Wednesday, November 28, 2012

Nifty - Expiry analysis

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we forgot about horizontal channel  5640-5720 but nifty won't
Nifty re entered in its horizontal channel we can spot three channels
horizontal channel
falling channel
upward slanting channel
Nifty is trading above horizontal channel but below falling channel with  2 upper kisses and 2 lower touchings ...
if nifty will unable to breach  falling channel upper limit we may see selling pressure  tomorrow which will move nifty towards lower end of horizontal channel .
if nifty will break these upper lines we may  see huge short covering and nifty will move towards 5800 and above ..
possibility . nifty  may stay in horizontal channel ...

same chart with bottom trend line and horizontal channel.

It was posted on Nov 10 here
5640-5720 channel pulled  nifty back in range
volatility increased -next level may be  5600 or below as per red line
Daily chart showing long red candle

Weekly Nifty chart is showing long legged red shooting star

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