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Nifty View - August Series 2013 |
vinay28
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Joined: 24 Dec 2010
Posts: 11748
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Post: #241  Posted: Thu Aug 08, 2013 8:52 pm Post subject: |
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| Though daily candle of nifty spot is non-descriptive, that of nifty fut is an inside bar. |
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saumya12
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Joined: 21 Dec 2011
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| Post: #242 Posted: Thu Aug 08, 2013 8:59 pm Post subject: |
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| vinay28 wrote: | | Though daily candle of nifty spot is non-descriptive, that of nifty fut is an inside bar. |
Nifty spot candle is bullish engulfing
while Nifty Future candle is inside bar + NR7 |
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apka
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Joined: 13 Dec 2011
Posts: 6137
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| Post: #243 Posted: Thu Aug 08, 2013 9:05 pm Post subject: |
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| saumya12 wrote: | | vinay28 wrote: | | Though daily candle of nifty spot is non-descriptive, that of nifty fut is an inside bar. |
Nifty spot candle is bullish engulfing
while Nifty Future candle is inside bar + NR7 |
and bank nifty spot is also NR7 and inside bar.
can nifty spot be counted as bullish engulfing considering that yesterdays low is well below by 25 points to today's low, it isn't engulfing it completely. |
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vinay28
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| Post: #244 Posted: Thu Aug 08, 2013 9:07 pm Post subject: |
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| apka wrote: | | saumya12 wrote: | | vinay28 wrote: | | Though daily candle of nifty spot is non-descriptive, that of nifty fut is an inside bar. |
Nifty spot candle is bullish engulfing
while Nifty Future candle is inside bar + NR7 |
and bank nifty spot is also NR7 and inside bar.
can nifty spot be counted as bullish engulfing considering that yesterdays low is well below by 25 points to today's low, it isn't engulfing it completely. |
it's not bullish engulfing.
saumya, where have you been hiding? pl come out of japani badal.  |
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saumya12
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Joined: 21 Dec 2011
Posts: 1509
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| Post: #245 Posted: Thu Aug 08, 2013 9:22 pm Post subject: |
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| vinay28 wrote: | | apka wrote: | | saumya12 wrote: | | vinay28 wrote: | | Though daily candle of nifty spot is non-descriptive, that of nifty fut is an inside bar. |
Nifty spot candle is bullish engulfing
while Nifty Future candle is inside bar + NR7 |
and bank nifty spot is also NR7 and inside bar.
can nifty spot be counted as bullish engulfing considering that yesterdays low is well below by 25 points to today's low, it isn't engulfing it completely. |
it's not bullish engulfing.
saumya, where have you been hiding? pl come out of japani badal. |
Here are 2 documents in support of my view. |
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saumya12
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| Post: #246 Posted: Thu Aug 08, 2013 9:31 pm Post subject: |
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For japani baadal
I am waiting for my todays data of NIFTY spot.
But there is nothing particular to say as far as Ichimoku is concerned.
Daily NF charts shows more fall but Hourly chart shows support at present level of 5572. |
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vinay28
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Joined: 24 Dec 2010
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| Post: #247 Posted: Thu Aug 08, 2013 9:34 pm Post subject: |
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| saumya12 wrote: | | Here are 2 documents in support of my view. |
I don't agree with whoever has commented like that, whoever he/she may be. If you are long as I am, I will be happy to see nifty go up but not because it is an engulfing candle. japanese candles do fail and it may go up for variety of reasons.
as a "mandoli", call it imperfect engulfing candle. |
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pkholla
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Joined: 04 Nov 2010
Posts: 2890
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| Post: #248 Posted: Thu Aug 08, 2013 9:52 pm Post subject: |
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| vinay28 wrote: | | saumya, where have you been hiding? |
I have observed that Saumya only posts when she has something constructive to say. Cheers, Prakash Holla |
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apka
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Joined: 13 Dec 2011
Posts: 6137
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| Post: #249 Posted: Thu Aug 08, 2013 10:09 pm Post subject: |
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| pkholla wrote: | | vinay28 wrote: | | saumya, where have you been hiding? |
I have observed that Saumya only posts when she has something constructive to say. Cheers, Prakash Holla |
yeh, you should also do that sometimes  |
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vinay28
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Posts: 11748
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| Post: #250 Posted: Thu Aug 08, 2013 10:21 pm Post subject: |
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| apka wrote: | anybody knows what it means
| Quote: | The Reserve Bank of India announced on Thursday new measures to drain cash from the financial system in a bid to address volatility in currency markets, following up on a slew of steps announced last month.
The central bank will auction 220 billion rupees of government cash management bills every Monday, it said in a statement, without specifying for how many weeks the sales would last.
The duration of cash management bill sale will be announced one day before the auction, it said.
The rupee closed at 60.88/89 per dollar on Thursday, compared with 61.30/31 on Wednesday.
($1 = 61.2050 Indian rupees) |
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my dear apka, I had posted few days ago that period 8/8 to 17/9 is crucial. remember or have you forgotten?
Now read this and your eyes will open.
http://www.livemint.com/Politics/3t3wdkCnEx6Z4XsZkLtGZJ/RBI-to-auction-shortterm-bills-to-drain-liquidity.html |
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apka
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Posts: 6137
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| Post: #251 Posted: Thu Aug 08, 2013 11:59 pm Post subject: |
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i remember the period....
but i am not understanding its effect on banks, is it equivalent to what previous 2 measures did, i am not understanding the hardcore banking terms like CMB, i am not from banking or accounts. just wanted the "how" part filled as layman. |
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vinay28
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apka
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| Post: #253 Posted: Fri Aug 09, 2013 11:30 am Post subject: |
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yes teacher!
| vinay28 wrote: | The auction is intended to suck liquidity but note that banks are NOT obliged to make an offer if the govt bonds/securities/deposits they own have already reached the limit stipulated by RBI. The real intention is however to drain liquidty used in currency speculation. The short term rates will shoot up but the danger is defaults. Danger of slowdown is factored already.
Incidentally, banks START performing better when rates go up as they get a huge amount of deposits from public. But the immediate impact on bank share price is unknown. sgxnifty had a kneejerk reaction after the news but improved later. |
yes, now it's clear a bit. thanks. that is what was confusing me as to how it will drain the liquidity readily, like crr repo rates which have direct impact, unless banks are obligated to take it up.
then i suppose the impact on banks is not fixed, because the banks may not take it up, except PSU banks. So monday we have SBIN result and auction process news, after 2 NR7 + inside bar on bank nifty. lovely. |
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pkholla
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Joined: 04 Nov 2010
Posts: 2890
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| Post: #254 Posted: Fri Aug 09, 2013 5:15 pm Post subject: |
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| apka wrote: | | vinay28 wrote: | | I am also not a finance guy but that doesn't mean you shouldn't learn. |
yes teacher! |
Yes, Master Vinay Sir! |
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apka
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Joined: 13 Dec 2011
Posts: 6137
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| Post: #255 Posted: Fri Aug 09, 2013 5:28 pm Post subject: |
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| apka wrote: | | pkholla wrote: | | vinay28 wrote: | | saumya, where have you been hiding? |
I have observed that Saumya only posts when she has something constructive to say. Cheers, Prakash Holla |
yeh, you should also do that sometimes |
weren't there others active in our monthly threads like maddyprincess? |
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