We had a very interesting day today on 3rd August 2011. After a long time, I got some ‘real’ time to analyse NIFTY.
NIFTY has been moving down since Nov 2010 after making a Double Top at the All Time HIGH of 6349 (previous Top was 6336 on 8th Jan 2008). In my analysis, I use GANN Angles and they work so beautifully.
Look at the first chart below showing a GANN angle from All Time Low of 860.3 on 21 Sep 2001. It has been acting as a support line to NIFTY since Nov 2009.
visit www.sumitkgupta.com for charts and remaining article
Thursday, August 4, 2011
Thursday, July 21, 2011
Monday, June 20, 2011
NIFTY has been trading in a range of 5300 to 5650 for quite some time.
On 20th June, it has breached an important support @ 5300 hundred. It touched a LOW of 5196 today, before closing @ 5258. Another important support is around 5180, however, I am confident that it will get breached too!
Next target for NIFTY is 4969, and I won't be surprised if we see it achieved by 22nd June 2011. Two days to go!
Thereafter, next support levels are 4765 and 4300. Watch out for a 20% run down on NIFTY.
Happy Trading Shorts!
On 20th June, it has breached an important support @ 5300 hundred. It touched a LOW of 5196 today, before closing @ 5258. Another important support is around 5180, however, I am confident that it will get breached too!
Next target for NIFTY is 4969, and I won't be surprised if we see it achieved by 22nd June 2011. Two days to go!
Thereafter, next support levels are 4765 and 4300. Watch out for a 20% run down on NIFTY.
Happy Trading Shorts!
Tuesday, June 7, 2011
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