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Tuesday, May 24, 2011

Free Stock Market Tips On Mobile


In nutshell, Nifty Stock Market , after achieving the pullback targets of the bearish pattern i.e. 5510 resumed its downward journey towards 5350-5325 which may be achieved soon. However, Nifty Stock market is oversold & ripe for technical recovery to 5425 & above. 

From the charts it appears that Nifty is heading for 5000 in coming weeks & any pullback will invite profit booking unless Nifty manages to close above 5500 for 2 consecutive days which may negate the short term bearish outlook of the market.  The best strategy is to liquidate stocks which have already given breakout from medium term bearish patterns & concentrate on oversold stocks which have declined sharply & ripe for technical recovery in coming sessions. (From 5T-230511)

MARKETS FOR 25TH MARCH FOR FRIDAY 25TH MARCH THERE IS ABSOLUTELY NO CHANGE TO OUR HIGHLY BULLISH OUTLOOK WHICH IS GIVEN UNDER FOR 24TH MARCH & 23RD MARCH . EVEN THOUGH NIFTY HAS GONE UP FOR FOUR CONSECUTIVE DAYS FROM MONDAYS LOW OF 5348 TILL THURSDAYS HIGH OF 5529 & IS MUCH ABOVE LAST WEEKS CLOSING LEVEL OF 5373, YET NIFTY STILL HAS A LOT OF STEAM LEFT IN IT FOR FURTHER UP MOVE.

EVERY INTRADAY NIFTY STOCK CORRECTION TOWARDS 5500 OR TILL THURSDAYS GAP FILL POINT OF 5480 SHOULD BE USED TO BOLDLY BUY AND HELD FOR GREAT GAINS. THERE IS ABSOLUTELY NO FEAR FOR THE BULLS AS LONG AS SPOT NIFTY SUSTAINS ABOVE 5454 & ANY SLIDE OF SPOT NIFTY TOWARDS THIS CRITICAL SUPPORT OF 5454 SHOULD BE BOUGHT WITH A QUIT POINT BELOW 5454 TO REVERSE THE TRADE IN FAVOR OF SHORTING ONLY BELOW SPOT 5454 LEVELS.

IN CASE SPOT NIFTY STOCK MARKET CROSSES AND SUSTAINS ABOVE 5537, THEN IT WILL SHOOT PAST NEXT RESISTANCE OF 5563 TO EYE FOR THE PSYCHOLOGICAL 5600+ LEVELS OR EVEN MAY CROSS 4TH MARCH HIGH OF 5608 TOWARDS MUCH HIGHER LEVELS NEXT WEEK . 

FAILURE ON THE PART OF BULLS TO TAKE NIFTY PAST 5537 AND SUSTAIN ABOVE IT MAY SEE BEARS COMING IN FULL FORCE BUT THESE BEARS ARE SO BADLY CRIPPLED THAT THEY MAY NOT BE IN A POSITION TO OVERPOWER THE BULLS TO PUSH THEM BELOW THURSDAYS GAP HIGH OF 5500 TO 5495 LEVELS. ALL THE BULLISH TECHNICAL ASPECTS GIVEN UNDER FOR 24TH & 23RD MARCH REMAIN UNCHANGED FOR 25TH MARCH. 

MARKETS FOR 24TH MARCH STOCK MARKETS ARE MOVING EXACTLY AS PER THE PREDICTIONS SINCE MONDAY 21ST MARCH. IF ONE RECOLLECTS, NIFTY LAST WEEK HAD MADE A HIGH OF 5537 LOW OF 5366 AND HAD CLOSED THE WEEK AT 5445. THIS WEEK NIFTY STOCK HAS ALREADY BREACHED LAST WEEKS LOW OF 5366 TO REACH TILL 5348 ON MONDAY. 

HAVING BREACHED LAST WEEKS LOW ON THE FIRST TRADING DAY OF THIS WEEK, THERE IS EVERY POSSIBILITY OF NIFTY MAKING AN ATTEMPT TO TEST LAST WEEKS HIGHS OF 5537 FAILING WHICH IT WILL AT LEAST MAKE AN ATTEMPT TO CLOSE ABOVE LAST WEEKS CLOSING OF 5445 TO KEEP THE CARROT HANGING FOR THE BULLS FOR A GOOD START TO THE EXPIRY WEEK OR APRIL MONTH TO MOVE UP AND BREACH THE EARLIER WEEKS HIGHS OF 5563 FOLLOWED BY 5608.

AS WAS MENTIONED EARLIER AND ALSO CAN BE SEEN IN THE HOURLY CHART ABOVE, NIFTY IS STILL CONFINED WITHIN A DOWNWARD SLOPPING CHANNEL THE UPPER SIDE OF WHICH IS FORMED BY JOINING 9TH MARCH HIGH OF 5563, 16TH MARCH HIGH OF 5535. NIFTY MAY MEET THIS UPPER CHANNEL ON AN ATTEMPT TO MOVE UP TOWARDS 5500. 

THE LOWER CHANNEL IS FORMED BY JOINING 7TH MARCH LOWS OF 5408, 15TH MARCH LOW OF 5373 . INTRADAY NIFTY HAS ALREADY TESTED THIS LOWER CHANNEL ON 21ST MARCH LOW OF 5348 & HAS BOUNCED BACK TOWARDS THE UPPER CHANNEL PERHAPS TO ENCOUNTER IT AROUND 5500 LEVELS EITHER TO SHOOT PAST IT TO ENCOUNTER THE NEXT RESISTANCE AROUND 5335 FOLLOWED BY THE EARLIER WEEKLY HIGH OF 5563.

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