BUZZING NIFTY

BEARISH BAT IN HDIL HOURLY CHART

2013-01-07T11:35:00.000+05:30


BUZZING NIFTY : BEARISH BAT FORMATION IN HDIL

A bearish formation in HDIL stock, a lot of such patterns are developing in INDEX & STOCKS, which would be updated as and when they complete the formation along with the projected targets.
Happy Trading!!!!!

YEAR 2012 FOR BANKNIFTY & WHATS COMING AHEAD!!!

2013-01-02T10:17:00.003+05:30

BUZZING NIFTY: BANK NIFTY 2012 CHART

2012 WAS A FABULOUS YEAR FOR THE BANK-NIFTY. STARTING THE NEW YEAR AT 8000 LEVELS BANK NIFTY NEVER LOOKED BACK
FOR 2013 BE CAUTIOUS AS TWO VERY RELIABLE PATTERNS INDICATE DOWNSIDE FOR THE INDEX. A POSSIBLE BUMP AND RUN REVERSAL PATTERN DEVELOPING WHICH WOULD BE ACTIVATED ON THE BREAK OF THE RED LINE.
ALSO A BEARISH RISING WEDGE FORMATION INDICATE THE TOP IS NEAR IN THE BANK NIFTY
KEEPING AN EYE ON THE BREAK OF RED LINE SHOULD BE REWARDING THE TRADERS AND THE BREAK OF 1 JAN LOW OF 12550 LEVEL TO BE WATCHED AS FIRST SIGN OF WEAKNESS, TILL THEN BE WITH THE TREND AND HOLD LONGS AND FRESH LONGS CAN BE ADDED ON THE BREAK OF THE UPPER TREND LINE.

38DEMA TRADING STRATEGY UPDATED

2012-12-22T13:15:00.002+05:30


BUZZING NIFTY: 38DEMA TRADING STRATEGY

HAPPY DIWALI

2012-11-13T14:10:00.004+05:30

Dhanlaxmi
Dhanyalaxmi
Dhariyalaxmi
Shouryalaxmi
Vidyalaxmi
Karyalaxmi
Vijyalaxmi
Rajlaxmi
may all Laxmi Avtaars shower her Blessings on you
!!!HAPPY DIWALI!!!

NIFTY 38DEMA TRADING STRATEGY

2012-11-07T11:43:00.000+05:30

BUZZING NIFTY : 38DEMA TRADE SETUPS

The 38DEMA, has successfully given good trade setups throughout the year 2012 and every trade has give returns of more then 5% on the index.
Nifty after testing this moving average gave a good re-entry points to the bulls and is poised to give another good rally on the index

NIFTY FAST RISE SETUP

2012-11-06T16:43:00.002+05:30

BUZZING NIFTY: FAST RISE SETUP IN NIFTY

A Fast rise setup has developed in nifty in 5dema and 38dema, also a virtual breakout above the 5630 -5730 range

IMPORTANCE OF JANUARY HIGH IN NIFTY

2012-01-20T12:46:00.000+05:30

Fno game was started in India in full swing after 2003 … after that this strategy appeared in real value and till date working without any single mistake... This strategy works only with index (nifty) not with stocks … but investors can take full advantage of this strategy for building portfolio.

Start from 2003 ……… watch 2003 nifty Jan month high its 1105.60 … now watch data of coming months of 2003 only when nifty closed above Jan month high … if m not wrong then it is june2003 when nifty closing price was 1134 .. Means above Jan 2003 high price.. And pls watch after that nifty never came down below Jan 2003 month high on closing basis till 31st dec 2003. According to strategy it was clear signal for market player to go long after june 2003... For whole 2003 year.

Now just watch 2004 Jan high – it is = 2014.65 never closed above this level in 2004 whole year means clear signal no buy in 2004 .

2005 – Jan month high was 2120.15.. Closed above on monthly basis in June 2005 @ 2220.60...again after that never broke Jan high on monthly closing basis in 2005.. Means go long after June 2005 till dec 2005.

2006 – Jan high 3005.10.. Closed above this level in feb 2006.. After that never broke the same... Clear buy signal.

2007 – Jan high- 4167 … closed above in may month 2007 … never broke after that.. Clear buy.

2008 – Jan high -6357 … never closed above this level in whole 2008... Means no buy... Only sell... Touched 2252 in that year.

2009 – Jan high – 3147.. Closed above in apr 2009.. Never broke after that made high 5221 after that in 2009.. Clear buy.

2010- Jan high – 5310.85 closed above in June 2010.. Hit 6338 after that never broke.. Clear cut buy.
2011- Jan high – 6181.05 never closed above this level in 2011 whole year means clear signal no buy in 2011 .made low of 4531.
2012- will update !!!

NIFTY HOURLY CHANNEL

2011-12-22T10:23:00.001+05:30

Nifty falling in a channel.
Trading near the top of the channel resistance line.
Breakout above the line would give roughly 130 points move.
Fail to cross will see nifty testing the support line of the channel

STOCKS HITTING NEW 52 WEEK LOW as on 19th DEC 2011

2011-12-20T11:32:00.000+05:30

NIFTY WEEKEND ANALYSIS FOR THE WEEK ENDED 16th DEC 2011

2011-12-19T00:44:00.000+05:30

Nifty started the week with a gap up opening ut was unable to sustain the above it for long and the sharp rally on Friday shattered the hopes of the bulls, and nifty closed at its 52week low, the broader market suggest that the bottom is still to be achieved.

Nifty closed the week with 215 points loss over the previous week or 4.4% down

Let us see the alignment of some of the key technical Indicators

Ichimoku Kinko Hyo:
Still in sell mode and the price is below the conversion line , base line and the cloud showing the weakness in the market.

Bollinger Band:Nifty closed at 52weeks low and is currently at the bottom of the band in day/week and monthly chart, but the band has just started to expand in day chart which indicates that more low are possible on the index, the first task for the bulls to achieve is pulling nifty near mid of the band in day chart.

NIFTY support and resistance

Currently there are two channels in Nifty.

The first chart shows the larger channel from the top at 6339 level, through out the year, price action has been within this channel, and currently the index is near the bottom of the channel, and is likely to give another good trade setup as the bulls would like to defend the channel, and the bears would be hoping to break-down from the channel,good positional trades can be taken with small stop-loss in either direction at the bottom of the channel.

38 DAY EMA : This moving average has been successively giving good trades throughout the year 2011, is trading in symmetrical patterns through out the year and this time also the price gets rejected in the first attempt to conquer 38DEMA and has give yet another good short trade.

The second channel is formed within the bigger channel and in line chart it indicates the bottom of the channel, it also give an idea about the EW typical 4th wave false break-out, and the swiftness in the fall suggest that nifty could be in the 5th wave of the fall.

NIFTY HEAD AND SHOULDER FORMATION:

a good head and shoulder is formed in the Nifty, the first chart shows the good formation

the line chart suggest that the neak line is broken, however in recent past the pattern has not achieved the desired results due to high popularity and wide use, keep an eye on the price action as it unfolds as it is likely to trap the weaker bears and also the newer entrants

the second charts shows the possible target of the H&S pattern. the length of the Head was 638 points and thid could be the most obvious target for the pattern, the neck line was broken near 4688 level so the target would be near 4050 level, but it is advisable to use Fibonacci levels to part book shorts and to make reentry at the resistances as they are formed.

NIFTY POSSIBLE ROUNDING TOP FORMATION:

A chart pattern used in technical analysis which is identified by price movements that, when graphed, form the shape of an upside down "U". A rounding top may form at the end of an extended upward trend and indicates a reversal in the long-term price movement. The pattern can develop over several weeks, months or even years, and is considered a rare occurrence by many traders.

The chart below illustrates a rounding top.

NIFTY BROADNING FORMATION
A pattern that occurs during high volatility, when a security shows great movement with little direction. The formation is identified by a series of higher pivot highs and lower pivot lows. A trendline drawn over the pivot highs and under the pivot lows frames out the widening pattern. It looks like a megaphone and, in fact, it is also known by that name.

Broadening Formation
As the two trendlines diverge from the apex, the pattern resembles a reverse version of a symmetrical triangle. This pattern is considered quite rare, but is useful in helping technicians to identify swing trades, rather than a trend trades.

PREVIOUS WEEK:
The trade setup last week enabled us with two shorting opportunities during the week the first on was at the beginning of the week to sell near the pivot at 4932 level( the top made was 4910& the open and high were almost same 4906&4910) the second opportunity was a break below 4724 level , which gave near 100 points returns( the low made was 4628)

THE WEEK AHEAD:

Expected High /Low for the week 4780/4498 with 4710 being the pivot point for the week, positions taken near these levels would give good trades for the week. buying near 4510-25 levels with SAR below 4480 level and taking short positions near 4760-80 with SAR above 4800 level should be the strategy for traders with no position, the SAR traders are short from 4900 level and have part booked should also rebuild positions near the Pivot and the expected top.

NIFTY BULLISH FALLING WEDGE IN HOUR CHART/ POSITIVE DIVERGENCE

2011-12-15T12:45:00.000+05:30

Nifty bullish falling wedge formation in hourly charts, the support comes near 4650 odd levels, a break above 4774 would confirm short term reversal on the index, might target 5090-5100 odd level.

Price behavior in nifty suggest another bullish possibility in the form of positive divergence in both MACD and 9RSI, if nifty manages to hold on to the support line indicated in the above chart, these divergence would ensure a good run for the bulls at-least in short term.

Nifty is holding the current lows also favors the possiblity of Gartley pattern in day chart posted earlier
refer link.
http://buzzingnifty.blogspot.com/2011/12/nifty-trade-setup-for-week-12-17dec.html

NIFTY BEARISH RISING WEDGE IN 15 MINS CHART

2011-12-14T14:04:00.001+05:30

From the lows of 4730, nifty is making a rising wedge pattern which is bearish in nature, a confirmation of the same would be a break below the support line, also it gives good trade opportunity near the top of the wedge.
The target of the wedge would be the low of the formation or 4730on spot nifty.

NIFTY TRADE SETUP FOR THE WEEK 12-17DEC 2011

2011-12-12T12:22:00.000+05:30

Nifty continues to trade in the range, after quick recovery from the low of 4639 the index is slowly moving towards the bottom.
A bearish Gartley is in the making and if nifty finds support between 4680-4720 levels the we would be moving north to complete the pattern.

TRADE SETUP FOR THE WEEK: Expected high /low for the week 4982/4724, with pivot at 4932, positions taken near these levels would yield good returns, SAR traders are short near the pivot since last Friday and already part booked at 50& 100 points respectively

NIFTY- ISLAND REVERSAL AND EVENING STAR FORMATION(BEARISH)

2011-12-09T13:20:00.001+05:30

With today's gapdown opening nifty made a island reversal pattern , in this case this is bearish in nature and stop-loss for shorts taken at this level would be a close above 5036 level.

'Evening Star' Formation in Nifty Day chart

A bearish candlestick pattern consisting of three candles that have demonstrated the following characteristics:

1. The first bar is a large white candlestick located within an uptrend.
2. The middle bar is a small-bodied candle (red or white) that closes above the first white bar.
3. The last bar is a large red candle that opens below the middle candle and closes near the center of the first bar's body.

As shown by the chart above, this pattern is used by traders as an early indication that the uptrend is about to reverse.

Read more: http://www.investopedia.com/terms/e/eveningstar.asp#ixzz1g1OjHtyB

FII DERIVATIVES STATISTICS FOR 07-Dec-2011

2011-12-08T17:19:00.000+05:30

NIFTY WEEKEND ANALYSIS FOR THE WEEK ENDED 3rd DEC 2011

2011-12-05T00:51:00.000+05:30

Nifty started the week with a gap up opening and continued to trade near our level of 4791 for some time before moving up, Thursday and Friday nifty gained momentum and gave good gains .

The index gained good 340 points or 7.2% and settled at 5050 most of the front-line stocks also showed good recovery from the bottom, with major central banks globally uniting to fight the current crises , banking stocks hold promising outlook at-least for the short-mid term.

Let us see the alignment of some of the key technical Indicators

Ichimoku Kinko Hyo:
Still in sell mode but gave positive signals throughout the week, firstly by clearing the base and conversion line and finally conquering the cloud, a buy signal from here would only add more strength to the bulls because this would be above the cloud and would be considered strong in terms of the parameter of the indicator.

Bollinger Band:Friday close ensured that Nifty closed above the mid of the band in both the daily and weekly chart indicating momentum in favor of the bulls.

NIFTY support and resistance

From the up move to the high of 6339 to a low of 4640 nifty is moving in a narrowing formation, the current formations looks like a triangle , nifty is likely to continue withing this formation for some more time, however a breakout/down from the range will decide the further direction on the index.Nifty broke the channel but managed to close the previous week above the trend line and this week saw a good bounce from the lows.

38 DAY EMA : This moving average has been successively giving good trades throughout the year 2011, nifty managed to close the week above this EMA at 4996 level, which should give support to nifty now, else bears would again be in control.

FIBONACCI PROJECTION

Fibonacci projection in nifty shows that nifty has reached the resistance by completing the retracement of the previous move, nifty managed to close above the resistance at 5120 level, how ever a move below this level would open the gates for another down move, aggressive shorts to be taken below this level only.

FIBONACCI CHANNEL:

Nifty Fibo channel from the fall from 6339 to the lows of 4639 shows the price action has been in a channel and this bounce from the lows has been fast and could result in the change of the trend ,it may be early indications but so far there has been no exhaustion sign or development of any divergence to bring about a pause to this up-moveon Friday nifty managed to clear the 61.8% at 5004 level and should now target 78.6%at 5153 and 88.7%at 5239, the support is at 50%at 4900 level and below that 38.2% at 4793 level

NIFTY STOCHASTIC AND MACD:

As indicated last week, MACD has started to show reversal signs indication a short trem bottom is in place at 4640 level, the indicator gave another indication of the upmove to continue and there is no sign of reversal yet.

Stochastic has given good trade setups by giving early indications of overbought and oversold conditions shows that there is steam left for more upside possibility.

As indicated in the previous post the Stochastic has also reached the oversold territory, and a technical bounce either in form of flat correction or until the stochastic reading starts indication of overbought zone.

NIFTY POSSIBLE ROUNDING TOP FORMATION:

Broadening Formation

As the two trendlines diverge from the apex, the pattern resembles a reverse version of a symmetrical triangle. This pattern is considered quite rare, but is useful in helping technicians to identify swing trades, rather than a trend trades.

PREVIOUS WEEK:
The trade setup last week enabled us to short at 4790 level and as we were stopped out early in the week and reversed to long above 4820, gave more then 230 points for the week

THE WEEK AHEAD:

Expected High /Low for the week 5210.25-4902.70with 4955 being the pivot point for the week, positions taken near these levels would give good trades for the week. buying near 4915-25 levels with SAR below 4900 level and taking short positions near 5190-5115 with SAR above 5220 level should be the strategy for traders with no position, those who part booked at 4870& 4920 level should rebuild longs near 4965 and 4910 levels and hedge/part book near 5190 level

HAPPY TRADING!!!!!!!!!

FII DERIVATIVES STATISTICS FOR 01-Dec-2011

2011-12-02T12:22:00.000+05:30

FII DERIVATIVES STATISTICS FOR 30-Nov-2011

2011-12-01T14:16:00.000+05:30

FII Trading Activity - November 2011 (Provisional Figures)

2011-12-01T11:35:00.000+05:30

NIFTY WEEKEND ANALYSIS FOR THE WEEK ENDED 26TH NOV 2011

2011-11-27T23:44:00.000+05:30

Nifty yet again started the week on a negative note and reached the lows of 4640 level, before closing near its 52 weeks low at 4710 ,a 196 points loss over previous week or nearly 4percent cut on the index.

Let us see the alignment of some of the key technical Indicators

Ichimoku Kinko Hyo:
Gave a sell signal last week and the price action was within the cloud and was a moderate signal but bears managed to pull the index to new lows and in the process nifty moved below the cloud making the sell stronger, the early signs of any reversal in the trend would be only on a close above the conversion line which is near 4887 level.

Bollinger Band:this is the third straight time when the prices have been rejected above the mid of the weekly bollinger charts and moved down to test the lower band. which is sub 4600 level for the week

NIFTY support and resistance

From the up move to the high of 6339 to a low of 4640 nifty is moving in a narrowing formation, the current formations looks like a triangle , nifty is likely to continue withing this formatio for some more time, however a breakout/down from the range will decide the further direction on the index.Nifty broke the channel but managed to close the week above the trend line. if the index manages to stay above this trend line then this likely false breakdown will help index breakout from the channel,however if the trend-line is broken then the bear party would continue for long.

38 DAY EMA : This moving average has been successively giving good trades throughout the year 2011,gave yet another 500 points move, the stochastics has been showing oversold condition for some time now and any bounce from here would give another selling opportunity.

FIBONACCI RETRACEMENT LEVELS

Fibonacci retracement levels from a fall from 5400-4640 level, indicated immediate resistance at 23% at 4819 level and 38% at 4930 level l.

FIBONACCI EXTENSION:

Nifty retraced more then 100 of the rise from 4720-5400 level, only a move past 4865 would change the short term trend in favor of the bulls, however fail to stay above 4742 level would see nifty falling to 4560 or 123% followed by 138% at 4460 levels.

NIFTY STOCHASTIC AND MACD:

MACD has started to show reversal signs indication a short trem bottom is in place at 4640 level

The Stochastic has also reached the oversold territory, and a technical bounce either in form of flat correction or until the stochastic reading starts indication of overbought zone this looks like a pause in the down move for the moving averages to catch up the price action.

PREVIOUS WEEK:
The trade setup last week enabled us to book part profits near 4676 levels, and aggressive longs taken around this level should be managed with proper trailing stop-loss.

THE WEEK AHEAD: Holiday season which is set to reduce the volumes in all markets and heavy sell-off by the FII;s in cash and futures are not very encouraging signs for the bulls and any rally from here on would be sold-off.

Expected High /Low for the week 4791.5-4557.5with 4740 being the pivot point for the week, positions taken near these levels would give good trades for the week. buying near 4560-75 levels with SAR below 4545 level and taking short positions near 4780-95 with SAR above 4820 level should be the strategy for traders with no position, those who part booked at 4676 level should reenter shorts around the above levels.

HAPPY TRADING!!!!!!!!!

NIFTY GMMA UPDATE 10%+ returns

2011-11-27T14:12:00.000+05:30

BUZZING NIFTY : GMMA UPDATE

The indicator gave returns of more then 12.5% on the index after we spotted the formation.

pls refer the earlier post where the formation was spotted in the WEEKEND ANALYSIS
http://buzzingnifty.blogspot.com/search/label/GMMA

NIFTY WEEKLY TRADE SETUP

2011-11-21T09:04:00.000+05:30

PREVIOUS WEEK: The week was as per the plan , we got thee trades .First trade sold around 5230 was covered at 5070 giving good 160 points profit, second trade was stopped out at 15 points loss, bought at 5070points and stopped and reversed at 5055 and the third trade gave us another 155 points as nifty after slipping below 4850 level managed to close near 4900 level. This week again we cover the entire move for the week. with 290 points profit ofr the week

THE WEEK AHEAD:With nifty near the bottom of the range of 4720-5160, gave a false break out by moving past 5350 level is now back in the range buying near supports and selling near the resistance has given good profits, only a break of the range would give a larger trade setup.

Expected range for the week 4676 -5068, trades taken near these levels would give good trade setups.

For the conservative traders Buying near 4670-85 with SAR below 4660 and selling near 5060-70 with SAR above 5080 should be the strategy

For aggressive traders Sold below 5040 with SAR above 5130

HAPPY TRADING!!!!!!!!!

NIFTY WEEKEND ANALYSIS for the week ended 11TH NOV 2011

2011-11-13T02:13:00.001+05:30

Uncertainty over European crisis and downgrade of Indian banking industry rating by moody's, saw nifty testing the breakout range, which was achieved after a consolidation of more then 10 weeks. Nifty closed the week at 5168 nearly 114 points, roughly 2% lower then previous week close of 5284

Let us see the alignment of some of the key technical Indicators

Ichimoku Kinko Hyo:

Ichimoku gave a buy signal near 5040 level on 18th oct, during the week nifty after trading above the cloud moved back in the cloud below 5220, still in buy mode but the bulls are fast loosing the strength and a break below the base line at 5064 would favor the bears.

BUZZING NIFTY: ICHIMOKU KINKO HYO

Bollinger Band: Nifty tested the top of the band moved down, on Friday nifty closed below the rising mid of the band around 5180 level.Price behaviour in Nifty during the first week of Nov suggested that the short term top is in place and correction/consolidation is in process.

BUZZING NIFTY: DAY BOLLINGER

WEEKLY BOLLINGER BAND: In the weekly charts Nifty is rising from the bottom of the band, mid of the BB of the week is roughly around 5180 level and previous week close was rejected at the mid of the band, a break below the mid of the band on closing basis has turned the tide in favor of the bears.

BUZZING NIFTY: WEEKLY BOLLINGER BAND

NIFTY MOVING IN A CHANNEL

From the up move to the high of 6339 to a low of 4720 nifty is moving in a channel, giving good trades, nifty after touching the lower end of the channel at 4720 level rose sharply but failed to test the upper resistance line near 5470 level and started moving down after a big gap up opening near 5400 level, if fail to cross the resistance it would be heading toward making a newer low on the Index.

BUZZING NIFTY: NIFTY CHANNEL

38 DAY EMA : This moving average has been successively giving good trades throughout the year 2011,(chart1)

BUZZING NIFTY: PRICES ABOVE 38DEMA

BUZZING NIFTY: PRICE NEAR 38DEMA

the 2nd chart shows when ever the price have moved below the moving average good shorting opportunity is presented in Nfity giving fabulous returns.

NIFTY SHORT TERM CHANNEL

The last up-move of nifty is in a channel and a break of the channel indicated early signs of change in the trend.(chart 1)

BUZZING NIFTY:NIFTY CHANNEL SHORT TERM

in the 2nd chart as can be seen looks like another channel is forming and can be termed as consolidation/correction of the up-move from 4720-5400 level

BUZZING NIFTY:NIFTY CHANNEL SHORT TERM

NIFTY FIBONACCI RETRACEMENT:

BUZZING NIFTY: FIBONACCI RETRACEMANT

Nifty retraced 38.2% of the up-move from 4720-5400 @5143 level if able to sustain above this the next leg up might unfold in coming weeks. however if nifty slips below this level it might target 50% at 5064 and 61.2% at 4985, below this nifty would be in total control of the bears.

NIFTY RE TEST OF THE BREAKOUT LEVEL/POSSIBLE FALSE BREAKOUT:

Nifty is back at the previous resistance level of 5130-65 which was also the top of the range which was broken after 10 weeks.

BUZZING NIFTY:RE-TEST OF CHANNEL

5168 which is also the pivot for Monday holds the key for the next week, if manage to stay above the trend line may continue the journey north , but the break of this level will put the bal again in the bears camp who wont miss any trick to break the previous lows of 4720 level.

NIFTY - GMMA

THE MULTIPLE MOVING AVERAGE :

the price behavior suggest that when ever the smaller moving averages have crossed the larger once after contracting the index has fallen more then 10%, will this happen this time around as well???

BUZZING NIFTY: GMMA

PREVIOUS WEEK: The week was as per the plan as suggested to sell near 5310-15 level, the high made during the week was 5317, those who traded as per the plan earned good 140 points and could cover the entire move for the week

THE WEEK AHEAD:With nifty back in the range buying near supports and selling near the resistance has given good profits, only a break of the range would give a larger trade setup, until the range is resolved trade light and book smaller profits.

Expected range for the week 5068-5243, trades taken near these levels would give good trade setups.

For the conservative traders Buying near 5070-80 with SAR below 5055 and selling near 5235-40 with SAR near 5250 should be the strategy

For aggressive traders Buying above 5070 with SAR below 5040 would yield good returns

Levels to watch till the range is resolved and a clear trend emerges 5068-5099-5105-5143-5168-5220- 5242

HAPPY TRADING!!!!!!!!!

NIFTY WEEKEND ANALYSIS for the week ended 05TH NOV 2011

2011-11-08T12:34:00.000+05:30

Nifty broke the range of 5040-5160 and moved up-to 5400 and developed a new range in earlier support zone of 5370-5220 a decisive break of this range is likely to give good direction to Nifty.

Let us see the alignment of some of the key technical Indicators

Ichimoku Kinko Hyo:

Ichimoku gave a buy signal near 5040 level, during the previous week nifty traded above the cloud making the buy signal stronger, the first sign of weakness would be only on price entering the cloud near 5220 level for the week.

The circles marked dark blue show that nifty is currently getting support at the conversion line nearly 5240 level.

Bollinger Band: Nifty tested the top of the band and has started to move down again, strength remains as long as nifty trades above the rising mid of the band around 5150 level.

Price behaviour in Nifty suggest that the short term top is in place and correction/consolidation is in process.

WEEKLY BOLLINGER BAND: In the weekly charts Nifty is rising from the bottom of the band, mid of the BB of the week is roughly around 5200 level and previous week close was supported at the mid of the band, a break below the mid of the band on closing basis would turn the tide in favor of the bears.

NIFTY MOVING IN A CHANNEL

BUZZING NIFTY: NIFTY CHANNEL

38 DAY EMA : This moving average has been successively giving good trades throughout the year 2011,only a comfortable move past 5020 level has add strength to the BULLS

BUZZING NIFTY: PRICES ABOVE 38DEMA

NIFTY SHORT TERM CHANNEL

The current up-move of nifty is in a channel and a break of the channel would show early signs of change in the trend the support of nifty is near 5260 level and resistance is near 5493 levels.

NIFTY 50,100&200 SMA:
Nifty staying above 50and 100 DMA and almost tested its 200 DMA at 5416 odd levels, the chart suggest that the price action in previous occasions have failed to move above 200DMA and is likely to act as a resistance this time around as well. the support of 100 DMA comes around 5240 level.

NIFTY BUMP AND RUN REVERSAL:

Nifty broke the down trend and the chart pattern suggest a reversal in Nifty, price staying above the trend line favors bulls

BUZZING NIFTY:BUMP AND RUN REVERSAL

THE WEEK AHEAD:With nifty trading in a narrow range buying near supports and selling near the resistance has given good profits, only a break of the range would give a larger trade setup, until the range is resolved trade light and book smaller profits.

Expected range for the week 5163-5322, trades taken near these levels would give good trade setups.

Buying near 5170-75 with SAR at 5160 and selling near 5310-15 with SAR near 5330 should be the strategy for the conservative traders

Levels to watch till the range is resolved and a clear trend emerges 5260-5299-5330

HAPPY TRADING!!!!!!!!!

NIFTY WEEKEND ANALYSIS for the week ended 21ST OCT 2011

2011-10-22T13:12:00.001+05:30

The range in Nifty has narrowed to 5160-5040, and throughout the week nifty traded in this range. Any move beyond this range should give good short term direction to Nifty. Last week nifty closed at 5132 near the top of the range and got resisted at 5160 and moved down to 5010 on Tuesday but managed to close above 38DEMA, nifty ended the week at 5049 with a loss of nearly 83 points.

Let us see the alignment of some of the key technical Indicators

Ichimoku Kinko Hyo:

Ichimoku gave a buy signal on Tuesday near 5040 level and most of the action during the week was well within the cloud Komu, Since the price action is within the cloud this is termed as buy with medium strength, however the close on Friday was below the conversion line keeping hope for the bears to drag nifty below the cloud which is roughly at 5000 odd level for the week

Bollinger Band: Nifty failed to test the top of the band for the 3rd time, and has started to move down again, shows continued weakness in the index , strength remains as long as nifty trades above the mid of the band around 4977 level.

9RSI has turned down after showing signs of Reversal in the trend.

WEEKLY BOLLINGER BAND: In the weekly charts Nifty is rising from the bottom of the band, mid of the BB of the week is roughly around 5216 level and only a weekly close above this level would be the first indication of reversal in the trend in favor of the Bulls.

NIFTY MOVING IN A CHANNEL

From the up move to the high of 6339 to a low of 4720 nifty is moving in a channel, giving good trades, nifty after touching the lower end of the channel at 4720 level is now moving north and would be targeting 5470 odd levels.

BUZZING NIFTY: NIFTY CHANNEL

NIFTY SUPPORT/RESISTANCE:

Nifty is trading near the top of the range(4720-5170), and a move past 5170, would target the Unfilled Gap area of 5325 level, however fail to clear the resistance would find Nifty slipping to the Support Zone of 4720-45 levels

38 DAY EMA : This moving average has been successively giving good trades throughout the year 2011,only a comfortable move past 5020 level has add strength to the BULLS

BUZZING NIFTY: PRICES ABOVE 38DEMA

The 1st Chart is marked with the levels and price behavior throughout 2011.

The 2nd chart shows that nifty has managed to close above the all important moving average.

FIBONACCI RETRACEMENT LEVELS

Fibonacci retracement levels from a fall from 5740-4720 level, price moved above 38% retracement the next hurdle would be to cross the 50% level at 5213 and above that is the unfilled gap Zone.

BUZZING NIFTY: FIBONACCI RETRACEMENT PRICE ABOVE 38.2%

SHORT TERM FIBO extension:( old chart still valid)

Nifty got resisted at 138% of the fall from 5035-4727 level at 5152, but managed to close above the 100% mark staying above this may target,5188 and 5224 levels below 5035 may favor the bears.

BUZZING NIFTY: FIBONACCI EXTENSION OF NIFTY

NIFTY BULLISH FALLING WEDGE:chart updated till previous week nifty already made good move past the wedge resistance line

Nifty is moving in a falling wedge pattern which is a bullish reversal pattern if formed at the bottom of the price action, the breakout above 4917 are early indications of the change in trend in favor of the bulls,

BUZZING NIFTY: NIFTY BULLISH FALLING WEDGE

NIFTY 20,50 100 SMA:
Nifty staying above 20and 50 DMA will target 100 dma @ 5255 level, however a close below 4998and 4977 would again turn in favor of the Bears.

NIFTY BUMP AND RUN REVERSAL:

Nifty broke the down trend and the chart pattern suggest a reversal in Nifty, price staying above the trend line favors bulls

BUZZING NIFTY:BUMP AND RUN REVERSAL

Nifty closed near the support (5030-40)and if manage to hold-on to 4977 odd levels would again target the top of the range.

Expected range for the week 4956-5105, trades taken near these levels would give good trade setups.

Buying near 4965-76 with SAR at 4940 and selling near 5105-5115 with SAR near 5130 should be the strategy for the conservative traders

Levels to watch till the range is resolved and a clear trend emerges 4977-4998-5035-5065-5080-5105-5130-5160

HAPPY TRADING!!!!!!!!!