Trend Line [31-12-2010]

Technical View of Nifty / Technical view of Market Trend  : 

Technical View of NIFTY : 

Momentum RSI at 92 in Daily Chart. 

ADX +DI just crossed 30.

Money Flow indicator at 72. 

Golden Cross indicator issued buy signal 3 days before.  

Nity closed above previous high 6069. 

William'sR at Over bought zone and average of WR at -14.

Chart view of NIFTY :

-ve breakout trend line resistance at 6189-6194.  

Elliott Wave target of this swing from 5720 is at 6121-6130

(Previous high and profit booking zone.)

Expected profit booking around Elliot wave target and retraced 

upto TDL Trend support. The positive breakout and mid term trend line

coinside at the same place 6038-6025. Implies Very strong support.  

Option 1: Once Nifty hold this trend support

then possible for 6232-6250. 

Option 2 : Once Nifty fails to hold 6038-6025, then target may be around 5827-5800

YESTERDAYS COMMENTS : 38.2% of swing from 6338 [previous high] to 5690 [previous low]
at 6090. But Stiff resistance in the range 6063-6076 [previous highs 27th August
29th August, 27th October, 18th November, 6th December and 29th December].
So the range may be from 6076-6090. Expected some retracement from here.
Only because of the F&O expiry today, Once its sustained above 6090
and closed above this level for 2 consecutive days, then Nifty
try to go upto 6118-6130. So be cautious if you are in short.
EMA support at 6023-6017 in hourly and 5980-5973 in daily
Bulls try close above 6103 , Bears try to close below 6090
Wait and watch.

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 Open,High,Low and Close
200 Day Exponential Moving Average, 50 EMA and 13 EMA,
International Standard levels Like Pivot, Support & Resistance
Intraday Templates Support & Resistance,
Fibonacci Trading Support and Resistance,
Fibonacci Trend Support and Resistance

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

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