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Nifty View - March Series 2014
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Nifty View - March Series 2014

vinay28
Black Belt

Joined: 24 Dec 2010
Posts: 11748

Post: #211

Posted: Tue Mar 18, 2014 8:39 am Post subject:

apka wrote:

the screenshot from your desktop didn't look you were using a MAC and there was no windows start button... so was curious Smile

(OS - Operating System)

vin(ay)dows 8.1. Laughing

Last edited by vinay28 on Tue Mar 18, 2014 8:39 am; edited 1 time in total

apka
Black Belt

Joined: 13 Dec 2011
Posts: 6137

Post: #212

Posted: Tue Mar 18, 2014 8:39 am Post subject:

vinay28 wrote:

Have you checked money flow index, on balance volume and force index? And -ve div on weekly with a doji with higher volume? Something's not right or may be I am reading too much in them. My worries will increase as nifty breaks below 6487/46/12 and/or closes below 10dma when IMHO it turns bearish.

Yeh those should be watched for. We can continue to lead also for a while despite that. I don't know about the force index indicator.

Isn't today the announcement by the RBI for new banking licenses?

saurabhkurichh
White Belt

Joined: 30 Oct 2006
Posts: 127

Post: #213

Posted: Tue Mar 18, 2014 10:01 am Post subject:

]

Quote:

Isn't today the announcement by the RBI for new banking licenses?

today ??

nothing on CNBC yet abt it

apka
Black Belt

Joined: 13 Dec 2011
Posts: 6137

Post: #214

Posted: Tue Mar 18, 2014 10:05 am Post subject:

saurabhkurichh wrote:

]

Quote:

Isn't today the announcement by the RBI for new banking licenses?

today ??

nothing on CNBC yet abt it

I must have mixed up reading the running flash news.

amitagg
Black Belt

Joined: 01 Oct 2013
Posts: 4559

Post: #215

Posted: Tue Mar 18, 2014 1:19 pm Post subject:

vinay28 wrote:

Nifty for Tuesday (17/03/14)

Supports are at about 6485, 6430, 6412, 6383 and 6357 while resistances are at about 6531, 6543, 6565 and 6646. Two +WWs can give about 6578 and 6619 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 6479 and 6378 (-WWs with much lower targets are not mentioned as of now). A bullish flag gives higher level unless killed below about 6470. A channel BD can give 6420 if nifty remains below 6487.

Nifty rose sharply after a gap down open and managed to close just above 6500 but still looks a bit bearish. Though there is a mild +ve div on daily chart, there is also a mild -ve div on weekly chart and that too with higher volume. Also, the weekly candle is a doji showing uncertainty. Weekly support is about 6400. Unless nifty closes above about 6565, it won't go up further but if it closes below about 6430, 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 can cause wild intraday swings.

hence caution advised for longs at this juncture.....[a fresh immediate buy above 6565 NS ]

rk_a2003
Black Belt

Joined: 21 Jan 2010
Posts: 2734

Post: #216 Posted: Tue Mar 18, 2014 3:55 pm Post subject:

It seems a pin bar was formed in nifty (need to look at volumes).Which usually followed by lower level day. We may revisit 6430 levels again tomorrow and that could be a beginning of correction too. Will revert back after scrutinizing EOD data.

vinay28
Black Belt

Joined: 24 Dec 2010
Posts: 11748

Post: #217

Posted: Tue Mar 18, 2014 4:27 pm Post subject:

rk_a2003 wrote:

It seems a pin bar was formed in nifty (need to look at volumes).Which usually followed by lower level day. We may revisit 6430 levels again tomorrow and that could be a beginning of correction too. Will revert back after scrutinizing EOD data.

but it's not at the top of a trend even though a new high was made. As of now, IMHO, breach of 6572NS/6595NF is good enough sign that higher levels may come, may or may not be in this expiry.

apka
Black Belt

Joined: 13 Dec 2011
Posts: 6137

Post: #218

Posted: Tue Mar 18, 2014 4:34 pm Post subject:

rk_a2003 wrote:

rk, were 3rd & 13th march also a pinbar?

rk_a2003
Black Belt

Joined: 21 Jan 2010
Posts: 2734

Post: #219

Posted: Tue Mar 18, 2014 4:55 pm Post subject:

apka wrote:

rk_a2003 wrote:

rk, were 3rd & 13th march also a pinbar?

apka,13th is a doji also can be considered as a pin bar. 3rd is not a pin bar just a doji.

vinay28
Black Belt

Joined: 24 Dec 2010
Posts: 11748

Post: #220 Posted: Tue Mar 18, 2014 4:59 pm Post subject:

updated chart. looks like back to square one after a false break out?

rk_a2003
Black Belt

Joined: 21 Jan 2010
Posts: 2734

Post: #221

Posted: Tue Mar 18, 2014 5:13 pm Post subject:

vinay28 wrote:

rk_a2003 wrote:

but it's not at the top of a trend even though a new high was made. As of now, IMHO, breach of 6572NS/6595NF is good enough sign that higher levels may come, may or may not be in this expiry.

6574.95 is high of NS.Is it not high point as of now?. I think it can be considered as top of the trend as of now.

However it's just a thought. In bullish market in a whisker market may go up again. I am of the opinion that it's not an easy task to carry a positional SHORT in bullish markets; therefore not inclined to take a positional short.

Intraday or STBT's are a different story ...that we can afford and execute that too with brisk profit booking.

apka
Black Belt

Joined: 13 Dec 2011
Posts: 6137

Post: #222 Posted: Tue Mar 18, 2014 5:21 pm Post subject:

thanks rk meanwhile dax has gone crazy after putin's comment.

vinay28
Black Belt

Joined: 24 Dec 2010
Posts: 11748

Post: #223

Posted: Tue Mar 18, 2014 5:23 pm Post subject:

rk_a2003 wrote:

vinay28 wrote:

rk_a2003 wrote:

but it's not at the top of a trend even though a new high was made. As of now, IMHO, breach of 6572NS/6595NF is good enough sign that higher levels may come, may or may not be in this expiry.

you didn't get my point rk. what I meant in other words was the real body of today's candle should have been above about 6050.

amitagg
Black Belt

Joined: 01 Oct 2013
Posts: 4559

Post: #224

Posted: Tue Mar 18, 2014 5:24 pm Post subject:

vinay28 wrote:

updated chart. looks like back to square one after a false break out?

my reading tell me it is purely a retrace...markets behaving fantastically for bulls......after a strong unexpected upmove. we are witnessing only a sideways consolidation.....

your lower channel suport should be held for this view to remain...for very short term.......

i am only looking for buy opportunities.....

short sellers would again be trapped....

vinay28
Black Belt

Joined: 24 Dec 2010
Posts: 11748

Post: #225

Posted: Tue Mar 18, 2014 5:30 pm Post subject:

amitagg wrote:

vinay28 wrote:

updated chart. looks like back to square one after a false break out?

though lower levels posted earlier are still valid, it will be one way up if tmrw makes a higher low, say, 6511NS

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