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Nifty View - November Series |
vinay28
Black Belt
Joined: 24 Dec 2010
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Post: #1  Posted: Fri Oct 31, 2014 9:48 am Post subject: Nifty View - November Series |
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Nifty for Friday (31/10/14)
Supports are at about 8141, 8109, 8092, 8076, 8048, 8034 and 7994 while resistances are at about 8206, 8242 and 8333. Unfilled gap on lower side is at about 8027. Two +WW can give about 8231 and 8257 (+WWs with higher targets are not mentioned as of now). Five -WWs can give about 8129, 8090 (once below 8126), 8041 (if below 8099), 7990 (once below 8114) and 7971 (once below 8076) (-WWs with much lower targets are not mentioned as of now). A rising wedge can give at least about 7900 in case of a BD below 8120.
Nifty rose sharply to make an all time high and also close at an all time high and is clearly bullish. Daily candle is a Marubuzo while monthly candle will be bullish engulfing. The bearish div posted earlier has vanished but now a -ve div has appeared and will not go unless rsi crosses 75.08. A close below 8027 can also cause further slide. Global and local eco-political events can have a bearing on how nifty moves in short term. |
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vinay28
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| Post: #2 Posted: Fri Oct 31, 2014 9:49 am Post subject: |
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I feel today will be a day for midcaps.
Incidentally NS made a high of 8241. Good place to short I feel. |
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pkholla
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| Post: #3 Posted: Fri Oct 31, 2014 9:59 am Post subject: |
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Vinay: [Incidentally NS made a high of 8241. Good place to short I feel.]
But a word of caution. Bullish senti still there. FED Janet's announcement of easing/ ending QE had no effect. Glow from Mah/ Haryana adding to feel good factor. Liquidity still there with FIIs buying. NF no of buyers > no of sellers and GAP WIDENING.
Better to wait and watch for signs of actual reversal like RSI indicator and incr in sellers. Cheers, Prakash Holla |
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vinay28
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| Post: #4 Posted: Fri Oct 31, 2014 10:00 am Post subject: |
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| The rising wedge posted yesterday has actually broken out with a target of about 8400. Even if it is a false BO, BD levels are 8175/8140. Only below that lower levels possible. |
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vinay28
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| Post: #5 Posted: Fri Oct 31, 2014 10:27 am Post subject: |
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| Updated NF levels. |
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pkholla
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| Post: #6 Posted: Fri Oct 31, 2014 10:31 am Post subject: |
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| pkholla wrote: | | Better to wait and watch for signs of actual reversal like RSI indicator and incr in sellers. Cheers, Prakash Holla |
Is NF ready to reverse?
No of Buyers steady
No of Sellers suddenly shot up from 530000+ to 900000+
Prakash Holla |
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vinay28
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| Post: #7 Posted: Fri Oct 31, 2014 10:40 am Post subject: |
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I feel 8329NF may be max but bottom is now at 8080.
Last edited by vinay28 on Fri Oct 31, 2014 11:05 am; edited 1 time in total |
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kaydee11
White Belt
Joined: 29 Jan 2014
Posts: 79
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| Post: #8 Posted: Fri Oct 31, 2014 10:54 am Post subject: |
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| vinay28 wrote: | | I feel 8325NF may be max but bottom is now at 8080. |
Good
Keep increasing bottom  |
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riteshucha
Green Belt
Joined: 19 May 2012
Posts: 1292
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| Post: #9 Posted: Fri Oct 31, 2014 10:56 am Post subject: |
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as per sgx, upper band comes to arnd 8330
intraday looking for 8323- 8334, will add more pe there.. |
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amitagg
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Joined: 01 Oct 2013
Posts: 4559
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| Post: #10 Posted: Fri Oct 31, 2014 10:57 am Post subject: |
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| only one piece of advice........last wave ....sucker....can go to any length.....trade one way only!!! and not intra day but with more time perspecive....and keep quantities small....... |
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amitagg
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| Post: #11 Posted: Fri Oct 31, 2014 11:00 am Post subject: |
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| amitagg wrote: | | only one piece of advice........last wave ....sucker....can go to any length.....trade one way only!!! and not intra day but with more time perspecive....and keep quantities small....... |
and no mindless addition to either longs or shorts (additions only on daily basis not hourly) ....no greed or fear (oft stated).....both longs and patience shorts shall profit big way in this ...... |
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vinay28
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| Post: #12 Posted: Fri Oct 31, 2014 11:50 am Post subject: |
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This was posted on 23/10
"...........Among the many possibilities, the two most likely according to me are (a) a fall upto about 7660 in about 8 working days from a top to be formed today or next week, then 61.80% recovery before a double bottom in about 6 more working days (i.e. by mid Nov) and then a recovery to about 8275/8400 till dec and ........"
8275 to sala aaj hi aa gaya! |
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ritapandit25
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Joined: 04 May 2013
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| Post: #13 Posted: Fri Oct 31, 2014 12:08 pm Post subject: |
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| vinay28 wrote: | This was posted on 23/10
"...........Among the many possibilities, the two most likely according to me are (a) a fall upto about 7660 in about 8 working days from a top to be formed today or next week, then 61.80% recovery before a double bottom in about 6 more working days (i.e. by mid Nov) and then a recovery to about 8275/8400 till dec and ........"
8275 to sala aaj hi aa gaya! |
Yes Vinay no one expecting this kind of rally including me but this is a nature of 5th wave similar to 3rd wave. |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #14 Posted: Fri Oct 31, 2014 12:12 pm Post subject: |
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| ritapandit25 wrote: | | vinay28 wrote: | This was posted on 23/10
"...........Among the many possibilities, the two most likely according to me are (a) a fall upto about 7660 in about 8 working days from a top to be formed today or next week, then 61.80% recovery before a double bottom in about 6 more working days (i.e. by mid Nov) and then a recovery to about 8275/8400 till dec and ........"
8275 to sala aaj hi aa gaya! |
Yes Vinay no one expecting this kind of rally including me but this is a nature of 5th wave similar to 3rd wave. |
indeed rita, thanks. 
I am actually bearish from today to next Friday and all I want is at least 8080NF. |
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ritapandit25
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Joined: 04 May 2013
Posts: 2926
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| Post: #15 Posted: Fri Oct 31, 2014 12:15 pm Post subject: |
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| vinay28 wrote: | | ritapandit25 wrote: | | vinay28 wrote: | This was posted on 23/10
"...........Among the many possibilities, the two most likely according to me are (a) a fall upto about 7660 in about 8 working days from a top to be formed today or next week, then 61.80% recovery before a double bottom in about 6 more working days (i.e. by mid Nov) and then a recovery to about 8275/8400 till dec and ........"
8275 to sala aaj hi aa gaya! |
Yes Vinay no one expecting this kind of rally including me but this is a nature of 5th wave similar to 3rd wave. |
indeed rita, thanks.
I am actually bearish from today to next Friday and all I want is at least 8080NF. |
Yes Vinay hoping me too but if it is 5th then it will not go below 8100NS |
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