NIFTY

As discussed in previous post, NIFTY managed to close above 5675. MACD and Slow Moving Averages crossed positively providing support to the rally. Now NIFTY is clear buy for a minimum target of 6000 with support placed at 5555.

Nifty - Medium Term

Though NIFTY trying to reverse its down trend, as long as it close and sustain below 5675 the trend will remain down. However a sustained close above 5675 will bring in 6000+ on NIFTY very quickly. Journey till 5675 seems to be difficult and on passing through it is safe for next 300-500 points. So advocate caution on journey in next 200 points for safe journey ahead.

NIFTY - 15th March

10:13 IST Seems like struggling book profit at 5420 now.
09:55 IST Current price is 5403 move the Trailing Stop Loss to 5400and move the profit target to 5430
09:45 IST Buy NIFTY (Fututres) at current price of 5380 target 1 5410

NIFTY - 14th March

15:20 IST Ummmm......Trailing Stop hit at 5554. So profit = 60 points.

15:10 IST Since second target at 5561 is very close by let us move the Trailing Stop Loss to 5554 (Current Price 5560)

14:55 IST Price moved above first target of 5548 (based on Fibonnacci Retracement) so now let us move our Trailing Stop Loss to just below it at 5544

14:40 IST Notice the blue arrows along the yellow horizontal line, since price retraced from those levels earlier from 5538, though currently nifty futures trading above let us move our Trailin Stop Loss to 5534.

14:25 IST Since NIFTY (Futures) is trading above Friday's high of 5512 and also crossed above todays earlier high of 5522, let us move our Stop Loss to just below today's ealier high to 5520 (Current price 5530+)

13:53 IST NIFTY moved to 5507 so let us bring up our Stop Loss to 5500.
13:43 IST Since NIFTY is not going below 5474, let us buy again at 5494 at our earlier buy price.

13:43 IST Oops.... hit trailing stoploss at break even...!

13:15 IST Europian Futures opened in -ve and struggling, so let us move our stoploss to break even point. Those who may not want to take chance can close at current price of 5508 for a profit of 14 points.

12:14 IST Nifty is struggling near yesterday's high incidentally it was also multiple high that was rejected on friday also. A break and sustinance above this can only take nifty high from here. Supports placed at 5494 - 5475 - 5460 for today. Buy NIFTY now at current price of 5494 with 10 points stoploss. 1st target is 5512 then 5565.

LEARNING

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Few More Chart Patterns

Gold - Triangle Trend Pattern

For Learning: Learn about Triangle Patterns Text Reading      Learning Videos
Gold Technical Analysis:

US Market update

Price Chart after the post "For Learning"

For Learning: Moving Averages crossed +ve and then price crossed above yesterday's low ie 11964 and Dow jumped nearly 50 points with  in 10 minutes!

Dowjones is struggling under yesterday's low for almost all the day today, which is -ve for today as of now. If it has to reverse its losses and turn higher for the day it must go above 11965 and stay above it. For today it has support placed at 11920, a break and close below this will not be good for coming days. Though price is falling today, it is forming higher highs higher lows trend, which is good and if price sustain above 11965 by late after noon (US time) it can recover well towards end of the session. And a break above 12050 is a good sign for coming days.