iCharts Discussions

[apka]

PCR jumped from 0.9x -> 1.15

[vinay28]

The levels that I had posted on Tursday night for Friday and Monday were easily exceeded as nifty attempted a higher symmetry, boosted by fundamental news on gas price hike, which is seen to be a major govt decision by FIIs. However, note that (a) this price hike is from April '14 and (b) FIIs always have forward looking approach and hence, we may see volatile swings in the short to medium term. I am attempting to give below fresh sequence of nifty spot levels (waves) for Monday to Thursday based on the assumption that this new symmetry will hold.

Monday - 5828-5803-5836-5809-5848-5833
Tuesday - 5838-5804-5821-5763-5819-5799
Wednesday - 5787-5754-5771-5676-5700
Thursday - 5695-5707-5666-5714-5681-(5774)

As usual, remember that (a) end levels are more important than intermediate ones, (b) first and last levels may shift to previous or next day. (c) 5774 in bracket is more likely on Friday than on Thursday.

The above becomes invalid if nifty remains above 5858 (particularly on Monday), in which case 5900 is possible and if 5932 is crossed, 6000-6030 is also possible. In other words, it seems a bit above 5858 can be a SL on whatever TF you trade on.

I will repeat this post in the new thread for July to be opened on Monday morning.

[chandrujimrc]

Dear friends,

Further to my earlier msg posted just one week back,whenever nifty spot RSI down below 30 mkt will try to give 300-400 points rally,now rallied from 5566 to 5853.Let us hope for another 100 points.