iCharts Discussions

[psalm]

[ajayhkaul]

At the moment psalm looks like we could see 5130- 5180 -5230 - 5280 . And beyond 5280 is another story ...but we await the market move in the stated order.

Government just changed some norms on IPOs.... so they know its time for IPOs to raise money from the public. Again, the PSU disinvestment plans may be revived. For all this to happen , the ducks have to come home and that can happen only if the liquidity sloshes around our market and things start to bubble....

[Padkondu]

[vinay28]

First of all, I have booked longs and gone short not because I believe a crash is coming but because I feel from 23rd jan to 3rd feb only 25 jan and 1st & 3rd feb may be up (up and down as defined in earlier post).

Add to that my belief in the power of 7 e.g. I feel that when market goes up by 11.2 to 12.25% from bottom, it reacts 1.75 to 3.5%. Bottom was 4531 so you can do your calculations.

If you remember, I had earlier given the following numbers for the majority who believe that this is just a bear market rally and it has to end soon

5159, 4856, 5257 and then make your choice e.g. 4400+, 4200+, 3900+, 3600+, etc. the worst case being 2894.

For the very small minority who believe that bottom is already over, I feel the numbers are

5435, 4676 and then at least 6800+

I will try to move with market.

[rk_a2003]

Nifty is moving around 5100 levels. We may observe resistance around5050-5075. 19th Exhaustion gap calls for an alert. In case of any gap down in the coming day’s Nifty may visit levels around 4840.One may look at it as a make or break level.

Friday Doji formation should make us more cautious.

By saying this one cannot rule out the upside possibilities. In case the brutal power of liquidity continues from outside…Nothing can stop Nifty from reaching 5200.For sensing this in advance we have to keep an eye on $-Rs exchange rate movement. But one way directional moves nonstop are rare phenomena even in Nifty or in exchange rate.

Watch out........ And act ...No need to embrace a preconceived notion.

[vinay28]

sgxnifty shows a high of 5208 and a 105 point 5 tf red candle. 5087 the last time I saw

[psalm]

I have no idea what is going to happen today. Looks like another volatile day. However, as long as 4940 is held on a closing basis, one can hold onto the LONGs, I guess. At the same time, I'll be reducing my LONGs, especially in the NIFTY FUT, in the range 5060-5160 levels. That means booking profit on every rise. I'll be really cautious on opening further LONGs. At the same time, I'm against opening new SHORTs as well, especially on an Intraday basis. Let's see how the market pans out today.

Regards

Sam

[psalm]

5070 is the level to watch now. Once above 5070, market might reach 5100-5110 very easily, I guess. However, there are a lot of resistance in the range 5050-5150 levels. One should be really careful in that range. Trading without stop-losses might hurt badly.

Regards,

Sam

[vinay28]

5010 looks possible today considering that FIIs are unhappy about RIL data

[psalm]

Most of the FIIs were expecting this kinda result, I guess. Do u think that they didn't have any info abt the result?????...By the way, I too expect the support for the market in the range 5015-5010(spot), but below that you can expect 4940-4950 levels, which i guess will hold, in a day or two i guess.

[psalm]

[vinay28]

nifty is at 25 discount to sgxnifty. this is the first time I am seeing it. something is brewing?

[Vinodz]

vinay, wht could it possibly be

[psalm]

There is not much difference between Nifty and SGX Nifty...SGXNIFTY is trading at 5044.5 now. The low made was 5036 and the high made was 5096.

[vinay28]

where r u getting that data? sgxnifty is 5075 right now