Nifty -a Few Technicals

Nifty seems have completed wave one of 5 and may have started on wave 2 of 5.Indeed after a rise from 5548 to 5949 ( about 401) it is healthier to have a correction.We had an intraday fall on December 06, but a correction on closing basis is still to happen.Since this rise from 5548 has already consumed 12 trading days, a correction is due time wise also. Looking at the technicals the correction in the form of profit taking may be swift and sharp with recovery in the form of 3 of 5 continuing the current up trend.
Here is an intraday Fibo picture....It is interesting to see the intra day correction falling exactly to 23.6% levels.

On the weekly charts, we are beginning to see the beginnings of a negative divergence with the 9 period RSI...

While it is too early to react, it pays to be a bit more cautious, going forward

Nifty Astro Technicals December 10 to 14, 2012

Nifty cycles and a critical price zone

Nifty Intra Day Wave Count Options Dec 06, 2012

In the second scenario third wave could commence from 16/ 17 December....

Nifty Astro Technicals Possible top formation Dec 2012

Nifty Astro Technicals for December 06, 2012

When Nifty touched 5919 today, it had achieved a retracement of 76.8% of the drop from November 08 2010 to December 20, 2011.Repeating once again what we had repeated several times,this D leg of Nifty can retrace up to 98% of the previous C leg.

The next important level to watch out for is 5977, which represents 80% of the retracement from
6338 to 4531.

Nifty Astro Technicals for December 05 2012

Nifty is firmly in the fifth wave and after the initial dynamic move, it had consolidated on December 03 and 04. The next reversal date is nearby, December 06/07th, 2012.

Nifty Astro Technicals for the week Dec 03 to 07, 2012

We will analyse last week`s Astro situation and projections during the week. We will also look at the medium term astro outlook for Nifty, at that period of time.
Meanwhile please trade carefully with proper stop losses in place.

Nifty Astro Technicals Moon Phases Ahead

Nifty Monthly Fibo Levels- Nov 2012

5919 is another important point to watch out for....