Market Next Week

Decisive Adam and Eve…

 

I was expecting the fall to start last week and it did not. Market maintained the upward momentum last week too. We will see if the bearish tendency is still hanging over us.

 

We will the 30 Min chart first. We can see that NIFTY is rounding off. In addition, An Adam and Eve Double Top (AEDT) possibility, as marked by T1 and T2 is seen when we finished the week.

The confirmation point, for the AEDT is the 4918 point shown. A close below this point might trigger the fall which will have a potential to take NIFTY to 4361 might result.. Remember, the Double Tops are high ranking Chart pattern and it rarely fails.

 

On the other hand, If NIFTY close above 5030, then another rally, which will have a potential to take NIFTY to 5350 will result.

 

In the second chart (HDS Chart), we can see that NIFTY is seen to be forming a congestion region, as shown circled. This is the point from where the breakdown had happened in the prior sell off. Hence this point is extremely important. No wonder that at this point a Double top is being formed.

Since the chart patterns, still waiting for confirmation, It will not be apt to forecast a definite movement.

 

Then where else we can depend? Of course, the Fully-Auto Trading signals from www.ftalarms.com.  The 2000 NN and HDS signals are still in the LONG mode. The subscribers are sitting on pretty gains.

 

VIX Update.

Look at the powerful move of VIX. I had yesterday mentioned about the chances. Now it has close above the prior 3 days candle. Is it an indication of the worst coming? We have to see…

Second round of fall to start…???

The second round of the fall is close to its start? It might take a couple of days of preparation. Of course a sharp move cannot be ruled out.

 

Yesterday I presented the 15 Min chart to assess the situation. It has already broken down. I think it is ripe to go to the next level and see what is in store. Today. I am presenting you with the HDS chart. As you can see the, this retracement move just scraped through the bottom trend line, through which, on 27 Oct 09, NIFTY pierced through. The perfect retracement to same point occurred and now NIFTY has showed the fist weakness. We will have to see the price action of tomorrow to have a deeper assessment of what is in store for the rest of NOV.

 

I have made a posting today morning on the strengthening of VIX, which indicated the forthcoming weakness of markets.

 

Please do remember that, this market view has no relation to the trade signals. Those subscribers, who read this, are requested, not to mix them together. The market view is entirely my calculation and FTALARMS signals are based on absolute reality. Two entirely different things.