Nifty 29 September 2013 : Current Possibilities

The short term view posted in my post NIfty 24 September 2013 : A short term view, which is likely to take place within the containing possibilities shown in my post Nifty 24 September 2013 : The container for some time to come, has taken the least expected path in all probabilities with minor variations.  The subsequent moves mandated a review and when I did that, following possibilities emerge...

So what should be done?  Within these possibilities, longs could be initiated near recent lows with SL of 5797 for a target of 5900/5970/6100.   While Shorts can be initiated only near the thick red UTL with SL above this.  Targets for shorts could be 5810/5700/5500.  Whichever side is chosen, a SL must be an integral part of the plan.  There could be more surprises in store with Bernanke and Rajan coming up with unexpected discourses to revive their respective economies.

NIfty 24 September 2013 : A short term view.

While I worked out the container for a longer term horizon at Nifty 24 September 2013 : The container for some time to come, its the shorter term moves that will help a trader to make his moves in the market.  In the current scenario, following possibilities emerge...

 What needs to be wtched is 5798.  While a visit beyond 5960 is almost certain now, if this rise does not make a new high, it will come down to go below 5854.  If during this fall 5798 is held, the rise can be taken as z.c, if it breaches 5798, many more possibilities will surface.  Divergence in hourly needs to be watched and if seen, must be traded.

Nifty 24 September 2013 : The container for some time to come.

I had mentioned about an ET in my post Nifty 23 July 2013 : An intermediate correction. Fall may commence any time. The way moves in Nifty have evolved, my belief gets firm.  The chart below is showing how it looked in July 2013...

The chart below shows how Nifty has evolved till 23 September 2013 and what could be expected in future....
 

Nifty 20 Sep 2013 : Two Alternates and Both Should Head Higher

My perceptions on Nifty may be far - fetched but I can't think of anything better at this juncture.  The chart below shows two alternates.  Both, as I perceive, should head higher after a dip to 5700-5500 levels.  My take is that the dip should be restricted to 5680 and then the rise should resume for the final push.  6300 and 6680 are the figures I would be looking for, once 6165 is taken.  If not, even 5000 may be on the card.  Future moves may give some indications, but as of  now 5700 or so, seems to be the floor.  Not to forget that if the red counts are being followed, then ensuing rise may go through the roof.

Nifty 03 Sep 2013 : The grand finale

The ET got completed with a spike in the morning.  What followed was a rapid down move to finish the unfinished.  A back test of neckline, which was incomplete at 5118 will complete at 5080 or lower, if done tomorrow.  If the neckline holds, the targets mentioned at Nifty 31 August 2013 : Inv H&S Targeting 6680 could well be a imminent possibility.  Here is the chart :