Elliott Wave [10-01-2011]

YESTERDAYS COMMENTS AND PERFORMANCE : 

YESTERDAYS Predicted Nifty level and Actual levels :

Predicted resistance 6063 [6051 Actual H]

Predicted "Below 6005 tgt 5930" Actual low 5883 [Reached]

Yesterdays statement : Every resistance is for profit booking.  Close above 

6120

only issue some short covering and fresh buying opportunity.

Sector wise rotation is going on.  [EXACT TTTTTTTTTTTTTTTTTTTTTT]

10th January 2011 - Technical View of Nifty / Technical view of Market :

View of Market : 

First Time Nifty issued some negative momentum and closed below 

Every resistance is for profit booking.  There is a chance for

retracement upto 6000 only if nifty close above 5950.

Technical View of NIFTY : 

+ve breakout neck line support line 5942-5955 is resistance

now. Short term support trend line at yesterdays low.  Next 

major support is another +ve breakout line at 5682-5675.

Chart view of NIFTY :

Positive breakout trend line now act as a resistance 5950.

Projected elliot wave target line at 5800-5765, Next bulls support 

at 5682-5675 only.  Cluster of supports with +ve breaout lines, Elliot

Wave target, short term term trend line.  Cluster of resistance +ve

breakout line act now as resistance, EMA and Fibo levels.  So range 

will be for 150-200 points on negative side.  Dont take any longs

if nifty close below yesterdays low for 2-3 days consecutively.

Shorters may put stop loss of 6050, without ris takers 5960 - both

on closing basis.

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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