iCharts Discussions

vince · White Belt Joined: 20 Aug 2006 Posts: 31

Hi Guys,

The nifty got a nice whack (long deserved ofcourse ) today. But no serious damage done yet.

I would be thinking of short positions only below 3320.

Any views ?

SwingTrader · Posted: Wed Sep 20, 2006 12:48 am Post subject:

Absolutely. Previous swing low is around 3328 (Sep 12th) and that seems to be the nearest significant support and if that goes then I will be looking to initiate shorts (NIFTY Futures).

vince · White Belt Joined: 20 Aug 2006 Posts: 31

O.K. , We had a swift recovery on the back of short covering. Even the nifty oct. fut are at a premium.

So what is going to fuel this rally further, either we have a convincing breakout above 3500 or its back to a ranging market.

I prefer to remain stock specific at the moment.

vince · White Belt Joined: 20 Aug 2006 Posts: 31

Here is an alternate view at Bartons asian stock market charts.

Any takes anyone ?

SwingTrader · Posted: Mon Oct 09, 2006 11:57 pm Post subject:

That chart sends a shiver down the spine....I mean thinking about the possible "double top". The magnitude of the drop can be huge. Let us hope our economy's internals are strong enough to withstand it, "IF" it happens.

vince · White Belt Joined: 20 Aug 2006 Posts: 31

IF at all this happens , I see a huge trading op. The quickest way to some of that green stuff is on the way down .

I am quite sure the markets will bounce back as always.

vince · White Belt Joined: 20 Aug 2006 Posts: 31

Thats how the nifty looks to me . Smile

Any comments, most welcome.