THIS FRIDAY SAW NIFTY SPOT CLOSING NEGATIVE AT 5850 FOR THE 4TH CONSECUTIVE WEEK & THE LOW ER CLOSING OF NIFTY SPOT AT 5850 WAS THE LOWEST DAILY CLOSING SINCE 21ST DECEMBER DAILY CLOSING OF 5848 SPOT. SO THE CHOICE LEFT WITH THE BULLS IS VERY LIMITED BY EITHER GOING LONG FULL THROTTLE OR FACE THE MUSIC, AS A CLOSE BELOW THE 18TH DECEMBER SPOT NIFTY LOW OF 5823, WILL NOT ONLY SEE BULLS ENTIRELY VANISHING FROM THE INDIAN MARKETS SCENE FOR MANY MANY MORE WEEKS BUT IT WILL GIVE WAY TO THE EXTERNAL MONSTER OPERATORS & MANIPULATORS TO ENTIRELY RULE INDIAN MARKETS FOR SOME MORE WEEKS. SPOT NIFTY’S WEEKLY CANDLE OF WEEK ENDING 28TH DECEMBER WAS A 7TH NRB CANDLE WITH THE LOW OF 5844 AND HIGH OF 5930. THE BREACH OF THE HIGH AT 5930 ON A WEEKLY CLOSING BASIS ON THE....
WEEKLY ANALYSIS FOR WEEK ENDING 22ND FEB
SPOT NIFTY CLOSED THE WEEK AT 5877 AFTER MAKING A LOW OF 5853 ON FRIDAY, EXACTLY AT THE 20 WEEK SMA AND THE CRITICAL 89 DAY EMA. THE BOUNCE THAT NIFTY SAW ON FRIDAY FROM THE LOWS OF 5853 SPOT AND 5858 FUTURE TO REACH THE DAY HIGH OF 5899 SPOT AND 5909 FUTURE IS PERHAPS THE EARLY INDICATION THAT THE PROTRACTED CORRECTIVE PHASE THAT HAD STARTED FROM THE 29TH JANUARY HIGH OF 6111 SPOT & 6120 FUTURE LEVELS, IS PERHAPS NEARING ITS END.
HOWEVER, SHOULD SPOT NIFTY BREACH AND MORE IMPORTANTLY CLOSE BELOW THE FRIDAY 15TH FEB LOWS OF 5853 SPOT AND 5888 FUTURE TO DEFY THE 89 DAY EMA AND THE 20 WEEK SMA THERE, THEN ONE CAN BE REASONABLY SURE TO SEE THE PROTRACTED CORRECTIVE PHASE EXTENDING A LITTLE MORE TOWARDS THE BUDGET DAY WHICH MAY EITHER STALL THE SLIDE FOR THE RESUMPTION OF THE
HOWEVER, SHOULD SPOT NIFTY BREACH AND MORE IMPORTANTLY CLOSE BELOW THE FRIDAY 15TH FEB LOWS OF 5853 SPOT AND 5888 FUTURE TO DEFY THE 89 DAY EMA AND THE 20 WEEK SMA THERE, THEN ONE CAN BE REASONABLY SURE TO SEE THE PROTRACTED CORRECTIVE PHASE EXTENDING A LITTLE MORE TOWARDS THE BUDGET DAY WHICH MAY EITHER STALL THE SLIDE FOR THE RESUMPTION OF THE
WEEKLY ANALYSIS FOR WEEK ENDING 8TH FEB
AS WAS PREDICTED, NIFTY HAD A HIGHLY TRIUMPHANT MONTH OF JANUARY. JANUARY MONTH NOT ONLY CLOSED AT 6034 SPOT LEVELS MUCH ABOVE THE DECEMBER MONTH 7TH NRB HIGH OF 5965 BUT ALSO MADE THE 8TH CONSECUTIVE MONTH OF HIGHER HIGHS THAT HAD STARTED FROM THE JUNE 2012 MONTHLY HIGH OF 5286 AFTER IT STARTED THE HIGHER HIGH ABOVE THE MAY 2012 HIGH OF 5279. OTHER THAN THE MANIPULATED 5TH OCTOBER 2012 LOW OF 4888 SPOT LEVELS, IN FACT NIFTY HAD BEEN MAKING THE 7TH CONSECUTIVE MONTH OF HIGHER LOWS ALSO STARTING FROM THE JUNE 2012 LOW OF 4770 SPOT LEVELS.
SO, ON A MONTHLY BASIS, THE CHARTS LOOK EXTREMELY BUOYANT FOR MUCH HIGHER LEVELS EVEN THOUGH MASTER OPERATORS WILL PULL NIFTY DOWN TO FLUSH OUT WEAKER HANDS, A GLIMPSE OF WHICH WAS CLEARLY VISIBLE WHEN NIFTY WAS PULLED DOWN TO A LOW OF 5987 TO HAVE A WEEKLY CLOSING BELOW
SO, ON A MONTHLY BASIS, THE CHARTS LOOK EXTREMELY BUOYANT FOR MUCH HIGHER LEVELS EVEN THOUGH MASTER OPERATORS WILL PULL NIFTY DOWN TO FLUSH OUT WEAKER HANDS, A GLIMPSE OF WHICH WAS CLEARLY VISIBLE WHEN NIFTY WAS PULLED DOWN TO A LOW OF 5987 TO HAVE A WEEKLY CLOSING BELOW
Subscribe to:
Posts (Atom)