Detailed Nifty Analysis 06 June 09

Nifty Long Term Chart

Nifty Long Term Chart: As it looks clear from the chart, the long term bullishness of Indian markets is still very much intact. The earlier supports are now resistances. Stiff resistances.

See the effect of it

As and when R1 brokeNifty went to R2.

Meaning 6000 again??Conclusion from the long term chart basic analysis:1) The long term bullishness is still intact.2) The R2 4400 is now broken, though insignificantly, leading way towards R3.3) The R3 stands at 6000+

Nifty Medium Term Chart

Okay, fair point. That we have possibility of 6000+ going forward. But how can 6000 come?

Current upchannel of Nifty. The lower lineIs the support area.

Note the reverse triangle

Okay, so far so good. We have understood from the 2 animated slides that:

1)The long term bullishness visibly looks intact.2)The upside scope is till 6000+3)From medium term chart there is a stiff resistance at 4700 and a fair possibility that we hit around 4020 area going forward, and can have a bounce there.4)4020 a strong and ESSENTIAL support, breaking of which may lead to a panic reaction towards 3300 zone. That will be the first downleg of this upwave and if holds, we may be in for 6000.

Nifty is moving in a reverse triangle

Big GapThe parallel channel

The broken diagonal

The short term parallel channel

Nifty medium term detailed chart

Observation: Big gap is there, and Nifty is moving in a reverse triangle with 3 waves complete. Formation of possible parallel channels seen. Overall bullish.

Nifty Short Term detailed chart

The three lines

Way1: Nifty oscillates bw 4450 & 4700

Way2: Nifty moves abv 4700 and directly to 5200

Way3: Nifty moves to 4450 then breaks it, and moves to 4050.

But certainly a crash is 4000 breaks!

Conclusion from short term chart: Can move 1 three different patterns as marked. Can crash if 4000 breaks

Conclusion looking at the long, medium and short term movements:

Nifty is bullish. Though we expect to move between 6000 to 3800 for the years to come till US gets bullish again. It has a fair chance of 6000 from a long term view, but in between by the medium term resistances, a good fall looks fairly possible. If 4700 breaks now, we are in for a straight upmove till 5200, else we may see 4450, which is decisive. If breaks, we may see 4050 again and if that breaks, Nifty may crash. But it appears highly probable that after a dip, we can fasten our seatbelts for 6000. It may take a while though.

About Us:

We “predicted” the kind of movements when nifty was on 2300 2500 band, and when all were bearish for 1800, 1000 whatever, we were bullish. We are not just saying it now, we made full graphic presentations to show that, and published for all. Our readers and subscribers have benefited a lot from it.

And the biggest achievement we have is that during the bullish days, we had projected a tgt of 6354, and also said that if it didn’t cross, we are in for 5900-5500-5100-4400. We made a detailed presentation, fwdd to our readers, clients, communities and messengers! Noticably, we bought 5900PE when Nifty was lifetime high, and 5250 (the lowest available put at 5rs premium) and sold at whopping 700!

These are the facts, and we do not intend to boast about anything. There are more than 8500 readers, who are also the beneficiary and witness to the same!

See how precisely we advised, and we even sketched the forward chart…

And see the future movements indicated by grey and red. You can read the complete report at the Nifty View page.

The actual chart… It is an old chart. Now Nifty is around 4600+

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