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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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Post: #4486  Posted: Wed Aug 08, 2012 2:01 pm Post subject: |
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| psalm wrote: | | Today, the market might find resistance in the range 5365-5375 range, I feel. If broken, there is chance of it testing levels around 5400. On the downside, the market might find support around 5325-5330 levels. Current rate is around 5359. Watch out. |
The high made as of now is around 5368.....Europe is also not able to break above yesterday's highs.....current rate is around 5363...let's see if we'll be able to break above 5370 or so convincingly....  |
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psalm
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Joined: 12 Nov 2011
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| Post: #4487 Posted: Wed Aug 08, 2012 2:26 pm Post subject: |
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| sachin79 wrote: | | gap left on 3rd apr'12 at 5378.75 still unfilled..dis time it wil get filled |
Filled that gap and almost broke the high of that day....  |
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psalm
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Posts: 5368
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| Post: #4488 Posted: Wed Aug 08, 2012 3:23 pm Post subject: |
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| European markets are trading almost at the lows at this point of time.... |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4489 Posted: Wed Aug 08, 2012 3:25 pm Post subject: |
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| psalm wrote: | | ITALIAN and SPANISH bond yields are going up after a few days of sliding.....it started after the announcement of the Italian GDP....the positive implication it could have is the QE from ECB as early as possible....however, if the QE doesn't come, then its a negative for the markets....not only for those countries...but for other the Europe as a whole and thus affecting the global markets... |
I had mentioned about the bond yield going up, yesterday.......the rise in yields continues today as well......for both Italy and Spain.... |
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psalm
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Joined: 12 Nov 2011
Posts: 5368
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| Post: #4490 Posted: Wed Aug 08, 2012 3:45 pm Post subject: |
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| psalm wrote: | As I have mentioned earlier, I look at Dollar equivalent of our indices to have some clues regarding the current situation or the trend. One must realize that though Sensex and Nifty have broken out above their recent highs, their Dollar equivalents (DOLLEX-30 and DEFTY) haven't broken about their highs yet. Have an eye on them as well....might help in some way or other, I feel....  |
The recent high of Defty is 3391 (4th July)....today's high is 3390
The recent high of DOLLEX is 2637(5th July)....today's high is 2635
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chetan83
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Joined: 19 Feb 2010
Posts: 2036
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| Post: #4491 Posted: Wed Aug 08, 2012 3:48 pm Post subject: |
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Dear Sam,
PFC at 186.....how will u trade that....
Chetan. |
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SP50
Brown Belt
Joined: 26 Nov 2010
Posts: 1615
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| Post: #4492 Posted: Wed Aug 08, 2012 4:54 pm Post subject: |
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| Is it a gravestone doji today? Samji your views please. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4493 Posted: Wed Aug 08, 2012 9:27 pm Post subject: |
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| taxmann50 wrote: | | Is it a gravestone doji today? Samji your views please. |
One can term today's candle as a Gravestone Doji or Shooting Star, Taxmann.....actually, gravestone doji's are "Shooting Stars" with a thin body. If you feel that the body of today's candle is thin enough, then you can term it as Gravestone Doji.....personally, I prefer the Gravestone Doji's to have no lower shadow....anyway, its not mandatory....But the important thing is the confirmation on the next day.....A red candle or a lower closing will indicate its effectiveness, I feel.....a gap down opening with a lower closing would be perfect..... |
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vinay28
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Joined: 24 Dec 2010
Posts: 11748
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| Post: #4494 Posted: Wed Aug 08, 2012 10:34 pm Post subject: |
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| sam, I feel NS is a inverted hammer while NF is a doji star |
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chetan83
Brown Belt
Joined: 19 Feb 2010
Posts: 2036
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| Post: #4495 Posted: Wed Aug 08, 2012 11:01 pm Post subject: |
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Sorry for the interruption........
Please comment, can we take this as a cup and handle formation in Nifty.....if yes, then watch PFC too.....it may head towards 215-220....
regards,
Chetan. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4496 Posted: Wed Aug 08, 2012 11:04 pm Post subject: |
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| vinay28 wrote: | | sam, I feel NS is a inverted hammer while NF is a doji star |
Doji Star???? .....I can agree with that (though its more like a gravestone Doji).....but Inverted Hammer in Nifty spot????....not at all.... |
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psalm
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Joined: 12 Nov 2011
Posts: 5368
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| Post: #4497 Posted: Wed Aug 08, 2012 11:10 pm Post subject: |
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| chetan83 wrote: | Sorry for the interruption........
Please comment, can we take this as a cup and handle formation in Nifty.....if yes, then watch PFC too.....it may head towards 215-220....
regards,
Chetan. |
Yes, Chetan....it looks very much like a Cup and Handle....but watchout for a convincing breakout of that pattern.....I really doubt if today's move can be considered as a breakout....By the way, consider another scenario....suppose the market goes down from here....wont it be like a double or tripple top???..... ...so anything is possible....let's wait and watch.... |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4498 Posted: Thu Aug 09, 2012 9:00 am Post subject: |
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| chetan83 wrote: | Dear Sam,
PFC at 186.....how will u trade that....
Chetan. |
I'll post my opinion about the stock in my other thread, "Individual Stocks".....
Thanks |
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chetan83
Brown Belt
Joined: 19 Feb 2010
Posts: 2036
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| Post: #4499 Posted: Thu Aug 09, 2012 9:26 am Post subject: |
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| psalm wrote: | | chetan83 wrote: | Sorry for the interruption........
Please comment, can we take this as a cup and handle formation in Nifty.....if yes, then watch PFC too.....it may head towards 215-220....
regards,
Chetan. |
Yes, Chetan....it looks very much like a Cup and Handle....but watchout for a convincing breakout of that pattern.....I really doubt if today's move can be considered as a breakout....By the way, consider another scenario....suppose the market goes down from here....wont it be like a double or tripple top???..... ...so anything is possible....let's wait and watch.... |
Still a day or two to see the effect.... |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4500 Posted: Thu Aug 09, 2012 9:34 am Post subject: |
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| chetan83 wrote: | | psalm wrote: | | chetan83 wrote: | Sorry for the interruption........
Please comment, can we take this as a cup and handle formation in Nifty.....if yes, then watch PFC too.....it may head towards 215-220....
regards,
Chetan. |
Yes, Chetan....it looks very much like a Cup and Handle....but watchout for a convincing breakout of that pattern.....I really doubt if today's move can be considered as a breakout....By the way, consider another scenario....suppose the market goes down from here....wont it be like a double or tripple top???..... ...so anything is possible....let's wait and watch.... |
Still a day or two to see the effect.... |
Yea...let's wait and see, in which direction Nifty wants to move from here.... |
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