Incisive Nifty Trend Analysis

[jamit_05]

Nifty update: Nifty rally has failed at the upper end of the falling trendline although it overshot it on a closing basis. As per my earlier nifty update, gear up for turbulence. Nifty should now target the lower end of the trendline. Since I will be travelling extensively for a month, I will not be able to post updates frequently. Have an action packed September and October series. Volatility will increase moving into second/third week of September.

Happy trading month ahead...

It is showing all the right signs of a failed rally. I too have shorted in the first session today.

Thanks for the update Prada.

 

[Rish]

In monthly chart, nifty downside trend is intact, minimum 4900 level.

In Daily chart 5503 taken out, then may be small rally upto 5589 level.

But, overall trend is negative. Sell on rise may be good idea, using hourly chart on reversal.

Just Follow-up

Any rise and reversal sell sell sell

 

[Rish]

Though main trend is in sell mode, tomorrow if hourly Nifty initiates buy, verify USDINR houlry chart (if initiates sell) to confirm the nifty trend is up ! ! ! !.

Always going against main trend, keep tight s/l for nifty buy.

 

[poortrader]

screengrab

On Daily chart the intermiadiate top of 5755 is also an important level to watch out for in case the 5650-60 level is broken on closing basis

Nifty is approaching the neckline levels now. Will need a good reversal sign to change the trend. Interesting times ahead

 

[poortrader]

Nifty is approaching the neckline levels now. Will need a good reversal sign to change the trend. Interesting times ahead

Nifty reached the neckline levels now. Lets see how the closing goes.

 

[Rish]

Now nifty up trend may test 5719. If 5719 taken out 5801 will be ultimate again downtrend resume.

 

[sridhar]

The move upto 5850 Is it still to be considered as correction in a bear market or is this a new trend? I think we have surpassed most retracement levels in this upmove i.e 50%, 61.8% etc.

Was on holiday last week. So could not follow the up move. I am also puzzled by this move as it is not supported by any fundamentals. We had looked at 5550 as possible top for the relief rally. Now the only explanation can be that people are relieved that the Syria attack is not taking place immediately.

Also I suspect both Govt. DIs & FIIs are conniving to artificially boost market up. At what point will the FIIs start bailing out is now important. Can't get enough data to make sense of this all.

 

[sridhar]

Got the following 2 sites for some data on trade statistics:

http://www.sebi.gov.in/sebiweb/investment/statistics.jsp?s=fii

http://www.nseindia.com/products/content/equities/equities/fii_dii_market_today.htm

Now to start making sense of all this!!

 

[Rish]

Now nifty up trend may test 5719. If 5719 taken out 5801 will be ultimate again downtrend resume.

Now Hourly Chart selling point (mid band) and trading levels distance is wide, so, my view nifty sharp fall may not happen, till the distance get exhausted. As nifty is not in sell mode.

 

[Rish]

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