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A quick note for 21/08/2015

Good Morning!

Am going to keep this short, as there is no major change in the daily chart of Nifty. Still struck within the congestion zone, Nifty might break out of the zone at the earliest. On the backdrop of global melt down the previous night, this seems more likely as this could be the trigger to get nifty out of this zone. Once the break down is confirmed, we will start discussing possible levels in Nifty. Keep a close watch on 8120 as this could be first likely target on downside. Do check back this weekend as we are going to start classroom on technical analysis.

Bears are more likely to overpower if we see a negative close today. Am going to do a quick wrap up at 3.15p.m. today, in order to help you decide to stay long or short in the market.

Happy trading!


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An in-depth analysis on Nifty

Bottom Line : We are in last leg of the first correction of our multi month Bull Run. We will not enter Bear trajectory until Nifty breaches and close below 6580 for three consecutive days. Good Morning! Just now the DOW closed, closed with big gains however closed this quarter on a losing streak. As some of you know, I analyse and trade DOW more than any other market. Let’s get into business. Am going to keep this post a bit longer. As we move towards a longer weekend, let us do the analysis bit deeper. Am going to take you through how a real analyst go through a chart with minute observations to arrive at some conclusion. It would be boring for some who doesn’t want to learn how to make money. It’s going to interesting for those who want to understand how a technical analyst observes a chart.   Firstly, let us pull up the longer term picture of Nifty – the monthly chart. Nifty – Monthly We can easily identify the long term upward sloping trend-line