NIFTY trend up with swing reversal level at 6080. Substantial put writing support exists at 6000.
As of now, market is still a buy in dips market. Breakouts will persist in stocks by rotation.. maybe difficult to play nifty.
On weekly charts, trendline resistance is visible in the region of 6400-6500.
As of now, market is still a buy in dips market. Breakouts will persist in stocks by rotation.. maybe difficult to play nifty.
On weekly charts, trendline resistance is visible in the region of 6400-6500.
DEAR SIR IT IS BULL MARKET .. EVERY .781 RETRACEMENT LEVEL BECAME BUYING LEVEL.
ReplyDeleteNEXT LEVEL IS 6160.
yes its bull market.
ReplyDeleteSir
ReplyDeleteThere is 2 big green candles that formed on daily chart sandwiching 6 small candles with successive low closing.
Pattern consilidation shows it forms a perfect
Rising 3 methods formation
A strong bullish continuation pattern with no confirmation required ÷ Gregory Morris
This pattern is valid till the top of the 2nd white candle around 6200
Since the exit is clear can we buy close to that level.
Ur comments please
You are right - this is a bullish continuation pattern.
DeleteI will look at SL as the low of the recent/ significant bull candle.
http://www.investopedia.com/terms/r/rising-three-methods.asp
KPL JI VERY SPECIAL DIWALI GREETINGS TO YOU AND ALL VFM MEMBERS
ReplyDeleteSPOT NIFTY 6500 LEVELS IS POSSIBLE SL AT 6180 AND FINAL AT 6040 AS PER THE POSITION.
STILL LONG WAY TO GO HAVE TO LOOK FOR ALL BEATEN DOWN STOCKS FLY HIGH
BULL MARKET ..
1. INDEX STOCKS TO HIT HIGHS AND INDEX MAY NOT MOVE BUT ...
2.MEDIUM CAP STOCKS TO PULL HUGE HIGHS ..FINALY
3.SMALL AND PENNY STOCKS TO FLARE UP
THAT WOULD MAKE ALL BULL RALLIES TO COME TO AN END
I GUESS WE AT VERY MUCH STARTING POINT.
Sir
ReplyDeleteThank u sir
Did u mean sl at 6080
Yes
DeleteThis comment has been removed by the author.
DeleteSir
DeleteThru ur eod posts i learnt to see rising 3 and falling 3
Since then in the nifty it has never failed
However it has been in lower tf
This time it is in daily
It must be big
Let us see
ReEntry close to 6250 looks great
SIR ,DAILY CHART IS NOT RELEVANT .NIFTY STARTED A LONG TERM BULLISH TEND . 50 DMA CROSSED 200DMA . THAT IS A GREAT THING .SO AFTER A TECHNICAL 0.381% CORRECTION TO 6180 ,THIS WEEK ITSELF NIFTY WILL CLOSE ABOVE 6335
DeleteIgnore crossover of 50 and 200 dma... it has no relevance.
DeleteVisit http://www.vfmdirect.in/2013/08/significance-of-death-cross-and-golden.html