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SP50
Brown Belt
Joined: 26 Nov 2010
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Post: #61  Posted: Mon Feb 04, 2013 11:34 am Post subject: |
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| Individual Nifty stocks under pressure. Weak ones clubbed and if there is any sign of weakness overseas the strong ones will be sold. |
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skd2012
Yellow Belt
Joined: 03 Oct 2012
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| Post: #62 Posted: Mon Feb 04, 2013 11:41 am Post subject: |
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| One thing, market can always defy this, but after many days NIFTY seems to have broken the trend on Friday;s candle. Though we are not very far from swing high, but it was an early indication of trend changing, it will be nullified once we go above the recent high. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #63 Posted: Mon Feb 04, 2013 11:47 am Post subject: |
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The market has to trade above 6042 for any kinda positive sentiment, I feel. If it trades above 6042, then the range 6074-6084, which is a key resistance area, could be tested. On the downside, levels around 5980 will provide the major support below that we may test 5935-5915 area. I expect some kinda buying to emerge in the second half of the day if we hold 6000-6005 levels.....anyway, let's wait and see how it goes...  |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #64 Posted: Mon Feb 04, 2013 12:01 pm Post subject: |
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| may be after today's gap is filled |
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skd2012
Yellow Belt
Joined: 03 Oct 2012
Posts: 948
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| Post: #65 Posted: Mon Feb 04, 2013 12:04 pm Post subject: |
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| I feel we can go upto 5990-6005 NF range today..but one can go wrong in intrday moves. |
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apka
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Joined: 13 Dec 2011
Posts: 6137
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| Post: #66 Posted: Mon Feb 04, 2013 12:06 pm Post subject: |
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| SBI has broken its 50ema, it maybe heading for 2310 and so nifty/banknifty will also see pressure. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #67 Posted: Mon Feb 04, 2013 12:12 pm Post subject: |
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| apka wrote: | | SBI has broken its 50ema, it maybe heading for 2310 and so nifty/banknifty will also see pressure. |
Yes, Apka....the stock is looking weak for sure....but I wont be surprised if I see the stock giving some bounce-back to 2425 or so before heading for 2310 or 2320.....cos in the lower TFs, the stock is looking extremely over-sold.....having said that the selling pressure can continue even when the stock is over-sold...so, let's wait and see... |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #68 Posted: Mon Feb 04, 2013 12:31 pm Post subject: |
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| is there a +ve div on sbin? In which case it may breakout? |
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psalm
Black Belt
Joined: 12 Nov 2011
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| Post: #69 Posted: Mon Feb 04, 2013 12:44 pm Post subject: |
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| vinay28 wrote: | | is there a +ve div on sbin? In which case it may breakout? |
If there is any upmove, it will only be a pullback, I feel.....any kinda breakout look very much difficult from here.....I'll give it a very low probability....2435 was a target and a key level for that stock when it was going down...now I see the stock finding difficult to break above 2435-2440 on a sustainable basis.....but the stock may test that range soon..... |
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apka
Black Belt
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Posts: 6137
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| Post: #70 Posted: Mon Feb 04, 2013 1:21 pm Post subject: |
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there is some so it may slow down.
hang seng from +250 to -120 crash and burn. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #71 Posted: Mon Feb 04, 2013 1:34 pm Post subject: |
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| apka wrote: | there is some so it may slow down.
hang seng from +250 to -120 crash and burn. |
Apka, for Hang Seng, the area 24000 and 24260 (1% range) is an extremely strong resistance area. I'll be really surprised if the index makes Weekly closing above 24261. Similarly, Shanghai is also heading for its major resistance zone of 2450-2480....but since it is in the last leg of the upmove, it may give violent moves on the upside....so, Shanghai may move up even higher...but Hang Seng's upmove look limited beyond 24260 or so....anyway, let's wait and see.... |
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skd2012
Yellow Belt
Joined: 03 Oct 2012
Posts: 948
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| Post: #72 Posted: Mon Feb 04, 2013 2:26 pm Post subject: |
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| sw_das wrote: | | I feel we can go upto 5990-6005 NF range today..but one can go wrong in intrday moves. |
 We are there 
Do not expect to break 5990 NF, other wise it will be good cut to 5940 NF.. I do not expect though. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #73 Posted: Mon Feb 04, 2013 2:41 pm Post subject: |
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| If you're a short term trader and are bullish about the market's prospects, then the next 10 or 15 points on the downside could be a buying opportunity with a tight stoploss. If there is some bouncebacks, one might get 80 or 100 points on the upside, I feel.....Having said that one should be careful as well, cos catching a falling knife is always dangerous.... |
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SP50
Brown Belt
Joined: 26 Nov 2010
Posts: 1615
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| Post: #74 Posted: Mon Feb 04, 2013 3:24 pm Post subject: |
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| psalm wrote: | | If you're a short term trader and are bullish about the market's prospects, then the next 10 or 15 points on the downside could be a buying opportunity with a tight stoploss. If there is some bouncebacks, one might get 80 or 100 points on the upside, I feel.....Having said that one should be careful as well, cos catching a falling knife is always dangerous.... |
Buying with tight stop looks good.  |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #75 Posted: Mon Feb 04, 2013 3:30 pm Post subject: |
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| taxmann50 wrote: | | psalm wrote: | | If you're a short term trader and are bullish about the market's prospects, then the next 10 or 15 points on the downside could be a buying opportunity with a tight stoploss. If there is some bouncebacks, one might get 80 or 100 points on the upside, I feel.....Having said that one should be careful as well, cos catching a falling knife is always dangerous.... |
Buying with tight stop looks good. |
If one is looking to initiate some position for tomorrow, that is the only suggestion for me, Taxamann....but again, its risk as well....anyway, initiating shorts doesn't look like a good idea...but if you're already short positionally, then its definitely a HOLD...but wont suggest initiate fresh shorts here...especially today.... |
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