iCharts Discussions

[vinay28]

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Friday (27/03/14) and beyond

Supports are at about 8300, 8278 and 8214 while resistances are at about 8389, 8403, 8453, 8487, 8564 and 8602. An unfilled gap on lower side is at about 8277. Five +WWs can give about 8425 (if above 8362), 8550/8650 (if above 8420), 8627 (if above 8440) and 8900 (if above 8448) (+WWs with higher targets are not mentioned as of now). A -WW can give about 8260 (-WWs with lower targets are not mentioned as of now). A bearish flag can give lower level unless killed above 8485.

Nifty fell sharply again and closed below 8350 and no respite seems in sight. However, RSI has gone below 30 on daily chart and a sharp reversal is expected any day. Friday has to close above 8396 to give hint of a relief rally. It, however, remains in a "sell on rise" stage unless it closes and sustains above 8684. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully since March is normally a month to book for income tax and NAV purposes.

[vinay28]

Is it over or another 50 or so down? But will it stop there? Premium too high.

[vinay28]

Triangle break outs. First one gave full target, reversed but partially and gave more while second did not give full target, reversed and then broke down to give almost full target. Will it reverse again now?

[saurabhkurichh]

Seriously , some sort of upside is surely justified

[vinay28]

[chandrujimrc]

Dear friends,

Nifty is marching towards 200 Dma,but before that today is eigth consecutive minus day.More over EOD Rsi is below 30.So any time mkt will try to give some pullback.So be alert.

[vinay28]

[riteshucha]

8277 gap filled

[chandrujimrc]

Dear Vinay,

You are correct,but whenever Eod Rsi reaching 25-30 lvl mkt will try to give some 300 point rally,otherwise we can expect 2nd bottom arround 200 Dma with Rsi divrg.

[vinay28]

[vinay28]

Three charts attached, daily, weekly and monthly. Self-explanatory. Interpret your own way.

[vinay28]

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Monday (30/03/14) and beyond

Supports are at about 8300, 8269 and 8197 while resistances are at about 8403, 8414, 8487, 8505 and 8540. Unfilled gap on higher/lower side are at about 8531/8102. Four +WWs can give about 8546 (if above 8402), 8559/8643 (if above 8368) and 8587 (if above 8457) (+WWs with higher targets are not mentioned as of now). (-WWs with lower targets are not mentioned as of now). A bearish flag can give lower level unless killed above 8485.

Nifty fell sharply in spite of a big gap up open but recovered to close flat and below 8350. Bearish tone will continue since monthly candle will be bearish engulfing. However, reversal came the moment RSI went below the level on 17/12 and daily candle is like a hammer and hence we need to see how far it reverses. It remains in a "sell on rise" mode unless it closes and sustains above 8684. Breaking and sustaining below 200 dma, which is at about 8170, can cause more fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully in view of the truncated week and since March is normally a month to book for income tax and NAV purposes.

[riteshucha]

sell only below 8560 SL days high...

little risky but if lucky can give good 50 / 70 / 90... below 8491, can slide down to 8450....

[NU2013]

[riteshucha]

booked 50% at 8509 rest TSL at 8552