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Closing comments on Nifty

An impressive come back!

It has been an impressive come back by the bulls especially during the last one hour of today's trade. However two important questions remains unanswered. 1) Is this come back by the bulls enough for the gap down and break down of congestion zone created by bears this morning? and 2) Will bulls manage to close above 8322 today? Yes, I think today's closing is more important to chart out the next phase of move in nifty. Eagerly awaiting close and looking at the key level 8322.


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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