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Nifty View - August '15 Series |
vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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Post: #31  Posted: Mon Aug 24, 2015 6:49 pm Post subject: |
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| The last hope, otherwise 7300 is coming ......... to begin with. |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #32 Posted: Mon Aug 24, 2015 7:38 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 Tuesday (25/08/15) and beyond
Supports are at about 7747, 7695 and 7585 while resistances are at about 7823, 7882, 7928, 7993 and 8174. Unfilled gap on lower side are at about 7625/7568 while a previous low is at about 7723. (+WWs with higher targets are not mentioned as of now). A -WW can give 7715 (-WWs with lower targets are not mentioned as of now). A HnS can give about 7300 if nifty sustains below 8000.
Nifty collapsed in spite of a huge gap down open and closed just above 7800. Nifty seems headed further down as if there is no tomorrow. The bullish div is very strong and nifty is highly oversold and we may see a sharp reversal soon. However, strong buying has to emerge. Only some +ve major news event can save nifty. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully, this being expiry week. |
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opportunist
White Belt
Joined: 27 Apr 2010
Posts: 356
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| Post: #33 Posted: Mon Aug 24, 2015 7:50 pm Post subject: |
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| vinay28 wrote: | This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.
Nifty for Tuesday (25/08/15) and beyond
Supports are at about 7747, 7695 and 7585 while resistances are at about 7823, 7882, 7928, 7993 and 8174. Unfilled gap on lower side are at about 7625/7568 while a previous low is at about 7723. (+WWs with higher targets are not mentioned as of now). A -WW can give 7715 (-WWs with lower targets are not mentioned as of now). A HnS can give about 7300 if nifty sustains below 8000.
Nifty collapsed in spite of a huge gap down open and closed just above 7800. Nifty seems headed further down as if there is no tomorrow. The bullish div is very strong and nifty is highly oversold and we may see a sharp reversal soon. However, strong buying has to emerge. Only some +ve major news event can save nifty. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully, this being expiry week. |
Vinay what exactly is the action we are supposed to take from the above advise especially since yesterday all your supports etc. were bulldozed out. It is easy to give three four targets and methods to justify them but to give a good advise one must take ONE strong stand and stick to it. |
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chandrujimrc
Brown Belt
Joined: 21 Apr 2009
Posts: 1683
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| Post: #34 Posted: Mon Aug 24, 2015 8:01 pm Post subject: |
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Dear Friends,
By considering the following points in nifty charts,find out the hot spot for reversal.
1.RSI below 25. 2.Two consecutive days down without touching 3DMA. 3.Upward flag pattern. 4.Nearby to the lower trend line. |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #35 Posted: Mon Aug 24, 2015 8:06 pm Post subject: |
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| opportunist wrote: | | Vinay what exactly is the action we are supposed to take from the above advise especially since yesterday all your supports etc. were bulldozed out. It is easy to give three four targets and methods to justify them but to give a good advise one must take ONE strong stand and stick to it. |
oppo, my post gives likely scenario on either side as I do not decide where market will go. To me, it is always a matter of what level(s) are broken on the up or down. What I do (i.e. my trade), I often post but otherwise it is left to individual's strategies and convictions. I don't give advice on what to do. |
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ankur11_11
White Belt
Joined: 11 Jan 2010
Posts: 146
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| Post: #36 Posted: Tue Aug 25, 2015 8:01 am Post subject: |
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| chandrujimrc wrote: | Dear Friends,
By considering the following points in nifty charts,find out the hot spot for reversal.
1.RSI below 25. 2.Two consecutive days down without touching 3DMA. 3.Upward flag pattern. 4.Nearby to the lower trend line. |
hello friend ,
it is not the time for searching for the reversal point. Yesterday i saw no less than 20 people in our office to dive in hope of reversal.... they all had their own point of vision.when they were buying , they were fully confident - within 30 mins they not only gave up all hope also they denied to book loss as i told them to do, they looked at me in such a way as if i was the enemy lol .....
Market mocks at everything ...... my system sell signal came around 8372 - i sold and entered in the market with few of these people. others said ... we will not sell here , we will sell at 8540 around lol ... next day .... nifty drops and my companions booked profit and insisted me to do so.
i am too dumb for the market .... i did not ... at the days end market recovers a lot and all day they mocked at me. as if they saw market is now heading towards 8540 again from next day.
Next day they were searching for the sweet spot of reversal and entering in different psychological levels they have (i have no idea) ... and they were getting trapped at every level they had.
I am tired enough to stop them .... viewing almost similar attempt ... i am trying again to stop you ......
If you have a system (simple is good).... back test it ... see if it is profitable or not
Buy when signal comes
Sell when signal comes
Be with the trend
There is no boss of the Market.
Kill your mind while trading
Vinays post of Nifty view is very helpful for me , because it helps me to erase any inclination towards either bull or bear mindset.
Namaste |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #37 Posted: Tue Aug 25, 2015 8:19 am Post subject: |
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tks ankur.
sgx made a low of 7330 yesterday and now 7940. that's vagaries of the market for you. |
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udaysahai
White Belt
Joined: 01 Feb 2011
Posts: 105
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| Post: #38 Posted: Tue Aug 25, 2015 8:53 am Post subject: |
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Dear Vinayji,
Though I keep following your posts I am posting for the first time on your topic, just few words......Brilliant analysis, unbiased and to the point....
Thanks and best regards, keep up the good work. |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #39 Posted: Tue Aug 25, 2015 8:59 am Post subject: |
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| udaysahai wrote: | Dear Vinayji,
Though I keep following your posts I am posting for the first time on your topic, just few words......Brilliant analysis, unbiased and to the point....
Thanks and best regards, keep up the good work. |
tks uday. |
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opportunist
White Belt
Joined: 27 Apr 2010
Posts: 356
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| Post: #40 Posted: Tue Aug 25, 2015 2:01 pm Post subject: |
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| This should happen now. Inverted cup |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #41 Posted: Tue Aug 25, 2015 7:24 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 Wednesday (26/08/15) and beyond
Supports are at about 7845, 7820, 7784, 7740 and 7720 while resistances are at about 7965, 7985, 8050, 8085 and 8145. Unfilled gap on lower side is at about 7625 while a previous low is at about 7540. Three +WWs can give about 7928 and 8047/94 (if above 7845) (+WWs with higher targets are not mentioned as of now). Two -WWs can give 7815/7758 (if below 7907) (-WWs with lower targets are not mentioned as of now). An IHnS can give about 8020 if nifty sustains above 7910 while a HnS can give about 7300 if nifty sustains below 8000.
Nifty fell sharply after a big gap up open only to recover equally sharply and closed well above 7850. Nifty is not out of the woods yet. However, daily candle is a big hammer with a +ve div and a strong volume. Also, the bullish div continues. Hence, we may see further upmove. Nifty needs to close above 7965 to begin with. However, only strong buying and/or some +ve major news event can save nifty. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully, this being expiry week. |
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ankur11_11
White Belt
Joined: 11 Jan 2010
Posts: 146
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| Post: #42 Posted: Wed Aug 26, 2015 4:02 am Post subject: |
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i have gone long now , will have a cup of tea only if oppertunist's prediction becomes right lol.  |
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riteshucha
Green Belt
Joined: 19 May 2012
Posts: 1292
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| Post: #43 Posted: Wed Aug 26, 2015 4:14 pm Post subject: |
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yest somebody sold 7900 ce and we saw a flash low of 30 rs... today NS made exact high of 7930 and came down...
now today if take the exact calculation, then 7800 pe high is 86 today... meaning till 7714 NS is held, big bulls wont cover and...
if avg is taken for 7800 PE at 42, then first support of NS should come to 7758...
upside, NS first resistance should be around 7885 as 7800 ce avg is around 85...
lets see how it plays tomm...
i may be absolutely wrong... pls do not trade basis on this... this is a merely an observation.... |
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ankur11_11
White Belt
Joined: 11 Jan 2010
Posts: 146
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| Post: #44 Posted: Wed Aug 26, 2015 4:43 pm Post subject: |
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My system generate SL of long  .... and position is sold again.... personally i am wondering where a n oversold nifty might go ! 7300 !  |
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opportunist
White Belt
Joined: 27 Apr 2010
Posts: 356
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| Post: #45 Posted: Wed Aug 26, 2015 5:00 pm Post subject: |
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As predicted, the inverted cup happened.
Regards,
Oppo |
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