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Is NIFTY nearing exhaustion or more steam left?

Discussion in 'Technical Analysis' started by naveen1241, Jul 17, 2015.

  1. naveen1241

    naveen1241 Responder

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    Is NIFTY nearing exhaustion or more steam left?:confused:

    Naveen
     
    naveen1241, Jul 17, 2015
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  2. shabbir

    shabbir Administrator Staff Member

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    What do you think. I think this is more like a no trade zone for me.
     
    shabbir, Jul 17, 2015
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  3. jignesh_acharya

    jignesh_acharya Active Member

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    PE is at danger zone, Near 24
     
    jignesh_acharya, Jul 23, 2015
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  4. siva934127

    siva934127 Member

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    Could you please explain why you thought it was no trade zone on 17th july?

    Thanks and Regards,
    Siva.
     
    siva934127, Jul 25, 2015
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  5. shabbir

    shabbir Administrator Staff Member

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    Trade zone is only when charts form a pattern that I am comfortable trading and everything else is a no trade zone for me.
     
    shabbir, Jul 26, 2015
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  6. siva934127

    siva934127 Member

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    Please find the attachment of nifty chart, marked till 16th july and it has given breakout, please let me know why it is not a trade zone.

    Thanks and Regards,
    Siva.
     

    Attached Files:

    siva934127, Jul 26, 2015
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  7. shabbir

    shabbir Administrator Staff Member

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    If you look at the nifty pattern from Mid Feb to Mid June, you will see that it was more like lower top, lower bottom indicating weakness in market for 6 months. There was nothing that could have made the nifty to bullish again in such short span of time of one month and so I assumed that to be faked.

    Weakness in the market should be followed by consolidation for anything positive to happen which did not happen and so the break out that you see is pretty much invisible for me.

    The fall from 9000 to 8000 is 10%+ fall and so that needs some time to be taken out.

    So Nifty is no trade zone for me as of now. It needs to get in consolidation phase in between 8000 and 8400 for at least a month or so before breaking out because the fall was elongated and more than 10% as well.
     
    shabbir, Jul 27, 2015
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