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Nifty View - July Series |
apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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Post: #151  Posted: Tue Jul 08, 2014 6:35 pm Post subject: |
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dynamite_munda11
Yellow Belt
Joined: 14 Nov 2010
Posts: 681
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| Post: #152 Posted: Tue Jul 08, 2014 8:31 pm Post subject: nifty daily |
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| though nifty closed below 7632 being 180 degree from the high it has support at 7599/7600 below that breach of this would take it to 7545/7502 lvls |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #153 Posted: Tue Jul 08, 2014 9:02 pm Post subject: |
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Nifty for Wednesday (09/07/14)
Supports are at about 7604, 7581, 7573-66-57 and 7513 while resistances are at about 7640-53, 7682, 7705, 7736, 7760, 7792 and 7821. Three +WWs can give about 7736/74 (once above 7642) and 7813 (once above 7698) (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 7582, 7561 and 7461 (-WWs with much lower targets are not mentioned as of now). A bearish flag can give lower level unless killed above 7700.
Nifty crashed but closed above 7600 thereby confirming Monday's evening star and NR4 day but not with corresponding volume. Nifty also closed below 10 dma (about 7642) but bounced after crossing below to close above 20 dma (7603). Hence, a close below 20 dma on Wednesday can cause more fall. Nifty seems oversold on lower TFs. A close above 7700 can give fresh hopes to bulls. VIX can play spoil sport, this being a long expiry with budget due in 2 days. At the same time, liquidity is still abundant and one needs to be careful. Market will dance to FIIs' whims and fancies. Hence, trade carefully. |
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Ruchirgupta2000
White Belt
Joined: 12 Jun 2014
Posts: 297
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| Post: #154 Posted: Tue Jul 08, 2014 11:33 pm Post subject: |
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| apka wrote: | | hmmm... the -ww on daily chart didn't make a 5th point.. which should come around 7860 or so... |
Hi apka,
I saw a chart shared by Welgro that shows -WW in Sensex, and I shared a rising wedge chart in nifty which is again a negative.
Also I see negative divergence in RSI 6 Hours which is again negative.
Regards,
Ruchir |
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dynamite_munda11
Yellow Belt
Joined: 14 Nov 2010
Posts: 681
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| Post: #155 Posted: Wed Jul 09, 2014 5:37 am Post subject: Re: nifty daily |
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| dynamite_munda11 wrote: | | though nifty closed below 7632 being 180 degree from the high it has support at 7599/7600 below that breach of this would take it to 7545/7502 lvls |
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riteshucha
Green Belt
Joined: 19 May 2012
Posts: 1292
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| Post: #156 Posted: Wed Jul 09, 2014 9:50 am Post subject: |
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intra
Buy At 7715.75. Target = 7769.76. Stoploss = 7654.024
Sell At 7572.50. Target = 7519.49. Stoploss = 7633.08 |
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riteshucha
Green Belt
Joined: 19 May 2012
Posts: 1292
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| Post: #157 Posted: Wed Jul 09, 2014 9:59 am Post subject: |
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bnf intra
Buy At 15262.84. Target = 15369.68. Stoploss = 15140.7348
Sell At 14884.41. Target = 14780.22. Stoploss = 15003.4878 |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #158 Posted: Wed Jul 09, 2014 11:27 am Post subject: |
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| British PM announces 1B pound credit line for Indian infrastructure. |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #159 Posted: Wed Jul 09, 2014 12:20 pm Post subject: |
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| govt likely to announce one time tax settlement scheme for disputes, which are to the tune of 8 trillion INR. govt may get 3 trillion. |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #160 Posted: Wed Jul 09, 2014 12:42 pm Post subject: |
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| vinay28 wrote: | | govt likely to announce one time tax settlement scheme for disputes, which are to the tune of 8 trillion INR. govt may get 3 trillion. |
which tax? because:
| Quote: |
Only 3% of Rs 2.5 lakh crore tax dues recoverable: Government
The finance ministry has told a parliamentary standing committee that it hoped to recover only Rs 7,000 crore or just 2.8% of the total tax arrears of Rs 2.49 lakh crore, and has almost written off Rs 1.30 lakh crore related to prominent cases of money laundering and securities scams.
The ministry told the parliamentary panel that in the Hassan Ali Khan case, where the demand is of Rs 92,000 crore, recovery was not possible.
Similarly, it has given up on securities scam cases, where there is a demand of Rs 20,000 crore from the Harshad Mehta group of companies, Rs 14,000 crore from the Dalal group and Rs 4,000 crore from the Ketan Parekh group |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #161 Posted: Wed Jul 09, 2014 12:46 pm Post subject: |
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don't know apka.
by the way, buy 8000ce, target 64 and 7800ce, target >260. |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #162 Posted: Wed Jul 09, 2014 12:59 pm Post subject: |
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| vinay28 wrote: | don't know apka.
by the way, buy 8000ce, target 64 and 7800ce, target >260. |
i was expecting further downside |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #163 Posted: Wed Jul 09, 2014 1:03 pm Post subject: |
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| apka wrote: | | vinay28 wrote: | don't know apka.
by the way, buy 8000ce, target 64 and 7800ce, target >260. |
i was expecting further downside |
nothing is impossible, apka. I had posted 7548NF over a week ago but now doubtful to me. |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #165 Posted: Wed Jul 09, 2014 1:41 pm Post subject: |
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| vix is dropping but PEs are loosing value faster than CEs. |
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