Update 08 Aug:

Today Nifty is again moved up and made high 5393.55 but couldn't sustain and came down and close @5357.

Observation : -
On daily Chart, It showing the bearish candle stick pattern as Hammer at the top which was usually reversal point of the upmove rally.
Similarly as yesterdays said, there was strong -ve divergence shown in the RSI and MACD indicator.

This predicts to me that Nifty will start move down from here.. Let us watch ...

Update : Stay Short on Nifty

I felt that it was the flase breakout on upside. Nity future have broken the last high of 5358 and made new high as 5362 as per LOG chart.
On daily Chart, even if the Nifty break last top but RSI indicator is not break its last top, Predicts as Strong Negative divergence.
So, I still strongly feel that Nifty will start a move to downside as "C" as per the chart shown below.
Major Support Zone - 5164. If this support is not break then Our view will not be so bearish and we have to change the count. Let us watch !!!

Nifty Strong Short Call 08 Aug - Hourly

CMP Nifty future is 5334. Short Nifty here with 5350 as SL, Target will be 5270 (Immediate Intraday), Positional Target will be below 5000.

Study as below - Let us see How Waves unflod in the coming days...

EURUSD_03Aug_Hourly

Nifty Weekly Chart Report 7 July 2012

Nifty Weekly Chart Report 7 July 2012: -

Nifty future currently @ 5286

* Nifty is into the B Wave correction in upward direction and correcting the Down rally from High 6341 to Low 4534. 

*  On the movement of B wave, it looks nifty is already completed the wave a & b and we are currently into the  final leg of c wave.

* As per the chart,  we are getting the target below.

                *  as per the projection by ab wave, target will be 5849.

                * as per the C wave internal 123 Fibo level, target  will be 5870.

                * as per the Fibo time/price wise, target will be 5820 on 29 Sept 2012.

Back to the Blog again....

Target Achieved @nifty Future 4848. 51 point Gain. CMP Nifty furture is 4835

Nifty Intraday SHORT Call

CMP Nifty Future 4901 Short Nifty @4901 with 4917 as stop loss, For Target @ 4848.

Update: Buy Call of Nifty today 3 May 2012

Stop Loss Hits on 14 Points. Wait for next call.

Nifty Buy Call - 3 May 2012 10:23am

CMP Nifty Future 5212 with Stop Loss - 5198 for Target - 5280/5300/5320.  Risk Reward Ratio is 1:4