckline at 5740 NF ...and target 5840 NF.......I m holding LONGS

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  9. Correction-----"I tink we are NOT going to break it"

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  10. Sir can you upload the 5 hour chart of nifty and defty.

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  11. no..having problems......with copying from forexpros...

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