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You are here: Home / Nifty Technicals / Nifty Hourly Charts Indicating Further Downtrend

Nifty Hourly Charts Indicating Further Downtrend

August 25, 2008 by Rajandran Leave a Comment


 

CMP : 4335
 
Nifty Hourly Charts Indicating a strong downtrend Channel. And this time possibly Nifty may test 4156-4200 levels.
 
 

Iam not too much bearish on nifty stocks.Because for me it looks like a well manipulated game by the operators to slide the Nifty well above and outside trendline as shown and to move the market up from there. And Chance of reversal anywhere between 4156-4200 levels should be used as a buy on dips investing strategy.One should be highly bearish only if nifty dips below the trendline.
Till then Nifty remains a pure buy rating.

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Filed Under: Nifty Technicals

About Rajandran

Rajandran is a Full time trader and founder of Marketcalls & Co-Founder of Traderscafe, trades mostly using discretionary Trading Concepts like Market Profile, Trading sentimental analysis, building timing models, algorithmic trading models. Instructs professional traders, full time traders & aspiring full time traders. Rajandran attended college in the Chennai where he earned a BE in Electronics and Communications. Rajandran has a broad understanding of trading softwares like Amibroker, Ninjatrader, Esignal, Metastock, Motivewave, Market Analyst(Optuma),Metatrader,Tradingivew,Python and understands individual needs of traders and investors utilizing a wide range of methodologies.

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