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Nifty View - September Series |
amitagg
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Post: #31  Posted: Mon Sep 01, 2014 3:29 pm Post subject: |
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| vinay28 wrote: | | vinay28 wrote: | | NF just crossed day's R4 level. |
NS reached its weekly R2 level. |
Vinay R2 level in my experience cannot be traded mostly...... wonder if anyone has different views.
also daily weekly monthly confluences make it difficult to track the moves. |
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vinay28
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| Post: #32 Posted: Mon Sep 01, 2014 6:45 pm Post subject: |
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| amitagg wrote: | | vinay28 wrote: | | vinay28 wrote: | | NF just crossed day's R4 level. |
NS reached its weekly R2 level. |
Vinay R2 level in my experience cannot be traded mostly...... wonder if anyone has different views.
also daily weekly monthly confluences make it difficult to track the moves. |
yes, but if the levels fairly converge, one needs to be cautious. so BO may be above about 8067 I guess or if it sustains for >1 hr above 8050. we should know tmrw. |
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vinay28
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| Post: #33 Posted: Mon Sep 01, 2014 7:13 pm Post subject: |
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| Two broadening tops, first of which has broken out and a rising wedge & channel. Based on purely on this, important levels for tmrw are 8056/90 and 8014NS. |
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vinay28
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| Post: #34 Posted: Mon Sep 01, 2014 7:49 pm Post subject: |
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Nifty for Tuesday (02/09/14)
Supports are at about 8024, 8014, 7989, 7963 and 7927 while resistances are at about 8048/56, 8067, 8090, 8102 and 8129. A +WW can give about 8141 (+WWs with higher targets are not mentioned as of now). Four -WWs can give about 7934 (once below 8009), 7916 (once below 8052), 7900 (once below 7987) and 7871 (once below 8025) (-WWs with much lower targets are not mentioned as of now). A bullish flag can give higher level unless killed below 7960. An IHnS can give about 8170-8275 in case nifty sustains above about 7900. BO of a broadening top pattern can give about 8067.
Nifty closed at an all time high and also above 8000 and clearly bullish. However, the -ve div on daily and weekly over longer period still persists and though RSI crossed above 67.21, its next hurdle is 70.60. However, Monday's rise was with lower volume. A breach of 7987 can bring bears back. Even though liquidity continues to be strong, and one needs to be careful in trading. |
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amitagg
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| Post: #35 Posted: Mon Sep 01, 2014 11:15 pm Post subject: |
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| vinay28 wrote: | | amitagg wrote: | | vinay28 wrote: | | vinay28 wrote: | | NF just crossed day's R4 level. |
NS reached its weekly R2 level. |
Vinay R2 level in my experience cannot be traded mostly...... wonder if anyone has different views.
also daily weekly monthly confluences make it difficult to track the moves. |
yes, but if the levels fairly converge, one needs to be cautious. so BO may be above about 8067 I guess or if it sustains for >1 hr above 8050. we should know tmrw. |
When did u start following these very short term triggers for your strategic bets  ...... If above weekly R1 and above daily R4 it means only up...... To target minimum daily R5 and weekly R3... So again R2 loses significance
In fact the monthly weekly daily pivots currently are NOT converging and so contrary to some people beliefs, you would not see a sustained uptrend but the market shall pull back to form a lower monthly pivot ( I am not saying closing) above 7860 .....and around current levels or lower and not substantially up..... Just mark these words and we shall see month end... |
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vinay28
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| Post: #36 Posted: Tue Sep 02, 2014 8:36 am Post subject: |
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no amit, I don't but I do sit up and take notice when, according to me, price is on the verge of BO or failure. I posted last week 7800/7750 on lower side and 8300 on higher BUT but I am mentally prepared for 7300 in next 8-10 days also.  |
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vinay28
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| Post: #37 Posted: Tue Sep 02, 2014 12:06 pm Post subject: |
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| 8090-8102 is a strong resistance zone and that too a long term resistance zone. Therefore, mere crossing above is not enough. We need to see at least 2 consecutive closes above that for next rally. I will hence suggest daily close above 8102 as SL for shorts, if anyone is short. |
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swamy@20
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Joined: 26 Mar 2012
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| Post: #38 Posted: Tue Sep 02, 2014 12:15 pm Post subject: |
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| vinay is it spot or fut |
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amitagg
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| Post: #39 Posted: Tue Sep 02, 2014 1:21 pm Post subject: |
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| vinay28 wrote: | | 8090-8102 is a strong resistance zone and that too a long term resistance zone. Therefore, mere crossing above is not enough. We need to see at least 2 consecutive closes above that for next rally. I will hence suggest daily close above 8102 as SL for shorts, if anyone is short. |
seems like 8098-8100 shall be touched today......a small hike can trigger the SL..... a massive resistance at 8070-8100....would yield some 40-50 point profits for patience shorts without close stop....the true monthly resistance is only at 8171 |
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vinay28
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| Post: #40 Posted: Tue Sep 02, 2014 1:42 pm Post subject: |
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| swamy@20 wrote: | | vinay is it spot or fut |
about 8102 is spot and SL is on daily close basis. |
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vinay28
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| Post: #41 Posted: Tue Sep 02, 2014 1:46 pm Post subject: |
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| I feel it may be at/near the end. |
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amitagg
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| Post: #42 Posted: Tue Sep 02, 2014 1:49 pm Post subject: |
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| amitagg wrote: | | vinay28 wrote: | | 8090-8102 is a strong resistance zone and that too a long term resistance zone. Therefore, mere crossing above is not enough. We need to see at least 2 consecutive closes above that for next rally. I will hence suggest daily close above 8102 as SL for shorts, if anyone is short. |
seems like 8098-8100 shall be touched today......a small hike can trigger the SL..... a massive resistance at 8070-8100....would yield some 40-50 point profits for patience shorts without close stop....the true monthly resistance is only at 8171 |
for a change, taken 8000 Sep put @ 60 [small one] - doubting though
has the gap up i was expecting at 7950 and which did happen (only 50-60 points) done.....or we shall see another major one......to finally kill the shorters.....and take out the perceived 8100 level.......!!!!! [money is made or broken at these levels.....so jump in] |
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swamy@20
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Joined: 26 Mar 2012
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| Post: #43 Posted: Tue Sep 02, 2014 1:57 pm Post subject: |
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| thank u vinay |
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amitagg
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| Post: #44 Posted: Tue Sep 02, 2014 2:04 pm Post subject: |
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| vinay28 wrote: | | swamy@20 wrote: | | vinay is it spot or fut |
about 8102 is spot and SL is on daily close basis. |
how so accurate....touched 8101.95  |
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harsh_85
White Belt
Joined: 06 Nov 2011
Posts: 16
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| Post: #45 Posted: Tue Sep 02, 2014 2:11 pm Post subject: |
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| guys r u looking at the nifty components? i mean to say although nifty touched 8100...the defensives; pharma and fmcg have come to fore....could it be smart money switching to defensives and hence as u guys said...8100 be the top? |
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