iCharts Discussions

apka · Black Belt Joined: 13 Dec 2011 Posts: 6137

what in the blue hell

manojkr78 · Green Belt Joined: 07 Mar 2011 Posts: 1014

Vinay,

Nifty RSI yesterday was around 44.....

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

made a cool intraday 19 in axis. 8300ce 17 to 30.

riteshucha · Green Belt Joined: 19 May 2012 Posts: 1292

as always...
thankfully SAR saved me...

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

ragarwal · Yellow Belt Joined: 16 Nov 2008 Posts: 582

great vinay,saved,was long in the morning today and after that what a roller coaster by the markets !!!!

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

updating some of earlier charts into a combined one. Also, adding one more chart. Don't get confused by too many lines. Some are drawn thru gaps to show their importance.

It appears that nifty may reverse from about 8000/8044 latest by 12.15 pm. In that case, likely lower levels are 7965/7920/7875/7840. Sustaining below 7840 can be troublesome. Also, NS must touch/cross 8045 soon, preferably Monday/next week otherwise bearish div can give lower levels.

Higher levels are 8085 and 8115, c close above latter only can give sustained upmove.

Bullish piercing daily candle and a Friday close above 7955 should give hope to bulls for oct which, unless 7840 is taken out, may see 8500NF by Diwali. But a real conviction will come only after sustaining at a new high.

apka · Black Belt Joined: 13 Dec 2011 Posts: 6137

Those are like the Invisible laser alarm system Smile

I thought I'll short nov future, but citing the pick up of buying by DII, it's better to wait.

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

Nifty for Monday (29/09/14)

Supports are at about 7920, 7876, 7833, 7819 and 7783 while resistances are at about 7978, 8000, 8028, 8045, 8070, 8087 and 8102. Four +WWs can give about 8040 (once above 7930), 8050/8086 (once above 7986) and 8120 (once above 8004) (+WWs with higher targets are not mentioned as of now). A -WW can give about 7743 (-WWs with much lower targets are not mentioned as of now). An IHnS can give as much as 8345 if nifty remains above 7950. A HnS can give about 7800/7680 if nifty remains below 7950.

Nifty rose sharply after a gap down open to close above 7950 but is not out of the woods. However, daily candle is bullish piercing and Friday's close above 7954 may have given a glimmer of hope to bulls. Also, it closed well above 50 dma in spite of breaching it. Nifty may reverse from 8000/8044 on Monday. The worry for bulls will be if nifty doesn't cross 8045 soon, preferably on Monday or latest Wednesday. Otherwise, bearish div may appear. It is still a "sell on rise" situation unless nifty closes above 8050 first and then 8115. A close below 7840/7800 may end the bull rally for a few months. Global events can have a bearing on how nifty moves in short term.