iCharts Discussions

[bharatpatel]

[vinay28]

[vinay28]

Alert

When VIX to CBOE VIX (US) ratio goes to 1.38-1.4, market bottoms out. So I feel nifty bottom is nearby (probably max 1-2 days, though 5880 is possible).

Accordingly expiry may be at least 6050-80.

[apka]

ok.

our VIX moving as per chart.... now 20 is near.

[vinay28]

vix 19.35 high

[apka]

i read somewhere NF on DC has made three black crows, has it?

[riteshucha]

Yesterday on sgx

[vinay28]

Nifty for Friday (24/05/13)

Supports are at about 5955, 5888 and 5860 while resistances are at about 6010, 6036, 6075, 6100 and 6121. Previous lower levels to watch are 5928 and 5867. Three +WWs give about 6013 (once above 5971), 6104 (once above 6039) and 6166 (once above 6100) (+WWs with higher targets are not mentioned as of now). Three -WWs give about 5950, 5944 and 5881 (-WWs with lower targets are not mentioned presently). Two rising wedges have broken down and can give about 5928/5867 unless nifty reverses from here and goes above 6071. A falling wedge BO can give 6138 unless nifty goes below 5936. A bearish flag can give about 5900 unless it reverses from here and goes above 6040.

Nifty fell sharply again on global clues and just managed to close above 5950 continuining its downmove for the fourth straight day. The weekly candle will most probably be bearish engulfing unless it closes above 6100 on Friday. Even if it closes well above 6035 by end May, the monthly candle will be fine. It has taken support from 34 ema on daily chart and the only hope now is a reversal from present level or, if falls tmrw, a sharp reversal from 5880/5920 zone tmrw itself. If it closes below 5900 then next level can be 200 sma, which is at about 5750. A very high value of VIX and PCR have caused sharp and sudden movements in the last few days. Only a noticeable drop in them along with global cues and/or liquidity can take nifty up. VIX may top out tmrw (if not already done today) while pcr has already fallen a bit to 1.12.

[apka]

it's likely to remain between 5830-6000 for the rest of the series.... because 6000ce has added 30 lakh shares total now 58 lakh ... doubled nearly expiry. plus 5900ce has added 9 lakh shares .. total is lower, but it seems we are going below 5900 once in this series.

VIX may not cross 20 tomorrow, but 21-22 is still possible next week. but that should be the top out.

[vinay28]

50% retracement of upmove from 12/4 comes to about 5860. But it may stop at about 5905 also. Let's see what happens tmrw, which is crucial.

[vinay28]

Two alternate possibilities attached.

[apka]

ok.

i am not going to consider 6000ce build up to act as a resistance for the moment, fno has been strange last 3-4 weeks.

[vinay28]

[SP50]

[vinay28]

as of now no.

vix high of 18.80. now to see whether it keeps falling