NIFTY Spot : 6261.65
Hi,
Readers,
Nifty moved exactly as
was mentioned in my previous blog dated Jan. 12, 2014.
It was clearly mentioned that 6420 will not break.
Nifty took the
resistance mentioned in my blog at 6360.
Mostly all the stocks
are coming down. Many of them are even showing bearish patterns.
Although Nifty is
being held at this level by using very few index stock. Usually this kind of
thing is described as Index Management.
Those readers who followed
the blog would have gained & enjoyed my timely caution.
I am also enclosing
snapshots of charts showing exactly the levels at which Nifty took resistance and
support. On the basis of one of my analysis.
Chart no. 1.
Showing that Nifty is
taking resistance & support on exactly the lines circled by me for readers.
Chart no. 2:-
Showing how Nifty
gives respect to technical levels.
Weekly chart showing
bearish Head & shoulder pattern the breakdown of which is below 6150.
Chart no. 3 :-
Bank Nifty Daily
chart.
Showing Big Bearish
Head & shoulder pattern in the making.
Breakdown is still to
come.
Now What :-
Nifty is still in a
range.
Do not be bullish.
Nifty is facing big
resistance at 6360 as was mentioned by me in my earlier blogs.
Nifty will trade with
bearish bias below 6230.
And below 6150 major
level. Its structure will be further weak. And further lower levels can be
expected on breakdown below 6150.
Trade accordingly
& enjoy the profits.
 |
| NIFTY DAILY CHART SHOWING HOW NIFTY IS TAKING RESISTANCE & SUPPORT AT LINES CIRCLED |
 |
| NIFTY WEEKLY CHART SHOWING HOW NIFTY IS GIVING RESPECT TO 6150 CLOSING WEEKLY BELOW WHICH BREAKDOWN OF BEARISH HEAD & SHOULDER PATTERN |
 |
| BANK NIFTY DAILY CHART WHEREIN BIG BEARISH HEAD & SHOULDER PATTERN IN THE MAKING |
No comments:
Post a Comment