NIFTY positional view: First 4500 then 2500 Bottom to test then Bull flag patter formation for target of 10100 and 11700 level CMP is 5340
NIfty base 1 starts from 900 and base 2 starts from 2500 where i am looking at Bull Flag Pattern with Base 1 and ecpected to test 2500 flag base. point D @ 2500 and then uptrend will continue. Where Breakout will be seen 6300 with target of 11700 in 10 years time by 2024 - 2025. Befor looking at higher target lower level are confirm with 2500 by 3nd or 4rd Quarter of 2014.
Rupee i am looking at 78 - 80 in near to medium term..
NIfty base 1 starts from 900 and base 2 starts from 2500 where i am looking at Bull Flag Pattern with Base 1 and ecpected to test 2500 flag base. point D @ 2500 and then uptrend will continue. Where Breakout will be seen 6300 with target of 11700 in 10 years time by 2024 - 2025. Befor looking at higher target lower level are confirm with 2500 by 3nd or 4rd Quarter of 2014.
Rupee i am looking at 78 - 80 in near to medium term..
2 comments:
Trading Call: Sell at the level of 5300 Target of 4500 - 3800 – 3200 – 2500 levels.
Nifty we look at positional chart from year 2002 onwards where it was trading at 900 levels from there the rally was started and slowly and steadily it tested the level of 6300 in year 2008 starting. In the same year we have seen a massive selling from the all time high and tested the lower level of 2500 looking at the crises in the market. It remain at this lower level of 2500 for 2008 year end and first quarter of 2009 and again market picked up a rally and tested all time high of 6300 but failed to cross the same where profit booking was seen. This profit booking from 6300 brought down to test the level of 4500 where value buying was seen which again brought to 6200 just below all time high.
Looking at the chart it is forming Two Bull Flag Patter Formation tagged as Base 1 and Base 2.
Base 1: Bull flag pattern difference is 5400 points
Base level of flag is seen at 2500 Nifty any trade below 3000 or 2800 will be expected entry level as one should not wait for precisely 2500 Nifty.
Breakout of Bull Flag pattern is seen at 6300
Expected Nifty target at 11600 levels in period of 10 years by 2024 – 2025.
Base 2: Bull flag pattern difference is 3800 points
Base level of flag is seen at 4500 Nifty
Breakout of Bull Flag pattern is seen at 6300
Expected Nifty target at 10100 levels in period of 10 years by 2024 – 2025.
Nifty if we look at the Pattern formation its getting strong reversal from 6200 level of closing basis and if sustain trading is seen below 5500 will test it straight to test the next rock bottom support level of 4500 where previous 2011 December bottom was seen and market reverted from the same level. If on weekly closing basis 4500 is sustain then might fall further where 3800 to 3200 is confirm and might also move to test the level of 2500 which was 2008 year end Bottom level. There is a high probability that market will take a small support at 4500 and a short bounce might be seen but if the same is broken then 2500 is nowhere in medium term.
Sir Whats the timeframe for your positional target of 4500?
Post a Comment