The current fall of Nifty may be wave 3 of C with the overall wave C target of 8100.
Monday, April 20, 2015
Nifty pre- May Mayhm !!
The Nifty pre-May mayhm was dected by us 5 days mack in our post http://eqtrend.blogspot.com/2015/04/nifty-update-abc-correction.html when Nifty was trading at 8850 levels. In the last 4 trading sessions Nifty has given up 400 points in one of the steepest fall of 2015. The fall has negative correlation to the the rise of Shanghai Composite which seem to be attracting FII as they continue to book profit here at higher levels.
The current fall of Nifty may be wave 3 of C with the overall wave C target of 8100.
The current fall of Nifty may be wave 3 of C with the overall wave C target of 8100.
Shanghai on path to Retest 6000 ???
Shanghai Composite Index has risen a whopping 28% from well below 3400 when we predicted a breakout in March to 4350 at present. The Synchronized Bullish Alignment pattern formed on Triple Trend Oscillator (TTO) correctly predicted the rapid rise in the Chinese indices and the best performing market in the near term.
http://eqtrend.blogspot.com/2015/03/a-new-bull-in-china.html
Though Shanghai has risen 28 %, as seen from the following weekly chart, TTO has formed pattern similar to the one that was formed during 2006-2007 indicating that the Chinese bull run is likely to continue for sometime and the Shanghai Composite is likely to test the previous high of 6000 in the medium term.
http://eqtrend.blogspot.com/2015/03/a-new-bull-in-china.html
Though Shanghai has risen 28 %, as seen from the following weekly chart, TTO has formed pattern similar to the one that was formed during 2006-2007 indicating that the Chinese bull run is likely to continue for sometime and the Shanghai Composite is likely to test the previous high of 6000 in the medium term.
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| Shanghai Weekly Chart |
Wednesday, April 15, 2015
Bullish on China : Goldman Sachs
Goldman Sachs has is bullish on China as per view expressed by Jim O'Neill, former Chairman.
In our post A New Bull in China dated March 18,2015 we had indicate the possibility of a new bull market in China and a corrective/consolidation pattern emerging for the Indian markets.
In our post A New Bull in China dated March 18,2015 we had indicate the possibility of a new bull market in China and a corrective/consolidation pattern emerging for the Indian markets.
Nifty Update : ABC Correction ??
Nifty cracked today after a retracement from 8280 levels giving a possibility of a A-B-C correction with the impulsive move today indicating the start of wave C. A close below 8745 will confirm the move.
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| Nifty Weekly & Hourly |
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| Nifty Daily |
Monday, March 30, 2015
Analysing Nifty Trend under Multiple Timeframes !!
The following is the analysis of CNX Nifty under different time frames :
The 15 min chart below shows Nifty retracing in the short term with the short term TO positioned above the 15 min TO indicating the short term strength or short covering before the long holidays coming during the week. This is extremely short term view as the longer TO are in a bear grip as explained in the following charts.
The hourly chart below shows that the short term TO have reached reversal zone and not much upside may be expected hereon unless there is a trend reversal. All the TOs continue to trend below zero which is bearish indicating a downside soon.
The daily chart below shows all the trends in bearish mode and gap between them still widening indicating the strong downtrend will resume. This will continue till the chart repair themselves in the form of the short TO rising above the longer TO/ above zero and remaining there for an extended period.
The weekly chart below shows the oversold position of the market as the trigger line languishes at the reversal zone but the reversal may come only after the final assault at 8100 as indicated by the bearish position of the short term charts above.
And finally, the monthly chart which is indicating the trigger line crossover below zero after a period of almost 18 months when it crossed over during October 2013 as a prelude to the bull market. This does not however, pose any threat to the bull market as the other TOs continue to be in bullish mode above zero. However, as happened during the previous occasion as seen in the chart, it may lead to a sideways market for the next couple of months with a range of 7800 to 9100 till such time that the monthly 20 EMA catches up with the price. This will be good period for traders to trade in a well defined range.
The 15 min chart below shows Nifty retracing in the short term with the short term TO positioned above the 15 min TO indicating the short term strength or short covering before the long holidays coming during the week. This is extremely short term view as the longer TO are in a bear grip as explained in the following charts.
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| Nifty 15 Minutes |
The hourly chart below shows that the short term TO have reached reversal zone and not much upside may be expected hereon unless there is a trend reversal. All the TOs continue to trend below zero which is bearish indicating a downside soon.
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| Nifty Hourly |
The daily chart below shows all the trends in bearish mode and gap between them still widening indicating the strong downtrend will resume. This will continue till the chart repair themselves in the form of the short TO rising above the longer TO/ above zero and remaining there for an extended period.
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| Nifty Daily |
The weekly chart below shows the oversold position of the market as the trigger line languishes at the reversal zone but the reversal may come only after the final assault at 8100 as indicated by the bearish position of the short term charts above.
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| Nifty Weekly |
And finally, the monthly chart which is indicating the trigger line crossover below zero after a period of almost 18 months when it crossed over during October 2013 as a prelude to the bull market. This does not however, pose any threat to the bull market as the other TOs continue to be in bullish mode above zero. However, as happened during the previous occasion as seen in the chart, it may lead to a sideways market for the next couple of months with a range of 7800 to 9100 till such time that the monthly 20 EMA catches up with the price. This will be good period for traders to trade in a well defined range.
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| Nifty Monthly |
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