Monday, February 4, 2013

Technical Analysis for Nifty

Nifty closed below the important level of 6000 in the last trading session . Lets analyze what are the probabilities ahead -






The bias has turned negative as of now in the short term with a probability of technical bounce early in the week . Targets down are 5935, 5825 apprx. Caution for shorts if closes above 6040. 6075 may be the trend reversal level now for any upmove to unfold.


paddy said...

Thanks for your Road map for the week ahead. It really helps!!

Unknown said...

Thank you for the update. Looks like a caution to go over night positions.

Nilesh Patil said...

Good Analysis As usual
Thank you sir.

Piyush Sharda said...

good analysis rv

bizagra said...

Thanks for the update aarvee.

AAR VEE said...

Thanks Paddy ,Rajapvt ,Nilesh ,Piyush and Bizagra for leaving your comments.

AAR VEE said...

Eod 04-02-13

Open was with a gap up bounce right into the resistance area inviting a sell and formed a lower low wrt last session.

Though the fall is on relative lower volumes but no divergence as of now to call for contra trade . The trend remains down for targets as in the post.

Trendline support as in the charts above likely to be now tested in a session or two.

6000 level now becomes resistance on closing basis in near term with 6040 /todays high as imp level to signal reversal for upmove .

AAR VEE said...

Eod 05-02-13 :

Test of 50dma and lower B.B. done today.
O/s hrly may give some bounce.
6000-6030 remains a resistance zone.
Only close above 6040 may bring some hope for reversal.

Ananymous@V said...

great aarvee to see you posting regular updates....

AAR VEE said...

@ Ananymous@V ,

I usually update at some imp levels/signals expected or followup the post's conclusions in the comment.

Eod 07-02-13

First close below 50dma right at trendline (from 4770) support .

Downward bias continues ,though hrly has some +ve divergence but higher tf of daily in o/s without any divergence.

Only close above 50dma/5960 to be taken as signal of short term reversal now.