Nifty Halts..

Is it a halt ? Evidences in short term indicates fatigue (Negative divergences). May not fall like a water fall..but selling can be expected at higher levels..
1)Daily stochastics has turned down. Daily ist target of 100 DMA (4615) reached.
2)Hourly Roc, Macd, Rsi are showing negative divergences and trading below hourly high/low ema
These negative divergences has not yet taken effect in prices.

And market has not given a decisive sell in the Daily. So Nifty can take immediate supports at about 4494 or 4475 and bounce intraday in search of continued buyers and may meet resistances at higher levels. Only a close below 4450 will trigger a sell in daily.The trading range can be 4475 to 4590.Keep booking profits.

Nifty nearing 100DMA

We are nearing overbought area for the short term. Book part profits above 4600 levels.
OR Ride this upmove by keep monitoring the 5 Day High Ema's (Currently at 4433, may move upto 4468 for 06.08.08).Uptrend Intact.Market can stay in overbought levels till individual stocks catch up with the index. NO SELL SIGNAL YET. STAY LONG

Nifty hesitates..

As per Daily charts, the uptrend is intact. Any fall towards 4335 should be used to buy.
Hourly charts show some hesitation.Hourly candles show selling above 4400 mark.Only a hourly close above 4400 will bring in the momentum. So for very short term, we will watch the channel bottom which is approximately 4320 to 4340(This level increases as the day progresses). Only a close below 4325 will warrant caution.
Stay Long.

Incredibly Reliable Chart

The above chart clearly indicates the Moneyflow going into Indian stocks compared to other world markets. A break above 15000 appears certain.

Nifty in August..

Momentum has come into Nifty especially on a Friday will facilitate a smooth run up to higher levels. Just play along.

Any kind of feedback contrary or otherwise is appreciated highly.

Nifty's High & Low Ema's for Trading.

As you can see from the Table above, Nifty's ema of "High", "Low", & "Close", have given good entry, exit, Resistance, support points. Same may be applied to Weekly for Investment purposes.

Nifty's struggle..contd..

After viewing the world markets, the scenario emerges as two possibilities..

PREFERRED:-
1)Market corrects towards 4250 to 4260 as wave "2.c" or "c of B" and move up latter part of the day or from Monday.

ALTERNATIVE:-
2)Market does a Zigzag with 4534 to 4159 as "a of B", 4159 to 4342(or higher) as "b of B" and goes down below 4159 towards 4100 levels(61.8%) as "C of B" and then starts its "C"(or 3rd) up from there on.