Chetan Kumar
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January Nifty high Funda

Chetan Kumar at 09:30 PM - Jul 31, 2018 ( ) Views: 676

2 1

Nifty has closed above January High in July this year.

Hope now we will not close below 11172 this year.




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Vivek Bangale at 02:18 PM - Oct 12, 2018 ( )

Fellow Boarders ,

GA!!

Given the January( month high) pattern , Nifty seems to have fallen in Case 1 scenario ....

Just wanna add my 2 cents :

In the year 2012 , Nifty fell below the Jan high by 8.5 percent & then rallied a whopping 14 percent from Jan high by Dec.....

Coming to the current year , Nifty has already fallen 9 percent from the Jan high ..... If the data is to be believed , guess , the bottom has been made & Nifty is ready to rally towards 12K levels by December ....

Traders can buy 11500 Dec CE @ 40-45 zone ( as per risk taking appetite) & stay put ....

SL can be kept @ 10150 ( Closing ) & target @ 12K+

Regards

PS : In the current scenario , the above seems to be an impossibility but the market has a way of surprising / shocking us ...laughing

Chetan Kumar at 10:08 PM - Aug 01, 2018 ( )

Thanks Vivek, for your valuable feedback.

Your observation is worth to be noted, but at last we need to be cautious for any worth scenario and must not live in probability, else many fellow traders will start Gambling and later will lose their hard earned money.

Defenitely, these observations needs to be taken as Lamp post and to be used with other indicators for better results.

Vivek Bangale at 09:54 AM - Aug 01, 2018 ( )

Chetanji ,

GM!!

Firstly , thank you for bringing to our notice the above " funda " ..... 

Jst wanted to share some observation from my side :

Year 2012 :

In the month of May ,Nifty not only went below the Jan high of 5217 but also closed below it

Monthly low was 4788 & CLOSE was 4924

Although , Nifty did rally later towards 5700+ levels , thereby giving a return of more than 10 percent from Jan high......

 

Have looked into the data from 2013-2017 & have come to the following conclusion :

Case 1 ( Worst Case Scenario) : Nifty can fall below the Jan High anywhere between 3-7 percent & start its upward rally toward 11700+ by December

Low : 10500-10600

High : 10700+

Case 2 : Nifty does not CLOSE below Jan high on any given day & the rally continues making higher highs

Low : 11100-11230

High : 11700+

Case 3 : Nifty falls below Jan high by 1-3 percent & then starts rallying towards 11700+ levels .....

Low : 10850-10900

High : 11700+

Another observation worth noting is that Nifty rallies at least 5 percent from Jan high irrespective of any scenario which gives a target of 11730-11750 @ NS

Regards

PS : request fellow boarders to provide their valuable inputs

 

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