iCharts Discussions

[rk_a2003]

[rk_a2003]

What does this indicates?. T.A Experts/Students...All are welcome...including Vinay.

[vinay28]

[vinay28]

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Friday (30/01/14) and beyond

Supports are at about 8926, 8886, 8878, 8852, 8821 and 8744 while resistances are at about 8993, 9014, 9033 and 9080. Previous unfilled gap on lower side is at about 8761. A +WW can give about 9000 (+WWs with higher targets are not mentioned as of now). Four -WWs can give about 8795 (if below 8960), 8744 (once below 8918), 8694 (once below 8890) and 8536 (once below 8852) (-WWs with lower targets are not mentioned as of now). A rising wedge break down can give about 8450 if nifty sustains below 8900. A bullish flag can give higher level unless killed below 8905. A HnS can give about 8800 if nifty breaks below 8878.

Nifty made a lower high and lower low but still closed at an all time high above 8950. However, a bearish div has developed, which gets nullified only if nifty takes out 8985. Otherwise we can see some fall. A close below 8909 will give a bearish candle on weekly and a close below 8835 can cause more fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Expect wild swings due to high vix and pcr.

[vinay28]

[amitagg]

Post: #1 PostPosted: 30 Jan 2015 19:01 Post subject: Reply with quote Edit/Delete this post Delete this post
I was whipsawed twice or thrice over the past 2-3 days on my SELF crude trades which usually add to the kitty otherwise.

Important observation

Should I read this as a PRECURSOR to change in trend for CRUDE . Time will tell

( last time NIFTY and CRUDE were at important resistances (7700-7800) and supports respectively , despite what I anticipated there was a BREAKOUT in both on opposite sides)

This time I am feeling similar ( timing)

Crude declines have become more narrower after 5 months of declines. It has touched 43.75.

While 33 is one number to go by, if that hits Nifry should hit 9700-10300 which are longer pattern targets ( see various posts of mine, RK etc.) but no one anticipates so quickly

I believe though that both shall not break in opposite directions with crude rallying 300-500 points and again falling back to these levels and nifty halting at 9200-9300 ( or top already made) and falling back below 7700.......

Time shall tell. This is only to say that we are at important TIMING wise reversal moment.

Note that ALL or MOST highs for Nifty are made only in JAN

[vinay28]

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Monday (02/02/14) and beyond

Supports are at about 8744, 8723, 8638 and 8622 while resistances are at about 8861, 8946, 8958 and 9082. Previous unfilled gap on lower side is at about 8761. Two +WWs can give about 8865 (once above 8817) and 8932 (if above 8796) (+WWs with higher targets are not mentioned as of now). Four -WWs can give about 8714 (if below 8930), 8663 (if below 8906), 8518 (if below 8875) and 8400 (once below 8763) (-WWs with lower targets are not mentioned as of now). A rising wedge, which has broken down, can give about 8450 if nifty keeps falling. A bearish flag can give lower level unless killed above 8930. A MHnS can give about 8645 if nifty breaks below 8770.

Nifty made a new all time high but tanked heavily closing just above 8800, thanks to the bearish div posted yesterday. Daily candle is a big, bearish engulfing Marubuzo while weekly candle is an inverted hammer, with -ve div, which closed below last week's close. These signs are bearish and we can see more fall. However, there is also a mild bullish div on lower TF and hence some recovery is likely before further fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Expect wild swings due to high vix.

[vinay28]

[AjitS]

There was discussion about crossover of E3 - E15 sometime back on this forum.

Since E3 crossed over last time on Jan 12, it stayed above E15 continuously and difference was highest at 271.87 pts on Jan 27. (I think it was same day Vinay posted about buying small qty of 8700 PE of Feb).

Since Jan 27 however, the difference is reducing consistently for last 3-4 trading sessions, now down to 187.19 pts. (and needless to say, buyers of 8700 PE are making money since then.) This means, E3 is on way down to meet E15 and perhaps cross downside.

If it has to cross E15 and go down, NIFTY will have to go down by more that 200 pts. Even if it just touches the crossover point and resumes uptrend, which usually happens, it still has to go down by about that much. So, I feel, 8640 - 8450 should be on cards.

PLEASE NOTE: This is just a guess, at best an analysis, of where NIFTY will move next, and not a recommendation.

[vinay28]

yes ajit, about 8460 is another level if 8640 breaks but that can be a sudden one day fall like it happened when nifty fell to 7961.

[vinay28]

sold my puts and went long in 8900ce and 21000ce considering possibility of rate cut tmrw.

[vinay28]

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Tuesday (03/02/14) and beyond

Supports are at about 8752, 8723, 8706, 8638 and 8623 while resistances are at about 8842, 8861, 8874, 8887, 8903 and 8946. Four +WWs can give about 8877/8924 (once above 8817), 8914 (once above 8858) and 8985 (if above 8824) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8690 (if below 8891) and 8678 (if below 8944) (-WWs with lower targets are not mentioned as of now). A rising wedge, which has broken down, can give about 8450 if nifty keeps falling. A MHnS can give about 8645 if nifty breaks below 8750.

Nifty closed flat but below 8800. Daily candle is a doji, implying uncertainty. However, the bullish div on lower TF persists and hence some recovery is likely. Monday was a NR4 days and we may see a big range on Tuesday. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully as we can see wild swings due to high vix and also due to RBI policy.

[riteshucha]

8500 PE open low same.
NF broke 30 min candle low which took out pivot at 8865...
be very careful.... will look to buy / sell post 11.30 am...

[rk_a2003]

EOD NS well above 8750 still bullish well below 8750 bearish.

[PS Trader]