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Double Bottom breakdown in Nifty P&F Chart

Posted: 29 Jan 2010 01:41 PM PST


Double Bottom Breakdown in the Nifty this is the bearish pattern form in Nifty P&F Chart on 29 Jan 2010(i.e Yesterday) after breaking below 4800 initially in the morning. 
Source: www.marketcalls.in

Slope Indicator Update for US Dollar Index

Posted: 29 Jan 2010 01:15 PM PST


Chart shows the current trend for USD Index with Slope Indicators with 20(Short term),50(Medium Term),100(long Term) period. Just click on the charts to get a bigger pictutre. Slope period can be varied according to the investors requirement.

Guessing the trend is very simple.
1) Trend is Positive until the Slope remains Positive
2) Trend is Negative Until the slope remains negative

And currently the shorter term, medium term and long term trend for US Dollar had turned positive.
And Even Dollar had crossed and closed above 200 day Moving Average today

Related Readings
Source: www.marketcalls.in

The orginal path of Nifty is not yet reversed

Posted: 29 Jan 2010 12:04 PM PST


Here is the zoomed GANN FAN of the Nifty Daily chart. Which indicates that imajor downtrend move had been started and Nifty had broken the major support zone 5180 . The recent bounce from 4800 indicates that 4800PE of Feb Series Puts are being written in the very shorter term as the Put writers feel more bullish to hold 4800 for time being. But is the path to downtrend over?

The Answer is simply no. The next support zone for Nifty still near 4605-4680 levels and keeps increasing with respect to time. And also the 200 day Moving average for Nifty is near 4600.
The Orginal path of the Nifty is not yet reversed and the market is trying to fool us in the form of news,events and much more to suck our money from our pockets. Be ready to overcome such illusions!

Source: www.marketcalls.in

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