Nifty Astro Technicals for December 13, 2012

Nifty Astro Technicals for December 12, 2012

In our post on December 09, Sunday, we had expected Nifty to cool off its bullish fervour and be on a negative footing on December 10 and 11. December 12 was when we had expected Nifty to resume positivity ( by reducing negativity considerably ) and from December 13 onwards, Nifty is to resume its upward movement.We had also expected Nifty movements to be a little wild, keeping with the character of extreme declination of Uranus on December 11 and extreme declination of Pluto on December 12.
Nifty did cool off on December 10 and 11. Nifty movements today were wild- hitting a high of 5965 and then reacting 100 points to a low of 5865. Nifty had kept most traders guessing throughout the day,which is very much in keeping with the characteristics of a Uranus day.
Some more gyrations seem to be in store before we resume some more up movements.

Here is the preferred wave counts as of today, December 11, 2012.
The present 2nd wave of 5 ( of C of the Diametric D) seems to be exhibiting complex corrective behaviour.A leg up as b and a leg down as c should complete wave 2 in this time frame before wave 3 commences upwards. Our expected date for wave 3 is December 13.
That the second a of abc formation after x wave, reacted as much as up to 5865, is an early warning signal that the up trend is losing steam and the final topping is not very far away.
It is interesting to look at a fractal similarity seen in daily and 30 min charts of Nifty.

That the fractal in 30 min time frame looks compressed probably points out to the shortening time available for rest of the waves of Wave 5.Sudden sharp falls and increased volatility are hall mark characteristics of 5th waves.

Let us look at another long term fractal. That occurred in the Sensex between 1992 and 2003 and compare with the present period.

If we assume a similar retracement of 96.8% or thereabout,  Sensex should touch 20917, which is another 1355 points away.
Will History repeat?

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.