Nifty 4800 - 4860 range may pose strong resistance!

by Dean Market Profile on Wednesday, January 04, 2012 in Elliott Wave, Indices, Nifty

Nifty is rising impulsively. We may have completed wave 1-2-3-4 of this 5 wave upmove in wave {c} of (4). The target levels for wave 5 comes in the range of 4800 - 4860, once in this zone we can keep an eye for possible reversal patterns. Our ending diagonal scenario is valid till this range from 4800 - 4860 is respected. if we break out above this range then we will have to reconsider our preferred count.

About Dean Market Profile
Dean is a fulltime trader for last 13 years. He is passionate about technical analysis. His instruments of choice are Nifty and banknifty futures and options. His main analysis and trading tools include advanced techniques like Market Profile, Voilume Spread Analysis and Order FLow Analysis. Dean is a teacher at heart and loves sharing his learnings with committed traders. You can check out his courses here...

3 comments:

IndianMarket4 January 2012 at 16:06
Good to see your posts on dedicated blog.
Update everyday if possible.

Regards,
Krishna (Share Traders)
ReplyDelete
Replies
STOCKSWING4 January 2012 at 16:47
Looks like it will be breached in a day or two 4733 hold the key
ReplyDelete
Replies
Aniruddha4 January 2012 at 16:55
@IndianMarket thanks for the support.

@STOCKSWING yes I also believe 4725 to be a critical for this upmove to continue.
ReplyDelete
Replies

Add comment

...I am thrilled to learn what you think about this piece of content...

Disclaimer

REQUIRED US GOVERNMENT DISCLAIMER & CTFC RULE 4.41

Futures trading contains substantial risk and is not suitable for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing one's financial security or lifestyle. Only consider risk capital that should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results. CTFC RULE 4.41 HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS SUCH AS LIQUIDITY. SIMULATED TRADING PROGRAMS, IN GENERAL, ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN. All trades, patterns, charts, systems, etc., discussed in this website or advertisement are for illustrative purposes only and not construed as specific advisory recommendations. All ideas and materials presented herein are for information and educational purposes only. No system or trading methodology has ever been developed that can guarantee profits or prevent losses. The testimonials and examples used herein are exceptional results which do not apply to average people and are not intended to represent or guarantee that anyone will achieve the same or similar results. Trades placed on the reliance of Trend Methods systems are taken at your own risk for your own account. This is not an offer to buy or sell futures interests.

Wednesday, January 04, 2012

Nifty 4800 - 4860 range may pose strong resistance!

3 comments:

How can I help you?

Facebook

Popular

About Me

Blog Archive

Disclaimer

Recent Comments