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Nifty View - November Series |
vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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Post: #151  Posted: Wed Nov 12, 2014 2:16 pm Post subject: |
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| vinay28 wrote: | | sorry badrek, SL is 8435/50NF and not NS. |
8447.90NF was high |
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mdsaravana
White Belt
Joined: 07 Feb 2014
Posts: 19
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| Post: #152 Posted: Wed Nov 12, 2014 2:54 pm Post subject: |
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| vinay, if nifty spot close below 8380 then candle stick is interesting one know. |
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vinay28
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Joined: 24 Dec 2010
Posts: 11748
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| Post: #153 Posted: Wed Nov 12, 2014 3:11 pm Post subject: |
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| looks like evening star cum inverted hammer. if so, then a gap down open with a red candle will confirm abandoned baby. Otherwise, we could see a higher high with big red candle (bearish engulfing) and -ve div if nifty is indeed going to fall. |
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mdsaravana
White Belt
Joined: 07 Feb 2014
Posts: 19
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| Post: #154 Posted: Wed Nov 12, 2014 3:16 pm Post subject: |
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| vinay28 wrote: | | looks like evening star cum inverted hammer. if so, then a gap down open with a red candle will confirm abandoned baby. Otherwise, we could see a higher high with big red candle (bearish engulfing) and -ve div if nifty is indeed going to fall. |
thanks vinay |
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harsh_85
White Belt
Joined: 06 Nov 2011
Posts: 16
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| Post: #155 Posted: Wed Nov 12, 2014 3:17 pm Post subject: |
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| vinay28 wrote: | | Otherwise, we could see a higher high with big red candle (bearish engulfing) and -ve div if nifty is indeed going to fall. |
sir kindly explain this sentence..sorry |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #156 Posted: Wed Nov 12, 2014 3:27 pm Post subject: |
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| harsh_85 wrote: | | vinay28 wrote: | | Otherwise, we could see a higher high with big red candle (bearish engulfing) and -ve div if nifty is indeed going to fall. |
sir kindly explain this sentence..sorry |
it's self explanatory harsh. If nifty is indeed going to fall then we need a reversal sign, right? one is gap down open and red candle and other is, in case nifty makes a higher high tmrw then, there should be a big red bearish engulfing candle with lower low too and -ve div. |
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riteshucha
Green Belt
Joined: 19 May 2012
Posts: 1292
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| Post: #157 Posted: Wed Nov 12, 2014 3:30 pm Post subject: |
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| isnt it like a gravestone doji??? vinay... |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #158 Posted: Wed Nov 12, 2014 3:49 pm Post subject: |
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| riteshucha wrote: | | isnt it like a gravestone doji??? vinay... |
a parent mother was walking by a KG class in which her son was studying. She happened to hear teacher say "carrot yane mulee".
The mother couldn't resist, entered the class and said "but teacher, isn't mulee radish?"
teacher replied "yes yes, sometimes reddish, sometimes whitish"!
gravestone doji is also an inverted hammer, right? when I posted, I didn't know where it will close.  |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #159 Posted: Wed Nov 12, 2014 6:37 pm Post subject: |
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| About 8355NS is crucial. If taken out target is about 8240 but daily close below 8265 looks unlikely. |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #160 Posted: Wed Nov 12, 2014 7:27 pm Post subject: |
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Nifty for Thursday (13/11/14)
Supports are at about 8371, 8364, 8345, 8330, 8296 and 8255 while resistances are at about 8390, 8409, 8435 and 8528. An unfilled gap on lower side is at about 8169. A +WW can give 8436 (if above 8376) (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 8352 (if below 8384), 8268 (if below 8370) and 8212 (once below 8339) (-WWs with much lower targets are not mentioned as of now). A channel BO/BD can give 8515/8230.
Nifty closed flattish again but above 8350. Daily candle is an inverted hammer cum gravestone doji cum evening star and one needs to be cautious with longs. Also, there is a -ve div on daily and weekly TF and it will not go unless rsi crosses 75.08 on daily to begin with. A close below 8266 will invite bears. Global and local eco-political events can have a bearing on how nifty moves in short term. |
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riteshucha
Green Belt
Joined: 19 May 2012
Posts: 1292
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| Post: #161 Posted: Thu Nov 13, 2014 12:36 pm Post subject: |
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| vinay, does a dark cloud cover need confirmtion on next candle or its a confirmed reversal sign...??? |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #162 Posted: Thu Nov 13, 2014 12:43 pm Post subject: |
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| riteshucha wrote: | | vinay, does a dark cloud cover need confirmtion on next candle or its a confirmed reversal sign...??? |
ritesh, in general, all such signs need confirmation since charts don't decide prices but it's the other way. But once it is formed, we can identify good SLs either way. Pl post chart if you can. |
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riteshucha
Green Belt
Joined: 19 May 2012
Posts: 1292
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| Post: #163 Posted: Thu Nov 13, 2014 1:14 pm Post subject: |
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| sure.. thanks... |
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riteshucha
Green Belt
Joined: 19 May 2012
Posts: 1292
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| Post: #164 Posted: Thu Nov 13, 2014 1:29 pm Post subject: |
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| just have a look at the candles forming on (daily)Axis & ICICI, both sold off from the high... axis more like a dark cloud & icici bearish engulfing... if it closes lower or round abt current area, can it be a good opportunity to short tomm??... what say vinay... |
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dilpat
White Belt
Joined: 18 Mar 2013
Posts: 19
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| Post: #165 Posted: Thu Nov 13, 2014 2:37 pm Post subject: |
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Vinay sir,
Shorted NF @8435 should i hold?
| vinay28 wrote: | | About 8355NS is crucial. If taken out target is about 8240 but daily close below 8265 looks unlikely. |
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