Monday, August 13, 2012

Nifty Views - 13.08.2012

Dear All,


>Click the chart to see in full screen<

Nifty bounced today on the later party of the trade with almost doubling its premium with out any strength on MACD. As wrote already 5386 should decide the trend.

Now the above chart explains how the downfall has been counted. For clarity i have given 5 min chart. Fall upto 5194 completed wave 1 and a retrace for sub 2 as abc is marked, a possible move upto 5366-73 should be marked as 2.

I think Nifty should fall from there with high intensity selling for wave 3. above 5386 this count invalid.


Many queries to me on messenger and email about SBIN after seeing weekly review. So Im updating the Latest chart with my view

>Click the chart to see in full screen<

As per above chart - its clear that SBIN on good support Zone - as its over sold and need to retrace - should move up to 1913 and 1947 - where it can start sliding once again. If start sliding as given may fall upto 1890 / 1837 and 1768 may be even 1680 in worst case sooner or later.