iCharts Discussions

[vinay28]

Updated NF levels EOD today. This is how levels change dramatically over a day with such a large range (compare with chart posted during the market time today). Now sustaining below 7887NF is bad and above 8026/60 good.

[vinay28]

Nifty for Friday (10/10/14)

Supports are at about 7939, 7900, 7853 and 7811 while resistances are at about 7967, 7996, 8010, 8026 and 8074. Six +WWs can give about 8013/8063 (if above 7891), 8038/8144 (if above 7872), 8107 (if above 7880) and 8133 (if above 7919) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7903 (once below 7956) and 7896 (once below 7942) (-WWs with much lower targets are not mentioned as of now). An IHnS can give about 8165/8345 if nifty remains above 7950.

Nifty rose sharply in spite of a gap up open and closed above 7950 thereby confirming the reversal predicted yesterday. However, though daily candle is a bullish marubuzo, unless nifty crosses 8031 on Friday, a bearish div may form similar to the one on 22/9 after which fall started. Though a weekly close above 7914 is adequate, a close above 7955/69 is preferred. A close above 8050 may take it to a new high. A close below 7840 may end the bull rally for a few months. Global and local eco and political events can have a bearing on how nifty moves in short term.

[apka]

strange week, innit? so much volatility, are we at the bottom of small correction or beginning of fall...

[vinay28]

[NU2013]

[apka]

premium in nifty has devolved to 20 and bank nifty to 40 points.

[vinay28]

[vinay28]

Nifty for Monday (13/10/14)

Supports are at about 7830, 7811, 7801 and 7740 while resistances are at about 7878, 7907, 7935, 7954, 7967, 7996, 8010 and 8074. A gap on lower side is at about 7842. Three +WWs can give about 7968 (if above 7859), 7988 and 8077 (if above 7834) (+WWs with higher targets are not mentioned as of now). A -WW can give about 7700 (-WWs with much lower targets are not mentioned as of now). An IHnS can give about 8040/8115 if nifty remains above 7946.

Nifty fell sharply in spite of a gap down open and closed above 7850 thereby confirming bearish reversal mentioned for Friday. Weekly candle is a doji showing uncertainty. A close above 7967 may take it up further while a close below 7840/7800 may end the bull rally for a few months. Global and local eco-political events can have a bearing on how nifty moves in short term.

[vinay28]

The latest low of nifty is still at/near long term TL and also nifty has been giving rising troughs/lows. So, bottom may have been formed or at the most one more lower low, say about 7808NS/7830NF due to one main reason i.e. about 8142 was the previous high prior to all time high of about 8180. After the fall from 8180, nifty recovered to make a high of about 8161 (>8142) showing higher buying power during recovery. See attached charts for illustration. Chart 1 for June'12-Aug'13 shows that after lower TL was broken, even though nifty made a higher high, it made a lower high upon recovery and fell much more. Chart 2 for Feb'14 to date shows higher high at 8161 and that nifty is at make or break point. Note mild hidden div. If, however, 7800 is taken out, likely lower levels are also marked.

[apka]

I see some new Index names in my trading software like:

Nifty TR 2x Lev @ 3800.30
Nifty TR 1x Lev @ 442.30
Nifty PR 2x Lev @ 3329.55
Nifty PR 1x Lev @ 471.05

Does anyone know what are these?

[turtlecsi]

[vinay28]

Nifty for Tuesday (14/10/14)

Supports are at about 7860, 7840, 7819, 7808, 7793, 7772 and 7750 while resistances are at about 7899, 7912, 7931, 7945, 7966, 7996 and 8040. A previous high is about 7973. Four +WWs can give about 7922, 7997 (if above 7829), 8053 (once above 7789) and 8090 (if above 7831) (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 7842 (once below 7922), 7792 (if below 7869) and 7781 (if below 7860) (-WWs with much lower targets are not mentioned as of now). An IHnS can give about 8040/8115 if nifty remains above 7950.

Nifty rose sharply after a gap down open and closed above 7850. Daily candle is bullish piercing and there is also a +ve div. A close above 7966 may take it up further while a close below 7800 may end the bull rally for a few months. Global and local eco-political events can have a bearing on how nifty moves in short term.

[apka]

thank you turtle

[pkholla]

SEVENTH trading holiday for October announced for tomorrow, 15th Oct 2014 on account of assy. elections in Maharashtra. What next? Elections for BMC, Greater Bombay Milk Producers Federation, Taxi Union, Vada Pav Marketers Fed?

I have written to NSE in their website based email facility that they should give us Saturday trading on 18th and/ or 25th. if you agree, please spend 1 min going to NSE website and send your request

I have also requested NSE to start a SECOND centre at B'lore/ Madras/ Delhi to avoid concentrating their servers at Bombay and to avoid trading holiday even if any one centre is closed for whatever reason (man made/ nature)
Prakash Holla
Edit @ 1103am: Sorry , SIXTH HOLIDAY

[PS Trader]