Nifty CHART

 Based on the provided analysis of Nifty:

1. Price Action & Range:

   • Nifty has been holding above the 23,575-23,600 level for the last three days, showing resilience at these support levels.
   • The lows of the last three days (Jan 6, Jan 7, and Jan 8) are progressively higher, with each day’s close showing a positive movement compared to the previous day.

2. Momentum:

   • The momentum is indicated to be negative in the short term (which could imply some corrective pressure or lack of strong buying interest), but the trend remains positive. This suggests that the overall market bias is still upward, but there may be some consolidation or volatility in the near term.
   • The RSI (14) being in a positive crossover with the short-term EMA (5 and 8) points towards potential bullishness in the short term, even though the overall momentum is negative.

3. Resistance Levels:

   • The major resistance levels for Nifty are marked at 23,871, 23,974, and 24,070-24,414. These are areas where price could face challenges to move higher, and they could signal short-term pullbacks or reversals.

4. Fibonacci & Volatility:

   • The latest swing from 23,263 to 24,857 has a key Fibonacci retracement level at 23,604 (78.6%), which is close to the recent low points of 23,551, 23,637, and 23,496. These levels may act as crucial support zones.
   • Volatility is low around these levels, but any break below 23,600 could potentially lead to higher volatility, especially if the support zones fail to hold.

5. Expectations:

   • There is an expectation of low volatility unless a significant break occurs in the support levels or the price moves toward the resistance levels.
   • Based on the analysis, fast moves in either direction are not expected due to the balance between negative momentum and the positive trend. The market is likely to remain in a consolidation phase unless there is a clear breakout or breakdown.

Summary:

• Nifty is in a consolidation range with good support above 23,600 and resistance around 23,871–24,414.
• The short-term momentum is negative, but the overall trend is positive, indicating possible volatility with no rapid moves expected.
• The market is expected to remain within a defined range unless a clear directional break occurs above resistance or below support.

Nifty Chart

Key levels to watch 8218-8200 for 8147-8127
Key levels to watch 8257-6829 for 8317-8329.

As per expected, first target reached.  Why it was halted around 8228-8252.
Simple technical reason, always Swings halted at 138.2% [8257] or 161.8%.[8379],
That is why at the time Nifty reached 8055, insisted dont short here.
[everybody expected around here short for Double Top reason].

First bounce back from 7691 [7539-8055 swings 61.8%], so minimum
TARGET 138.2% at 8257 [Fridays high 8246 almost reached TGT].

Above 8260 close will lead nifty towards 161.8% of the current swing 8379
But supercycle 9119-7539 swing's 50% @ 8329].
So Close above 8260 will hit minimum target 8329 maybe with flash rate
around 161.8%  of current swing at 8379 Lower top / Higher lows Trend
line also around 8369

So minimum swing above 8252 will lead up to 8369-8379, Strong resistance.

50% of the overall cycle [9119-7539] at 8329,  So, as of now close
above this level is very important to lead the rally further.

Profit booking around 8369-79 is MUST.

wait and watch for further move.

Nifty Chart

OLD Story :
See now bearish swing chart  9119-8269 Reversed exactly at 61.8% towards 138.2%
Reached EXACTLY.

Bounced Exactly from 7944 (138.2%)[predicted 7940]  to 8593 (38.2%)
Predicted 8593 [actual 8610]  to 161.8% [7743]
Predicted 7743 [actual low 7539, that is aso predicted]

From there expected 8058 [actual high 8055]

Always 161.8% finished means small bounce back bullish swing formed

That bullish swing is 8055-7539 took a
support at 61.8% of swing 7743 on
closing basis [almost double bottom,check the chart]

As per above bearish story history repeat for Bullish swing 7539-8055

Implies minimum tgt 8252-8269 (138.2%)

Everybody expected double top 8055  is for short dont do that
because swings always rest at 138.2% [8252-8269] or at 161.8% [8373]

So wait and watch

Nifty Chart

Position : Nil

Nifty Trade Support 5874-5862 Resistance 5939-5951
Nifty Trend Support 5828-5820 Resistance 5989-5993

Nifty

14th May 2013

Position - NIL
Yesterday Trailing SL HIT
Closed 250 at 6050 [+370]
Closed 250 at 6018 [+338]

Nifty Trade Support Range 5964-5959
                   Resistance Range 6020-6027
Nifty Trend Support Range 5956-5949
                   Resistance Range 6060-6069

Technical Details :
127.2% of swing 5477-5911 is @ 6108
Previous TOP 6111
Swing High  6114

Double Top 6110-6115 , matched with 127.2% , we took 6113 as Trend change resistance , Exactly from there nifty is coming down. Wait and watch for entry on both side.