1.every new High is the intake of the buyers taking profit at the new highs. it is clearerly seen in nifty 15mins chart, the last hour consolidation make the caution in nifty that
selling may persist futher if it is not able to sustain above 18788.
2. we may also seen trend change in the nifty next month if the close this week is negative
It is observed over the historical data of nifty, if it makes a new high and corrects by 20% it reverses towards a breakout with previous 52 week high and creating a new high in over 12-18 Months. The rally is already at its peak of 18 Months.
What are your views on this theory. Do you think the rally would continue or the correction would pull the markets further down?
Gold may have completed a yearlong triangle consolidation and has broken upwards. It is now in its 2nd day outside of a downward sloping trendline. Wave e is around 1721, with this as a stop we should expect a rally to new highs. Silver is already showing strength as discussed in the earlier post. Gold may be joining the upmove now.
Simple positive reverse divergence.
While the world is thinking of crash, I am of the opinion that DJI will not only move up, but it’s also up to make a new high. White line is the Target.
This is just a chart pattern discussion. Please trade your hard-earned money on advice of a registered stock market expert. I am a newbie trader :)
Nifty View: Seventh consecutive positive daily close from the benchmark Nifty with today’s 40 points up move. Yesterday's “Shooting Star” pattern in the intra-day charts played out at the first half of today’s trade followed by a high-momentum bounce back and we are now back to yet another new life-high. Now, it's these kinds of days that start to create...
Nifty View: Momentum continues beautifully as the benchmark Nifty scaled further heights like a breeze. No intraday volatility and not much over-head resistance either was observed in today’s session. Two successive positive weekly closes from the index now with a gain of over 700 points. A psychological level of 16,500 was met in today’s session and so early...
Nifty View: Benchmark Nifty index shows momentum in today’s session to break beyond the recent consolidation and post a new life high. An up move of 75% or 0.46% sets in fresh momentum and positive sentiment amongst the “Bulls”. Yes, price-momentum divergences do still exist in the intraday charts, but, so far, such a divergence has proven to be more of a...
Price if breaks the resistance 14550 and sustains above then there is a definite chance for the price to reach new ATH levels.
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Euro against Dollar seems to take off by the bulls in the first week of May , Last month of April the price was almost moved in sideways and its top and bottom not exceed or decreased .. month high were 1.09 and month bottom were 1.076..
New month expects the pair breaks out of this area and may touches the old resistance stays over the years at 1.14
Stock has broken out of falling trend line couple of days back. After that breakout price has came down two times to retest that breakout area and hold in both attempt. Now, seems like this time stock may create new high very soon. We are expecting 15% to 18% more appreciation in price.