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NIFTY VIEW - November |
apka
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Joined: 13 Dec 2011
Posts: 6137
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Post: #271  Posted: Thu Nov 15, 2012 9:24 am Post subject: |
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| apka wrote: | | im now trading with anticipation to see 5615 spot this week. |
came and gone 
now i have longed with SL 5608 for a reversal upside till 5705 |
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psalm
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Joined: 12 Nov 2011
Posts: 5368
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| Post: #272 Posted: Thu Nov 15, 2012 9:29 am Post subject: |
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| apka wrote: | | apka wrote: | | im now trading with anticipation to see 5615 spot this week. |
came and gone
now i have longed with SL 5608 for a reversal upside till 5705 |
The market is trading around 5724 levels after making a low of around 5715 where there is reasonable support. There is significant support for "NIFTY FUTURE' in the range 5645-5640 range. Today's low is around 5642. So, around the range 5650-5640, the risk/reward is favourable for the long trade because the stoploss is very very close. Having said that if the Nifty Future dives below 5640 levels, there is good chance for it to go down by another 60 or 70 points, I feel. On the upside, levels around 57010 or 5730 (spot levels) could be possible if there is any pullback. |
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pkholla
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Joined: 04 Nov 2010
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| Post: #273 Posted: Thu Nov 15, 2012 9:35 am Post subject: |
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| Sam: U obviously havent had your 'wake up coffee'! Lots of typos. Please correct. Prakash Holla |
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psalm
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Joined: 12 Nov 2011
Posts: 5368
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| Post: #274 Posted: Thu Nov 15, 2012 9:37 am Post subject: |
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| vinay28 wrote: | | The way nifty is moving, it gives an impression that bottom is over or near to it. |
Vinay, there is chance that we could make another dip and then bounce back to 5750 or 5780 again....cos, the global markets are getting to a state where they appear slightly over-sold.....the S&P 500 has reasonable support around 1335-1330 range...that means another percentage correction could be possible, but that COULD pave way for a pullback.....Having said all these the over-sold market can continue being there for a long time during the sell-off periods.....so, there is no guarantee that there will be a bounce back....but the odds of a bounce back is more now....Another factor is the Dollar index...the dollar index is hovering near some key resistances....So, a correction can't be ruled out in dollar.....Anyway, let's wait and see how the markets are gonna perform in the next few days....  |
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psalm
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Joined: 12 Nov 2011
Posts: 5368
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| Post: #275 Posted: Thu Nov 15, 2012 9:39 am Post subject: |
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| pkholla wrote: | | Sam: U obviously havent had your 'wake up coffee'! Lots of typos. Please correct. Prakash Holla |
sorry, was covering some stock shorts....I mean I was a bit busy as well...that's why tried to type a bit fast....anyway, it was not 57010...it was 5710.... |
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vinay28
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Joined: 24 Dec 2010
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| Post: #276 Posted: Thu Nov 15, 2012 9:49 am Post subject: |
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| 31/10 low of about 5583 should not be broken otherwise it will make bulls nervous though 5540 is a possibility, however remote |
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psalm
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Joined: 12 Nov 2011
Posts: 5368
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| Post: #277 Posted: Thu Nov 15, 2012 9:59 am Post subject: |
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| vinay28 wrote: | | 31/10 low of about 5583 should not be broken otherwise it will make bulls nervous though 5540 is a possibility, however remote |
The situation is not getting any better for the bulls, Vinay.....but we're coming to a make or break point for the next day or two.....if we break below 5615-5610 range (in nifty Future its 5650-5640 range), there is good chance for another 60 point correction, I feel....Earlier, I had mentioned that I'm looking for the area 5520-5490 to book partial profit in my Nifty positions....I still think that way.....but for those who take positions for a day or two...levels around 5610-5615 (or 5640-5645 NF) offers reasonable risk/reward ratio in going LONG.... |
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SP50
Brown Belt
Joined: 26 Nov 2010
Posts: 1615
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| Post: #278 Posted: Thu Nov 15, 2012 10:46 am Post subject: |
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| Volume seems to be low today.. |
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psalm
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Joined: 12 Nov 2011
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| Post: #279 Posted: Thu Nov 15, 2012 10:49 am Post subject: |
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| taxmann50 wrote: | | Volume seems to be low today.. |
Now, I have a feeling that the market could go down by another 60 point or so.....as we've gone below 5640 levels....wont be surprised if NIFTY FUTURE tests 5580-5570 in a day or two... |
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SP50
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Joined: 26 Nov 2010
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| Post: #280 Posted: Thu Nov 15, 2012 10:50 am Post subject: |
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| psalm wrote: | | taxmann50 wrote: | | Volume seems to be low today.. |
Now, I have a feeling that the market could go down by another 60 point or so.....as we've gone below 5640 levels....wont be surprised if NIFTY FUTURE tests 5580-5570 in a day or two... |
Samji Dollar index above 81  |
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psalm
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| Post: #281 Posted: Thu Nov 15, 2012 10:55 am Post subject: |
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| taxmann50 wrote: | | psalm wrote: | | taxmann50 wrote: | | Volume seems to be low today.. |
Now, I have a feeling that the market could go down by another 60 point or so.....as we've gone below 5640 levels....wont be surprised if NIFTY FUTURE tests 5580-5570 in a day or two... |
Samji Dollar index above 81 |
Its not just 81 levels that I was looking at, Taxmann...its the area 81.2-81.5....on tuesday, the index had touched around 81.25 or so....but still the index is around its resistance....if there is a pullback towards 79.5 or so...the global markets could rally....that's why I'm a bit cautious regarding the downside....anyway, let's wait and see... |
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apka
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Joined: 13 Dec 2011
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| Post: #282 Posted: Thu Nov 15, 2012 10:59 am Post subject: |
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| taxmann50 wrote: | | Volume seems to be low today.. |
nifty fut volumes are fine, above 3 million so far in 1.5 hours. |
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SP50
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Joined: 26 Nov 2010
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| Post: #283 Posted: Thu Nov 15, 2012 11:03 am Post subject: |
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Dhamaka cricket chal raha hai, market dekhu ya cricket  |
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psalm
Black Belt
Joined: 12 Nov 2011
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| Post: #284 Posted: Thu Nov 15, 2012 11:05 am Post subject: |
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| taxmann50 wrote: | | Dhamaka cricket chal raha hai, market dekhu ya cricket |
openers are back in form......  |
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saumya12
Brown Belt
Joined: 21 Dec 2011
Posts: 1509
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| Post: #285 Posted: Thu Nov 15, 2012 11:07 am Post subject: |
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Sam, Please mention the various support level available for nifty below 5625 to 5575.
Thanks |
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