Reliance Daily chart 4/10/10

Reliance is showing a good pattern formation. It has bounced from important supports. It will face resistance around 1040 above which it can do well.

Power Stocks Will Power Nifty To New High?

Power Stocks : Bhel if crosses 2520-40 range and give 2 close will see 300 move in no matter of time .


Regards

Nifty trends Team .

Dow !!! Gold !!! Silver !!!! Sensex !!! No weekness

Market View: We have shown in last chart that there is a Ghost pattern in CCI and also told that downside will be limited due to high openintrest . Markets firmly followed charts and were in tight range with positive bias.

We have been seeing rise in Dow ,Gold , Silver , Sensex and no panic that suggest . any topping movement .Just ride momentum with proper sl .


Regards

Niftytrends Team .

Ghost pattern on CCI

Ghost pattern shown in above chart if we not cross recent high soon we will go in small correction . But seeing open intrest in calls we feel market will try to be in this range before correction till expiry .

Regards

Nifty trends

Fussion !!! Confusion!!!! ya Delusion!!

Both charts have some resemblance and they speak themselves

Regards

Niftytrends

Range market IRRITATING ?

Market in narrow range everyone on street projecting themselves as smart traders .But this range will break soon in next 5 trading days . Getting to our old post we have projected dollar index in bull run and so did happened dollar index touch $88+ that was target .

There are some questions that making everyone think what to do? Last time when nifty was near 5400 world market was supportive Dow jones was above 10800. Now Nifty is near 5300 but Dow has corrected more than 1000 points , Is this justified ? What is holding Indian market ?

1. New Oil marketing policy

2 Ambani Brothers coming together

3 Less chance of Rate hike .

4. Expecting good result season of companies .

Comments are welcomed !!!!

Technical view :

Nifty : Breakout above 5346 will target 5410 ^ that new high.Till 5346 not crossed time to be carefull .5210 is immediate support for all falls .

BIG MOVE COMMING SOON!!! ARE YOU READY?

Hope readers of this blog got benefited from our last post about Bharti , REl and nifty . Bharti when world has sell!!! @ 270 we came out with buy with target of 320-340. Now every crab has buy here .

NIFTY rise was capped and around 4930 but nifty gained momentum giving 3 close above 4830 and result is infront of you .

http://nifty-trends.blogspot.com/2010/02/nifty-bharti-outlook.html

Rel once broke 1026 moved to 950 and till now 1026 not crossed and closed .

NPTC STILL CONSOLIDATING NEAR 202 levels need movement and pattern showed is voileted now move above 212 is reqd to follow it .


Time and again We are back but this time with some WORD OF CAUTION . Time to be light and wait for conformation of Breakout . If break out comes and we crosses 5333 our 6 month old target which we have projected at 4600 odd levels target can be 5700+. But and any break down from here we will get shoot down to one way near 4930 breaking of which will give downside momentum . ATTACHING SENSEX WEEKLY AND MOST TALKED $ INDEX CHART .


Regards

NIFTYTRENDS TEAM