Monday, August 8, 2011
Sunday, August 7, 2011
NIFTY closed below 5300 though at the day's HIGH on 5th August, 2011. Hence, it gave mixed signals in terms of the direction. Generally, the market would close around the day's LOW else, it could be a trend reversal signal.
However, gap down opening again today, has confirmed the bear phase of NIFTY. Let's see if it is able to hold 4980 level. If it doesn't, (which in my opinion may not be held for more than 2 days), we are likely to see a free fall to 4700, 4200 and may be 3175 in next 6-8 months.
It's not time to invest in the market and investors should stay away. Those invested with a horizon of less than 6 months, should exit and enter after or around diwali, after checking signals on Diwali muhurat trading.
Yes, the traders should look out for Short Selling opportunities in the market. The decline is going to be sharp.
As they say, "Bull climbs through stairs, and Bear goes down by lift"
However, gap down opening again today, has confirmed the bear phase of NIFTY. Let's see if it is able to hold 4980 level. If it doesn't, (which in my opinion may not be held for more than 2 days), we are likely to see a free fall to 4700, 4200 and may be 3175 in next 6-8 months.
It's not time to invest in the market and investors should stay away. Those invested with a horizon of less than 6 months, should exit and enter after or around diwali, after checking signals on Diwali muhurat trading.
Yes, the traders should look out for Short Selling opportunities in the market. The decline is going to be sharp.
As they say, "Bull climbs through stairs, and Bear goes down by lift"
Thursday, August 4, 2011
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
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, July 21, 2011
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