Technical Analysis and Research For 19-08-2011
Nifty-EOD Chart(18-Aug-2011):-
Technical Patterns and Formations in EOD charts
1- All trends are down.
2- 13 Months Structure has been broken down below 5178.
3- 93 Points gap(5323-5230) down on 05-08-2011
4- Last 9 sessions trading between 4932-5230
Conclusions from Nifty-Micro Analysis of Intra Day Chart(18-08-2011)
4 Hours selling between 4770-5000 and Nifty closed(5944) at the lowest of last 9 sessions range on 18-08-2011
Conclusions
Nothing is left for Bulls and bearish market is in full swing. Any reversal will happen only after complete consolidation and only pull back rallies will be seen after panic bottom formation or few sessions consolidations. Next 5 following Crucial Supports should be watched for pull back rally possibilities:-
1- 4786
2- 4692
3- 4539
4- 4353
5- 3919
Panic like sentiment today after all European markets 4% to 6% down closing and US markets more than 4% down trading at this moment, such negative closing today will mean crashing mood in Asian markets tomorrow and Indian markets will also not be spared as well as big gap down opening may be seen. As Indian markets are completely Bearish and selling seen below 5000 today also therefore above mentioned 1st support may be tested also in the coming sessions.
Above Bearish views are not being given after crashing US markets but weak markets and more down moves were clearly told 3 times in the Blog during trading hours Outlooks and anybody can verify anytime. Bearish markets are on and Pull Back rally will be considered only after Panic bottom formation or some sesions consolidations.
Whenever Nifty will consolidate near about any of above mentioned 5 Crucial Supports then Pull Back Rally will be considered.
Nifty-EOD Chart(18-Aug-2011):-
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| Just click on chart for its enlarged view |
1- All trends are down.
2- 13 Months Structure has been broken down below 5178.
3- 93 Points gap(5323-5230) down on 05-08-2011
4- Last 9 sessions trading between 4932-5230
Conclusions from Nifty-Micro Analysis of Intra Day Chart(18-08-2011)
4 Hours selling between 4770-5000 and Nifty closed(5944) at the lowest of last 9 sessions range on 18-08-2011
Conclusions
Nothing is left for Bulls and bearish market is in full swing. Any reversal will happen only after complete consolidation and only pull back rallies will be seen after panic bottom formation or few sessions consolidations. Next 5 following Crucial Supports should be watched for pull back rally possibilities:-
1- 4786
2- 4692
3- 4539
4- 4353
5- 3919
Panic like sentiment today after all European markets 4% to 6% down closing and US markets more than 4% down trading at this moment, such negative closing today will mean crashing mood in Asian markets tomorrow and Indian markets will also not be spared as well as big gap down opening may be seen. As Indian markets are completely Bearish and selling seen below 5000 today also therefore above mentioned 1st support may be tested also in the coming sessions.
Above Bearish views are not being given after crashing US markets but weak markets and more down moves were clearly told 3 times in the Blog during trading hours Outlooks and anybody can verify anytime. Bearish markets are on and Pull Back rally will be considered only after Panic bottom formation or some sesions consolidations.
Whenever Nifty will consolidate near about any of above mentioned 5 Crucial Supports then Pull Back Rally will be considered.