|
|
| View previous topic :: View next topic |
| Author |
Nifty View - June Series 2014 |
riteshucha
Green Belt
Joined: 19 May 2012
Posts: 1292
|
Post: #76  Posted: Tue Jun 10, 2014 5:52 pm Post subject: |
 |
|
thanks vinay 
| vinay28 wrote: | | riteshucha wrote: | thanks vinay...
also one more thing abt gaps.. i was reading abt it.. gap up & gap down acts as supports & resistances respectively...and prices tend to reverse after filling the gap!!
and thats precisely what hapened today!!
but i remember u had said that for prices to continoue upwards, it shldnt fill the gap..
so not filling the gap and moving upwards or filling the gap and moving upwards (or downwards as the case may be) , in either case, which is a stronger sign for continuation of a trend..? |
yes, it's a fact that price can reverse after a gap is filled either because (a) there is no further gap to be filled or (b) trend is intact. But gap filling alone that doesn't indicate any trend, which has to be shown by other indicators. since -ve div persists and volume is low, I still feel the reverse may happen i.e. since lower gap is filled, it may go down further to fill up next gap(s), which exist at about 7474, 7230, 7123 and 7014. I am presently ignoring gaps at around 64xx and below.
I am also concerned about gradual rise in oil price and US$ as also today's development in N Iraq.
If however 7690/7720NF is taken out and -ve div vanishes then trend may continue. till then I am "hoping" for 6980/50. you can treat it as speculation if you wish. |
|
|
| Back to top |
|
 |
|
| |
taruj
White Belt
Joined: 20 Apr 2011
Posts: 260
|
| Post: #77 Posted: Tue Jun 10, 2014 6:00 pm Post subject: |
|
|
| vinay28 wrote: | | taruj wrote: | hi vinay
how does one say hanging man has a 59% success rate. is there any such site / reference material for candle stick formations? also some thing like a 'technical specification' of candles?
regards, |
ritesh, for doubt/knowledge on behaviour/outcome of any candle/pattern, you should read Bulkowski's research, which is available on the net. I have his e-book but can't mail it. However Internet has everything. He gives good explanation along with targets, success ratio, etc. Here's an example for hanging man
http://thepatternsite.com/HangingMan.html |
thanks. this is effinsecsee  |
|
| Back to top |
|
|
vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
|
| Post: #78 Posted: Tue Jun 10, 2014 8:49 pm Post subject: |
|
|
Nifty for Wednesday (11/06/14)
Supports are at about 7645, 7626, 7607, 7595, 7550 and 7470 while resistances are at about 7707 and 7814. An unfilled gap on lower side is at about 7474. Three +WWs can give about 7721, 7733 and 7781 (+WWs with higher targets are not mentioned as of now). Five -WWs can give about 7603 (once below 7645), 7599 (once below 7656), 7492 (once below 7546) and 7100/7000 (once below 7600) (-WWs with much lower targets are not mentioned as of now). A rising wedge can give about 7360 as a first level if nifty goes and remains below 7623.
Nifty recovered after a fall and managed to close just above 7650 and at a new all time high and seems bullish. However, daily candle is a red hanging man cum bearish engulfing. Also, -ve div persists on daily chart and volume is not convincing, and hence a reaction looks imminent. Confirmation of bearish signal will be a red candle on Wednesday with a close below 7656 preferably after a gap down open. Also, vix seems to be rising. However, liquidity is still abundant and it's difficult to assess when reaction will start. A close above 7700 can continue uptrend while a breach of 7579 can be the first sign of trouble and a close below 7474 may accelerate the fall. With all major news behind us, market will now dance to FIIs' tune/liquidity. Global cues including oil price and US$ may weigh on market performance. |
|
| Back to top |
|
|
vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
|
| Post: #79 Posted: Wed Jun 11, 2014 11:28 am Post subject: |
|
|
| today's gap filled. |
|
| Back to top |
|
|
riteshucha
Green Belt
Joined: 19 May 2012
Posts: 1292
|
| Post: #80 Posted: Wed Jun 11, 2014 5:08 pm Post subject: |
|
|
vinay,
"Confirmation of bearish signal will be a red candle on Wednesday with a close below 7656 "
vinay,
hanging man yest followed by a red candle... also closed below, 7656... aslo down from new high today with increased volume compared to previous 2/3 days...
failed to cross 7720 NF...
is it enough confirmation for a reversal..?? |
|
| Back to top |
|
|
vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
|
| Post: #81 Posted: Wed Jun 11, 2014 7:13 pm Post subject: |
|
|
| riteshucha wrote: | vinay,
"Confirmation of bearish signal will be a red candle on Wednesday with a close below 7656 "
vinay,
hanging man yest followed by a red candle... also closed below, 7656... aslo down from new high today with increased volume compared to previous 2/3 days...
failed to cross 7720 NF...
is it enough confirmation for a reversal..?? |
looks like that ritesh. IMHO, today's candle is more bearish than bearish piercing. Chart attached is self-explanatory. A breach of 5578 may see gap at 7474 filled. having said this, I won't rule out a revisit to 7650/7700 if nifty remains above 7608. If that happens, we need to review it again. |
|
| Back to top |
|
|
vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
|
| Post: #82 Posted: Wed Jun 11, 2014 9:29 pm Post subject: |
|
|
Nifty for Thursday (12/06/14)
Supports are at about 7578, 7470 and 7427 while resistances are at about 7645 and 7710. An unfilled gap on lower side is at about 7474. Four +WWs can give about 7649 (once above 7588), 7651 (once above 7575) and 7663/7703 (once above 7608) (+WWs with higher targets are not mentioned as of now). Five -WWs can give about 7491 (once below 7550), 7450 (once below 7577), 7349 (once below 7497), 7335 (once below 7476) and 6976 (once below 7700) (-WWs with much lower targets are not mentioned as of now). A rising channel can give about 7120 if nifty remains below 7650.
Nifty reacted and closed below 7650 and seems headed down. The daily candle is more bearish than a bearish piercing one and the volume was more than that on Tuesday. Also, vix seems to be rising. However, liquidity is still abundant and one needs to be careful. A close above 7705 can resume the uptrend while a breach of 7578 can be the first sign of trouble and a close below 7474 may accelerate the fall. With all major news behind us, market will now dance to FIIs' tune/liquidity. Global cues including oil price and US$ may weigh on market performance. |
|
| Back to top |
|
|
apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
|
| Post: #83 Posted: Thu Jun 12, 2014 8:42 am Post subject: |
|
|
theres a copy of letter circulating written by subramanian swamy dated yesterday to Modi about ratan tata having tie up with augusta westland and that he has been summoned by italy's criminal court in connection to the bribery case.
I dont know about its authencity. Careful in tata stocks. |
|
| Back to top |
|
|
pkholla
Black Belt
Joined: 04 Nov 2010
Posts: 2890
|
| Post: #84 Posted: Thu Jun 12, 2014 9:16 am Post subject: |
|
|
There seems to be no end to Tata Group worries on account of this infamous namesake of a famous family (Apparently he is no direct relation to previous Tatas like JRD)
The Q is whether he is an innocent and dumb DUPE or knowingly involved in Augusta fraud. Ratan is well known for his love for Europe and things based there and may have been suckered! As he was into JLR, Corus, Luxury Hotel group, chemical plants, etc etc etc!
Cyrus should immediately remove him from all boards of Tata Group to retain public faith in the group
Prakash Holla |
|
| Back to top |
|
|
vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
|
| Post: #85 Posted: Thu Jun 12, 2014 9:47 am Post subject: |
|
|
| I wonder whether ratan will be involved in augusta. but according to a rumour, the reason Tatas dropped out of banking is a threat from MA to expose him in Radia tapes. |
|
| Back to top |
|
|
apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
|
| Post: #86 Posted: Thu Jun 12, 2014 9:58 am Post subject: |
|
|
| MA ? |
|
| Back to top |
|
|
vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
|
| Post: #87 Posted: Thu Jun 12, 2014 10:02 am Post subject: |
|
|
mokla if u understand Mumbai gujju/marwari language.  |
|
| Back to top |
|
|
apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
|
| Post: #88 Posted: Thu Jun 12, 2014 10:06 am Post subject: |
|
|
| vinay28 wrote: |
mokla if u understand Mumbai gujju/marwari language. |
nathi samjhto |
|
| Back to top |
|
|
vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
|
| Post: #89 Posted: Thu Jun 12, 2014 11:06 am Post subject: |
|
|
| apka wrote: | | vinay28 wrote: |
mokla if u understand Mumbai gujju/marwari language. |
nathi samjhto |
mukesh |
|
| Back to top |
|
|
vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
|
| Post: #90 Posted: Thu Jun 12, 2014 12:11 pm Post subject: |
|
|
It seems the power crisis in Delhi is so bad that, if you put your finger in a plug-point, and find electricity, you'll be shocked.  |
|
| Back to top |
|
|
|
|
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
You cannot attach files in this forum
You cannot download files in this forum
|
Powered by phpBB © 2001, 2005 phpBB Group
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
