iCharts Discussions

[riteshucha]

vinay / anil ji
correct me if i am reading this wrong:

last week, as per anil ji's weekly update, we were looking for close above or breakout above 8520 for going long...

1) hence, now the low of that day, when breakout or close above 8520 happened (i.e 8462.95) should become SAR!! correct??

2)if 8462.95 NS has to break, then recent high(8646.75) minus SAR level i.e 8463 = 184 points, meaning 8463-184 = 8278, should roughly be the target for this downmove...??

[vinay28]

[vinay28]

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

Nifty for Wednesday (22/07/15) and beyond

Supports are at about 8509, 8491/82, 8469, 8435 and 8423 while resistances are at about 8565/77, 8612, 8652, 8682/94 and 8717. An unfilled gap on lower side is at about 8454. A +WW can give about 8668 (if above 8578) (+WWs with higher targets are not mentioned as of now). Two -WWs can give 8427 (if below 8570) and 8370 (if below 8500) (-WWs with lower targets are not mentioned as of now). An IHnS can give at least 8910 if nifty sustains above 8590. A rising wedge break down can give at least 8475 if nifty breaks and sustains below 8580.

Nifty fell as predicted yesterday and closed below 8550. There is a -ve div with good -ve volume and we may see some more fall. A close below 8454 can mean further fall. Global and local eco-political events can have a bearing on how nifty moves in short term.

[vinay28]

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

Nifty for Thursday (23/07/15) and beyond

Supports are at about 8592, 8577, 8548/36, 8512 and 8446 while resistances are at about 8650, 8669, 8686/96, 8722, 8738, 8786 and 8824. An unfilled gap on lower side is at about 8454. Two +WWs can give about 8701 and 8755 (+WWs with higher targets are not mentioned as of now). Four -WWs can give 8588/70 (if below 8618), 8557 (if below 8600) and 8487 (if below 8698, which is yet to be reached) (-WWs with lower targets are not mentioned as of now). An IHnS can give at least 8910 if nifty sustains above 8590. A rising wedge break down can give at least 8475 if nifty breaks and sustains below 8580.

Nifty rose sharply after a gap down open and closed above 8600, at a new high since April '15. Daily candle is almost bullish engulfing. However, the bearish div formed today again will vanish only if nifty touches 8647, enabling higher levels. A close below 8529 can mean further fall. Global and local eco-political events can have a bearing on how nifty moves in short term.

[vinay28]

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

Nifty for Friday (24/07/15) and beyond

Supports are at about 8577, 8557, 8535, 8521, 8477, 8454 and 8429 while resistances are at about 8639, 8661, 8688, 8703 and 8717. An unfilled gap on lower side is at about 8454. Five +WWs can give about 8627/55 (if above 8574), 8647/82 (if above 8578) and 8701 (+WWs with higher targets are not mentioned as of now). Four -WWs can give 8561/50 and 8534/12 (-WWs with lower targets are not mentioned as of now). An IHnS can give at least 8980 if nifty sustains above 8660. A rising wedge break down can give at least 8250 if nifty breaks and sustains below 8515.

Nifty fell again on good volume and closed below 8600. There is a -ve div and it may fall some more. However, money flow not being -ve, fall may not be much. But a close below 8593 on Friday can mean further fall next week. Global and local eco-political events can have a bearing on how nifty moves in short term.

[riteshucha]

basically wanted to know if u concurr:

can low on the day of breakout be considered as SAR??

if yes then, 8462.95 NS becomes important level.
Till it is not breached, every dip till 8482/8500 should be used to buy with SAR as 8460 NS

[vinay28]

[riteshucha]

okay thanks...

fyi, as long as it is above 8576 (buy more around 8557), tgt on upside are 8599 / 8622 / 8645
SL 8533

[asrtrade]

Hi,
Is RIL result due before market hours today? Just wondering if that could be the joker in the pack- make or break, above 8650 today?

Thanks

[vinay28]

[vinay28]

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

Nifty for Monday (27/07/15) and beyond

Supports are at about 8505, 8493/83, 8460 and 8429 while resistances are at about 8542/57, 8577, 8595, 8618, 8665 and 8717. An unfilled gap on lower side is at about 8454. Six +WWs can give about 8594/8604 (if above 8559), 8657/82 (if above 8564) and 8686/8721 (if above 8571) (+WWs with higher targets are not mentioned as of now). A -WW can give 8481 (-WWs with lower targets are not mentioned as of now). An IHnS can give at least 8980 if nifty sustains above 8660. A rising wedge break down can give at least 8250 if nifty breaks and sustains below 8515.

Nifty fell again on good volume and closed below 8550 and looks bearish. There is a mild -ve div on weekly but money flow is still healthy. Hence, it may not fall much more. Only crossing above 8665 with a close above 8634 can take it up further while a close below 8510 can mean more pain. Global and local eco-political events can have a bearing on how nifty moves in short term.

[amitagg]

[amitagg]

[ragarwal]

So target fr c wave would be as given by Shekhar ,Amit?

[amitagg]