Saturday, October 8, 2011

NR 7 in Nifty Weekly Chart

Nifty made a pattern of NR 7 in weekly chart. For the weekly, NR 7 represents, narrowest weekly range over the last 7 weeks. The NR 7 represents the contraction phase. After a contraction we expect an expansion. The key question is, "In which direction".

A move above the week's high at 4922 will suggest that the expansion is coming on the upside. Chart below:


DK said...

Another Superb post...

While All were talking abt inverse hns u come with hns pattern in nifty ..Superb Sir,

Herohonda-in falling market stock always give some hope as it did in 2008..and ur support is exactly placed at the point when stock started it journey for 2200..

Rushabh Shastri said...

nifty on weekly chart basis are at strong support now bear safe below 4728 cash told by you BIG MOVEMENT expected I expect BY ON DIPS THAN SELL ON RISE.

Technotrader said...

Sir, I was BIASED with my view on Nifty and overall market as I was bearish when it was @ 4750 also. Today I learned to see the market with opened eyes as it looks like not with the glasses I wear as I was wearing bearish glasses and it costed me. Thanks

Prashant Sarnaik

Technotrader said...

Sir, I was bearish and biased when market was telling me that it will not fall below 4700 I was not willing to listen and paid the fees for this. I learned the lesson to listen to the market and not to the noise, to see the charts with opened mind and not with biased view.
Thanks sir
Prashant Sarnaik

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