iCharts Discussions

[vinay28]

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Friday (20/11/15) and beyond

Supports are at about 7818, 7807, 7784, 7762, 7725 and 7702 while resistances are at about 7869, 7893, 7913, 7932 and 8026. Unfilled gaps on higher/lower sides are at about 7916/7731. 50 dma is at about 7981. Three +WWs can give about 7873, 7917 and 7970 (if above 7757) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7793 (if below 7855) and 7657 (if below 7868) (-WWs with lower targets are not mentioned as of now).

Nifty rose sharply in spite of a big gap up open to close below 7850. The bullish div can give a sharp and vicious recovery but only if buying emerges. On daily basis, nifty must close above 7873/7956 while on weekly basis, it must close above 7776 but preferably above 7983. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully, expiry being next week, which is truncated.

[vinay28]

[AjitS]

Prakash, if you are interested, decide how much you are prepared to loose and accordingly buy 8100ce tmrw.[/quote]

Vinay,

That comment was on my mind and helped me quickly change my position to Long once NIFTY crossed 7850.

What target do you see on NIFTY? for NOV Expiry and in December?

[pkholla]

[vinay28]

[vinay28]

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Tuesday (24/11/15) and beyond

Supports are at about 7821, 7795, 7742 and 7702 while resistances are at about 7879, 7889, 7906, 7941, 7957 and 8022. Unfilled gaps on higher/lower sides are at about 7916/7731. 50 dma is at about 7990. Three +WWs can give about 7881/7926 (if above 7832) and 7973 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7762 (if below 7869) and 7745 (if below 7834) (-WWs with lower targets are not mentioned as of now).

Nifty fell after a gap up open and closed -ve just below 7850. Daily candle is an inside bar. Monday was a NR6 day and we may see a big move on Tuesday. The bullish div can give a sharp and vicious recovery but only if buying emerges. A close above 7955 may take it up more while a close below 7731 may start fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully, this being a truncated expiry week.

[riteshucha]

yest inside bar low broken .... longs to be taken above NS 7878 only strictly... till then nifty will be under pressure... below 7791 NF, it might crack...

[vinay28]

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Thursday (26/11/15) and beyond

Supports are at about 7803, 7778, 7742 and 7702 while resistances are at about 7841, 7867, 7889, 7899, 7920, 7941 and 8022. Unfilled gaps on higher/lower sides are at about 7916/7731. Three +WWs can give about 7911 (if above 7808), 7932 and 7982 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7794 and 7739 (if below 7870) (-WWs with lower targets are not mentioned as of now).

Nifty fell a bit and closed -ve below 7850. Daily candle is a doji with strong -ve volume and we may see further fall. The bullish div continues and can give a sharp and vicious recovery but only if buying emerges. A close above 7955 may take it up more while a close below 7731 may start fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully, this being an expiry day.

[riteshucha]

any break of 7830 on NF, might be a problem....longs better keep STOP as 7829 NF...
will buy 7800 PE, if 7822 breaks....

[riteshucha]

NF longs for today are safe till NF holds 7894... breaking 7894, longs should be cut...
NF intra stops are at 7921, ... buy on dips till 7944 / 7950 target 7984 / 8007 / 8029...

[manojkr78]

thanks ritesh...

[riteshucha]

intra longs stop at 7940... .. above 7984 target 8007 / 8029 / 8052...

sell below 7924, STOP 7965 target 7902 / 7880 / 7858...