iCharts Discussions

[amitagg]

[riteshucha]

yes and was hoping it would retest before this upmove... was planning on going small long around that level but it reversed before that....(ignored one big support at 7680 NF) ..

anyways still holding short with stop given... further if NS sustains above 7929, then might think of long on dip... till then, dont think this rally will sustain....

[vinay28]

Ritesh, be careful. This reversal can surprise.

[vinay28]

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

Nifty for Friday (11/09/15) and beyond

Supports are at about 7772, 7760, 7739, 7728, 7702 and 7618 while resistances are at about 7819, 7853, 7907, 7929 and 8090. Unfilled gaps on upper and lower sides are at about 7972/7526 resp. Four +WWs can give about 7922/8036 (if above 7678), 8104 (if above 7628) and 8125 (if above 7660) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7631/7600 (if below 7845) (-WWs with lower targets are not mentioned as of now). A IHnS can give 8010 if nifty sustains above 7845 while two HnS can give about 7310/6825 if nifty sustains below 7930/7665 resp.

Nifty rose sharply after a big fall to close below 7800 and higher levels seem likely. However, the volume was -ve and we may see some fall before next rally. The strong bullish div also suggests higher levels if buying resumes. On daily basis, nifty must close above 7792 and preferably above 7823 while on weekly basis, it must close above 7780 and preferably above 7983 to begin to give some hope. A close below 7655 will mean more fall. Since bearish sentiment persists, only some +ve major news/event can save nifty. Global and local eco-political events can have a bearing on how nifty moves in short term.

[amitagg]

[riteshucha]

thanks vinay...
i have stock futures long, so in a way hedged...STOP remains the same...not being rigid here but still holding it, lets see...

[riteshucha]

check pm and reply vinay

[vinay28]

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

Nifty for Monday (14/09/15) and beyond

Supports are at about 7772, 7754, 7742, 7713/05 and 7697 while resistances are at about 7808/17, 7853, 7890, 7913, 7926 and 7965. Unfilled gaps on upper and lower sides are at about 7972/7526 resp. Two +WWs can give about 7927 (if above 7579) and 8040 (if above 7678) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7742 (if below 7876) and 7581 (if below 7845) (-WWs with lower targets are not mentioned as of now). A IHnS can give 8010 if nifty sustains above 7845 while two HnS can give about 7310/6825 if nifty sustains below 7930/7665 resp.

Nifty fell after a gap up open and closed -ve below 7800. It still seems to be in a consolidation mood before making a big move. However, the volume was +ve and we may see some reversal soon. The strong bullish div also suggests much higher levels if buying resumes. Nifty must close above 7823 to begin with. A close below 7655 will mean more fall. Since bearish sentiment persists, only some +ve major news/event can save nifty. Global and local eco-political events can have a bearing on how nifty moves in short term.

[vinay28]

If pattern works out, we should see 8040 in 2-3 days.

[riteshucha]

7700 pe trading at 95 and 8000 ce trading at 69...
good time to sell them both??
your thoughts vinay...!!!

[vinay28]

[vinay28]

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

Nifty for Tuesday (15/09/15) and beyond

Supports are at about 7835, 7816, 7798, 7728 and 7717 while resistances are at about 7917, 7926, 7959, 8060 and 8090. Unfilled gap on upper side is at about 7972. Three +WWs can give about 7947, 8008 and 8081 (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 7733 (if below 7863) and 7711/7689 (if below 7895) (-WWs with lower targets are not mentioned as of now). Two IHnS can give 8010/8040 if nifty sustains above 7845/65 resp. while a HnS can give about 7310 if nifty sustains below 7930.

Nifty rose sharply and closed well above 7850. However, the volume was below average. The strong bullish div, which sustains, suggests much higher levels if buying resumes. Nifty must close above 7965/8002/8030 to give hopes to bulls. A close below 7717 may mean more fall. Since bearish sentiment persists, only some +ve major news/event can save nifty. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade careful since this is a truncated week and also because the important FOMC is on Thursday.

[vinay28]

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

Nifty for Wednesday (16/09/15) and beyond

Supports are at about 7790, 7763, 7752, 7728 and 7670 while resistances are at about 7839, 7876, 7885, 7898, 7926 and 7968. Unfilled gap on upper side is at about 7972. Four +WWs can give about 7888/7935 (if above 7829), 7953 and 8091 (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 7725 (if below 7875) and 7710/7687 (if below 7896) (-WWs with lower targets are not mentioned as of now). Two IHnS can give 8010/8040 if nifty sustains above 7845/65 resp. while a HnS can give about 7310 if nifty sustains below 7930.

Nifty fell again and closed below 7850 indicating nervousness ahead of a likely major event. The strong bullish div, which sustains, suggests much higher or levels if buying resumes. Nifty must close above 7965 to begin with. A close below 7717 may mean more fall. Since bearish sentiment persists, only some +ve major news/event can save nifty. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade careful since this is a truncated week and also because the important FOMC is on Thursday. High VIX can cause wild swings.

[riteshucha]

sell only below 7858 or near about 7900... targets : 7836 / 7814 / 7791

buy above 7919 for 7940 / 7962 / 7984

[amitagg]