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Nifty Outlook for 14-12-2011

Daily Outlook
We were watching 4730 as trend decider level for the day and expecting at least intraday pullback at 4830 levels once it gets hold. Despite opening lower at 4733 and losing merely five points in early trade, Nifty rebounded and touched the day’s high at 4824 levels in intraday trade. At the end, Nifty registered “psychological” close at 4800 mark with the gain of 36 point.
On daily chart, Nifty has formed “Thrusting line” a bullish continuation pattern by taking support at important level of 4730 level. This could be the indicative of temporary pullback in Nifty. In this case, the level of 4830 becomes important level to be watch. As we said before, in case, if Nifty succeeds to hold above 4780 and sustain above 4830 then it will see continuation in pullback in Nifty. In that case, Nifty will test 4880 and above that 5000 levels in coming session. On the other hand, if it fails to hold and remain below said level then we will see violation of 4700 mark in few sessio…
Daily Outlook
We said that formation of green candle indicates bullish bias but never negates the possibility of intraday fall around 5020 level. After opening lower on Monday’s trade, Nifty witnessed rise but restricted its trade below 5060 by testing day’s high at 5055 level and slipped down at day’s low at 5002 level. Finally, witnessing some rally in last an hour of trade, Nifty closed at 5039 level by losing 11 point.
On daily chart, Nifty has formed “in body” small green candle with upper and higher lower tail. This implies tug-of war between buyers and sellers. It means neither bulls nor bears were able to gain control. This could be the indication of development of turning point. In such kind of scenario, 5080 on upper side and 5020 on lower side remains important levels to watch. If Nifty succeeds to hold and sustain above 5080 level then it will extend its rally i.e. above 5080 will lead 5110-5160 levels in coming trade. On the downside, if Nifty fails to hold and remai…

Nifty Outlook for 05-12-2011

Daily Outlook
Nifty continued its winning on back of global rally. After opening merely one point higher and witnessing fall at 4918 thereafter, Nifty rebounded and surged above another psychological mark of 5000 level. At the end, Nifty registered close at 5050 level by gaining 114 point.
On daily chart, Nifty has formed big body green candle with small upper and lower shadow and closed above 50% retracement of entire rally from 5399 to 4639 level. This indicates bullish bias but never negates at least intraday fall around 5020 level. In case, if Nifty succeeds to hold and sustain above 5080-5100 level which is acting one of the important resistance level for the day then it will continues the rally. In that case, The possibility of Nifty testing 5160-5260 levels in coming session will remain on card. On the other hand, failure to trade above 5080-5100 level will lead profit booking in Nifty. In this case, Nifty will test 5000 and below that 4960 levels.
(..remember ….the viol…

Nifty Outlook for 02-12-2011

Daily Outlook
Nifty continued its winning streak by gaining 104 points huge gain. Nifty responded to the massive global rally with a big gap opening and touched the days high at 5011 level in intraday trade. Finally witnessing some intraday correction in last an hour of trade, Nifty closed above another psychological hurdle of 4900 mark at 4936 level.
On daily chart, Nifty has formed Red candle with higher upper tail. This indicates profit booking at higher level. In such a kind of scenario, the level of 4900 will remains important levels to watch. If Nifty fails to hold and remain below 4900 level for the day then it will see fall into the yesterday’s gap area in between 4865 to 4880 levels. While if Nifty manage to sustain above 4900 level then it will continue the rise above below 4960 and above 5000 level.
(..remember ….the violation of 4728-20 level has open the possibility of 2nd corrective after “x” wave as we mentioned earlier …in this case, Nifty has strong possibilit…
Daily Outlook
We were watching 5219 as trend decider level for the day. Yesterday, Nifty opened with downside gap but rebounded at day’s at 5300 thereafter by holding 5200 mark. At the end, Nifty managed to close near previous day’s close at 5258 level with 0.5 points minor gain.

On daily chart, Nifty has formed Bullish “Counter Attack” pattern with higher upper tail. This indicates that a line has been drawn in the “sand” on the current trend and the opposing forces are determined to change that trend. In such kind of scenario, the psychological level of 5200 will become important levels to watch. In case, If Nifty succeeds to hold and sustain above 5200 level then we will see continuation in the pullback rally in Nifty i.e. above 5300 will lead 5370 and 5420 levels. On the other hand, If Nifty fails to hold and remain below 5200 then we will see continuation in downward correction around 5100 to 5100 levels in coming session.
The trend decider level for the day is 5200 levels. A …

Nifty Outlook for 03-11-2011

Daily Outlook
We were watching 5219 as trend decider level for the day. Yesterday, Nifty opened with downside gap but rebounded at day’s at 5300 thereafter by holding 5200 mark. At the end, Nifty managed to close near previous day’s close at 5258 level with 0.5 points minor gain.

On daily chart, Nifty has formed Bullish “Counter Attack” pattern with higher upper tail. This indicates that a line has been drawn in the “sand” on the current trend and the opposing forces are determined to change that trend. In such kind of scenario, the psychological level of 5200 will become important levels to watch. In case, If Nifty succeeds to hold and sustain above 5200 level then we will see continuation in the pullback rally in Nifty i.e. above 5300 will lead 5370 and 5420 levels. On the other hand, If Nifty fails to hold and remain below 5200 then we will see continuation in downward correction around 5100 to 5100 levels in coming session.
The trend decider level for the day is 5200 levels. A …

Nifty Outlook for 19-10-2011

Daily Outlook
On Monday, we were watching 5170 as trend decider level. Nifty restricted its trade at 5160 levels and thereafter, witnessed continuous two day’s fall at 5011 level, forming falling gap in between 5084 to 5057 levels. Yesterday, again, Nifty closed with negative bias at 5037 with loss of another 80 point.
The Nifty has formed a bearish continuation candle with long lower shadow. The long lower shadow of candle implies that sellers drove prices lower during the session but strong finish indicates that buyers regained their footing to end the session on strong note. In this kind of scenario, the level of 4990 which is acting as important support level for the day as 38.2% retracement level of entire rise from 4720 to 5169 level will play important role as “trend decider” level for the day. In case, if Nifty succeeds to hold and sustain above 4990 level for the day then we will see pullback in Nifty. In this case, Nifty will attempt to fill the yesterday’s falling gap of…

Nifty outlook for 17-10-2011

Daily Outlook We were watching 5070 as trend decider level for the day and were expecting Nifty’s continuation of rising trend once move sustains above this level.After opening lower at 5075 and recording low at 5056 level on Friday’s trade, Nifty rebounded smartly and surged at higher level above 5100 mark. Finally, recording day’s high at 5141 level, Nifty closed at 5132 by gaining 54 point.
On daily chart, Nifty has formed bullish powerful candle “Piercing Line” against previous day’s Red candle.The formation of piercing line pattern which implies renewed buying pressure indicates further upside move in Nifty. In case, if Nifty breaches and sustain 5170 which is multiple top area then rise will get continue in coming session i.e. above 5170 will lead 5200 and above that expected5330 level. On the contrary , if Nifty fails to holdandremain below 5170 then it will witness the intraday fall at 5120 level…( pls note , a sustainable move below 5120 will negate the “piercing line” patter…

13-14k predicted in FEB 2011..( Nove 2010 in ERR group) ( power of wave theory)

MCSI AC index technical outlook

Sell TCS

Nifty outlook on 1-07-11

Market need a halt..( consolidation or correction) around 5645-55 to be remain in bull run of 5780

nifty on 28-06-11

Downward C wave in Sensex will hit 16k