Nifty with Ghosh: 2009-10-04

Saturday, October 10, 2009

Nifty Gann Fan chart..... WHAT NEXT???

Friday, October 9, 2009

Nifty Technical View

As my earlier post, NF is in Negative Divergence. Based on above EOD chart, trendline support is at 4920 and NF close just above that level. For last 15 days, NF in 4900 to 5100 range and it close below 20 Moving Average today and day before today.

From here, NF may go upto 5025 level or break 4900 level for deeper correction in next week. Daily basis, all indications are in negative but in weekly basis NF is in positive zone.

5 Nos. of tgt achieved within this time (10.50 am)... Profit +58 Points

Based on premarket call, NF Fu Sell at 5024.. 3rd tgt was 5080.
Buy from 5080 and 1st tgt... 5094 also achieved.

Thursday, October 8, 2009

Nifty Premarket call for 9th October'09

Few Technical analysis

Here is some observation as per my view. In this picture, there is 1,2 & 3 points are marked. Please find below technical view based on Candlestick analysis.

(1) Hanging Man: These lines are bearish if they occur after a significant uptrend. If this pattern occurs after a significant downtrend, it is called a Hammer. They are identified by small real bodies (i.e., a small range between the open and closing prices) and a long lower shadow (i.e., the low was significantly lower than the open, high, and close). The bodies can be empty or filled-in.
(2) Long black (filled-in) line: This is a bearish line. It occurs when prices open near the high and close significantly lower near the period's low.
(3) Long-legged doji: This line often signifies a turning point. It occurs when the open and close are the same, and the range between the high and low is relatively large.

Also, I observed that Nifty is trading within 4900 to 5100 range for last 14 days. Expect, Nifty will move on for next target (UP/DOWN) within very short period.