iCharts Discussions

dilpat · White Belt Joined: 18 Mar 2013 Posts: 19

Ok sir,
Thanks a lot..

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

why 8285NF looks like worst case this month. Perhaps tmrw.

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

The 15 month rising wedge. Since it is not very narrow, it is still much short of 70% length to its apex and hence not likely to break down now. Also, even if it were to break down soon below 8000, it will mean AT LEAST a 1400 point drop. Since that is highly unlikely in near term, the more likely scenario is either continuation of the wedge with price rising in narrowing, sharply rising, smaller wedges and/or a break out for much higher levels.

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

Nifty for Friday (14/11/14)

Supports are at about 8330, 8296 and 8255 while resistances are at about 8377, 8409 and 8528. An unfilled gap on lower side is at about 8169. Two +WWs can give 8400 (if above 8338) and 8428 (if above 8287) (+WWs with higher targets are not mentioned as of now). Four -WWs can give about 8254, 8225 (once below 8439), 8211 (if below 8423) and 8185 (once below 8338) (-WWs with much lower targets are not mentioned as of now). A channel BO/BD can give 8515/8230. A HnS can give 8280.

Nifty fell after a gap up open but closed above 8350. It made lower lows than previous 2 days and also filled last 2 days' gaps indicating that further fall is likely. The -ve div on daily and weekly TF continues and 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.

harsh_85 · White Belt Joined: 06 Nov 2011 Posts: 16

vinay sir, whats ur view of the markets? many people are talking about 8600 plus till dec may be 9000...

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

ragavan · White Belt Joined: 24 Sep 2014 Posts: 12

Dear vinyl we can see 8300 today

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

apka · Black Belt Joined: 13 Dec 2011 Posts: 6137

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

dilpat · White Belt Joined: 18 Mar 2013 Posts: 19

Vinay sir,
as u said rightly, i would have booked around 8350 yesterday....

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

dilpat · White Belt Joined: 18 Mar 2013 Posts: 19

Ok sir....

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

Nifty for Monday (17/11/14)

Supports are at about 8371, 8357, 8325, 8296 and 8255 while resistances are at about 8412, 8433 and 8528. Two +WWs can give 8406 (if above 8321) and 8420 (if above 8330) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8340 (if below 8390) and 8331 (if below 8393) (-WWs with much lower targets are not mentioned as of now). A channel BO/BD can give 8505/8270. A HnS can give 8270 while an IHnS can give 8425.

Nifty rose after an intraday fall to close above 8350 at a new all time high. Daily candle is an inside bar and there is a bearish div., which will vanish only if nifty crosses 8415 on Monday. Otherwise, we could see a 100 point drop. Also, the -ve div on daily and weekly TF over longer period continues and will not go unless rsi crosses 75.08 on daily to begin with. A close below 8310 will invite bears. Global and local eco-political events can have a bearing on how nifty moves in short term.