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Nifty levels

Discussion in 'Technical Analysis' started by vishuhd1, May 3, 2013.

  1. vishuhd1

    vishuhd1 Member

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    After today's red candle, where do you see the next levels for nifty?...
    The closing is just a shade below the important levels of 5950.. So, does this mean the start of downtrend for nifty or is it too early to make a call?..
     
    vishuhd1, May 3, 2013
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  2. shabbir

    shabbir Administrator Staff Member

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    6k will be tough to cross mentally and technically. Technically because there was almost no consolidation before the move began
     
    shabbir, May 3, 2013
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  3. vishuhd1

    vishuhd1 Member

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    Does that mean that nifty may trace back to 5500 levels in the near future (because, from thats where the move started) or will it try to consolidate around 5950 levels?... Do you see any trend reversal patterns in the nifty charts?...

    According to me, even with today's red candle, chart is not showing the trend reversal patterns/candles.. But, I am really not very sure..
     
    vishuhd1, May 3, 2013
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  4. shabbir

    shabbir Administrator Staff Member

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    There is no trade zone and so it is more like a holidays currently if you prefer trading in Nifty
     
    shabbir, May 3, 2013
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  5. vishuhd1

    vishuhd1 Member

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    Ok.. Sure Shabbir.. Thanks very much for your inputs and guidance..
     
    vishuhd1, May 3, 2013
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