Technical Analyst's Blog » Daily Calls http://www.trade.hashcod.com The Calculated Game Mon, 05 Jan 2009 09:50:19 +0000 en hourly 1 http://wordpress.org/?v=3.0.1 Nifty Analysis for June 2008 http://www.trade.hashcod.com/2008/06/nifty-view-based-on-technical-charts-till-22nd-june08/ http://www.trade.hashcod.com/2008/06/nifty-view-based-on-technical-charts-till-22nd-june08/#comments Fri, 06 Jun 2008 21:34:18 +0000 prashant.singh http://www.trade.hashcod.com/?p=45 NIFTY View

7th June 2008

On Friday US market was down about 3%. Crude Prices at all time HIGH.

Inflation above 8%

Technically NIFTY broke its long term Trend Line(Both on Weekly and Daily Charts) – Bearish

MACD Shows Bearish Signal

RSI (Relative Strength Index) Just above 30 – Bearish

STC (Stochastics) %K line crossing above %D Line – Bullish

Daily Pivot (Only For Monday)

R2

R1

Pivot

S1

S2

4794.83

4711.32

4662.78

4579.27

4530.73

Weekly Pivot

R2

R1

Pivot

S1

S2

5062.97

4846.43

4692.97

4476.43

4322.97

R – Resistance, S – Support


NIFTY Daily Chart

Monday will be a crucial day for NIFTY, if its sustains above its pivot i.e 4662 and above 4692 this week then we can see 50% retracement of the recent downfall (May 16th to June 6th 2008).

And its Resistance will at 4843.15

In long term any turn downwards from 4843 can bring NIFTY to 4188.90

And in case if it sustains above 4900 on closing basis then and only then we can think of some good target for NIFTY upwards.

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