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Nifty Future
(Updated on 06-02-2013 at 07.40 AM)
Yesterday written break below 5978 Nifty fut
would deep up to 5959.
Nifty fut made low at 5964 and closed at 5974.45.
Now for today…
Support @ 5967-5963 for intraday.
If trades above 5977-5981 NF
may rally up to 6000-60015.
Hurdle at 6011-6020.
Crucial support at 5940.
Break down below may take up to 5915.
Likely to consolidate between 6000-5960 and
will not break below 5960.
Closing above 6040 may revive uptrend.
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Banknifty spot
Bears will be strong below 12660.
Break below 12523 Expect nonstop
panic up to 12419-12331-12226.
ONGC
Below 330 Bears will dominate the short term trend.
Break below 324 except slide up to 320-318.
Shri Ram Transport fin.
Buyers zone at 768-764
Expect Bounce up to 780
Support at 767-763.
Break below may take 754-744.
Tech Mahindra
Hurdle at 997-1005
If break below 984 and sustains for 20-30 minutes
then expect sell off up to 968.
PNB
Sell below 877
Non stop slide up to 862-855.
Exit short above 892
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THOUGHT FOR TODAY
Relationships With Others
A sensible person knows it is a waste of time and energy to get angry. Effort will then have to be made to reconstruct that relationship. It is much more useful to breathe deeply, pay attention to your attitude and answer without rushing. In this way, improve and strengthen your relationships with others. Create trust and your mistakes will be forgiven.
Nifty Spot
(Updated on 05-02-2013 at 08.20 AM)
We have repeatedly written that Market has
been tired and week below 6075.
Yesterday, written that Nifty spot would not make successful
crossover above 6035 and fall down below if not
able to crossover above 6035. Also mentioned that
it has support at 5982.
Nifty spot made high at 6038 and declined to 5981.25.
Now for Nifty Future
No Rise likely to sustain below 6075.
Path of great resistance up to 6025-6033.
Hurdle at 6013-6025.
Break below 5978 Expect panic selloff
up to 5959-5933-5911.
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“NEVER BEFORE HAVE YOU HAVE SEEN THIS PERFECTION OF CHART ANALYSIS“
As expected, Dow Jones and S&P 500 have been started to fall down. Let’s start by looking Nifty future…, Yes we are waiting for long “Expected time is 2-3day for long” Click here.
Yes, You can short-sell Nifty for 5928-5947 small points.
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My short-term scenario has proven to be wishful thinking. I was looking for a potential Zigzag down instead the bulls have once again aborted a pullback that in my opinion has been delayed but not removed from a pending outcome.
Regarding the long-term count, I maintain the scenario of a potential Ending Diagonal. If it pan out it will complete the Double Zigzag wave (X) off the March 2009 low establishing a major top.
But instead of an expecting a larger subdivision of the wave (III) maybe price is approaching the end of this wave.
If this is the case then once the wave (III) is in place in the next down leg, in order to be considered the wave (IV) of the Ending Diagonal, it will have to overlap below the peak of the wave (I).
The potential target for the wave (IV) could locate in the range 1463.76 – 1435.50.
In addition, if the Dow is unfolding the same ending pattern, then the wave (III) cannot exceed above 14089.64 therefore there is not much more upside left in order to maintain valid this option.
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