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Nifty View - April '15 Series |
vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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Post: #136  Posted: Thu Apr 30, 2015 7:07 pm Post subject: |
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| vinay28 wrote: | | chandrujimrc wrote: | Dear Vinay,
I think mkt will reverse at 200 Ema which is also the point 5 of EOD +WW for big rally with Divrg of RSI at 30. |
chandru, point 5 (about 8150 if happens today) is below 200 ema (about 8186) and in a very critical zone. Based on my finding over many years, if it even touches 8116, we will see more fall, albeit may be after a recovery of 300-500. But even if it breaches 8140, same may still happen. Today's low was 8221, very close to 8230 I posted yesterday. see charts posted yesterday. Keeping fingers crossed.
Note that monthly AT BO target of min 9240 was not reached. As of now, nifty is behaving like it did from Nov'13 to feb'14. |
Phew, that was close. Now I can blindly go long with SL of an intraday touch of 8116NS for a target of 10300-11800 by next Jan. Even if it touches 8116, it will reverse after some more fall and give a bounce of 300-500 points when I will cover longs and go short. Of course, since it came so close, there is no guarantee it won't fall more later but my confidence level will be boosted if there is no lower low next week and it crosses 8845 to begin with and then 8997/9120.
If, however, it touches 8116 then after a rally 7800/7600 may be certain. |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #137 Posted: Thu Apr 30, 2015 8:59 pm Post subject: |
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This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.
Nifty for Monday (04/05/15) and beyond
Supports are at about 8179, 8141, 8130, 8100 and 8052 while resistances are at about 8186, 8226, 8257, 8270 and 8310. 200 dma is at about 8270 while an unfilled gap on lower side is at about 8102. Three +WWs can give about 8314 (if above 8170), 8365 and 8532 (if above 8207) (+WWs with higher targets are not mentioned as of now). (-WWs with lower targets are not mentioned as of now). Two HnS can give about 7850/7750 if nifty sustains below 8350/8160.
Nifty fell again and closed below 8200 and also below 200 dma. Daily/ weekly/monthly candles are bearish and nifty seems certain to go down further. However, there is a +ve div on daily and we may see a reversal. A close above 8286 may give further rise. Monday's candle may also give some hint of the immediate term movement since it is the first day of the week/expiry/month. Global and local eco-political events can have a bearing on how nifty moves in short term. |
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manojrp
White Belt
Joined: 14 Mar 2012
Posts: 432
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NU2013
White Belt
Joined: 18 Jul 2013
Posts: 104
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| Post: #139 Posted: Thu Apr 30, 2015 9:44 pm Post subject: |
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| vinay28 wrote: | | vinay28 wrote: | | chandrujimrc wrote: | Dear Vinay,
I think mkt will reverse at 200 Ema which is also the point 5 of EOD +WW for big rally with Divrg of RSI at 30. |
chandru, point 5 (about 8150 if happens today) is below 200 ema (about 8186) and in a very critical zone. Based on my finding over many years, if it even touches 8116, we will see more fall, albeit may be after a recovery of 300-500. But even if it breaches 8140, same may still happen. Today's low was 8221, very close to 8230 I posted yesterday. see charts posted yesterday. Keeping fingers crossed.
Note that monthly AT BO target of min 9240 was not reached. As of now, nifty is behaving like it did from Nov'13 to feb'14. |
Phew, that was close. Now I can blindly go long with SL of an intraday touch of 8116NS for a target of 10300-11800 by next Jan. Even if it touches 8116, it will reverse after some more fall and give a bounce of 300-500 points when I will cover longs and go short. Of course, since it came so close, there is no guarantee it won't fall more later but my confidence level will be boosted if there is no lower low next week and it crosses 8845 to begin with and then 8997/9120.
If, however, it touches 8116 then after a rally 7800/7600 may be certain. |
Need to save this as a reminder for trading till Jan!!  |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #140 Posted: Fri May 01, 2015 3:51 pm Post subject: |
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| NU2013 wrote: | | vinay28 wrote: | | vinay28 wrote: | | chandrujimrc wrote: | Dear Vinay,
I think mkt will reverse at 200 Ema which is also the point 5 of EOD +WW for big rally with Divrg of RSI at 30. |
chandru, point 5 (about 8150 if happens today) is below 200 ema (about 8186) and in a very critical zone. Based on my finding over many years, if it even touches 8116, we will see more fall, albeit may be after a recovery of 300-500. But even if it breaches 8140, same may still happen. Today's low was 8221, very close to 8230 I posted yesterday. see charts posted yesterday. Keeping fingers crossed.
Note that monthly AT BO target of min 9240 was not reached. As of now, nifty is behaving like it did from Nov'13 to feb'14. |
Phew, that was close. Now I can blindly go long with SL of an intraday touch of 8116NS for a target of 10300-11800 by next Jan. Even if it touches 8116, it will reverse after some more fall and give a bounce of 300-500 points when I will cover longs and go short. Of course, since it came so close, there is no guarantee it won't fall more later but my confidence level will be boosted if there is no lower low next week and it crosses 8845 to begin with and then 8997/9120.
If, however, it touches 8116 then after a rally 7800/7600 may be certain. |
Need to save this as a reminder for trading till Jan!! |
Pl don't quote me!  |
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