Just got fooled with the randomness in the 15 min Nifty future chart in my earlier view . So looking into a higher timeframe as shown above Nifty has formed a typical 5-3 wave pattern with 5 wave downward impulse pattern ending near 4155 and 3 Wave impulse pattern ending near 4440 levels. This pattern will fail if nifty opens gap up above 4440
Now Nifty Future is likely to resist near 4440 levels so that elliot wave pattern in houly charts could proved right or Else resisting near 4500-4510 to …

Until now 10 day SMA trin shows bearishness(raising trin) and today shows a sharp move
towards 2.0 i.e still at oversold levels(Delivery  based selling zone)

Note : Only falling trin is considered as bullish. Raising Trin is Considered as bearish

Still Now.

1)No Bullish cues from TRIN(Still in raising mode)
2)No Bullish Cue from USD Index(Still remains rangebound)
3)Nifty Bearish Top formation in Weekly Charts
4)Reliance lagging Nifty – A Bearish Factor as per Dow theory if the market leader lags the index
Source:
www.marketcalls.in

Still now both bulls and bears are defending and both are not ready to give up. I do have produced mixed view in my blog.

So Far 
USD Index looks Bearish – FII's will possibly turn net buyers.
TRIN Oversold levels – Falling trin is considered as bullish
Nifty – Weekly charts looking bearish top formation. Bulls will return only above 4474 and 4600 on weekly closing basis
Reliance – Reliance closed below fresh 4 week low. Alarming sell signal as per Donian's 4 week rule and also lagging nifty

Overall Bulls are defending 4155 levels …

Weekly Charts of Reliance closed below fresh 4 week low. Also top formationwitnessed in weekly charts. Symbols alarming for next week. Also when nifty and reliance makes historical circuits…. truly reliance whas leading nifty by that time. After hitting circuits, a day later nifty was trading near 4200 and reliance near 2400 levels. And currently nifty is trading above 4300 but reliance is trading near 2040 levels
1)Reliance(market leader) is underperforming Nifty. And as per dow theory it is a sell for next week
2)As per Donian chain rule Reliance closed exactly …

To Know more about ICIMOKU cloud trade  check out the recent posting 
Icimoku Cloud Forecasting for-High Probability Trades 

Chart Show the Monthly charts for Nifty,Bank Nifty, Reliance and Midcap(Click on the charts to get
a bigger view) from the chart you could found that Reliance and Bank Nifty is Near the cloud resistance
and Nifty and Midcaps still have some room to move towards the cloud resistance and also in short
term Nifty and Midcap will outperform both the Banking sector and Reliance which is also visible in
day-to-day trading. Avoid Such financial instruments as high level of …

Sensex Chart 2000-2001
(Click on the chart for a bigger picture)Chart Source : I had find the Sensex 2000-2001 chart from Mr.Pankaj in the below mentioned forumhttp://www.vfmdirect.com/forums/show.cgi?topicid=1240251080#1240685894
Nifty Weekly Chart

look at chart of sensex for 2000-2001 and compare sensex values with current nifty values.

Looks upside is capped near 3700 region

Also 200 WEEK Moving Average comes near 3775 region.
But my doubt is reliance is already trading above 200 Week Moving Average…… 

Iam just putting the question in front of you…

Reliance Weekly Charts
Who is going to catch whom?
Will Reliance step down below 200 …

Stock : Aban Offshore
CMP : Rs 437
13 WEMA : Rs 457
34 WEMA : Rs 1006
Charts : 3 Year Weekly
 
Almost all the Oil Sector related stocks are making breakouts and trading above 200 Weekly Moving average (e.g Reliance, Essar Oil, MRPL, GAIL and even ONGC is nearing 200 WMA). but the only stock that is trade below below 200 week moving average and even  below our favorite 13,34,55 Week Exponential Moving Average line. Also Rate of Change indicator (ROC-10) is very close to 0(-9.6) indicates that breakout is very nearer.
 
So in near …

Stock : Hero Honda
CMP : Rs 844.7
1 Year High : Rs 898
3 Year High : Rs 940

Hero honda one of the bull stock in Nifty for the past 1 Year. May be the only positive stock in your portfolio.Charts shown here is a 3 year weeky charts with bullish EMA patterns. Stock shows all the possibilites of bull market
behaviour. Even stands above 200MA . Even Coppock Indicator Say Buy – Hero Honda 

Possibly Hero Honda Could Test above 900 in 1-2 Weeks before a minor sell off begins …

Short Reliance too if the week forget to close above 1245
Source:
www.marketcalls.in

We consider the Relative Strength Index (RSI) to be one of the best indicators available. There are a number of books and articles written about RSI, how to use it, and the value it provides in predicting the short-term direction of stock prices. Unfortunately, few, if any, of these claims are backed up by statistical studies. This is very surprising considering how popular RSI is as an indicator and how many traders rely upon it.
Most traders use the 14-period RSI, However, when you shorten the timeframe you start seeing some …