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Nifty View - July 2013 |
vinay28
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Joined: 24 Dec 2010
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Post: #376  Posted: Tue Jul 23, 2013 4:40 pm Post subject: |
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| once again a NR7 day. Repeated small range days has caused a "coiled spring" pattern to develop and we could see a blow-out. |
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vinay28
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Joined: 24 Dec 2010
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| Post: #377 Posted: Tue Jul 23, 2013 5:31 pm Post subject: |
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| vinay28 wrote: | | A gapped up inverted hammer will be a pain. |
it's an evening star. Needs to be killed by a higher close, preferably with gap up open. |
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ritapandit25
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Joined: 04 May 2013
Posts: 2926
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| Post: #378 Posted: Tue Jul 23, 2013 5:43 pm Post subject: |
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| vinay28 wrote: | | vinay28 wrote: | | A gapped up inverted hammer will be a pain. |
it's an evening star. Needs to be killed by a higher close, preferably with gap up open. |
Today is an evening star, it means tomorrow opening will be gap down & end with bearish candle?
Your view Vinay. |
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vinay28
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Joined: 24 Dec 2010
Posts: 11748
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| Post: #379 Posted: Tue Jul 23, 2013 5:47 pm Post subject: |
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| ritapandit25 wrote: | | vinay28 wrote: | | it's an evening star. Needs to be killed by a higher close, preferably with gap up open. |
Today is an evening star, it means tomorrow opening will be gap down & end with bearish candle?
Your view Vinay. |
not necessarily rita. that's why my comment above. In any case, earlier I have commented about my SLs and intended trades tmrw. It's possible we may another gap up open, may be at 6098. |
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apka
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Joined: 13 Dec 2011
Posts: 6137
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| Post: #380 Posted: Tue Jul 23, 2013 5:48 pm Post subject: |
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| vinay28 wrote: | | once again a NR7 day. Repeated small range days has caused a "coiled spring" pattern to develop and we could see a blow-out. |
blow-out sounds good. |
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vinay28
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Joined: 24 Dec 2010
Posts: 11748
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| Post: #381 Posted: Tue Jul 23, 2013 6:15 pm Post subject: |
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LEADER POST for Wednesday (24/07/13)
Supports are at about 6057, 6030 and 6000 while resistances are at about 6090, 6107, 6157 and 6248. Three +WWs can give about 6094, 6126 and 6200 (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 6038 (once below 6088), 6010 (once below 6066) and 5985 (once below 6096) (-WWs with lower targets are not mentioned presently).
Nifty rose in spite of a gap up open and closed above 6050 and seems to be headed upwards. Also, the mild -ve div seen earlier in RSI on daily chart has vanished. However, daily candle is an evening star and an imperfect inverted hammer, likely bearish signs. Hence, nifty will have to close at a higher level, preferably with a gap up open, to defeat it. Tuesday was a NR7 day. Repeated small range days have formed a "coiled spring" pattern and we could see a blow-out with big moves.
About 6050 seems to be a tight SL for longs but 6000 is the last SL. If 6150 is not crossed on Wednesday, expiry could be below 6100 but, if it is, then we could see 6200+ by expiry. If 6000 is breached, it could fall sharply. Oil price and INR will remain key to the future of Indian markets in the short term. VIX and PCR are expected to remain high and can cause sharp swings. Only global cues and/or liquidity can take nifty further up. This being an expiry week, trade carefully and book trades quickly. |
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apka
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Joined: 13 Dec 2011
Posts: 6137
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| Post: #382 Posted: Wed Jul 24, 2013 10:54 am Post subject: |
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RBI dropped another bomb today.
Wonder what they are saving for the actual policy day.
Last edited by apka on Wed Jul 24, 2013 11:03 am; edited 1 time in total |
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bharatpatel
White Belt
Joined: 26 Oct 2011
Posts: 401
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| Post: #383 Posted: Wed Jul 24, 2013 11:01 am Post subject: |
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| once again @ 6020 - 5970 range |
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bharatpatel
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Joined: 26 Oct 2011
Posts: 401
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| Post: #384 Posted: Wed Jul 24, 2013 11:17 am Post subject: |
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Bank nifty Major (trend defining) levels are
10660-10646 10533 10495-10426 |
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bharatpatel
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Joined: 26 Oct 2011
Posts: 401
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| Post: #385 Posted: Wed Jul 24, 2013 1:40 pm Post subject: |
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| bharatpatel wrote: | Bank nifty Major (trend defining) levels are
10660-10646 10533 10495-10426 |
Bank nifty (cash) made low of exact 10661.30 and level is 10660 |
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vinay28
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beowulf
White Belt
Joined: 18 Aug 2010
Posts: 163
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| Post: #387 Posted: Wed Jul 24, 2013 2:13 pm Post subject: |
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What is the relevance here and connection to the markets...? |
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pkholla
Black Belt
Joined: 04 Nov 2010
Posts: 2890
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| Post: #388 Posted: Wed Jul 24, 2013 2:18 pm Post subject: |
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Vinay: Wrong thread. You should shift it to Wolf(e) Wave Thread! (BTW are you the boy, the wolf, the villagers OR the sheep?). Regards, Prakash Holla |
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beowulf
White Belt
Joined: 18 Aug 2010
Posts: 163
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| Post: #389 Posted: Wed Jul 24, 2013 2:23 pm Post subject: |
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| beowulf wrote: |
What is the relevance here and connection to the markets...? |
Please say everything khullam-khulla...dont start talking like the Aastha/Sanakaar channel people...  |
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riteshucha
Green Belt
Joined: 19 May 2012
Posts: 1292
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| Post: #390 Posted: Wed Jul 24, 2013 4:17 pm Post subject: |
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| wonder why the european mkts are jumping up now??.. |
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