iCharts Discussions

[vinay28]

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

Nifty for Wednesday (04/02/14) and beyond

Supports are at about 8723, 8709, 8690, 8662, 8638 and 8623 while resistances are at about 8774, 8821, 8861, 8885 and 8946. Five +WWs can give about 8801 (if above 8727), 8853 (if above 8735), 8874 (once above 8794), 8889 (once above 8813) and 8950 (once above 8783 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8640 and 8587 (-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 8560 if nifty breaks below 8735.

Nifty fell sharply again but managed to close but above 8750, a crucial level. The bullish div on lower TF persists and hence some recovery is likely very soon. A close above 8836 will be first hint of a reversal while a close below 8695 may cause more fall. 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.

[vinay28]

Nifty in the cross hairs of telescopic gun. Make or break?

60tf close below about 8709NS can be bad. Actually 75tf is superior.

[vinay28]

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

Nifty for Thursday (05/02/14) and beyond

Supports are at about 8687, 8651, 8638 and 8623 while resistances are at about 8741, 8758, 8777, 8804, 8829 and 8861. Five +WWs can give about 8785 (if above 8715), 8796 (if above 8709), 8863 (once above 8726), 8851 (if above 8704) and 8882 (once above 8785) (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 8606, 8582 and 8509 (-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 8535 if nifty sustains below 8705.

Nifty fell sharply again and closed above 8700. The bullish div on lower TF persists and hence some recovery is likely very soon. A close above 8836 will be first hint of a reversal while a close below 8695 may cause more fall. 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.

[vinay28]

Sometimes a triangle break out retraces right down to break out level or a bit below. Will it happen this time also? Only hope for bulls is if RSI doesn't break below about 55.90. Clearly tmrw seems to be a crucial day.

[PS Trader]

DATES FII (Rs. Crore) DII (Rs. Crore)

Gross Purchase Gross Sales Net Purchase/Sales
04-Feb-2015 5057.23 5141.03 -83.80 1653.42 1725.77 -72.35
03-Feb-2015 5723.76 5988.11 -264.35 1966.33 2103.64 -137.31
02-Feb-2015 5639.15 6269.12 -629.97 1747.14 1971.21 -224.07
Source: http://www.moneycontrol.com/stocks/marketstats/fii_dii_activity/

Continuously 3 days FII and DII both are negative . Seems retail participation getting more. good for markets.

[vinay28]

Caution for those who are POSITIONALLY short. This is not a trading call.

1. I had posted months ago that when a price makes an all time high, it keeps making them no matter how much or how many times it reacts along the way e.g. S&P made a new high, I think, 79 times last year.

2. We are approaching one of the important budgets for India and even other countries are closely watching it for the first time. Hence a pre budget, and perhaps also a post budget, rally is not ruled out.

3. Recent mock tradings had shown high levels of 9180 and 9253.

4. Robert C Miner's calculation shows a likely level as 9422.

I, therefore, feel that anyone who is short should be cautious since a 7 to 10 % rally from whatever low it makes now is not ruled out by mid March and the upswing can start any day, sooner than later.

[pkholla]

Vinay: I agree with you as below:
1 The FIIs still dont have a good alternative destination for their funds so that India remains a favorite! More funds might come in expecting the levels you mentioned
2 The far left have won and COMBINED with the far right have determined to repudiate or at least re negotiate Greece debt. The amount may be small (compared to total Europe debt) but the first hole in the dike can spell doom for those living behind it. Hence, take QE money from Draghi and divert to Asia?
3 Modi and Jaitley may be determined to give India a fantastic budget boosted by sky high valuations and returns from PSU disinvestment. Also the bonus from crude falling to 50% of peak
4 BJP always was favorably inclined towards business and industry and this budget may spell out their vision statement

I personally wish the bourses, FIIs and large Bombay bulbuls a very happy Holi as I want to get rid of junk accumulated during previous peak (2010-11)!!! Bigger fool theory!

Cheers, Prakash Holla

[vinay28]

selfish fella!

[riteshucha]

BUY above 8820
sell below 8776....

[riteshucha]

booked 50% at 8879... TSL 8840

[riteshucha]

TSL gone...
look to buy around 8810/8820... SL 8776

[vinay28]

Right angled and descending broadening triangle. Buy was triggered when it bounced from lower TL very close to EOD today. BO/BD targets 8935/8615. Note repeated premature reversals earlier before finally success today but then failure again.

[vinay28]

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

Nifty for Friday (06/02/14) and beyond

Supports are at about 8670, 8643 8623 and 8589 while resistances are at about 8724, 8745, 8808, 8840, 8861 and 8900. An unfilled gap on lower side is at about 8550. Four +WWs can give about 8847 (if above 8700), 8866 (if above 8705), 8874 (once above 8717) and 8880 (if above 8672) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8583 and 8524 (-WWs with lower targets are not mentioned as of now). A rising wedge, which has broken down, can give about 8450 if nifty sustains below 8750. A bearish flag can give lower levels unless killed above 8785.

Nifty rose sharply but fell more furiously to close marginally -ve but above 8700. The bullish div on lower TF persists and hence some recovery is likely very soon. A close above 8836 will be first hint of a reversal while a close below 8695 may cause more fall. Friday should close above at least 8764 to give a hammer on weekly. 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.

[vinay28]

added to my long in nifty and banknifty

[vinay28]

High/Low of NF and some others in today's (07/02) mock trading

NF - 9583.10/8080
NS - 9027.60/7791.30
BNF - 20400/17790
RIL - 1000.85/818.95
AXIS BANK - 619.45/506.85
INFY - 2453.55/1895.95
TCS - 2833.30/2318.20
CAIRN - 279/228.70

If you are interested in others, pl log on to your terminal, find out and post here.