Saturday, April 25, 2015

Rhombus

  • From now onwards, I would update the blog from swing to swing rather than a fixed period of time, viz., daily or weekly. It appears to be a more efficient solution for my Mercurial disposition!
  • The last swing started from 8844 (forecast:8850) for the forecast level of 8144.
  • If in case it breaches 8144 then the next level is 8008.
  • Preliminary Target for Next Swing would be for 8700.
  • So from here it might do 8305 to 8531-8557 to 8144-8008 to 8700. Will meet if anything new comes up. Enjoy!



  • Addendum
    • Nifty is likely to reach 8144-8008 on or before Fri, May, 08, 2015.
    • Preliminary Time Projections for Reaching 8700 would be on or before June, 12, 2015. (Edited)





Sunday, April 12, 2015

The Dark Side of the Moon

    First a Recap:

    1. As expected, Nifty is going down slowly and has almost reached our first target of 8531 falling from 9119.
    2. If Nifty breaches 8530 then our next and final Target is 8270 corresponding with 17,600 in Bank Nifty
    3. The expected range is 8440 to 8737, with the high coming first.
    4. A dead cat bounce is expected from around 8520 ± 25
    5. For Bank Nifty the expected weekly range is 18,350 to 18,880

  • Nifty did find support at 8269, and jumped back to test our next target 8850, as discussed on FB page; and Bank Nifty found support at 17719 thereby missing our target given at 19000, by 119 points.
  • Apparently Nifty is doing a zigzag in it's "B" Wave at the Sub-Minuet Degree
  • There are Multiple Pivot Clusters between 8861 and 8966, which are likely to arrest the current rise
  • On Weekly Charts the Make-or-Break Cluster is 8578 to 8637. A breach of the same should signify the re continuation of Down-Trend with an initial target of 8144.
  • Banking and IT continue to be very weak in the charts. The weakness in IT seems to be due to the fact, and unbelievably so, that Dollar seems to be topping out! Uncle Sam seems to be unwell.
  • Bank Nifty might top out Close to 19100 ± 100 points.
  • I am deliberately leaving out range guidance this week, owing to a study conflict, would resume in coming weeks.