iCharts Discussions

[skd2012]

[skd2012]

NF 6000 done

[SP50]

Will this be the last frontier?

[vinay28]

either first 6150 or 5825 by 19/12 but if it is 6150 first then 5876 may not be broken in Dec.

[psalm]

[skd2012]

[vinay28]

I feel one can buy a small qty now. and hope for a reversal soon.

[apka]

nifty chakma diya, went up crossed 6000 fut and down

[skd2012]

I guess more distributions are likely to deceive some.

[psalm]

For the day, the market has reasonable support in the range 5890-5900 on a CLOSING basis. A close below 5900 will indicate weakness while a close below 5890 will confirm weakness. On the upside, as expected the market did find resistance around 5965 levels. I still believe that as long as we hold 5965 levels on the upside, there wont be any sustainable upmoves. A few days back, I had posted Nifty forming some kinda HNS. That structure is not yet destroyed. So, I still feel that as long as we're trading like this, there is every chance of us testing my Jan Target of 5330-5250 levels....Having said that, the margin for error here is very thin...so, a good move on a particular day can change this equation...but as of now, I still feel that there is good chance of us testing 5200 odd levels in January.....The good thing about taking this trade is that there is nothing much to lose from here....

NOTE: Two weeks back itself, I had mentioned that 5915-5965 will be the target for Nifty, though I was skeptical of Nifty reaching there.....A good break above 5965-5970 will mean Nifty testing 6150 levels with levels around 6000 offering minor resistance. I don't know which way, the market will go...but the odds are favouring a reversal....anyway, let's wait and see where we will be by the end of January....

[skd2012]

How much more down side?

[psalm]

[stevenmat]

now that's a big U turn

[psalm]

[stevenmat]