iCharts Discussions

[riteshucha]

vinay, does volume indicate anyhting....what do u make of the dismal volumes in nifty?

[vinay28]

[vinay28]

Nifty for Wednesday (10/09/14)

Supports are closely spaced at about 8137, 8126, 8115, 8098, 8069 and 7997 while resistances are at about 8157, 8204, 8229 and 8249. Two unfilled gaps on lower side are at about 8086 and 8027. Three +WWs can give about 8184, 8212 and 8242 (+WWs with higher targets are not mentioned as of now). Six -WWs can give about 8062 (once below 8116), 8056 (once below 8126), 7992 (once below 8137), 7981, 7881 and 7836 (once below 8107) (-WWs with much lower targets are not mentioned as of now). An IHnS can give about 8275 if nifty continues to go up while a CnH can give 8186 if nifty breaks out above 8156. A HnS can give 8090 if nifty breaks below 8132 while two rising wedges can give much lower levels in case of a BD below 8128 .

Nifty fell a bit but managed to close above 8150 and continues to be bullish. However, daily candle is like a hanging man cum imperfect bearish Harami and the -ve div on daily and weekly over longer period still persists. A break above 8181 will result in further rise while a break below 8126 will cause more fall. Also, rsi is still below 80 and a reaction seems likely any day. Tuesday was a NR7 day and we may see a big move on Wednesday. If nifty closes below 8049, it may cause further fall. However, liquidity continues to be strong and one needs to be careful in trading.

[vinay28]

intraday target is 8094/67NF while SL is 8161/8181.

[vinay28]

we may see a sharp move after 1 pm. some are betting on the upside.

[ragwendra]

who's really in trap........bull's or bear's

[vinay28]

[vinay28]

vix should sustain above 13.

[vinay28]

Gap at 8086 filled up.

[pkholla]

[vinay28]

today's NF high was below yesterday's low. That was first hint of a fall.

[vinay28]

Nifty for Thursday (11/09/14)

Supports are at about 8081, 8066, 8030 and 7997 while resistances are at about 8100, 8128, 8157/65, 8188, 8229 and 8249. Two unfilled gaps on lower side are at about 8027 and 7954. A +WW can give about 8177 (once above 8118) (+WWs with higher targets are not mentioned as of now). Six -WWs can give about 8052 (once below 8122), 8036 (once below 8126), 8001, 7907 (once below 8161), 7886 and 7821 (once below 8123) (-WWs with much lower targets are not mentioned as of now). An IHnS can give about 8275 if nifty remains above 7935. Two rising wedges can give much lower levels if nifty continues to go down.

Nifty fell in spite of a gap down open and closed below 8100 and suggests a further fall. 8081 and 8049 are crucial levels. If nifty closes below 8022, it may cause further fall. If nifty breaks first above 8128 and then 8161, it may go up further However, liquidity continues to be strong and one needs to be careful in trading.

[riteshucha]

30 min candle low 8130 (Pivot - 8132.15) broken again ... failed once before lets see what happens...
prefer shorts below 8117, SL day's high..or buy above 8145 SL day's low....

i feel whichever side breaches first, shld give good number of points today...

[vinay28]

[riteshucha]

hope it stays here... mkt being very very dicy for bears...
more selling below 8069...