iCharts Discussions

[vinay28]

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

Nifty for Wednesday (02/09/15) and beyond

Supports are at about 7745, 7710, 7635 and 7550 while resistances are at about 7825, 7897, 7925 and 8005. Unfilled gap on lower side is at about 7625. (+WWs with higher targets are not mentioned as of now). (-WWs with lower targets are not mentioned as of now). A HnS can give about 7310 if nifty sustains below 7930.

Nifty collapsed again and closed below 7800 at a new low since Oct'14 and is very bearish. However, the volume for such a wide range and big fall is below average and there is a +ve div. Also, strong bullish div persists and we may see reversal if buying resumes. Nifty must close above 7966 to begin with while a close below 7748 will mean much lower levels. 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]

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

Nifty for Thursday (03/09/15) and beyond

Supports are at about 7654, 7594 and 7550 while resistances are at about 7750, 7763, 7823and 7925. Unfilled gap on lower side is at about 7625. (+WWs with higher targets are not mentioned as of now). (-WWs with lower targets are not mentioned as of now). A HnS can give about 7310 if nifty sustains below 7930.

Nifty fell again and closed little above 7700 at a new low since August'14 and continues to be very bearish. However, it is oversold and there is +ve div. Also, strong bullish div persists and we may see reversal soon if buying resumes. Nifty must close above 7966 to begin with to give some hope. 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]

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

Nifty for Friday (04/09/15) and beyond

Supports are at about 7805, 7795, 7766, 7745 and 7710 while resistances are at about 7869, 7902, 7923, 7965, 8067 and 8090. Unfilled gaps on upper and lower sides are at about 7972/7625 resp. (+WWs with higher targets are not mentioned as of now). (-WWs with lower targets are not mentioned as of now). A HnS can give about 7310 if nifty sustains below 7930.

Nifty rose sharply to close well above 7800 but is not out of the woods. The strong bullish div that exists will show its results only if buying resumes. Nifty must close above 7966 to begin with to give some hope. A close below 7717 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]

apka, I found out that current nifty PE is 15 for FY17 but don't know for FY16.

[apka]

thanks Vinay... FY16 PE must have been in 20s mostly when nifty hit 9100

[vinay28]

[apka]

Banknifty's weekly closing price is outside the lower Bollinger Band.

The last time this happened was in 2008's fall and that time banknifty stayed low outside the BB by 10% from the lower BB's band number.

Presently, lower BB number is near about 16800 which will lower after today's close. And a guestimate of 10% again would suggest a fall near about 14800-15300 is where Bank nifty will slow or pause.

[vinay28]

[apka]

Friday has come

[vinay28]

[chandrujimrc]

Shorters be alert mkt in oversold condition at trend line support with RSI divrg.

[satishkadam]

[vinay28]

I will be in Chennai from sunday to wednesday and won't be able to post.

[vinay28]

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

Nifty for Monday (07/09/15) and beyond

Supports are at about 7584, 7549, 7515, 7493 and 7469 while resistances are at about 7699, 7737, 7752, 7761, 7768, 7798 and 7886. Unfilled gaps on upper and lower sides are at about 7823/7625(& 7568) resp. Five +WWs can give about 7701/75 (if above 7628), 7863/8105 (if above 7663) and 7947 (if above 7719) (+WWs with higher targets are not mentioned as of now). (-WWs with lower targets are not mentioned as of now). Two HnS can give about 7310/6825 if nifty sustains below 7930/7665 resp.

Nifty collapsed again to close above 7650 and looks doomed. However, the +ve div has become stronger and we may see some pullback. Also, the strong bullish div can give much more rise but only if buying resumes. Nifty must close above 7823 to begin to give some hope. A close below 7568 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.

[ankur11_11]

bought my sold position today (sold sept future before august expiry) , though my system did not generate and hint of bull till now ..... just being cautious..... market might consolidate here with increased volatility , every trade (either buy or sell) might hit SL.
Lets seeeeeeeee ...

Will wait for your views Vinay