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Analysing NF using iCharts levels - Aug 2011 |
guru.july
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Post: #76  Posted: Tue Aug 16, 2011 2:56 pm Post subject: |
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| SwingTrader wrote: | NF has hit BEAR level, time to tighten SLs / book profits etc as we have significant support in this price range (BEAR-S1)....watch for a probable reversal to the upside from here.
Serious down move now only if we break below S1. |
I've fixed my stop loss to BEAR . Hoping for a break of S1. |
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guru.july
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| Post: #77 Posted: Tue Aug 16, 2011 3:14 pm Post subject: |
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It broke S1 and touched S2. Booked @ 5020. That's 60 points profit today.  Thanks ST |
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SwingTrader
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| Post: #78 Posted: Tue Aug 16, 2011 3:41 pm Post subject: |
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| guru.july wrote: | | It broke S1 and touched S2. Booked @ 5020. That's 60 points profit today. Thanks ST |
Great!!! good work.
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Srikanth Kurdukar
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satishboda
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| Post: #79 Posted: Wed Aug 17, 2011 9:40 am Post subject: |
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| what are the levels for today...Thanks in advance. |
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guru.july
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| Post: #80 Posted: Wed Aug 17, 2011 9:44 am Post subject: |
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| satishboda wrote: | | what are the levels for today...Thanks in advance. |
R5 5186.36
R4 5146.57
R3 5106.78
R2 5082.19
R1 5066.99
BULL 5051.79
LOC 5034.8
BEAR 5017.81
S1 5002.61
S2 4987.41
S3 4962.82
S4 4923.03
S5 4883.24 |
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SwingTrader
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| Post: #81 Posted: Wed Aug 17, 2011 9:48 am Post subject: |
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NF turning down from BULL-R1. A word of caution, the levels are close to each other today....concentrate only on the key bands - BULL-R1 and BEAR-S1. Since the levels are close to each other the price might move across the levels creating whipsaws.
More later....
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Srikanth Kurdukar
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guru.july
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| Post: #82 Posted: Wed Aug 17, 2011 9:49 am Post subject: |
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Hi ST,
NF between LOC & BUll.... Is Bull-R1 a tough resistance? Will it be a downward flow like previous days below LOC? |
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SwingTrader
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| Post: #83 Posted: Wed Aug 17, 2011 9:54 am Post subject: |
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| guru.july wrote: | Hi ST,
NF between LOC & BUll.... Is Bull-R1 a tough resistance? Will it be a downward flow like previous days below LOC? |
Yes, as of now, BULL-R1 range is going to be the main resistance. The trend is sideways to down until we hit BEAR-S1 where we may find support or clear R1 and go higher.
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Srikanth Kurdukar
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SwingTrader
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| Post: #84 Posted: Wed Aug 17, 2011 10:14 am Post subject: |
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BULL-R1 now support...trend is up until BULL breaks.
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Srikanth Kurdukar
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guru.july
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| Post: #85 Posted: Wed Aug 17, 2011 10:28 am Post subject: |
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| SwingTrader wrote: | | BULL-R1 now support...trend is up until BULL breaks. |
I think the price will touch 34EMA on 5TF and again zoot up. |
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guru.july
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| Post: #86 Posted: Wed Aug 17, 2011 10:49 am Post subject: |
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| It exactly did |
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SwingTrader
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| Post: #87 Posted: Wed Aug 17, 2011 11:05 am Post subject: |
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SL now must be just below R3 as R3 is important level, if it breaks now we may get a deep pullback.
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Srikanth Kurdukar
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guru.july
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| Post: #88 Posted: Wed Aug 17, 2011 11:12 am Post subject: |
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| SwingTrader wrote: | | SL now must be just below R3 as R3 is important level, if it breaks now we may get a deep pullback. |
I covered at 5112. Both RSI & Stoch exhausted. 40 points profit is enough for today. Thanks ST. |
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ongc123
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Joined: 02 Dec 2010
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| Post: #89 Posted: Wed Aug 17, 2011 11:45 am Post subject: |
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| Swing Broo can i Buy at 5072 rite now with SL Bull Level5051 ?? thanxs in advance |
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SwingTrader
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| Post: #90 Posted: Wed Aug 17, 2011 12:59 pm Post subject: |
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| ongc123 wrote: | | Swing Broo can i Buy at 5072 rite now with SL Bull Level5051 ?? thanxs in advance |
I was not at my desk....I hope you did not buy at BULL Actually if a reversal had happened at BULL and price had broken above R1 then one could have bought there. Now if we get a reversal around BEAR-S1 then one can buy as BEAR-S1 is major support area.
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Srikanth Kurdukar
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