Friday's close will set the trend for the October series.The gap between 5060 to 5110 will act provide resistance to the up move.Targets for spot Nifty in October series look ominous if this move clears the 5180 levels and carries further.The pattern ABCD looks convincing with ABC formation in place.The earlier move also was resisted twice before it could cross the resistance of 5600 and gave a move of 345 points upto 5945.The move will be fast if it comes and will mark huge short covering.The move below 5169.25 to 4911.25 was 258 points and next move was 5168.40-4758.85= 409.55 points.If the level of 5169.25 is crossed then we get two targets 5169.25+258=5427 and other target can be 5168.40+409.25=5577.65.(throw over above the channel as witnessed on 6-7 July and 21-22 July).The movement needs to be monitored as and when it happens.This is just an observation and patterns do fail in market.
Happy Trading !
BAAPRE KAI DARING LEVEL AHE 5427 5577.65 I CAN T IMAGINE IN DREAMS ALSO THIS LEVEL AND NO ONE MIGHT BE EXPECTING THIS IN OCTOBER SERIES IF THIS COMES TRUE I WILL FALL FLAT ON UR FEET OF COURSE IN HAPPINESS
ReplyDeleteHi Sunilji,
ReplyDeleteAlways think out of box.This level is possible if it closes above 5200 and with huge short covering happening above 5200.But first we need
to close the gap of 5060-5100 and get three closes above 5170.
Regards
K B Raut
Hi! Is it possible for you to update this chart, to show how it looks and what are the potential targets. It is really amazing how you have captured this upmove in october much in advance. Thankyou verymuch
ReplyDeleteNatarajan
Hi Chetas,
ReplyDeleteThanks for your kind words.I agree with the target was was well advance in October.I request you to refer the Nifty Symmetry Chart on 20.10.2011 for updated targets.In my opinion the bottom was confirmed at the low at 4720,watch the biggest semi-circle connecting the 6338 top and 4720 bottom.Also how the symmetrical points are generated by the circle.Also we are in the zone of faster retracement(just how the earlier accelerated move corresponds to the current move).If you observe correctly you will get your answer.Also my targets for the current are given in "Nifty in Current Scenario 28.10.2011."
Regards
K B Raut