WEEKLY ANALYSIS FOR WEEK ENDING 3RD MAY

IT WAS THE SECOND CONSECUTIVE WEEK OF BULLISH CLOSING FOR NIFTY WHEN IT CLOSED THE WEEK AT 5871 SPOT LEVELS ABOVE THE FIBO 61.8% RETRACEMENT LEVEL OF 5868. ALTHOUGH THE CANDLE OF THE WEEK ENDING 26TH APRIL WAS NOT AS MONSTROUS AS THE CANDLE OF WEEKENDING 19TH APRIL YET THE FACT THAT IT HAS BREACHED THE 3 CRITICAL RESISTANCES OF 5757 WHICH WAS THE NECK LINE OF THE INITIAL CUP HANDLE, 5838 THE RESISTANCE LINE COMING FROM THE SWING HIGH OF 6112 AND FINALLY THE CRITICAL FIBO 61.8% RETRACEMENT LEVEL OF 5868 TO HAVE A DAILY  AND A WEEKLY CLOSING ABOVE IT ARE STRONG BULLISH SIGNALS  SUGGESTING THE BULLS TO PRAY FOR A DECLINE TO DOUBLE THE LONG HOLDINGS. A DAY OR MORE OF A FRIDAY 26TH APRIL TYPE DECLINE WHEN NIFTY MADE A LOWER HIGH, LOWER LOW & A LOWER CLOSING COMPARED TO ITS PREVIOUS DAY IS THE IDEAL SITUATION FOR THE BULLS TO REMAIN CALM AND AGAIN JUMP INTO THE GAME IF AT ALL NIFTY SPOT IS PULLED DOWN TOWARDS SUB 5800 OR 5750 LEVELS.

WEEKLY ANALYSIS FOR WEEK ENDING 26TH APRIL

AS WAS PREDICTED DURING THE WEEKLY ANALYSIS OF LAST WEEK, NIFTY DISPLAYED BULLISHNESS RIGHT FROM THE START OF THE WEEK ON MONDAY 15TH APRIL AND REMAINED BULLISH FOR THE ENTIRE WEEK. WITH THE DAILY PARSAR FORMED AFTER THE LOW MADE ON 10TH APRIL AT 5477 SPOT, THIS SWING LOW   OF 5477 MAY CONTINUE TO REMAIN THE SWING LOW FOR THE NEXT LEG OF THE UP MOVE. NIFTY HAVING RISEN TO NOT ONLY TO BREACH  BOTH THE 200 DAY SMA & EMA  AT THEIR JUNCTION POINT AROUND 5665 SPOT BUT ALSO HAVING CLOSED AT 5783 WHICH IS MUCH ABOVE  BOTH THE CRITICAL 200 DAY SMA & 200 DAY  EMA SUGGESTS BUILT UP OF FURTHER STRENGTH DURING THE COMING DAYS, PERHAPS IT MAY BE  AFTER  THE MOST LIKELY OPERATOR DRIVEN  PULL DOWN  TO WEED OUT WEAKER BULLS.

DURING LAST WEEK, NIFTY SPOT ALSO BREACHED AND CLOSED ABOVE BOTH THE 50 DAY SMA AT 5767 & & 50 DAY EMA AT 5740. NOW THESE CRITICAL DMAS & EMAS WILL PROVIDE INTRADAY OR CLOSING SUPPORT TO SPOT NIFTY ALTHOUGH OPERATORS & MARKET MANIPULATORS WILL TRY THEIR LEVEL BEST TO PULL THE MARKETS DOWN AT THE SLIGHTEST AMOUNT OF WELL ORCHESTRATED ADVERSE NEWS, TO WEED OUT

WEEKLY ANALYSIS FOR WEEK ENDING 19TH APRIL

IT SEEMS LIKE SPOT NIFTY IS RETRACING  THE ENTIRE 1342 POINT RISE FROM ITS 4TH JUNE 2012 LOWS OF 4770 TILL  ITS 29TH JANUARY 2013 HIGHS OF 6112 SPOT LEVELS. THE INITIAL  38.2% RETRACEMENT OF THIS 1342 POINT HAS ALREADY BEEN TESTED & BREACHED AT 5599. THE  CRITICAL 50% RETRACEMENT COMES AT 5441 & THE MOST LIKELY 61.8% RETRACEMENT LEVEL  AROUND 5282 SPOT NIFTY LEVELS. ALTHOUGH AT THE BEST BULLS CAN HOPE FOR THE RETRACEMENT TO END AROUND THE 50% LEVEL OF 5441, YET ONE SHOULD NOT BE SURPRISED IF NIFTY SPOT IS TAKEN DOWN TILL THE FINAL CRITICAL LEVEL OF 5282 TO CLOSE BOTH THE PENDING GAPS, THE 1ST GAP WAS FORMED  BETWEEN  14TH SEPTEMBER 2012 LOW OF 5527 & 13TH SEPTEMBER HIGH OF 5421 & THE 2ND GAP FORMED BETWEEN 7TH SEPTEMBER 2012 LOWS OF 5309 & 6TH SEPTEMBER 2012 HIGH OF 5260. THE DOWN SIDE RETRACEMENTS TILL 5282 OR EVEN TILL 5200 ARE NATURAL RETRACEMENTS & IN NO WAY ALTERS THE OVERALL BULLISHNESS OF THE MARKETS. ALL LONG TERM INVESTORS FROM  SEPTEMBER  2012 SWING LOWS OF 5217 SPOT LEVELS MAY CONTINUE TO HOLD AND ADD MORE ON DECLINES OF SPOT NIFTY TOWARDS IT TO ENJOY THE FRUITS OF PATIENCE ONCE THE MEGA BULL RUN RESUMES SHORTLY.

IF ONE JOINS THE SWING LOWS OF 20 DECEMBER 2011 AT 4531 WITH THE SWING LOWS OF 4770 FORMED ON 4TH JUNE 2012 AND EXTENDS IT, THEN IT WILL FORM THE MAJOR SUPPORT LINE AROUND 5200+ SPOT NIFTY LEVELS. THIS SUPPORT LINE ALSO FORMS A PERFECT UPWARD LOOKING RECTANGLE WITH THE RESISTANCE LINE FORMED BY

NIFTY FUTURE 8 MONTHS DAILY CHART