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rohit44
White Belt
Joined: 05 Jan 2010
Posts: 279
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Post: #3496  Posted: Wed Jul 04, 2012 2:46 pm Post subject: |
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one more higher low NS 5273.3...  NS wanna go down but no news to react |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #3497 Posted: Wed Jul 04, 2012 2:47 pm Post subject: |
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| rohit44 wrote: | | one more higher low NS 5273.3... NS wanna go down but no news to react |
its the opposite of what u said |
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anand1234
Yellow Belt
Joined: 17 Jul 2010
Posts: 830
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| Post: #3498 Posted: Wed Jul 04, 2012 3:02 pm Post subject: |
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| anand1234 wrote: | HI..................
LOOKING 5270 SPOT WILL NOT BREAK..........IF BREAKS ANOTHER 30 -40 PTS DWN POSS. ................BUT FROM HERE CAN BOUNCE UP TO 5320..THEN 5360...........LET C........
THX
ANAND |
hi.......................
look.......spot from 5273 to 5307........still belive if stay above 5320........can go up further.............
CAUTION: DONT FOLLOW ME......ITS MY OBSERVATION ONLY..........ANY DAY IT CAN B WRONG........HAPPY TRADING
thx
anand |
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rohit44
White Belt
Joined: 05 Jan 2010
Posts: 279
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| Post: #3499 Posted: Wed Jul 04, 2012 3:18 pm Post subject: |
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| apka wrote: | | rohit44 wrote: | | one more higher low NS 5273.3... NS wanna go down but no news to react |
its the opposite of what u said |
Technically u r right...but practically seems fishy as NS try to touch/break the low but somehow recovers.... meanwhile NS looking forward to give first close abv 5300..  |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #3500 Posted: Wed Jul 04, 2012 3:29 pm Post subject: |
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Booked out a few of the stocks, which I have been LONG in....so, only a few LONGs left now....including Nifty CALLs....let's see how it goes tomorrow......  |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #3501 Posted: Wed Jul 04, 2012 3:39 pm Post subject: |
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| Nifty has closed above 5300 after a long time (after 20th April). Is it a good sign for the market?....only time will tell.... |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #3502 Posted: Wed Jul 04, 2012 6:55 pm Post subject: |
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| Nifty has opened above previous close and made higher highs and lows all 3 days since monday....even after a massive rally on last friday. what's more, it closed today above the level from which it reacted on monday i.e. monday high. |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #3503 Posted: Wed Jul 04, 2012 7:42 pm Post subject: |
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| vinay28 wrote: | | Nifty has opened above previous close and made higher highs and lows all 3 days since monday....even after a massive rally on last friday. what's more, it closed today above the level from which it reacted on monday i.e. monday high. |
yes and despite giving 3 red candles, the closings are higher, it is showing reduced confidence in shorting... |
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chetan83
Brown Belt
Joined: 19 Feb 2010
Posts: 2036
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| Post: #3504 Posted: Wed Jul 04, 2012 8:04 pm Post subject: |
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| psalm wrote: | | Booked out a few of the stocks, which I have been LONG in....so, only a few LONGs left now....including Nifty CALLs....let's see how it goes tomorrow...... |
Hi Sam,
U were carrying your shorts in Index future...when you went long |
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saumya12
Brown Belt
Joined: 21 Dec 2011
Posts: 1509
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| Post: #3505 Posted: Wed Jul 04, 2012 8:17 pm Post subject: |
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Today ends with hanging man candlestick and tweezer top pattern.
What does it mean.
And what RSI and slow stochastic indicates.
Will someone explain.
Thanks
Last edited by saumya12 on Wed Jul 04, 2012 8:32 pm; edited 1 time in total |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #3506 Posted: Wed Jul 04, 2012 8:20 pm Post subject: |
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| chetan83 wrote: | | psalm wrote: | | Booked out a few of the stocks, which I have been LONG in....so, only a few LONGs left now....including Nifty CALLs....let's see how it goes tomorrow...... |
Hi Sam,
U were carrying your shorts in Index future...when you went long |
I still carry them, Chetan...On Friday instead of exiting my SHORTs, I have bought Nifty CALLs, just as a protection....though it was a bad move, I was still hoping that the market will close below at least 5190....  ...but by noon, it was obvious that market is not going to stop there...hahaha...after that I didn't get any opportunity to exit my SHORTs....so, still holding the SHORTs and then the CALLs as hedging.......Even with the hedging, I'm carrying a heavy loss in my Nifty trade.....
By the way, the LONGs I have mentioned in my post are positions in various Stocks....not any Nifty positions....I have many LONG positions in stocks....even now I have many.....I have exited most of my LONGs from the sectors such as Real Estate, Sugar and metals...though I still have LONGs especially in Banking, CG and Pharma....But will be exiting as early as possible..may be by tomorrow itself.....anyway, let's see... |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #3507 Posted: Wed Jul 04, 2012 8:36 pm Post subject: |
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| apka, I feel that it is a bulllish sign since each one's close is above previous one's open, in spite of being red. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #3508 Posted: Wed Jul 04, 2012 9:04 pm Post subject: |
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| saumya12 wrote: | Today ends with hanging man candlestick and tweezer top pattern.
What does it mean.
And what RSI and slow stochastic indicates.
Will someone explain.
Thanks |
Its not a Tweezer top, Saumya....For Tweezer top, the first one should be a bullish one and the second one should be a bearish one...here its not the case...though 5317 was acted as a resistance in both....
By the way, for the Hanging Man candle, next day's confirmation is required......Though this hanging man is not a perfect one, lets wait for tomorrow's trade to get some idea about the market's intent....I still believe that Market has enough steam for one more move on the UP.... |
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S.S.
White Belt
Joined: 09 Feb 2011
Posts: 241
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| Post: #3509 Posted: Wed Jul 04, 2012 9:23 pm Post subject: |
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hi every one ......
i thing nifty could face resistance arnd 5380-5400
here is a weekly nifty chart .....
share ur veiws.... |
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chetan83
Brown Belt
Joined: 19 Feb 2010
Posts: 2036
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| Post: #3510 Posted: Wed Jul 04, 2012 9:37 pm Post subject: |
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| S.S. wrote: | hi every one ......
i thing nifty could face resistance arnd 5380-5400
here is a weekly nifty chart .....
share ur veiws.... |
And Bank Nifty Resistance at 10650-10675
Moreover the 50% Fibo is at 10535 (where currently BNF is trading), so it will be exciting to see whether BNF closes abv this levels during this week, then BNF may head to 11230 again (Which is 38.2% of Fibo and also R2 for July Monthly).
Last edited by chetan83 on Wed Jul 04, 2012 10:15 pm; edited 1 time in total |
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