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Nifty View - March Series 2014 |
vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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Post: #151  Posted: Tue Mar 11, 2014 9:00 pm Post subject: |
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Nifty for Wednesday (12/03/14)
Supports are at about 6508, 6494, 6484, 6425 and 6390 while resistances are at about 6576/84 and 6640. (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 6475, 6468 and 6300 (-WWs with much lower targets are not mentioned as of now). A big bullish flag gives higher level unless killed below 6430.
Nifty fell a bit but managed to close above 6500. But there is a mild -ve div on daily chart and the daily candle is a doji, which indicates uncertainty. If nifty closes above about 6555, it could go up further while if it closes below 6460, it could fall much more. Oil price and/or INR and other global cues will remain key to the future of Indian markets in short to medium term. VIX is rising slowly and can cause wild swings.
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hey, saumya is missing. saumyaaaaaaa, where are you?
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #152 Posted: Tue Mar 11, 2014 9:10 pm Post subject: |
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| vinay28 wrote: | | rk_a2003 wrote: | | vinay28 wrote: | | for whatever they are worth. I don't understand EW and I have just copied someone's post of 7 legged diametric by redrawing it. The parallelogram is my patent. |
The theory of parallelogram pictorial tells us that Nifty moved from 1000 in 2003 to 6000 in 2013 ( approximately).There fore if a break out of parallelogram happens it is going to move from 6000 to 11000 in next 10 years. Quite convincing and achievable or shall we take it as 36000? |
let me tell you a fact. Way back in 2010, I had predicted that nifty will be 15750 in 2015/16, including on icharts. I was called a fool then and abused in some foums, including closed discussion forums. Today I still feel that will happen except that it may be instead in 2016/17. |
It's quite possible Vinay. Now no fool can say it's not possible. In fact by 2023 it may reach even 30000....no need to wonder.
But, what about cycles? which are integral and inseparable part of the market economy; In between it may visit bottoms too. |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #153 Posted: Tue Mar 11, 2014 9:13 pm Post subject: |
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| rk_a2003 wrote: | | vinay28 wrote: | | rk_a2003 wrote: | | vinay28 wrote: | | for whatever they are worth. I don't understand EW and I have just copied someone's post of 7 legged diametric by redrawing it. The parallelogram is my patent. |
The theory of parallelogram pictorial tells us that Nifty moved from 1000 in 2003 to 6000 in 2013 ( approximately).There fore if a break out of parallelogram happens it is going to move from 6000 to 11000 in next 10 years. Quite convincing and achievable or shall we take it as 36000? |
let me tell you a fact. Way back in 2010, I had predicted that nifty will be 15750 in 2015/16, including on icharts. I was called a fool then and abused in some foums, including closed discussion forums. Today I still feel that will happen except that it may be instead in 2016/17. |
It's quite possible Vinay. Now no fool can say it's not possible. In fact by 2023 it may reach even 30000....no need to wonder.
But, what about cycles? which are integral and inseparable part of the market economy; In between it may visit bottoms too. |
if you are talking about super or K cycles, India has another 30 years to go |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #154 Posted: Tue Mar 11, 2014 9:48 pm Post subject: |
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| vinay28 wrote: | | for whatever they are worth. I don't understand EW and I have just copied someone's post of 7 legged diametric by redrawing it. The parallelogram is my patent. |
These are "old" getting discussions....
1) This chart I had mentioned / drawn / seen earlier following a seminar from a EW technician who has NOT GONE WRONG (even this time I had mentioned in my earlier post that he was mentioning in Dec markets down till Feb and touching 6800+ by Aug
2) In one of todays banks TA research reports, 7 legged diagmetric has been menbtioned in smaller time frame for Bank Nifty which shall touch the 100 percent retrace (now some 85-89 percent is done) up....the G leg
3) In one of other banks research reports published weekly, 7 legged diagmetric "possibility" has been discussed for "months" ....
4) The long term counts are also known to EW technicians (just to reiterate we are in 3rd wave of 3rd wave up from low of 5119)..we shall thus make 5th of 3rd followed by 4th and then 5th shall start..this shall take 10 or more years to complete (forget time counts but there are "precise" time estimates as well based on EW)...so 20000/30000 nifty etc has been plotted by many ( and better ones have even plotted time duration of each wave and targets)...obviusly based on market movements (the time duration would be revisted often)...
So pls note that I mentioned in dec 2013 that 2014 should not be shorted...giving repeated targets of 7100 (realistic) and 7800(realistic but depends on time frame) |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #155 Posted: Wed Mar 12, 2014 12:36 am Post subject: |
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| vinay28 wrote: | Nifty for Wednesday (12/03/14)
Supports are at about 6508, 6494, 6484, 6425 and 6390 while resistances are at about 6576/84 and 6640. (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 6475, 6468 and 6300 (-WWs with much lower targets are not mentioned as of now). A big bullish flag gives higher level unless killed below 6430.
Nifty fell a bit but managed to close above 6500. But there is a mild -ve div on daily chart and the daily candle is a doji, which indicates uncertainty. If nifty closes above about 6555, it could go up further while if it closes below 6460, it could fall much more. Oil price and/or INR and other global cues will remain key to the future of Indian markets in short to medium term. VIX is rising slowly and can cause wild swings.
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hey, saumya is missing. saumyaaaaaaa, where are you?
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saumya gayab hai kyunki usne chandu ke chacha ko chandani chamce se something something |
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saumya12
Brown Belt
Joined: 21 Dec 2011
Posts: 1509
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| Post: #156 Posted: Wed Mar 12, 2014 2:22 am Post subject: |
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| apka wrote: | | vinay28 wrote: |
hey, saumya is missing. saumyaaaaaaa, where are you?
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saumya gayab hai kyunki usne chandu ke chacha ko chandani chamce se something something |
Missing 
Why missing.
I am very much here on the Earth, but in different time zone.
Just 12.30 hrs behind IST
Guys, I am in US, on an official visit.
Will return sometime after Holi. |
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pkholla
Black Belt
Joined: 04 Nov 2010
Posts: 2890
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| Post: #157 Posted: Wed Mar 12, 2014 9:18 am Post subject: |
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| saumya12 wrote: | | I am very much here on the Earth, but in different time zone. Just 12.30 hrs behind IST Guys, I am in US, on an official visit. Will return sometime after Holi. |
No wonder it appears as if you are permanently burning midnite oil by posting around 1230am or 130am . You are actually logging in around noon over there in california. cheers
Prakash Holla |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #158 Posted: Wed Mar 12, 2014 10:21 am Post subject: |
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| Sensex has overtaken Hang Seng, for the first time I think. |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #159 Posted: Wed Mar 12, 2014 12:29 pm Post subject: |
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| apka wrote: | | Sensex has overtaken Hang Seng, for the first time I think. |
Hangseng and Sensex have similar 5 years consols and has/shall break the highs...
i posted sometime back "similar" South Africa chart and mentioned a similar break like it di last year for Sensex.... |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #160 Posted: Wed Mar 12, 2014 1:03 pm Post subject: |
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| vix may cross 17.52 causing one more fall. |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #161 Posted: Wed Mar 12, 2014 2:04 pm Post subject: |
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| I feel we should see about 6415-25, latest by tmrw. |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #162 Posted: Wed Mar 12, 2014 2:11 pm Post subject: |
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| vinay28 wrote: | | I feel we should see about 6415-25, latest by tmrw. |
Equivalent levels of axis and sbi are 1365/1600 spot. |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #163 Posted: Wed Mar 12, 2014 2:20 pm Post subject: |
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| vinay28 wrote: | | I feel we should see about 6415-25, latest by tmrw. |
had exited my position [shall re-enter Idea and UPL and may be Tata Global at appropriate time] just a while back and then saw ur post.....feel the same...i mentioned trading futures as tricky few days before.... |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #164 Posted: Wed Mar 12, 2014 2:46 pm Post subject: |
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| as of now, selling 6700ce and 6400pe looks a good idea. |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #165 Posted: Wed Mar 12, 2014 2:50 pm Post subject: |
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| vinay28 wrote: | | as of now, selling 6700ce and 6400pe looks a good idea. |
going for Rs 50-52....breakeven between 6350-6750...which is very good one.... |
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