wwannabebull

wwannabebull

What I said last week was that not much can happen during holidays. And not much happened. Now the following is my analysis for coming week: SGX has breached 18000. The question is – is that breach sustainable? There is upside possibility for another 100 points but then there will be a pullback. Overall, the weekly candle should not go anywhere. Scenarios for...

wwannabebull Updated 

What I said last week was that I was clueless about Nifty’s direction. Nifty though did not have that problem. It moved up steadily. Now the following is my analysis for coming week: There is no analysis. It is Diwali and this is going to be a 3-day + 1-hour week. Not much can happen during such a short and weird timeframe. My worry is that the muhurat trading...

wwannabebull Updated 

What I said last week was that I was clueless about Nifty’s direction. It turned out that Nifty too was clueless as its weekly candle made big wicks but small body. Now the following is my analysis for coming week: This is going to be the 3rd consecutive weekend when I continue to be clueless about Nifty’s direction. This is nothing new though. It is always the...

wwannabebull Updated 

What I said last week was that Nifty should consolidate. This is not what happened, as Nifty stayed bullish. I did not have much clue and wasn’t sure on the prediction anyway. Now the following is my analysis for coming week: Well, I am still clueless. Had it not been the big down move at Dow Jones, I would have voted for a green week. Now the start of the week...

wwannabebull Updated 

What I said last week was Nifty should not be able to go below 16800 . This is exactly what happened, except for maybe 20 odd minutes. Now the following is my analysis for coming week: RBI saved the day or rather week. It is too early to say that the downtrend has stopped. I cannot judge that until the end of this week. There needs to be more price action or...

wwannabebull Updated 

What I said last week was that I expected consolidation. Nifty pretty much did just that. It rose till my red resistance line and then fell. The fall on Friday though was a tad too much. Now the following is my analysis for coming week: Yes, there are a lot of parallel channels on the chart. But I am most interested in the purple channel. With the recent price...

wwannabebull Updated 

What I said last week was that the expected breakout should be bullish and Nifty may then move upward with more momentum. Though Nifty did give a breakout in upward direction, it somehow got resistance absolutely precisely at the red line which I drew. It eventually went below the pennant formation almost on the same day when pennant lines were intersecting. What...

wwannabebull Updated 

What I said last week was that it will be difficult for Nifty to breach my purple and red channels. This turned out to be completely wrong. Though Nifty did face troubles around purple channel, it eventually managed to keep its candles above the channel by end of week. Now the following is my analysis for coming week: No matter how much I wish, Nifty continues...

wwannabebull Updated 

What I said last week was that the weekly candle will have a thin body. This turned out to be completely wrong. The big green candle on 30 Aug came out of nowhere. Now the following is my analysis for coming week: There is this big purple channel, which primarily gives impression of Nifty being in a downtrend. For the last couple of weeks, Nifty raised its head...

wwannabebull Updated 

What I said last week was Nifty did not have enough momentum for a sharp down move. This turned out to be correct. Now the following is my analysis for coming week: I am writing this after looking at today’s open (I didn’t get time on weekend). So, there is nothing much to write. The heading says it all. Scenarios for the week ahead (highlighted as yellow box...

wwannabebull Updated 

What I said last week was that I Nifty momentum indicators are exhausting and Nifty shall begin descent if stochastic does not go above 98.72. This turned out to be correct, though it took the whole week to be correct. Now the following is my analysis for coming week: Nifty cannot go up. At best, the rise can be till 18125 just to make a higher double top. The...

wwannabebull Updated 

What I said last week was that I would not be surprised if Nifty breaches 17500. I was wrong as Nifty went even past 17700. Now the following is my analysis for coming week: Nifty momentum indicators are exhausting. It is not really visible on this chart. The 13-day stochastic can be considered to be showing weakness if it does not go above 98.72 in next 2...

wwannabebull

What I said last week was that the Nifty’s target is 17450 and then it should flip to 4-EMA. This is exactly what happened. Now the following is my analysis for coming week: With such a mammoth uptrend behind it, a correction is expected but magnitude will be small at least this week. In fact, I would not be surprised if Nifty breaks its recent swing high to go...

wwannabebull

What I said last week was that the Nifty should find support around 16450 which is a Fibonacci level. This is exactly what happened. However, I was not expecting that Nifty will go into a super-trend. Now the following is my analysis for coming week: The number 1 question that comes to mind – what is the target? There are a couple of methods that I personally...

wwannabebull

What I said last week was that the Nifty can go till 16500. But Nifty blasted itself all the way till 16750. Now the following is my analysis for coming week: I am no expert at wave theory but Nifty has made 3 tops respectively around 16050, 16600 and 16750. If my theory is correct, Nifty should undergo a correction and find support around a Fibonacci level. The...

wwannabebull

What I said last week was that the Nifty will consolidate around 16500. I couldn’t be more wrong as Nifty corrected a bit during the week. Now the following is my analysis for coming week: Nifty has been respecting both red and purple channels as per its whims. I expect Nifty to reach the mid-band of these channels. This would take Nifty to somewhere around...

wwannabebull

What I said last week was that the Nifty will consolidate. I couldn’t be more wrong as Nifty remained in an uptrend throughout the week. Now the following is my analysis for coming week: Nifty is playing around this green channel. Since it has remained in uptrend for so long, I expect it to finish the cycle by breaching the band. This would take Nifty to...

wwannabebull

What I said last week was that the party pooper can be the 15900 level. Surprisingly, Nifty opened at that level itself and could not breach it further. Now the following is my analysis for coming week: Nifty is now setup nicely to breach 15900 easily. However, the last 14 candles have brought Nifty in a range. Basically, there is an absence of momentum....