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Long Term Nifty Daily Chart - Bhikka Modi
| From : Bhikka Modi at 08:16 PM - Mar 10, 2010 (23 months ago) |
Nifty Daily Chart from 1-1-2006 to 10-3-2010....... analyse the chart & share your findings / opinions Chartist in particular
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The Copy Cats .......... can't find the Analysis of this chart .......so are mum on this..
Nifty Taken support at 200 MA weekly on July 2009 and 400 MA weekly on March 2009
Many gaps do not get filled for years. I do anticipate 3800-4000 levels again on Nifty, a 30% correction and then a rebound to levels from where we reverse from here. This uptend now will take longer then 2010 but I am gonna be a buyer for holds at around 4000. A friend of mine is still holing and rolling ICICI futures he bought below 400. He has made his kill on 2 lots (merged as 1 now). In end at times its best to remain silent and admire the beauty in front of us. (the chart)
Not many comments on this Nifty Charts........ people here i see waste so much of time on Unproductive things but here is something that needs healthy comments & different angle to look at & i can't find much ........ may be many on here just know how to RUN their mouth after hearing & copying from other sites & analyist........ here is a simple chart if you think yourself an chartist.....analyse the chart & share your findings..... OR The SO CALLED CHARTIST CAN'T FIND VIEWS ON THIS CHART FROM OTHER SITES & ANALYST SO CAN'T RUN THEIR MOUTH ON THIS THREAD
Mr Girish ....... i have studied Nifty chart closely of past 7-8 years & yet to find a Gap & definetly not as big as this 1 its almost (6%) Gap which did'nt get filled within 3-4 months after being created ...Nifty did Close Up 200 points Gap from 4100-3900 but turned from 3900 & i can't seem to find a Strong Support in that area so according to me unless 4500 gets Violated Decessively on the way Down sometime in this or next year we do not have to worry.... but if it did......i can bet you 3700 is definetly on cards
BM: U r right.
First time, I have seen a chart with crystal clear data
Even gapups are shown very clearly to know that this is the pocket, where max resistance will come on downside. Learning from u guys technical, and hope, u will keep guiding
Good job done ji.
The above Nifty Chart is very Simple to understand as the Support/ Resistance , Trend Lines all have been very clearly plotted........ Observe it carefully & you would'nt have to run & ask every other random people who call themselves Chartist....... i am not interested in catching the daily movement..... i am interested in Catching the TREND where Nifty is Heading.... Important to Note.... as India is no more confined market its more Vunerable to Global Factors most important according to me are US DOLLAR INDEX & DOW JONES but good for us that those 2 are Inversely Related which makes it simple for us . The Movement of those 2 factors also needs to be considered along with Nifty.
Excellent chart. Good presentation. Thx
DEAR BHIKKAJI,FIRST I WOULD LIKE TO INTRODUCE ME AS A NEW MEMBER OF MUDRAA.YESTERDAY I WROTE TO GOPINATHJI THAT MY TECHNICAL VIEWS CONFIRMED ME THAT FOR TODAYS NIFTY WILL NOT BE ABLE TO CROSS THE CRUCIAL LEVEL OF5250-5260(BY CLOSING). AS A RESULT IT CLOSED AROUND 5245.IF THE LEVEL OF 5250-5260 CAN BREAKS DUE TO FII PARTICIPATION THEN THE NEXT TARGET OF NIFTY IS 5310 WHICH MAY COME BEFORE MARCH EXPIRY.IF MY OPINION DO NOT AGREE WITH YOU THEN PLEASE FORGIVE ME FOR MY COMMENTS. THANKS A LOT.
If you are asking for target of Nifty over the next few months then... immediately say arround 5430 and longterm say arround 5800 over a period of 9-12 months... this is a rough calculation and may not be accurate... It all depends on the Nifty movement henseforth... This is my personal openion and may be wrong.... Further views are invited...
well gann analysis may provide more clues... However I am still learning about the same and not yet to the level where I can use it perfectly...
Dear Bikkaji, I may be wrong.... Nifty is made up of a number of stocks and is dependent on their movement.. So usually nifty does not take support or resistance on any moving averages or Fibbonachi levels exactly... most of the time there will be difference in the technical suppots and bottoms made by Nifty... Clasic example was when nifty bottomed at 4675 when the 200 day moving average was 20 points lower... Gaps may or maynot be filled up and as such have very little significance in Tech Analysis other than in intraday....
Mr Syam.....Sure Charts follow the Nifty as Stock Market has its own mind & yea Long Term chart is 1 of the few indicators That can Forecast the coming Trend of Nifty.... there is nothing that can project the movement of Stock Market 100% correctly but.....if you started to count what would come the closest...it would be Charts ^_^
Charts follow NIFTY,not the reverse,Bhikka ji
...Charts can be just one of the many indicators but not a confirmed data...
These are just my observation, it may be wrong 1. Volume is lesser than the earlier rise 2. Rising wedge is forming- it would favour Bears, unless it crosses 5210 resistance level, to change the trend. 3. Already near 63 retracement level.
Nicely done chart,Bhikka ji!!
Technically RSI is overbought....5150-5180 becomes the right shoulder as you show in this chart...also 5150-5180 is the level for 20ema crossing 50 ema from below for a confirmed bullish trend...
So 5150-5180 is a major hurdle to cross...
Anyway,most traders are still in the hangover of that 12% correction to 4670...They are still shorting for 4900 level...By the time,they wake up,FII would have started selling again at higher levels after buying from 4670...This is the game happening since march 2009...
Atleast for another three months,we will see a correction of 5 to 6% only...This is the new NIFTY,periodic larger correction of over 8% happens once in three to four months only if you watch the recent charts....For example...March 2009,July,October,January 2010....What they make use of is the hangover of a crash for traders like us...In one or two months,we will see everyone hurrying to buy when NIFTY is at 5400...and you know what will happen...The game will continue...
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