|
|
| View previous topic :: View next topic |
| Author |
NIFTY VIEW - November |
apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
|
Post: #376  Posted: Sat Nov 17, 2012 8:39 am Post subject: |
 |
|
| vinay28 wrote: | Since June at least, whenever nifty has taken support from this line, it has given a sharp 350-400 point rally in less than 2 weeks. Difficult to judge SL accurately but seems to be about 5500.
Incidentally, today's candle is similar to that on 26th July and 4th June, except for colour of latter candle. |
yeh, incidentally, weekly closing lines were also being taken support at, at the same time.. this time that's broken.. |
|
| Back to top |
|
 |
|
| |
vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
|
| Post: #377 Posted: Sat Nov 17, 2012 1:04 pm Post subject: |
|
|
| apka, can you post weekly closing lines? |
|
| Back to top |
|
|
apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
|
| Post: #378 Posted: Sat Nov 17, 2012 1:24 pm Post subject: |
|
|
heres the charts. as per me 5495-5500 coming as stop n reversal point. if broken, then fall could be severe..
whats ur view |
|
| Back to top |
|
|
vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
|
| Post: #379 Posted: Sat Nov 17, 2012 5:00 pm Post subject: |
|
|
thanks, apka. how do you get closing line? I presume it is a line joining days' close levels? If you draw a TL joining days' lows on nifty spot weekly chart on Jcharts (EOD), it is not broken.
By the way, about 5502 is also a -ww target.
Tell you what, I feel that whatever is going to happen, we will know on Monday/Tuesday and not later.
Also, if you draw highs and lows in Oct, you get a gramaphone and if price reverses on Monday and goes back into gramaphone, then it probably gets defeated, which means no further downmove. That's why Monday and at the most Tuesday is crucial. |
|
| Back to top |
|
|
apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
|
| Post: #380 Posted: Sat Nov 17, 2012 5:32 pm Post subject: |
|
|
ok. i am using chartink, it allows u to select period as daily/weekly/monthly and type as candlesticks/closing/median/weighted/typical/OHLC.
yes on both weekly and daily trendline connecting lows is intact.
the weekly closing just takes friday's closing levels. along with normal candlesticks i find addition of closing lines help in judging trend better - when it's support resistence are respected the trend is more stronger. |
|
| Back to top |
|
|
chetan83
Brown Belt
Joined: 19 Feb 2010
Posts: 2036
|
| Post: #381 Posted: Sat Nov 17, 2012 7:13 pm Post subject: |
|
|
| apka wrote: | heres the charts. as per me 5495-5500 coming as stop n reversal point. if broken, then fall could be severe..
whats ur view |
According to me trendlines are drawn connecting tops or bottoms.
Above chart is mixture of both.
I have tried to post TL analysis of Nifty spot......closing below 5540 for more than 2-3 trading days could be dangerous, next support could be below 5370 |
|
| Back to top |
|
|
vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
|
| Post: #382 Posted: Sat Nov 17, 2012 8:07 pm Post subject: |
|
|
wrong chetan. sometimes they are indeed drawn to join close levels to get a confirmation.
By the way, I am getting 5520 against your 5540. Anyway, as I posted earlier, I feel picture may be crystal clear by latest Tuesday. |
|
| Back to top |
|
|
apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
|
| Post: #383 Posted: Sun Nov 18, 2012 12:07 am Post subject: |
|
|
| @chetan... It can be either, tops/bottoms.... Opening/Closing... Or combo. |
|
| Back to top |
|
|
apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
|
| Post: #384 Posted: Mon Nov 19, 2012 9:58 am Post subject: |
|
|
| now that fridays low is broken, we have breached the trendline of connecting lows by 2 points. |
|
| Back to top |
|
|
vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
|
| Post: #385 Posted: Mon Nov 19, 2012 10:13 am Post subject: |
|
|
| Three things have the power of upsetting world markets in near/distant future, namely, (a) plan by some european countries to join european banking union, which will severely upset UK's financial system, (b) rising tensions in west asia with Isreal calling on reserves and (c) signature campaign by many states in USA to separate from the confederation of US i.e. north american continent will be like europe comprising more than 10 countries. The last is most unlikely as of now but if it happens, it will send shivers across the globe. In the long term, excellent for IT industry though. |
|
| Back to top |
|
|
psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
|
| Post: #386 Posted: Mon Nov 19, 2012 10:28 am Post subject: |
|
|
| vinay28 wrote: | | Three things have the power of upsetting world markets in near/distant future, namely, (a) plan by some european countries to join european banking union, which will severely upset UK's financial system, (b) rising tensions in west asia with Isreal calling on reserves and (c) signature campaign by many states in USA to separate from the confederation of US i.e. north american continent will be like europe comprising more than 10 countries. The last is most unlikely as of now but if it happens, it will send shivers across the globe. In the long term, excellent for IT industry though. |
The things except the second one will take years to happen....I dont think we should think too much about them.....but yes, tension in the middle east could affect the oil prices and the global stability.....having said that there are hell lot of issues for the economies across the world to deal with......
NOTE: Though we're talking about issues affecting the global economies.....the stock market may or may not react to these events....even though the global economies are going through difficulties, the stock markets are not affected by that.....why??...because of the liquidity cushion.....similarly, if the market decides to go up, it will only take the positives in its stride and will continue going up.....at the same time, if the market doesn't want to go up, then even huge liquidity or great fundamental can't even help it....I feel...  |
|
| Back to top |
|
|
SP50
Brown Belt
Joined: 26 Nov 2010
Posts: 1615
|
| Post: #387 Posted: Mon Nov 19, 2012 10:45 am Post subject: |
|
|
| Samji what are the support points today? |
|
| Back to top |
|
|
vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
|
| Post: #388 Posted: Mon Nov 19, 2012 10:51 am Post subject: |
|
|
| sam, you are wrong in one thing. If there is huge liquidity, market will NOT want to go down. After all it is the liquidity (read "they") which makes prices. |
|
| Back to top |
|
|
psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
|
| Post: #389 Posted: Mon Nov 19, 2012 10:54 am Post subject: |
|
|
| taxmann50 wrote: | | Samji what are the support points today? |
Generally, I'm looking for the range 5520-5490 as support, Taxmann.....earlier, I have been planning to book partially in that region...but after re-assessing the situation, I'm planning to book out completely around the above mentioned range....If the overall market start going down further, only then I'll think about initiating fresh shorts.....especially in Nifty......till that time, not doing much trade as the movements are a bit uncertain...by the way, I'm still holding lot of stock shorts, but will be thinking about covering them as we approach 5490 or thereabout. ...  |
|
| Back to top |
|
|
psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
|
| Post: #390 Posted: Mon Nov 19, 2012 10:56 am Post subject: |
|
|
| vinay28 wrote: | | sam, you are wrong in one thing. If there is huge liquidity, market will NOT want to go down. After all it is the liquidity (read "they") which makes prices. |
Yup...agreed....I was looking at Nikkei a while back.. |
|
| Back to top |
|
|
|
|
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
You cannot attach files in this forum
You cannot download files in this forum
|
Powered by phpBB © 2001, 2005 phpBB Group
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
