I have posted this before also on
http://dhairyaniftylevels.blogspot.in/2014/03/its-just-view-of-some-calculationsjust.html
http://dhairyaniftylevels.blogspot.in/2014/03/its-just-view-of-some-calculationsjust.html
Friday, 7 March 2014
Dear all,
FYI…. No recommendation. Only as information….
NIFTY WEEKLY CHART
Source Telequote
HISTORY REPEATS IT SELF As we have witnessed the Pre - election breakout has just started today, with a Triple Top Breakout can also be seen on the NIFTY weekly chart.
This time the Breakout is exactly 8 weeks before the result and the 9
th week is the judgment day (Result 16 May)
And in the 12
th week we could witness the immediate top.
The pre-election breakout thrust was till 3700 that’s approx. 15 % rally from breakout from 3200
So if we calculate breakout from 6356 the rally comes to 7309 that is (15% of 6356=953) 6356+953=7309
And after the result the market gave a GAP UP rally and went up to 4692.
If we calculate total rally 4692 – 3200 = 1492 that’s almost 46% rally from the breakout
So if we calculate breakout from 6356 the rally comes to 9279 that is (46% of 6356 = 2923) 6356+2923=9279.
But conservatively we take T1 of 7400 , T2 7817 (50% rally) and T3 8168 (61.8% Fibonacci level) and 9279 (100% Fibonacci level ).
Strategy = Go Long on NIFTYT till 6200 (CMP 6500) , SL 6000 TGT 7300-7800 (1-3 Months)
FYI…. No recommendation. Only as information….
NIFTY WEEKLY CHART
Source Telequote
HISTORY REPEATS IT SELF As we have witnessed the Pre - election breakout has just started today, with a Triple Top Breakout can also be seen on the NIFTY weekly chart.
This time the Breakout is exactly 8 weeks before the result and the 9
th week is the judgment day (Result 16 May)
And in the 12
th week we could witness the immediate top.
The pre-election breakout thrust was till 3700 that’s approx. 15 % rally from breakout from 3200
So if we calculate breakout from 6356 the rally comes to 7309 that is (15% of 6356=953) 6356+953=7309
And after the result the market gave a GAP UP rally and went up to 4692.
If we calculate total rally 4692 – 3200 = 1492 that’s almost 46% rally from the breakout
So if we calculate breakout from 6356 the rally comes to 9279 that is (46% of 6356 = 2923) 6356+2923=9279.
But conservatively we take T1 of 7400 , T2 7817 (50% rally) and T3 8168 (61.8% Fibonacci level) and 9279 (100% Fibonacci level ).
Strategy = Go Long on NIFTYT till 6200 (CMP 6500) , SL 6000 TGT 7300-7800 (1-3 Months)
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