weekly report 29-12-09

In daily chart nifty touch the 5182 third time & try to break out but it close below it ,daily momentum is strong so hope it cross it with good volume & heading to 5300-5376-5500.MACD turn +ve .












In weekly chart nifty close below the trend line last week,but in this week nifty cover all downside in single day & close above the trend line . weekly momentum change -ve to +ve & trap the bears.Nifty break the upper range of 5182 but not close above it,close above this range nifty t-5225-5300-5376.-ve divergence seen macd.













In monthly chart nifty in a range last four month ,nifty touch the 52 week high & close highest point of this year.Closing above this range nifty go into new range t- 5376-5500.
OVER ALL
Nifty close 52 week high & hope break out & t-5300-5376-5500,
IF THIS IS TRIPLE TOP I BET ON IT THAT NIFTY T- 4500-4550.
HAVE GOOD WEEK

intraday

update at 2.57 pm
book partial profit at 5195 on stop & reverse call

update at 2.10 pm
sl revise to 5157 stop & reverse [spot]

update at 1.37 pm
sell nifty at 5148 sl 5163 spot

intraday

update at 3.30
sl trigger at 5130.
update at 1.25
sell nifty at 5120 sl 5130 spot.

update at 11.40

5041 is short term sl is trigger ,short at 5084 on 15 December.

intraday

up date at 2.24
close long at 4982 ,nifty is range bound so wait & watch.
up date at 11.30
Today nifty gives bounce back to 5002-5011-5041 .so buy for intra day at 4980 sl 4967 low of day. hold short on 15 December at 5084 sl 5041.

weekly update for 21-12-09

In daily chart nifty making a double top & rounded top ,nifty found support at 4900-4850 & than rally if this level not hold than we see deeper correction up to 4800-4539.










In the weekly chart nifty making the double top & closing below the trend line .-ve divergence seen in MACD .

In the monthly chart clearly shows that nifty in range last 4 month 4539-5182 .Every month nifty touch the upper & lower range but in December nifty touch the upper range but not cross it ,now nifty turn to lower range 4539.

Over All

I am in bear camp short term & medium term trend turn down. sl-5067 for short & medium term sl 5182 ,short term t-4960-4920,medium term t- 4850-4539.

close below 5000

Nifty below 5000 sell more ,becoz close below 5000 medium term trend remain down t- 4850.
Hold short positin ,short at 5084 , sl 5067-5075

intraday

Nifty in narrow range break out either side give a good intraday gain.

sell nifty

sell nifty at 5070 level sl 5100 t- 5000-4960-4920.

risky trade

nifty break the 5 day low 5084 so sell nifty with sl 5130 day high ,if nifty close below 5084 than carry short position .

trading range

From 1 December nifty in trading range 5050-5182 very narrow range . Hope in one or two days will break this range. That will gives good trading opportunity till wait & watch.

nifty don't cross 52 week high

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This week nifty touch again 52 week high but not cross this level . nifty start with gap up up move on Monday from 4931 & close at 5108. this a good up move.we are all bullish in mkt but there is some point in my mind .

Last three day nifty making doji pattern i show in chart nifty making a evening doji star pattern & double top both are gives a bearish sing in coming weeks they are ignore only when nifty close above 5182 .In weekly chart we touch the 52 week high but MACD shows -ve divergence at this level.

i finger cross , nifty cross 5182 & heading to 5500 but this is possible with good FII in flow,good global & domestic news.

happy trading

good sing for bulls

20 day sma cross the 50 day sma in the chart & nifty close above 5050 that is good sing for bulls .nifty is volatile & trade in range so trade with tight sl .