WEEKLY ANALYSIS FOR WEEK ENDING 15TH MARCH

IT WAS A VERY GOOD WEEK FOR NIFTY LAST WEEK, TO CLOSE EXTREMELY BULLISH ON FRIDAY 8TH MARCH AT THE SPOT NIFTY LEVEL OF 5946 AFTER MAKING A DAY HIGH OF 5953. THE WEEKLY CANDLE FOR THE WEEK ENDING 8TH MARCH WAS A MONSTER GREEN CANDLE  OF 290 POINTS WITH HIGH OF 5953 AND LOW OF 5663. THIS MONSTER BULLISH CANDLE WAS ONLY SECOND TO THE WEEK ENDING 8TH JUNE 2012 MONSTER GREEN CANDLE OF 314 POINTS WITH THE HIGH OF 5084 AND LOW OF 4770. WELL THE WAY THINGS ARE SHAPING UP, ONE SHOULD NOT BE SURPRISED TO SEE ANOTHER MASSIVE UP MOVE IN NIFTY TO SHOOT PAST THE ALL IMPORTANT 6111 SPOT NIFTY LEVELS TOWARDS NEW LIFE TIME HIGHS. A DECISIVE BREACH OF 5991 BY SPOT NIFTY MAY BE THE GO AHEAD SIGNAL FOR ALL TRADERS TO CLOSE THE EYES AND ADD TO THE LONG HOLDINGS.

THE CRITICAL SPOT NIFTY ZONE BETWEEN 5971 TO 5991 IS A THE LIFE & DEATH ZONE OF THE BEARS WHO MAY TRY ALL POSSIBLE MEANS BY EMPLOYING OPERATORS AND THEIR ASSOCIATED OLD FINANCIAL CHANNELS TO STALL NIFTY FROM BREACHING
THE 5971 TO 5991 ZONE BUT ULTIMATELY IT WILL TURN OUT BE AN EFFORT IN FUTILITY AS MARKET CYCLES ARE ALL SET FOR NEW LIFE TIME HIGHS. AT THE MOST AFTER SUCH A BIG WEEKLY GREEN CANDLE AND 4 CONSECUTIVE DAYS OF HIGHLY BULLISH DAILY CANDLES, ONE MAY HOPE FOR A PAUSE OR A MILD CORRECTION THAT MAY THROW THE RIGHT OPPORTUNITY FOR THE BULLS & FENCE SITTERS TO JUMP IN, TO GRAB THE OPPORTUNITY FOR GREAT GAINS IN NEAR FUTURE. WELL FOR BEARS THERE IS NO ALTERNATIVE OTHER THAN COVERING THEIR SHORTS SHOULD SPOT NIFTY DECISIVELY BREACH THE 5971 TO 5991 SPOT ZONE & AFTER COVERING THEIR SHORTS IT IS WISER FOR THEM TO QUIETLY TO JOIN THE BULLS SQUAD FOR MUCH MORE HIGHER LEVELS TOWARDS NEW LIFE TIME HIGHS.

A FAILURE ON THE PART OF SPOT NIFTY TO BREACH AND SUSTAIN OR CLOSE ABOVE THE CRITICAL 5971 TO 5991 ZONE WILL SEE BEARS RETURNING WITH FULL VIGOR & VITALITY  TO CHASE THE BULLS OUT OF SIGHT THAT MAY SEE NIFTY SPOT SLIDING DOWN TO LOWER LEVELS OF 5891 TO 5883 ZONE TO THREATEN THE 8TH & 7TH MARCH GAP BELOW THE 5883 TILL 5874 SPOT LEVELS INITIALLY FOLLOWED BY 5828 TO 5800 LEVELS TO AGAIN THREATEN THE 5TH & 6TH MARCH GAP BETWEEN 5790 TO 5796. HOWEVER SPOT NIFTY AS CAN  BE SEEN IN THE CHART ABOVE HAS FORMIDABLE SUPPORT AROUND THE 34 & 50 DAY EMS JUNCTION OF 5883 WHICH WAS THE LOW OF FRIDAY 8TH MARCH.

THE MEGA BULLISH SIGNAL WHICH HE BEARS CAN NOT JUST IGNORE  IS THAT, NIFTY BY HAVING MADE A MONSTER BEARISH ENGULFING CANDLE ON THE BUDGET DAY FOLLOWED BY THE NEW  LOW OF MONDAY 4TH MARCH AT 5663 & THEN TO BOUNCE OFF EXACTLY FROM THE 200 DAY EMA IN THE FORM OF A REVERSAL HAMMER FORMATION FOLLOWED BY MASSIVE GREEN DAILY CANDLES TO BREEZE PAST THE BUDGET DAY MONSTER BEARISH ENGULFING HIGH OF 5850 ON THURSDAY 7TH MARCH TO SHOOT UP FURTHER ON FRIDAY 8TH MARCH TILL 5953 TO CLOSE AT 5946 SPOT ABOVE THE WEEKLY RESISTANCE LINE AT 5878 COMING FROM 29TH JANUARY HIGH OF 6111 THROUGH THE 20 FEB HIGH OF 5971. THIS MEGA BULLISH WEEKLY CANDLE ITSELF HAS ALL THE POTENTIAL IN IT TO SEE NEW LIFE TIME HIGHS IN NEXT FEW  WEEKS WITH MINOR PAUSES IN BETWEEN.

THE INDICATORS IN THE DAILY CHARTS HAVE TURNED HIGHLY BULLISH THAT MAY ENCOURAGE BOTH THE BULLS AND FENCE SITTERS TO BUY EVERY DECLINE AND ADD MORE LONGS SHOULD SPOT NIFTY DECISIVELY BREACH THE CRITICAL ZONE OF 5971 TO 5991. THE DAILY RESISTANCE LINE COMING FROM THE TOP OF 6111 THROUGH  5971 AND NOW AROUND THE THURSDAY 7TH MARCH HIGH OF 5878, HAS BEEN DECISIVELY BREACHED ON A CLOSING BASIS ON FRIDAY AND ANY OPERATOR DRIVEN SLIDE MAY FIND SUPPORT ON THIS RESISTANCE LINE OR THE JUNCTION OF 34 & 50 DAY EMA. FOR THE COMING WEEK THE MARKETS  TECHNICALLY  LOOK HIGHLY BULLISH AND ANY SLIDE MAY FIND SUPPORT INITIALLY AROUND 5922 FOLLOWED BY 5892 TO 5883 ZONE SUSTAINING BELOW WHICH MAY ENCOURAGE SHORT TERM AS WELL AS INTRADAY TRADERS TO TRADE SHORT FOR QUICK GAINS.

EVEN FAILURE ON THE PART OF THE BULLS TO TAKE NIFTY SPOT UP, TO SUSTAIN ABOVE THE CRITICAL 5971 TO 5991 ZONE MAY SEE RENEWED SHORTING INTEREST & THE VOLLEY OF FRESH SHORTS MAY PULL NIFTY SPOT DOWN TO SEE BOTH THE GAPS OF  5TH TO 6TH MARCH & 7TH TO 8TH MARCH BEING FILLED UP. SUPPORT & RESISTANCE LEVELS HAVE BEEN MARKED ON THE DAILY CHART ABOVE WHERE BOTH THE UP OR DOWN MOVE MAY GET DELAYED  ALTHOUGH THE TECHNICALS CERTAINLY POINT TOWARDS BULLISHNESS & AT THE WORST CASE THERE MIGHT BE A MILD PAUSE. REMEMBER THERE IS NOTHING WRONG WITH INDIAN ECONOMY OR ITS MARKETS, WHEN DOW CAN MAKE SO MANY CONSECUTIVE DAYS OF LIFE TIME HIGHS THERE IS NO REASON WHY INDIAN MARKETS WILL LAG  BEHIND. IT IS ONLY OUR OWN OLD FINANCIAL CHANNELS HOLDING HUGE BEARISH POSITIONS WHO WILL BE PULLING OUR MARKETS DOWN  BY EXAGGERATING THE MILDLY NEGATIVE NEWS AND WILLFULLY SUPPRESSING THE BULLISH & MARKET FRIENDLY NEWS.

1 comment:

ANUBHA JAIN said...

BUY APOLLO TYRES 220 CALL ABOVE 9.50 TG- 10.00/11.00/13.00 SL- 8.30 (CMP- 9.40)
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