Wednesday, September 25, 2013

Channel Broken on Nifty - 5852 saved on Intraday.

Dear All,


>>> click the chart to see on full screen <<<


Volatile killed. 5852 broken and saved on intraday. Price out of the channel. Price between 50 Hr ma and 100 Hr ma. We hit some Stop loss also. News flow like No Diesel price hike has increased the danger of CAD and news about 7th Pay commission from Central Govt. due to upcoming election has increased the danger of CAD. No doubt rupee may once again fall if all these are done by govt.

So flow of news makes Nifty with lot of extensions. Now for tomorrow 5890,5938 and 5977 act as a resistance. Support as mentioned above on chart. Lets See.

>>> Bank Nifty <<<

>>> click the chart to see on full screen <<<

Bank Nifty falling as abc-x-abc double zig zag. After completing wave x started falling for next abc. Today took support at 9912 which is 50% fib level. Lets see.

>>> ICICI BANK <<<

>>> click the chart to see on full screen <<<

ICICI BANK broken H&S like pattern after completing wave B. Now if stays below 932 should trigger more sell off. Lets see.