Weekly Outlook(Dec 19 to Dec 23,2011)
Technical Analysis and Research of EOD charts,Micro Analysis of Nifty Intra Day Chart,Technical Positions,next possibilities have already been explained in following topics with 3 Charts therefore not being repeated. Just click following topic links and go through detailed analysis for trading in nexr week:-
1-25 Months Trend and Waves structure Failure on 16-12-2011
2-Trend Reversal Broadening Pattern is Intact
3-Bounce back Possible Next Monday
Conclusions (After Putting All Studies Together)
Nifty closed at the lowest of 13 months correction as well as 25 months lowest closing seen last Friday. As trend reversal Broadening Pattern formation in last 89 Sessions at the bottom of 13 months correction and it is still intact therefore up moves hopes after correction completion are still alive.
Previous bottom was at 4640 and NIfty closed above it last Friday therefore more confirmations are required for heavy break down below 4640 and either forceful breaking of 4640 or sustaining below 4640 will be huge down fall confirmation.
As sharp fall last Friday and indicators are showing positive divergence therefore Indian markets may bounce next Monday and Indian markets will firstly give confirmation of next moves through sustaining beyond 4640 and then Next big move will be seen.
Confirmation through sustaining beyond 4640 is firstly required in the next couple of sessions and next week final moves will be seen according to sustaining beyond 4640..
Technical Analysis and Research of EOD charts,Micro Analysis of Nifty Intra Day Chart,Technical Positions,next possibilities have already been explained in following topics with 3 Charts therefore not being repeated. Just click following topic links and go through detailed analysis for trading in nexr week:-
1-25 Months Trend and Waves structure Failure on 16-12-2011
2-Trend Reversal Broadening Pattern is Intact
3-Bounce back Possible Next Monday
Conclusions (After Putting All Studies Together)
Nifty closed at the lowest of 13 months correction as well as 25 months lowest closing seen last Friday. As trend reversal Broadening Pattern formation in last 89 Sessions at the bottom of 13 months correction and it is still intact therefore up moves hopes after correction completion are still alive.
Previous bottom was at 4640 and NIfty closed above it last Friday therefore more confirmations are required for heavy break down below 4640 and either forceful breaking of 4640 or sustaining below 4640 will be huge down fall confirmation.
As sharp fall last Friday and indicators are showing positive divergence therefore Indian markets may bounce next Monday and Indian markets will firstly give confirmation of next moves through sustaining beyond 4640 and then Next big move will be seen.
Confirmation through sustaining beyond 4640 is firstly required in the next couple of sessions and next week final moves will be seen according to sustaining beyond 4640..