Daily Ultimate Osc seems to be turning up. Weekly Ultimate Osc on support line. OTM put value is ripe for some premium eating. Remember first week is option premium eating week and the movements can be tailor made for that. Nifty tested all bollinger band lower levels on daily and 3,5,8 period levels on weekly.
Nifty getting oversold on Daily Chart but on weekly it is still unclear. Ultimate Osc on daily is almost near to oversold levels and on weekly is reaching support levels. It is good to test few supports before making new moves. Next week will exactly tell us that if nifty makes new moves in upside.
Added Nifty Options maths to chew on. It is important to notice that Money value in Puts is very high and it is time to eat some premium. Follow the Nifty Options dynamics on this blog for a better picture with Nifty technicals.
Markets took support on 21 EMA yesterday and tested it again today. Are we on for a new high? Ultimate Osc on daily reaching oversold levels and has been reversing without getting oversold since june and each time Nifty has made a new high. These are probabilities and should be treated as that. The best way is to follow the EMA and Bollinger Band levels which has provided light in such confusing times.
Added 5Day yahoo chart. Shows clearly that nifty is above 390 min MA and EMA. Another surprise for me was that 390 min EMA has been above 390 min MA. Is there a surprise in store for the bears who are waiting since long?
URL for 5Day yahoo chart
http://finance.yahoo.com/q/ta?s=%5ENSEI&t=5d&l=on&z=m&q=c&p=e60,e390,m390&a=m26-12-9,r14,ss,fs&c=
Daily and weekly Ultimate OSc turning down. Watchout for any bounces as Price has tested 21 D EMA. If the rally has to continue it will not reach oversold levels for Ultimate Osc
My apologies for not being able to post charts for today as blogger didn't seem to be working last night. If such a scenario happens then please extract the charts yourself with the given parameters or use the same levels as the levels do not change drastically on a daily basis.
Ultimate Osc overbought on both daily and weekly charts. Time to be cautious.
Ultimate Osc overbought omn daily and weekly charts. Time to be cautious.
Daily and weekly ultimate Osc getting overbought. Watch the levels and play accordingly. Market showing volatility will be order of day in coming days. Be careful, gains may quickly vanish.
Weekly Ultimate Osc reaches resistance level. Watchout for upper bollinger band levels for top. Daily ultimate osc to give clue in the coming two days. Beware of going long at higher levels. Next two days can be very important for sentiment.
Please note that Trix has turned negative on daily. Daily Ultimate Osc going down. One of these days there might be a big down day. Watch out for lower bollinger band levels for exact levels.
Daily Ultimate Osc seems to be turning down after hitting resistance. Weekly Ultimate Osc is still divergent from Daily Ultimate Osc. Watchout for any bounce from lower bollinger bands.
Happy Independence Day!!!
A deciding week in offing. Daily and weekly Osc seems to be on different path. Something has to get straight, probably Daily will follow weekly in a day or two.
Important to note is the doji formation on weekly chart. Will it pave the way for a bearish week?
Nifty tested exactly bollinger band levels and EMA levels as shown in yesterday's charts. Weekly Ultimate Osc still in down trend. Daily Ultimate Osc still undecided. Daily trix is almost on zero line and can dictate terms in coming days.Tomorrow should clear out few things.
Daily and Weekly Ultimate Osc turns down. Watch Lower bollinger band levels for selling targets and EMA levels for any bounces. Added EMA 34,55 & 89 and bollinger band levels for reference.
Weekly Ultimate Osc turns down. We have been testing Upper Bands till now. Now watch EMA and Lower Bands.
Daily Ultimate Osc seems to be turning up. Weekly Ultimate OSc has clear negative divergence.
Bollinger Bands working to the T. Daily Ultimate Osc in downtrend, still some more time left for it becoming oversold. Weekly Ultimate Osc is the one we need to watch in coming days. Downtrend on that will be devastating for Nifty. Added 30 min chart for nifty for last 10 days.
Daily Ultimate Osc truns down from resistance. The only worry now is weekly Ultimate OSc. Ideally we should test Lower bollinger band level of period 21 i.e 5325.
Nifty might attempt ot test upper bollinger band mentioned on daily chart but should sell off from there.
Watchout for Trix going below zero in coming days which can accelerate down move.
Daily Ultimate Osc has reached resistance point. Watchout for Bollinger Band upper levels.
Daily Ultimate Osc turns down. Longs beware. Expecting weekly Ultimate OSc to turn down soon.
Its bad to get over excited. Today's market may have many thinking of very high targets but watch out. Bollinger band upper levels are not far away from today's close and ultimate osc reaching resistance levels are red signals which we must take in our calculations.
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