wwannabebull

wwannabebull

What I said last week was that I would not be surprised if Nifty manages to give a swing-high to 15625. Now the following is my analysis for coming week: Nifty is positioned nicely for a big jump. It carries a good momentum from last week. The upward push can help Nifty in filling a big gap between 15886 and 16172. The party pooper can be the 15900 level as I...

wwannabebull

What I said last week was that I expect Nifty to fall to at least 15700 level in the coming week. This was almost on track until the big red candle of June 16th. Now the following is my analysis for coming week: Nifty is purely a sell-on-rise scenario. The fall should not stop until level of 15,000 is breached. However, I would not be surprised if Nifty manages...

wwannabebull Updated 

What I said last week was that Nifty’s rise can continue till 16650 but I did not know what would happen next. Now the following is my analysis for the coming week: It may seem like Nifty is going green but looking at chart from April 4th, all that Nifty has managed to do is to create a lower high. With stochastic being in overbought territory, the indicators...

wwannabebull

What I said last week was that with stochastic being in overbought territory, the indicators state that Nifty should not rise further and that Nifty shall oscillate around 16400 level. It turns out that it was not a bad prediction, though not completely true as Nifty ended at 16200. I can’t be that accurate, obviously. Now the following is my analysis for coming...

wwannabebull Updated 

What I said last week was that consolidation is unavoidable. This is what happened during the week except for Friday when Nifty broke the 4-day range to go up. Now the following is my analysis for coming week: With the rising momentum, Nifty is all set to break the previous swing high of 16414.70. The rise can continue till 16650. This level will mark...

wwannabebull Updated 

What I said last week was that the market should not be able to break support band of 15500 easily. Nifty has not even reached that level and is finding support around 15750 itself. Now the following is my analysis for coming week: Consolidation cannot be avoided this week. Nifty does not have enough bullish momentum. At the same time, breaking 15750 requires a...

wwannabebull

What I said last week was that the market should now ideally go for retracement. This did not happen though, as the market continued with incredible downtrend momentum for the whole week. Now the following is my analysis for coming week based on what I am looking at Nifty is very near key support level of 15400 to 15600. I do not expect market to break this band...

wwannabebull

What I said last week was that the trend remains bearish. I had been anticipating a good move on the downside since past 3 weeks. The last week finally gave that move. Now the following is my analysis for coming week based on what I am looking at I only know the very basics of wave theory but I believe I can see the 3 waves from 18100 level to 16375 level. This...

wwannabebull

What I said last week was that the setup was ready for a good move on the downside. I was expecting support around 17200 level. The market though opened far lower and the anticipated down move was already done on Monday itself. Now the following is my analysis for coming week based on what I am looking at Since the first week of April, this has been a...

wwannabebull

What I said last week was that the setup was good for a significant downside. I was anticipating that Nifty will breach 17000 and coincidentally, this is what happened. There are times when Goddess Saraswati blesses my keyboard. Hope the blessings continue. Now the following is my analysis for coming week based on what I am looking at (You may want to open image...

wwannabebull

What I said last week was that there was no clear sense of direction which market may take. Well, Nifty only had 3 days to trade anyway. Even though 17550 was broken, there was not enough time to build momentum last week The setup is ready for a good move on the downside. There are 2 parallel channels that I can see. Support lines for both channels can be seen...

wwannabebull

The last week would have had Nifty short position takers gasping for breath on Monday. If those traders were looking at sgxnifty.org on Tuesday, they would have lost all hope. However, things got normal as market opened on Tuesday and then there was trouble for long position takers. Now the following is my analysis for coming week based on what I am looking at:...

wwannabebull

What I said last week was ‘Even if Nifty manages to break above red line, it may not be possible to maintain uptrend.’ I couldn’t be more wrong as Nifty went all greens blazing in a solid breakout above 17650. This week is expected to swing both ways. I see Nifty as trapped between my red and green rectangles. It may not be possible to maintain uptrend. There is...

wwannabebull

What I said last week was ‘As the market is rising back with a vengeance after the previous 2-3 weeks of downtrend, it will be difficult for bears to stop its momentum.’ I was right as most of the week was a minor bullish trend. This week is expected to swing both ways. I see Nifty as trapped between my red and green lines. Even if Nifty manages to break above...

wwannabebull

What I said last week was ‘I don’t see why the downtrend should even pause.’ I was right but I did not expect to be so right so fast. A major gap-down opening on Monday continued by freefall meant that all objectives of the week were achieved on day 1 itself. This week is expected to swing both ways. As the market is rising back with a vengeance after the...

wwannabebull

What I said last week was ‘I usually use this combination to say that Nifty’s mean reversion is done and the previous trend shall resume now.’ I was right but I did not expect to be so right so fast. I was actually expecting Nifty to rise up a bit more before falling down. Since Nifty did not waste much time in resuming its downtrend, I don’t see why the...

wwannabebull

What I said last week was ‘The momentum is so strong that I anticipate Nifty to drop somewhere till mid line of purple or halt somewhere in between. Subsequently, the market should reverse and fly till somewhere between 5 EMA and 21 EMA.’ I couldn’t be more right, can I? Nifty as of now is playing with every trader’s mind. It is in a difficult spot where making...

wwannabebull

Breach of 17,600 would be an official signal of continued downtrend. Nifty may go down by another 1000 points in the long run. This is what I said last week. But my guess was ‘long run’ and not right-here-right-now. I really need to figure out how to take time into consideration. Maybe, Astro-finance can help. We have a red channel and an extended purple...