Ichimoku Std Chart
Price down. This week, am going to just track this regression channel. Last three weeks attempt to break upwards is failed and hence it may be profitable to watch movements on this track. Any breach of 4720 will see free fall towards 3990 levels (a possibility existing and indicated many weeks earlier - search earlier posts) as Nifty will be driving down the track of earlier express highway wherein nifty rallied from 3918 to 5195. Two major supports (or rests ) lie at 4675 & 3990 with intermittent halt at 4380 levels. (Probably nifty is catching F1 race fever....!!!!) Cloud Gap remains at 257 indicating continuation of high volatility. On positive side, 4800 is not broken and with daily showing some chances of bounce, probability of positive close this week, also exists. Hence am planning to watch this regression drive. Extremely cautious times for long traders.
Ichimoku Short Param Chart
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