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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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Post: #3601  Posted: Mon Jul 09, 2012 9:56 am Post subject: |
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[1] From the weekly chart below you can see we are near end of a tringle zone. This week will be again much range bound. And the range can be seen in the daily chart channel. 5230-5360. Until 5230 breaks closing basis, trend is still intact.
[2] After last weeks breakout, we have continuously made higher closing even on red candles. Last sessions we failed to break earlier high 5331. And today we have opened below previous sessions low. So, if trend is to continue up, most likely today's candle closing should be near be near opening 5283. As such range expected is 5255 and 5300 as high. If 5300 is broken and trades for more than 15 mins, likely we retest 5330 today. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #3602 Posted: Mon Jul 09, 2012 10:03 am Post subject: |
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| apka wrote: | [1] From the weekly chart below you can see we are near end of a tringle zone. This week will be again much range bound. And the range can be seen in the daily chart channel. 5230-5360. Until 5230 breaks closing basis, trend is still intact.
[2] After last weeks breakout, we have continuously made higher closing even on red candles. Last sessions we failed to break earlier high 5331. And today we have opened below previous sessions low. So, if trend is to continue up, most likely today's candle closing should be near be near opening 5283. As such range expected is 5255 and 5300 as high. If 5300 is broken and trades for more than 15 mins, likely we retest 5330 today. |
Good one Apka....a comprehensive analysis as always...  |
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chiragbvyas
White Belt
Joined: 18 Feb 2010
Posts: 469
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| Post: #3603 Posted: Mon Jul 09, 2012 10:13 am Post subject: |
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| psalm wrote: | | apka wrote: | [1] From the weekly chart below you can see we are near end of a tringle zone. This week will be again much range bound. And the range can be seen in the daily chart channel. 5230-5360. Until 5230 breaks closing basis, trend is still intact.
[2] After last weeks breakout, we have continuously made higher closing even on red candles. Last sessions we failed to break earlier high 5331. And today we have opened below previous sessions low. So, if trend is to continue up, most likely today's candle closing should be near be near opening 5283. As such range expected is 5255 and 5300 as high. If 5300 is broken and trades for more than 15 mins, likely we retest 5330 today. |
Good one Apka....a comprehensive analysis as always... |
5046.45 5075.70 5126.55 5166.05 5221.4 5241.85
anyone following or using bharat's levels?
in every medium / long term discussion couple of his levels are always there. i am not getting any clue how he derive these values and what set up he uses for that.
Bhatatif r u there pls post something on this regards. |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #3604 Posted: Mon Jul 09, 2012 10:15 am Post subject: |
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| psalm wrote: | | apka wrote: | [1] From the weekly chart below you can see we are near end of a tringle zone. This week will be again much range bound. And the range can be seen in the daily chart channel. 5230-5360. Until 5230 breaks closing basis, trend is still intact.
[2] After last weeks breakout, we have continuously made higher closing even on red candles. Last sessions we failed to break earlier high 5331. And today we have opened below previous sessions low. So, if trend is to continue up, most likely today's candle closing should be near be near opening 5283. As such range expected is 5255 and 5300 as high. If 5300 is broken and trades for more than 15 mins, likely we retest 5330 today. |
Good one Apka....a comprehensive analysis as always... |
nifty having hard time breaking past 5300. |
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sonila
Brown Belt
Joined: 04 Jun 2009
Posts: 1786
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| Post: #3605 Posted: Mon Jul 09, 2012 10:16 am Post subject: |
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| vinay28 wrote: | sonila, it's a gut feeling based on price movement over the last week. Note that nifty went up by only 30 points from 3rd to 6th even though FIIs pumped in 1B$ in 3 days. Also, nifty made a lower high on friday and that's why the feeling. I also feel that shorting in this market is risky. In addition, currencies are back to pre-euro summit levels
I also understand from a friend that 5329/10NF on 60tf are crucial i.e. above 5329 bullish and below 5310 bearish for the day |
ok, now its clear, thnx. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #3606 Posted: Mon Jul 09, 2012 10:31 am Post subject: |
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| apka wrote: | | psalm wrote: | | apka wrote: | [1] From the weekly chart below you can see we are near end of a tringle zone. This week will be again much range bound. And the range can be seen in the daily chart channel. 5230-5360. Until 5230 breaks closing basis, trend is still intact.
[2] After last weeks breakout, we have continuously made higher closing even on red candles. Last sessions we failed to break earlier high 5331. And today we have opened below previous sessions low. So, if trend is to continue up, most likely today's candle closing should be near be near opening 5283. As such range expected is 5255 and 5300 as high. If 5300 is broken and trades for more than 15 mins, likely we retest 5330 today. |
Good one Apka....a comprehensive analysis as always... |
nifty having hard time breaking past 5300. |
But I wont be surprised if it tests higher levels up to 5311 or even slightly higher, Apka......anyway, let's see... |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #3607 Posted: Mon Jul 09, 2012 12:17 pm Post subject: |
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| psalm wrote: | | psalm wrote: | | vinay28 wrote: | | I feel tmrw may be the day of 90/130 points drop from friday close or monday high for either NS or NF, which means we may see 5226/5186NS or 5237/5197NF. If that happens, it will also fill up the gap of 29th June. |
As of now, I have a feeling that we might go down tomorrow. A few numbers, I'll be looking at during tomorrow's trade are as follows:
5330 / 5311 / 5306 / 5290 / 5278 / 5264 / 5251 / 5239
NOTE: A break above 5330 or a break below 5239 will give another 25 to 50 points, I believe. Anyway, let's see.... |
The market has opened around 5283 and then tested a low of 5281 but found support around 5278. Current rate is around 5293.......Any bounce back up to 5305-5311 can be sold, I believe.... |
The recent low the market has made after 29th June's big move is around 5363.....current rate is around 5367...watch out... |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #3608 Posted: Mon Jul 09, 2012 12:20 pm Post subject: |
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| psalm wrote: | | psalm wrote: | | psalm wrote: | | vinay28 wrote: | | I feel tmrw may be the day of 90/130 points drop from friday close or monday high for either NS or NF, which means we may see 5226/5186NS or 5237/5197NF. If that happens, it will also fill up the gap of 29th June. |
As of now, I have a feeling that we might go down tomorrow. A few numbers, I'll be looking at during tomorrow's trade are as follows:
5330 / 5311 / 5306 / 5290 / 5278 / 5264 / 5251 / 5239
NOTE: A break above 5330 or a break below 5239 will give another 25 to 50 points, I believe. Anyway, let's see.... |
The market has opened around 5283 and then tested a low of 5281 but found support around 5278. Current rate is around 5293.......Any bounce back up to 5305-5311 can be sold, I believe.... |
The recent low the market has made after 29th June's big move is around 5363.....current rate is around 5367...watch out... |
Sorry typo..........the levels are 5263 and 5267.... |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #3609 Posted: Mon Jul 09, 2012 12:22 pm Post subject: |
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| psalm wrote: | | psalm wrote: | | psalm wrote: | | psalm wrote: | | vinay28 wrote: | | I feel tmrw may be the day of 90/130 points drop from friday close or monday high for either NS or NF, which means we may see 5226/5186NS or 5237/5197NF. If that happens, it will also fill up the gap of 29th June. |
As of now, I have a feeling that we might go down tomorrow. A few numbers, I'll be looking at during tomorrow's trade are as follows:
5330 / 5311 / 5306 / 5290 / 5278 / 5264 / 5251 / 5239
NOTE: A break above 5330 or a break below 5239 will give another 25 to 50 points, I believe. Anyway, let's see.... |
The market has opened around 5283 and then tested a low of 5281 but found support around 5278. Current rate is around 5293.......Any bounce back up to 5305-5311 can be sold, I believe.... |
The recent low the market has made after 29th June's big move is around 5363.....current rate is around 5367...watch out... |
Sorry typo..........the levels are 5263 and 5267.... |
gone below that level....showing further weakness..... |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #3610 Posted: Mon Jul 09, 2012 12:25 pm Post subject: |
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| 5300 didnt break and we nearly touched 5255, low being so far 5258 |
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rohit44
White Belt
Joined: 05 Jan 2010
Posts: 279
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| Post: #3611 Posted: Mon Jul 09, 2012 12:28 pm Post subject: |
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5233ns  |
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sonila
Brown Belt
Joined: 04 Jun 2009
Posts: 1786
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| Post: #3612 Posted: Mon Jul 09, 2012 12:29 pm Post subject: |
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| sonila wrote: | | vinay28 wrote: | sonila, it's a gut feeling based on price movement over the last week. Note that nifty went up by only 30 points from 3rd to 6th even though FIIs pumped in 1B$ in 3 days. Also, nifty made a lower high on friday and that's why the feeling. I also feel that shorting in this market is risky. In addition, currencies are back to pre-euro summit levels
I also understand from a friend that 5329/10NF on 60tf are crucial i.e. above 5329 bullish and below 5310 bearish for the day |
ok, now its clear, thnx. |
UR gut feeling is great.
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #3613 Posted: Mon Jul 09, 2012 12:31 pm Post subject: |
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| apka wrote: | | 5300 didnt break and we nearly touched 5255, low being so far 5258 |
yes Apka...now the major support on the downside is around 5230 itself...closer to the 13-day EMA....that level has been a pillar of strength for the last one month or so....now let's see if it will hold.....a bounce back from these levels cannot be ruled out.....especially led by some Banks and IT stocks....anyway, let's see... |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #3614 Posted: Mon Jul 09, 2012 12:33 pm Post subject: |
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| psalm wrote: | | apka wrote: | | 5300 didnt break and we nearly touched 5255, low being so far 5258 |
yes Apka...now the major support on the downside is around 5230 itself...closer to the 13-day EMA....that level has been a pillar of strength for the last one month or so....now let's see if it will hold.....a bounce back from these levels cannot be ruled out.....especially led by some Banks and IT stocks....anyway, let's see... |
ya 5230 also comes as the channel bottom now, so multiple factors will make sure it gives bounce from there atleast once. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #3615 Posted: Mon Jul 09, 2012 12:40 pm Post subject: |
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| apka wrote: | | psalm wrote: | | apka wrote: | | 5300 didnt break and we nearly touched 5255, low being so far 5258 |
yes Apka...now the major support on the downside is around 5230 itself...closer to the 13-day EMA....that level has been a pillar of strength for the last one month or so....now let's see if it will hold.....a bounce back from these levels cannot be ruled out.....especially led by some Banks and IT stocks....anyway, let's see... |
ya 5230 also comes as the channel bottom now, so multiple factors will make sure it gives bounce from there atleast once. |
Anyway, I'm not looking at exiting my SHORTs anytime soon....currently looking at a few banks, real estate stocks etc for selling at higher levels...... |
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