SENSEX VIEW FOR SHORT TERM

Finally Momentum trend line in sensex will break? Nifty view we have mentioned earlier now time to do some analysis of sensex . Nifty below 4345 will keep creating pressure. If this momentum line is not holded we feel we can see 12700-800 levels soon .Expiry is near so we cannot do this in one go but Danger will be breaking the momentum line .

Regards

Niftytreads TEAM

NIFTY VIEW 18 JUNE

We have yesterday posted chart and showed -ve divergence which pulled market down. Now all have same question in mind are we moving down to see 3900 levels ? This small so called bull market ended ?

What we feel is this fall has to come as many indicators showing -ve divergence and where not able to move up. Yesterday if anyone tracked Yen has also fallen 1.3$ and so sentiment was negative from morning itself . If you watch crude you will see if bounce back which show bulls still alive and will take all opportunities to save their goal post.

Now our view is any bounce which has to come should come here and we should hold 4345 on closing basis .We will suggest buy on dips here with stoploss below 4300.


Regards

Niftytrends Team

Nifty update 17th June 2009

It has been a long time since we posted charts. We have seen markets zooming up in this time. Currently Nifty is in a rising channel and has experienced channel resistance. There has been some negative divergences in daily chart. We have to see if Nifty sustains above 4300 and moves up. If not we can see it drifting to lower levels. So aggressive short only below 4300 till then mantra is buy on dips .Budget also coming up, so keep tight stoploss and trade accordingly.

Regards
NIFTYRENDS TEAM