Technical Analysis and Research
Nifty-EOD Chart(13-Sep-2011):-
1- 10 Months Bearish market
2- 94 Points Gap on 05-08-2011
3- 25 sessions range bound markets between 4720-5229
Conclusions
All trends are down and Indian markets are slipping for the last 10 months. Nifty opened 94 points gap down on 05-08-2011 and since then 25 sessions range bound markets between 4720-5229.
Markets always require completion consolidation for any rally after such big fall. Big rally started in March 2009 after lower level 5 monthe range bound consolidations. As range bound markets signals are emerging between 4720-5229 therefore this range break out will decide that 10 months long long term correction is over or not.Investment decisions,long term positions and Portfolio management should be done according to break out of mentioned range.
Nifty-EOD Chart(13-Sep-2011):-
 |
| Just click on chart for its enlarged view |
Technical Patterns and Formations in EOD charts
1- 10 Months Bearish market
2- 94 Points Gap on 05-08-2011
3- 25 sessions range bound markets between 4720-5229
Conclusions
All trends are down and Indian markets are slipping for the last 10 months. Nifty opened 94 points gap down on 05-08-2011 and since then 25 sessions range bound markets between 4720-5229.
Markets always require completion consolidation for any rally after such big fall. Big rally started in March 2009 after lower level 5 monthe range bound consolidations. As range bound markets signals are emerging between 4720-5229 therefore this range break out will decide that 10 months long long term correction is over or not.Investment decisions,long term positions and Portfolio management should be done according to break out of mentioned range.