Breakdown from the short term TL and the indicators are showing bearish signs. Next target could be around nifty4860 / sensex 16300. Trend line starts from the March low support nifty but it has seen broken in sensex.

Nifty may come down to 4650 _4500 level 14period RSI below 50% Stochastic turn negative MACD poised for negative across over ADX shows weakness near 16 with (- DI 34.93) negative directional index near 35 and moving up

more bearish

A retest of 50 DMA can be repeated, while more down side is expected as the indicators are leading bearish. 20 & 50 DMA shows convergence. Resistance at 4750. Targets 4650 _ 4616 & 4584. #NIFTY long term ( for coming weeks only) we may see #MARKET near 4100s, of course with a bounce somewhere in the middle. These charts are not to be considered as predictions but only for awareness.

Penetrating through the supports Find how it supported at 4968 toady. Next support around 4800. The RSI too broke support as expected (not shown here).

Price is hovering around the support line same as It was on last Friday.RSI support may break as there is a neg: divergence showing weakness. A break below 5040 nifty will fall below 20 dma & raising trend line starts from march which can take nifty to 4950_ 4750 and more.On holding 5040 nifty can reach to 5300

My Nostagic moments I use to sit on the culvert besides the way , and I was so happy to see an youngster drop by me and ask me …. my well wishes and, he share me his time a lot with me. I wonder looking at him some time when he descend from his bike , very rarely , other wise he use to sit on the bike by supporting his leg… I was a poor child in my teen , playing alone on the road in front of my small house. He was young & enthusiastic and I saw him always with laughter and etiquette with ritual marks on his forehead, where as me always in a same trouser… if I couldn’t see him coming.. my mother use to twitter me, da… your kannan in coming .. and I run for him.. .....................................................................A tsunami came and it took me away to the metro and again the second wave drift me to middle east. But he was so burly and based , nothing touched him. God blessed him for his compassion& vigor ever. He became like an oak tree with roots deep aground him, the branches sheltering many birds, there are joy around him…. And me, I find some relief on the other shore, become strong and well but by the time I look back home I find that I am a looser. I literally lost everything I like. My mother is far away from me , am a stranger to my folks now. what I have is some count of bread in my basket.......................... God blessed me too . other wise how could I stand erect alone in the dessert. Now I started ploughing up my land in native to nurture a tree atleast not an oak which can be useful to few lives and children paly around me and the loving clouds showers on me , they will create a dew pond near me and I will shed an acorn into it, to see the ripples calling me feel cool........................... I am nostalgic as I saw him today

nifty_myview A Fall of the entire pull back can be expected as the rsi brk short TL. Major peak supports & 50 DMA both around 4750. Only on breaking this level one can expect 4140. Let us see how the correction will resolve further.

PULL BACK

vix amusement In my earlier post I was expecting further down side as the channel suppotrs shown in the old charts. For targets: we may reach 4780(pls refer the monthly chart posted on 31st may) expect more charts as my schdule changes from next week onwards Index majors and some charts with crucial levels shown

to read with replay to comments more on targets... A shelf support shwn n the pervious post (green thick line) is broken. Now hope for the (3870 fibo lvl), & 3750 TLS soon. Expect a pause or small bounce at this lvl , before further down.

Can we expect a prebudget rally? Based on current technical positions I believe that, it is not possible. Nifty is having support at 4100 level. A break below 4092 will lead us to 3870 3616 & 3362 level. stoploss 4374

monthly view

The value of VIX increases when the market declines and decreases when the market rises,as the rising stock market is viewed as less risky, and a declining stock market more risky. The higher the perceived risk is in stocks, the higher the implied volatility and the more expensive the associated options, especially puts,Hence, implied volatility is not about the size of the price swings, but rather the implied risk associated with the stock market. When market declines, the demand for puts usually increases & Increased demand means higher put prices & higher implied volatilities. Comparing VIX action with that of the market can yield good clues on future direction or duration of a move. The further VIX increases in value, the more panic there is in the market. The further VIX decreases in value, the more complacency there is in the market. Extremely low VIX readings indicate a high degree of complacency, and are generally regarded as BEARISH, readings below 20 as excessively bearish. Conversely extremely high VIX readings indicate a high degree of panic among options traders, and are regarded at BULLISH. High VIX readings usually occur after an extended or sharp decline and sentiment is still quite bearish? & readings above 30 as bullish. Conflicting signals between VIX and the market can also yield sentiment clues for the short term. Overly bullish sentiment or complacency is regarded as bearish On the other hand, overly bearish sentiment or panic is regarded as bullish. If the market declines sharply and VIX remains unchanged or decreases in value (towards complacency),( like on 25th may ) it could indicate that the decline has further to go. Contrarians might take the view that there is still not enough bearishness or panic in the market to warrant a bottom. If the market advances sharply and VIX increases in value (towards panic), it could indicate that the advance has further to go. Contrarians might take the view that there is not enough bullishness or complacency to warrant a top. Courtesy to stock chart.com

Hi Aravind, watch for the graphs related to the answer for your comments

GOLD WATCH

Yet another hypothetical target ,if we take the pullback as a C wave of an irregular flat(not running flat as shown in the grf,) 3-3-5 started from oct low. The C of irregular flat can lead up to 2.62 time wave A. This may match with the 89 week MA as time lag, which was a strong support in the bull run and will remain a strong resistance in the bear rally. Wanted to see how the Giant with a bearish out look will perform in this euphoric thrust. ONGC Target 680 Many were asking about VIX chart here you have an easy way to access , click on the link or cut & paste the follwing,& add to favorites , for further updates change the date in the address bar in same format next time. http://www.nseindia.com/marketinfo/charting/HistVIXChart.jsp?from_date=02042007&to_date=17042009

nifty_MA

Hi friends many crutial cross overs took place in yesdays trde. The 20 crossed 50, 100 crossed 50 and we have convincingly crossed the bear fence 200 dma 3426.15 all in linier scale but. I hope we can reach to our first target 3820 very soon

bullish view

Nifty_current outlook

We can see a breakout in price from the falling trend and already there was a breakout in 14 period RSI last week. If the price can sustain above the trend line we may see 38.2% & 50% rise of the total fall from January ‘08

test

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my view on sensex

My target for sensex 6800 remain unchanged The west recovered nearly 6% in 2 days when we were enjoying the Holy Holy holidays

down trend contd...

Halo friends, The down trend is getting strong. I was chking the adx indicator and find no bewilderment we ar ein right path. Negative directional indicator is crossed above positive and nnow the average is moving above 20% getting stronger.

DEAD SEA

Triangle brkdwn: If we take 26 feb top the target will be below 2000

my view on nifty & index majors

OI_graph up to 20 Feb 09

some charts