iCharts Discussions

[vinay28]

Nifty for Thursday (27/11/14)

Supports are at about 8442/36, 8409 and 8382 while resistances are at about 8505, 8529/34 and 8580. Five +WWs can give about 8489 (if above 8455), 8516 (if above 8410), 8534 (if above 8461), 8546 (once above 8488) and 8534 (if above 8461) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8451 (if below 8504) and 8352 (once below 8438) (-WWs with much lower targets are not mentioned as of now). A channel BO/BD can give 8580/8350.

Nifty rose and closed well above 8450. The -ve div on daily and weekly TF over longer term still persists. Also, a bearish div has appeared and will not go unless nifty crosses 8536. A close below 8425 will invite bears. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully being an expiry day.

[vinay28]

nov fut in a sell with 8495NF as SL while dec fut in a buy with 8475NF as SL.

IMHO, up till afternoon and then down after 1.30pm.

[riteshucha]

vinay / apka,

i feel yest fall in the last half an hour has some shorters of 8500 PE trapped... if 8500 PE starts to trade above 40 and sustains above it, we may see a good fall...
only problem i see is the 8450 PE is builidng up, hence support can be seen at 8440/8445.. unless this starts to cut, dont see any major fall coming...
i have pe SL at cost on 8500 PE,

pls correct me if i am worng..

[vinay28]

[riteshucha]

thanks...
btw if IB low breaks, i will tgt 8418 then 8376 NF...

[vinay28]

ritesh, positionally bearish only if 60tf closes below 8350NS

[riteshucha]

well noted..

any black magic trading ideas?? vinay

[vinay28]

[riteshucha]

nifty not going anywhere
both 8450 PE & 8500 CE are being written consistenly, no shedding visible whatso ever....
didnt u predict 8476 expiry closing vinay??/

[vinay28]

[vinay28]

[apka]

i think dip to 8450 then close at 8465

[vinay28]