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Nifty View February |
saumya12
Brown Belt
Joined: 21 Dec 2011
Posts: 1509
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Post: #676  Posted: Wed Feb 20, 2013 9:32 pm Post subject: |
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Today NIFTY FUT formed an NR7 pattern.
So there can be some wild movements tomorrow. |
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skd2012
Yellow Belt
Joined: 03 Oct 2012
Posts: 948
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| Post: #677 Posted: Wed Feb 20, 2013 10:18 pm Post subject: |
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| We added OI today as well. jerk up possible above 6000 this week I think. Does anyone also think the same? Expiry at lowest point? |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #678 Posted: Thu Feb 21, 2013 8:20 am Post subject: |
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| saumya12 wrote: | | apka wrote: | | possible HnS in making if close remains here about and starts going down in next 4-5 days |
On a larger time frame, you are right but look at the shorter time frame, just NF-feb month chart, you will find an IH&S in formation. Only right shoulder remains to form.
And the right half of IH&S is the left half of H&S. |
ok.
See the Dollar Index Weekly chart attached. Its going for a IHnS pattern. If it rises more by tomorrow, i guess it will complete and nifty making a HnS then seems more than likely in that case. |
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skd2012
Yellow Belt
Joined: 03 Oct 2012
Posts: 948
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| Post: #679 Posted: Thu Feb 21, 2013 8:41 am Post subject: |
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| apka wrote: | | saumya12 wrote: | | apka wrote: | | possible HnS in making if close remains here about and starts going down in next 4-5 days |
On a larger time frame, you are right but look at the shorter time frame, just NF-feb month chart, you will find an IH&S in formation. Only right shoulder remains to form.
And the right half of IH&S is the left half of H&S. |
ok.
See the Dollar Index Weekly chart attached. Its going for a IHnS pattern. If it rises more by tomorrow, i guess it will complete and nifty making a HnS then seems more than likely in that case. |
I guess NIFTY is such range-bound it can defy all patterns. So far it is maintaining LL LH pattern in hourly chart. It was pretty close to taking it out yesterday. But today's lower open may deter it. Will it make a new low now or it will take out some SLs by moving to 6000? It is confusing because of big news (budget ) on expiry day. |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #680 Posted: Thu Feb 21, 2013 8:50 am Post subject: |
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| apka wrote: | | saumya12 wrote: | | apka wrote: | | possible HnS in making if close remains here about and starts going down in next 4-5 days |
On a larger time frame, you are right but look at the shorter time frame, just NF-feb month chart, you will find an IH&S in formation. Only right shoulder remains to form.
And the right half of IH&S is the left half of H&S. |
ok.
See the Dollar Index Weekly chart attached. Its going for a IHnS pattern. If it rises more by tomorrow, i guess it will complete and nifty making a HnS then seems more than likely in that case. |
Sgx Nifty Future 5925.00 -39.00 -0.66 % as on 21st Feb. 2013 -- journey started?
for me until the breached 9-month trendline is crossed again and nifty settles above it and fut closes above 5995.. i will not go long. id rather keep these figures as SL for shorts at this point. |
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masa
White Belt
Joined: 06 Jan 2007
Posts: 162
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| Post: #681 Posted: Thu Feb 21, 2013 9:02 am Post subject: |
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| Nifty Update. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #682 Posted: Thu Feb 21, 2013 9:19 am Post subject: |
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First half is definitely going to be Sellers. Will be interesting to see how the second half of the session pans out. Unless we make a new closing low, I will consider these dips as buying opportunity...but there are lot of dangerous signals from global markets....so, one should be pretty careful, I believe...all the commodities had a nightmare session yesterday....anyway, let's wait and see where we'll be at the end of the day.....if there is another round of selling tomorrow, or I'll definitely exit my LONG positions....but till that time, will be still looking for BUYs....  |
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pkholla
Black Belt
Joined: 04 Nov 2010
Posts: 2890
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| Post: #683 Posted: Thu Feb 21, 2013 9:20 am Post subject: |
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| Vinay: Kaisa raha? NS (closing basis) went and touched Robert C Miner's retracement levels posted by me and after hanging around there fell back today. Cheers, Prakash Holla |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #684 Posted: Thu Feb 21, 2013 9:22 am Post subject: |
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| manojkr78 wrote: | Sam,
Your views on shorting CNXIT please.
Manoj |
I wont suggest selling it at this point of time....I have a feeling that there is some upside left in the index....atleast for the next 2 or 3 days....may be by monday or tuesday, one will get a chance to sell the index, I feel....but if you're already holding the shorts, then my suggestion is to exit if it takes out the highs it made yesterday or if Nifty takes out yesterday's high.....that's what I feel at this point of time....  |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #685 Posted: Thu Feb 21, 2013 9:35 am Post subject: |
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| nifty fut volumes already done 1.5 million in opening 20 mins... last 2 days it was hardly 3 million or less till 1-1.30pm. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #686 Posted: Thu Feb 21, 2013 9:44 am Post subject: |
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| apka wrote: | | nifty fut volumes already done 1.5 million in opening 20 mins... last 2 days it was hardly 3 million or less till 1-1.30pm. |
lot of rumours were doing rounds yesterday...some of them were attributing the crash in the commodities to the bankruptcy of some famous commodity trading house....don't know how much truth in that rumour...anyway, one should be pretty careful from here, I feel.... |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #687 Posted: Thu Feb 21, 2013 9:46 am Post subject: |
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| If the trend of recent past has to continue, I feel NS may not go below 5990-85 in this fall in immediate term. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #688 Posted: Thu Feb 21, 2013 10:04 am Post subject: |
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| I still take this dip as a buying opportunity. Has bought another few stocks this morning (slightly defencive ones though such as COLPAL, CIPLA, HEROMOTOCO & DISHTV)....Let's see how it goes at the closing... |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #689 Posted: Thu Feb 21, 2013 10:05 am Post subject: |
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| 3 million volumes done in 50 mins. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #690 Posted: Thu Feb 21, 2013 10:14 am Post subject: |
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| apka wrote: | | 3 million volumes done in 50 mins. |
Yes, there is definitely some panic or else some are creating panic, I feel... ...but doesn't want to short...as we're nowhere technically now....added BankNifty now, around 12250.....will think about exiting at the close if its a pretty weak one.... |
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