iCharts Discussions

[dynamite_munda11]

only above 7921/22/23/24/25 i would be looking at 7954/7969/8014/8044/8071/8104/8111/8141/8161/8206


let the mkt take out the lvl of 7921/7925

[vinay28]

Gap at 7874 filled up.

[apka]

bearish engulfing?

[vinay28]

[vinay28]

Nifty for Thursday (21/08/14)

Supports are at about 7855, 7828, 7767 and 7726 while resistances are at about 7908, 7925 and 7950. Four +WWs can give about 7897 (once above 7860), 7918/40 (once above 7877) and 8033 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7768 (once below 7892) and 7682 (once below 7831) (-WWs with much lower targets are not mentioned as of now). A bullish flag can give higher level unless killed below 7805. An IHnS can give about 8030-8200 in case nifty sustains above about 7880.

Nifty reacted after making a new all time high but closed below 7900. Bulls will take hope from the fact that though gap at 7874 was filled, nifty closed above it. The -ve div on daily and weekly still persists and RSI has not gone above 67.25. However, monthly chart is still good. A close below 7822 will bring bears and a close below 7746 will be bad. Liquidity is strong and one needs to be careful. We can also see wild intraday swings as nifty is still close to all time highs.

[vinay28]

Long holder should be careful by eod or early tmrw. I feel market will be nervous tmrw due Jackson hole and weekend. I also feel we may see a sharp spike down on Monday before recovery.

[manojkr78]

Vinay,

what levels are you expecting on the downside for monday??

[vinay28]

[apka]

[vinay28]

[vinay28]

Nifty for Friday (22/08/14)

Supports are at about 7846, 7826 and 7776 while resistances are at about 7901, 7925, 7938, 7960 and 8081. Three +WWs can give about 7914 (once above 7849), 7952 and 7970 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7769 (once below 7917) and 7668 (once below 7850) (-WWs with much lower targets are not mentioned as of now). A bullish flag can give higher level unless killed below 7805. An IHnS can give about 8030-8200 in case nifty sustains above about 7880.

Nifty rose a bit but closed below 7900 thereby giving hopes to bulls. Daily candle is Doji with a mild +ve div over last 2 days though the -ve div on daily and weekly over longer period still persists and RSI has not gone above 67.25. However, monthly chart is still good. Close above 7831 on Friday is good enough but a close above 7928 will be bullish. A close below 7822 will bring bears back and a close below 7746 will be bad. Market is likely to be nervous ahead of Jackson Hole meeting later at night. Liquidity is strong and one needs to be careful. We can also see wild intraday swings as nifty is still close to all time highs and next week being expiry.

[pkholla]

[apka]

Bank Nifty new high

[dynamite_munda11]

[vinay28]