iCharts Discussions

shashangan · Posted: Tue Nov 27, 2012 3:31 pm Post subject:

But again, Dow is also on a bull trend, it's not showing full confirmation of a top, but there is a small chance it can top out for a small correction, have to see how it closes today & tomorrow's move.

Shall update you. If you are lucky you may get even lower prices, but let's not think of that, we will look at a exit with a small profit.

Gautham Shashangan

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

gautham, I presume you are talking about carrying shorts

shashangan · Posted: Tue Nov 27, 2012 3:35 pm Post subject:

There was a little doubt in my mind, Just lost the focus, shall be careful next time.

Ok enjoy your evening. Shall check the mkt later & update. I am off for now.

Thanks
Gautham Shashangan

shashangan · Posted: Tue Nov 27, 2012 3:37 pm Post subject:

Yes Vinay

There is an small correction pending, just the risk is of world mkt.s. 5735 is possible i feel. Anyway shall check everything & confirm, what the possiblities are. If Dow & Nasdaq supports probably lower. Dow chart looks ok Nasdaq a little dicey. But it's early, will tell seeing in the evening.

Dont worry. Things will be fine. Bye for now

Gautham Shashangan

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

anyway, I hedged at the end as I too feel NS may come down to about 5710 before closing above 5767. This will hopefully take care of large gap up/down opening, if any. Let's see how it works out.

acharyams · Yellow Belt Joined: 04 Jul 2010 Posts: 552

dow down a bit

shashangan · Posted: Tue Nov 27, 2012 9:29 pm Post subject:

Yes I am watching. We have to wait till closing though. I wish there was market tomorrow. There can be a small problem, if Dow closes down or bear today, it can try & recover to close bull again tomorrow.

So Nifty open on Thursday will consider Wednesday's i.e tomorrow's close which if Dow closes above will be bad.

Thursday & Friday or Monday Dow will make a good correction. The Nifty on its own for thursday, friday will look bullish. So trying to figure out. It's a total confusion to calculate the influence of currencies & other mkts on Nifty.

So best thing to do is just watch & hope for the best. I wish Dow breaks strongly below yesterday's low of 12869 & pull back at close to close a little higher & make a sharp rally tomorrow & pull back & close lower as a small bull or even a bear again. Then it would be perfect for Nifty.

Too early to say anything, but yes right now Dow looks weak & it can actually be near a short term top, but we need a move which favors friday open of Nifty. Let's see.

Gautham Shashangan

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

Gautham, why r u talking about friday. why not thursday when nifty opens?

shashangan · Posted: Tue Nov 27, 2012 9:45 pm Post subject:

Oh I am sorry It's thursday. I was thinking today is wednesday. Hold on I am fully confused trying to calculate possiblities. The issue is tomorrow's holiday. Is there any partial mkt open tomorrow for Nifty.

Gautham Shashangan

shashangan · Posted: Tue Nov 27, 2012 10:07 pm Post subject:

If you consider short term or based on intra day charts for Nifty on its own, a correction is definitely due to minimum 5742-40 target for Dec. It may even try around 5720 region but that could be a little far fetched for now.

Let's just stay calm & watch what happens with Dow first & also with Nifty on Thursday. I shall keep updating once I figure out clearly what can happen. Right now I am confused breaking my head of calculating possiblities. It's of no use, rather I do it tomorrow after Dow close.

We will see, but I doubt a big gap up open & even if it does it will fill the gap down before going up, so we should get our levels or nearby.

Gautham Shashangan

acharyams · Yellow Belt Joined: 04 Jul 2010 Posts: 552

thursday target 5770 is also in place,na?
missed better part

shashangan · Posted: Tue Nov 27, 2012 10:49 pm Post subject:

Yes but if there was continuation then the correction would have happened. But just relax till tomorrow late evening. No point of watching Dow today & dont break your head. Forget Nifty for now & Go catch a peaceful sleep. We will find a way out.

Gautham Shashangan

saumya12 · Brown Belt Joined: 21 Dec 2011 Posts: 1509

shashangan · Posted: Tue Nov 27, 2012 11:33 pm Post subject:

Hello Saumya,

I meant if the mkt opens 5785 eg. on thursday, it will come back to fill the gap of min 5771 today's closing. The chances of gapping up & continuing without correcting down could be remote, though a possibility.

Thanks
Gautham Shashangan

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

I think it is better to judge nifty on its own rather than on dow. May be at the most on sgxnifty but its volume is too low.