NIFTY CONTINUED WITH ITS MEGA BULLISH UP MOVE FOR THE 4TH CONSECUTIVE WEEK & WHAT IS MORE IMPORTANT IS THAT DURING EACH OF THESE BULLISH WEEK, NIFTY CLOSED ABOVE THE HIGH OF THE PREVIOUS WEEK THAT ADDED FURTHER STRENGTH TO NIFTY. A DECISIVE CLOSE ABOVE THE CRITICAL 5975 SPOT & 5995 FUTURE LEVELS ACTED LIKE A STEROID DOSE FOR THE BULLS THAT SAW NOT ONLY HEAVY BUYING ABOVE 5975 SPOT AND 5995 FUTURE LEVELS BUT ALSO SAW BEARS QUIETLY COVERING THEIR SHORTS ON EVERY SMALL INTRADAY DECLINE FEARING THAT NIFTY WILL AGAIN BE UNTRACEABLE ONCE IT AGAIN BREACHES & MORE IMPORTANTLY CLOSES ABOVE THE 29TH JANUARY SWING HIGH OF 6111 SPOT & 6120 FUTURE LEVELS. WELL BEFORE THAT ACTUALLY HAPPENS( 2 TO 3 DAYS OF CLOSING ABOVE THESE SWING HIGHS), ONE SHOULD NOT BE SURPRISED TO SEE ANOTHER DRAMA BEING ENACTED BY THE BEAR OPERATORS, INTERESTED FINANCIAL CHANNELS TO PULL NIFTY DOWN TO INDUCE A FEAR AS IF ALL THAT WAS SEEN IN NIFTY DURING THE LAST FOUR WEEKS OF RISE FROM A LOW OF 5477 TO A HIGH OF 6114 ON FRIDAY 10TH MAY WAS JUST A DEAD CAT BOUNCE & NOT THE ON GOING MEGA BULL MARKET.
WEEKLY ANALYSIS FOR WEEK ENDING 3RD MAY
IT WAS THE SECOND CONSECUTIVE WEEK OF BULLISH CLOSING FOR NIFTY WHEN IT CLOSED THE WEEK AT 5871 SPOT LEVELS ABOVE THE FIBO 61.8% RETRACEMENT LEVEL OF 5868. ALTHOUGH THE CANDLE OF THE WEEK ENDING 26TH APRIL WAS NOT AS MONSTROUS AS THE CANDLE OF WEEKENDING 19TH APRIL YET THE FACT THAT IT HAS BREACHED THE 3 CRITICAL RESISTANCES OF 5757 WHICH WAS THE NECK LINE OF THE INITIAL CUP HANDLE, 5838 THE RESISTANCE LINE COMING FROM THE SWING HIGH OF 6112 AND FINALLY THE CRITICAL FIBO 61.8% RETRACEMENT LEVEL OF 5868 TO HAVE A DAILY AND A WEEKLY CLOSING ABOVE IT ARE STRONG BULLISH SIGNALS SUGGESTING THE BULLS TO PRAY FOR A DECLINE TO DOUBLE THE LONG HOLDINGS. A DAY OR MORE OF A FRIDAY 26TH APRIL TYPE DECLINE WHEN NIFTY MADE A LOWER HIGH, LOWER LOW & A LOWER CLOSING COMPARED TO ITS PREVIOUS DAY IS THE IDEAL SITUATION FOR THE BULLS TO REMAIN CALM AND AGAIN JUMP INTO THE GAME IF AT ALL NIFTY SPOT IS PULLED DOWN TOWARDS SUB 5800 OR 5750 LEVELS.
WEEKLY ANALYSIS FOR WEEK ENDING 26TH APRIL
AS WAS PREDICTED DURING THE WEEKLY ANALYSIS OF LAST WEEK, NIFTY DISPLAYED BULLISHNESS RIGHT FROM THE START OF THE WEEK ON MONDAY 15TH APRIL AND REMAINED BULLISH FOR THE ENTIRE WEEK. WITH THE DAILY PARSAR FORMED AFTER THE LOW MADE ON 10TH APRIL AT 5477 SPOT, THIS SWING LOW OF 5477 MAY CONTINUE TO REMAIN THE SWING LOW FOR THE NEXT LEG OF THE UP MOVE. NIFTY HAVING RISEN TO NOT ONLY TO BREACH BOTH THE 200 DAY SMA & EMA AT THEIR JUNCTION POINT AROUND 5665 SPOT BUT ALSO HAVING CLOSED AT 5783 WHICH IS MUCH ABOVE BOTH THE CRITICAL 200 DAY SMA & 200 DAY EMA SUGGESTS BUILT UP OF FURTHER STRENGTH DURING THE COMING DAYS, PERHAPS IT MAY BE AFTER THE MOST LIKELY OPERATOR DRIVEN PULL DOWN TO WEED OUT WEAKER BULLS.
DURING LAST WEEK, NIFTY SPOT ALSO BREACHED AND CLOSED ABOVE BOTH THE 50 DAY SMA AT 5767 & & 50 DAY EMA AT 5740. NOW THESE CRITICAL DMAS & EMAS WILL PROVIDE INTRADAY OR CLOSING SUPPORT TO SPOT NIFTY ALTHOUGH OPERATORS & MARKET MANIPULATORS WILL TRY THEIR LEVEL BEST TO PULL THE MARKETS DOWN AT THE SLIGHTEST AMOUNT OF WELL ORCHESTRATED ADVERSE NEWS, TO WEED OUT
DURING LAST WEEK, NIFTY SPOT ALSO BREACHED AND CLOSED ABOVE BOTH THE 50 DAY SMA AT 5767 & & 50 DAY EMA AT 5740. NOW THESE CRITICAL DMAS & EMAS WILL PROVIDE INTRADAY OR CLOSING SUPPORT TO SPOT NIFTY ALTHOUGH OPERATORS & MARKET MANIPULATORS WILL TRY THEIR LEVEL BEST TO PULL THE MARKETS DOWN AT THE SLIGHTEST AMOUNT OF WELL ORCHESTRATED ADVERSE NEWS, TO WEED OUT
WEEKLY ANALYSIS FOR WEEK ENDING 19TH APRIL
IT SEEMS LIKE SPOT NIFTY IS RETRACING THE ENTIRE 1342 POINT RISE FROM ITS 4TH JUNE 2012 LOWS OF 4770 TILL ITS 29TH JANUARY 2013 HIGHS OF 6112 SPOT LEVELS. THE INITIAL 38.2% RETRACEMENT OF THIS 1342 POINT HAS ALREADY BEEN TESTED & BREACHED AT 5599. THE CRITICAL 50% RETRACEMENT COMES AT 5441 & THE MOST LIKELY 61.8% RETRACEMENT LEVEL AROUND 5282 SPOT NIFTY LEVELS. ALTHOUGH AT THE BEST BULLS CAN HOPE FOR THE RETRACEMENT TO END AROUND THE 50% LEVEL OF 5441, YET ONE SHOULD NOT BE SURPRISED IF NIFTY SPOT IS TAKEN DOWN TILL THE FINAL CRITICAL LEVEL OF 5282 TO CLOSE BOTH THE PENDING GAPS, THE 1ST GAP WAS FORMED BETWEEN 14TH SEPTEMBER 2012 LOW OF 5527 & 13TH SEPTEMBER HIGH OF 5421 & THE 2ND GAP FORMED BETWEEN 7TH SEPTEMBER 2012 LOWS OF 5309 & 6TH SEPTEMBER 2012 HIGH OF 5260. THE DOWN SIDE RETRACEMENTS TILL 5282 OR EVEN TILL 5200 ARE NATURAL RETRACEMENTS & IN NO WAY ALTERS THE OVERALL BULLISHNESS OF THE MARKETS. ALL LONG TERM INVESTORS FROM SEPTEMBER 2012 SWING LOWS OF 5217 SPOT LEVELS MAY CONTINUE TO HOLD AND ADD MORE ON DECLINES OF SPOT NIFTY TOWARDS IT TO ENJOY THE FRUITS OF PATIENCE ONCE THE MEGA BULL RUN RESUMES SHORTLY.
IF ONE JOINS THE SWING LOWS OF 20 DECEMBER 2011 AT 4531 WITH THE SWING LOWS OF 4770 FORMED ON 4TH JUNE 2012 AND EXTENDS IT, THEN IT WILL FORM THE MAJOR SUPPORT LINE AROUND 5200+ SPOT NIFTY LEVELS. THIS SUPPORT LINE ALSO FORMS A PERFECT UPWARD LOOKING RECTANGLE WITH THE RESISTANCE LINE FORMED BY
IF ONE JOINS THE SWING LOWS OF 20 DECEMBER 2011 AT 4531 WITH THE SWING LOWS OF 4770 FORMED ON 4TH JUNE 2012 AND EXTENDS IT, THEN IT WILL FORM THE MAJOR SUPPORT LINE AROUND 5200+ SPOT NIFTY LEVELS. THIS SUPPORT LINE ALSO FORMS A PERFECT UPWARD LOOKING RECTANGLE WITH THE RESISTANCE LINE FORMED BY
WEEKLY ANALYSIS FOR WEEK ENDING 28TH MARCH
NIFTY WENT THROUGH A DEVASTATING WEEK BY CLOSING AT 5651 COMPARED TO THE WEEK ENDING 15TH MARCH CLOSING OF 5872, A LOSS OF 3.75%. WELL, ALTHOUGH THIS WAS MENTIONED LAST WEEK YET THE FEROCITY OF FALL WAS NOT EXPECTED. NIFTY HAD A WEEKLY HIGH OF 5863 & A LOW OF 5631 & THE CLOSING AT 5631 VERY NEAR TO THE LOW OF THE WEEK THREATENS FURTHER FALLS DURING THE COMING TRUNCATED WEEK ENDING ON THURSDAY 28TH MARCH ON THE EXPIRY DAY. ALTHOUGH IT LOOKS HIGHLY OVERSOLD AT THIS MOMENT, YET WITH TWO DAYS OF TRADING HOLIDAYS ON WEDNESDAY & FRIDAY, NO BULL WORTH HIS SALT WOULD RISK HEAVY BUYING AT THIS JUNCTURE IN A HURRY WITHOUT WAITING FOR THE MARKET FRIENDLY MONTH OF APRIL.
THE WEEKLY CHARTS LOOK EXTREMELY DELICATE WITH NIFTY SPOT HAVING BREACHED THE 50 WEEK EMA AT 5636 TO MAKE A LOW OF 5631. ALTHOUGH NIFTY SPOT HAS MOVED UP TO CLOSE THE WEEK ABOVE IT AT 5651, YET HAVING CLOSED BELOW BOTH THE 34 WEEK EMA & 34 WEEK SMA AROUND 5720, NIFTY NOW LOOKS HIGHLY VULNERABLE FOR FURTHER FALLS IN CASE BULLS FAIL IN THEIR REPEATED
THE WEEKLY CHARTS LOOK EXTREMELY DELICATE WITH NIFTY SPOT HAVING BREACHED THE 50 WEEK EMA AT 5636 TO MAKE A LOW OF 5631. ALTHOUGH NIFTY SPOT HAS MOVED UP TO CLOSE THE WEEK ABOVE IT AT 5651, YET HAVING CLOSED BELOW BOTH THE 34 WEEK EMA & 34 WEEK SMA AROUND 5720, NIFTY NOW LOOKS HIGHLY VULNERABLE FOR FURTHER FALLS IN CASE BULLS FAIL IN THEIR REPEATED
WEEKLY ANALYSIS FOR WEEK ENDING 22ND MARCH
AFTER THE MONSTROUS MOVE FOR THE WEEK ENDING 8TH MARCH WHEN NIFTY SPOT HAD A LOW OF 5663, HIGH OF 5953 & CLOSED AT 5945 SPOT, NIFTY TOOK A PAUSE DURING THE LAST WEEK AND AFTER CORRECTING TILL A LOW OF 5792 VERY NEARLY TILL THE FIBO 61.8% LEVEL OF 5682 SPOT LEVELS, SHOT UP AGAIN TO A HIGH OF 5945 ON FRIDAY & FELL AGAIN ON THE SAME DAY TO A LOW OF 5861 TO CLOSE THE WEEK AT 5872 EXACTLY ON THE 20 DAY EMA. THE PATTERN OF DIRTY GAME PLAYED BY THE MANIPULATORS & OPERATORS CLEARLY SUGGESTS THAT NIFTY WILL BE KEPT SUPPRESSED & WILL NOT BE ALLOWED TO MOVE UP BEYOND THE FRIDAYS HIGH OF 5945 SPOT OR 5967 FUTURE LEVELS. EVEN IF IT IS MADE TO BREACH THESE LEVELS TO DECEIVE EVERYONE TO TRIGGER STOP LOSSES ABOVE THESE, BE ABSOLUTELY SURE THE SPOT NIFTY ZONE OF 5971 TO 5991 OR FUTURE LEVEL OF 5990 TO 5995 WILL NEVER BE ALLOWED BY MARKET MANIPULATORS TO BE BREACHED DURING THE MARCH MONTH. BESIDES OPERATORS & MANIPULATORS PLAYING THEIR NASTY ROLES, HIGHLY OPERATOR INFECTED SGX NIFTY AS WELL AS THE OLD FINANCIAL CHANNELS WHO ARE HEAVILY SHORT WILL NEVER ALLOW NIFTY TO MOVE UP ABOVE THESE CRITICAL LEVELS. SO, FOR THE COMING WEEK ENDING 22ND MARCH, VERY SHORT TERM & INTRADAY TRADERS MAY ACT IN ADVANCE
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