Important Observation In NIFTY

Fresh weakness only below 5980 Levels.

Expect Strong UP above 6050 levels.

Yet Non-decicive trend continues.  

On the other hand trading above 6050 should emerge strong buying.  

LOW VOLUME MOVEMENT MAY GIVE UNEXPECTED FLUCTUATION.

Another day passed without much gain or loss and NIFTY continues to trade in the NRB move (Narrow Range Bar)

Yesterday we have observed a pattern called Harami White and then today (i.e. on last trading day no signal or confirmation.

(HOWEVER I HAVE FOLLOWING OBSERVATION FROM INTRA DAY TIME FRAME GIVEN IN NEXT PAGE NO 2)

After so many days we have observed some momentum in cash segment as well as in other oil stock. Something is cooking up and as we have passed so many range trade and hence the unidirectional move is very near and in next 48 hours should give either directional breakout.

Close above 6015 or trading above 6080 will give strong up move in the upward direction while trading below 5980 should trigger fresh selling signal.

Behavior of NIFTY from last swing low 5721. It is observed that it has a tendency to correct its previous swing by 0.50% to 0.618% and If this is the case then yesterday NIFTY corrected its last swing by 0.618% when NIFTY SPOT registered 5982 (0.618% is at 5980).

Considering the past attitude we can say that now NIFTY should not go below 5980 in any case. Even after violating 5980 same day recovers and starts trading above 5980 it will be a clear buy signal. So now without violating 5980 if 6050 is surpassed then next probable peak at 6127 area.

Swing Type	Bottom	Top	Net Gain	% Gain	Probable TGT
Swing I	5721.15	5887.65	166.5	2.910254
Swing II	5804.1	5953.95	149.85	2.581796
Swing III	5855.05	6023.8	168.75	2.882127
Swing IV	5940.36	6045.75	105.39	1.774135
Average Gain From Low			147.63	2.54
Expected Swing	5980 + 147.63 OR 2.54%	????	147.63	2.54	5980 + 147.63 =        6127.62