Elliott Wave [17-01-2011]

YESTERDAYS COMMENTS AND PERFORMANCE : 

YESTERDAYS Predicted Nifty level and Actual levels :

Predicted resistance 5820-5827 [Actual 5833]

Global cues will drag nifty towards trend support [EXACT]

Below 5687 first support 5647 [5639 Low]

+ve : Nifty has taken support at 200EMA

-ve : Negative sentiment on IT Sector through Infosys result, 

Yesterday's Petrol price hike, Continuous FII Selling, 

Expected CRR hike, Inflation, Negative breakout neck line at 5911-5920.  

So consecutive close below 5920 for another 2-3 days will 

issue some more selling pressure.  [wait and watch this statement, already

100 points negative]

OHLC : open 5752, High 5833, Low 5639, Close 5654

17th January 2011 - Technical View of Nifty / Technical view of Market :

View of Market : 

Todys Quartely result AXISBANK, Essar oil, Indusind Bank, L&T, 

Power Finance and TCS will issue some sentiment on Bank and again 

IT sector Wait and Watch the market movement. If nifty fails to hold 

6000-5587 then selling pressure will resume.

Technical View of NIFTY : 

-ve : Closed below the support trend line is coming from 25/5/2010

Closed below the support and positive break out trend line is coming

from 17/10/2009.  Closed below the almost triple bottom level 

5690-5721-5698 and 5711.  Closed below short ternd line 5693-5700.

Closed below the 38.2% level 5703.  Very strong resistance at 5693-5700

because Fibo level, Closed below the +ve break out trend line, and

short term support, expected triple bottom support trend line coinside

at the same place.

+ve : 

Chart view of NIFTY :

Next bulls support at Elliott wave target line 5584-5550 only 

or MAX 200 EMA 5648 on closing basis atleast. Next 38.2% of Fibonacci

support at 5500. Momentum indicator / Oscillator indicators in over sold.

Daily Technical Analysis of NSE index CASH NIFTY and Momentum of Market
with NIFTY CHART, NIFTY TECHNICAL ANALYSIS, NIFTY ANALYSIS.

Details in Table : Previous Day Close
200 Day Exponential Moving Average (EMA), 50 EMA and 13 EMA,

Two Different Fibonacci ratio From Which level and to which level
for that retracement percentage and values

Strength and Momentum in different time frame of nifty
Nifty trend in Hourly, Nifty trend in daily, Nifty
trend in weekly, Nifty trend in monthly

Previous Days OPEN, High, Low and CLOSE
.
SHIVA's predicted TDL trading and trend support, resistance
Position : Long or short with how many points eared/loss in
positions.

Major support and resistance Levels for nifty. This levels
will change the market from Bullish Market to Bearsih Market

HIGH LIGHT :
I USED 6350 as a major resistance for the past 5 months [ACTUAL HIGH 6338]
I USED 5700-5650 as major support for the past 5 months [ACTUAL LOW 5690]

Comments on Intraday TREND and Actual Trend of market
ie., Bullish, Bearish, FLAT, Sideways, positive, Negative etc.

Expectation about GAP up, GAP down or FLAT

Investors support levels for Nifty

Yesterdays Performance about levels and comments

stop loss for both with risk takers and without
risk takers seperately for both long and short


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