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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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Post: #4726  Posted: Thu Aug 23, 2012 2:41 pm Post subject: Re: Nifty Trading in Channel |
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| Dabangg wrote: | | Dabangg wrote: | | Price rejected the Resistance of the Channel forming a Double Top. Expected to come down till the Support of the channel. |
This is what i call move..... Move of SHAKIRA
this kind of move arouses something internally  am loving it |
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vinay28
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Joined: 24 Dec 2010
Posts: 11748
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| Post: #4727 Posted: Thu Aug 23, 2012 2:59 pm Post subject: |
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| internal arousal? |
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psalm
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Joined: 12 Nov 2011
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| Post: #4728 Posted: Thu Aug 23, 2012 3:13 pm Post subject: |
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| vinay28 wrote: | | internal arousal? |
today icharts is full of arousals and Vatsyayanas......
By the way, have you seen MTNL today, Vinay?...35.65 was a 10 month high for that stock......there were a lot of resistances converging around 35.5 or so....so, I thought there is no way MTNL is going to break above 35.5 or 35.6....but it did trigger my stoploss...and is up by a whopping 11% now.... ...I wish, i were long in that rather than SHORT..... |
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vinay28
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| Post: #4729 Posted: Thu Aug 23, 2012 3:39 pm Post subject: |
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| next target 48 |
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psalm
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| Post: #4730 Posted: Thu Aug 23, 2012 3:46 pm Post subject: |
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| vinay28 wrote: | | next target 48 |
I'm expecting some resistance around 40.5-41...anyway, I'll try to sell it again around that level with a tight stop.....cos, I still believe that this stock could test at least 27 by sep end.....I know its a bit too much from here...but still I expect that target....anyway, let's see...  |
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psalm
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| Post: #4731 Posted: Fri Aug 24, 2012 9:37 am Post subject: |
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| Nifty is trading around 5379 now. The low made as of now is around 5376. For the day, immediate support for the market is around 5374 below that 5349 and 5330 could be tested. On the upside, 5420-5425 could offer significant resistance for the day. If broken there is chance of testing 5450-5460 range again. The U.S. and European markets witnessed some profit taking yesterday. Now they're near their first important supports which if broken will cause further 2 or 3 percent correction. For our markets, there are a few index stocks which still have unfinished targets on the upside, I believe. So, there is good chance of bouncebacks in my opinion. That means there COULD be one more upside before any meaningful correction or selling. Having said that, if this is just a bear market rally, then it could end abruptly. So watch out. |
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Dabangg
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Joined: 15 Sep 2010
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| Post: #4732 Posted: Fri Aug 24, 2012 9:51 am Post subject: |
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| psalm wrote: | | Nifty is trading around 5379 now. The low made as of now is around 5376. For the day, immediate support for the market is around 5374 below that 5349 and 5330 could be tested. On the upside, 5420-5425 could offer significant resistance for the day. If broken there is chance of testing 5450-5460 range again. The U.S. and European markets witnessed some profit taking yesterday. Now they're near their first important supports which if broken will cause further 2 or 3 percent correction. For our markets, there are a few index stocks which still have unfinished targets on the upside, I believe. So, there is good chance of bouncebacks in my opinion. That means there COULD be one more upside before any meaningful correction or selling. Having said that, if this is just a bear market rally, then it could end abruptly. So watch out. |
psalm : sirji, it finally came down to the support zone of the channel.... unfortunately I wasn't holding my shorts so missed it...  |
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psalm
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| Post: #4733 Posted: Fri Aug 24, 2012 10:00 am Post subject: |
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| Dabangg wrote: | | psalm wrote: | | Nifty is trading around 5379 now. The low made as of now is around 5376. For the day, immediate support for the market is around 5374 below that 5349 and 5330 could be tested. On the upside, 5420-5425 could offer significant resistance for the day. If broken there is chance of testing 5450-5460 range again. The U.S. and European markets witnessed some profit taking yesterday. Now they're near their first important supports which if broken will cause further 2 or 3 percent correction. For our markets, there are a few index stocks which still have unfinished targets on the upside, I believe. So, there is good chance of bouncebacks in my opinion. That means there COULD be one more upside before any meaningful correction or selling. Having said that, if this is just a bear market rally, then it could end abruptly. So watch out. |
psalm : it finally came down to the support zone of the channel.... unfortunately I wasn't holding my shorts so missed it... |
hmn...forget it....by the way, if you're bearish and want to sell then you may get slightly higher levels again, I feel......anyway, let's wait and see.... |
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SP50
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Joined: 26 Nov 2010
Posts: 1615
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| Post: #4734 Posted: Fri Aug 24, 2012 10:08 am Post subject: |
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| Scrambling market, I feel that unless and quickly markets recovers upto 5420 spot there will be no more upside for this expiry. |
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psalm
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| Post: #4735 Posted: Fri Aug 24, 2012 10:11 am Post subject: |
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| taxmann50 wrote: | | Scrambling market, I feel that unless and quickly markets recovers upto 5420 spot there will be no more upside for this expiry. |
Taxmann...dont forget about liquidity.....its like inflation....difficult to contain..... |
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SP50
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Joined: 26 Nov 2010
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| Post: #4736 Posted: Fri Aug 24, 2012 10:32 am Post subject: |
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| psalm wrote: | | taxmann50 wrote: | | Scrambling market, I feel that unless and quickly markets recovers upto 5420 spot there will be no more upside for this expiry. |
Taxmann...dont forget about liquidity.....its like inflation....difficult to contain..... |
I think that will be post expiry,
Did you read the post the other day where Verruji posted nifty target at 14000 plus on his thread? On that I checked up with a few senior people at Mumbai and Calcutta on the possibility and they reiterated that by 2014-16 it is possible. If now that happens inflation will reach levels of some african nations
FED and ECB gonna kill us will all their stimulas  |
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saumya12
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Joined: 21 Dec 2011
Posts: 1509
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| Post: #4737 Posted: Fri Aug 24, 2012 10:45 am Post subject: |
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| psalm wrote: | | taxmann50 wrote: | | Scrambling market, I feel that unless and quickly markets recovers upto 5420 spot there will be no more upside for this expiry. |
Taxmann...dont forget about liquidity.....its like inflation....difficult to contain..... |
(' ')
Please elaborate further. |
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psalm
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| Post: #4738 Posted: Fri Aug 24, 2012 10:48 am Post subject: |
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| taxmann50 wrote: | | psalm wrote: | | taxmann50 wrote: | | Scrambling market, I feel that unless and quickly markets recovers upto 5420 spot there will be no more upside for this expiry. |
Taxmann...dont forget about liquidity.....its like inflation....difficult to contain..... |
I think that will be post expiry,
Did you read the post the other day where Verruji posted nifty target at 14000 plus on his thread? On that I checked up with a few senior people at Mumbai and Calcutta on the possibility and they reiterated that by 2014-16 it is possible. If now that happens inflation will reach levels of some african nations
FED and ECB gonna kill us will all their stimulas |
I have no doubt about the India Growth story, Taxmann.....so, I'm a LONG TERM BULL.....I very much believe that we will see 4300 levels before 6300 again...but when I said the market could go up slightly before going down, I didn't mean another rally....I was expecting another 100 points or so..nothing more.....I have bought NIFTY PUTs for September.....so, I want the market to go down....at the same time, I have a gut feeling that there could be one more upmove before another selling happening.....
By the way, money flow to india will continue, I feel...cos, when the rupee value goes down, stocks get cheaper "FOR THEM"...that means when rupee goes down by 10%, our stocks gets 10% cheaper for them.....so, for investment, this is not a bad scenario.....as per my belief, they're not going to withdraw their investments anytime soon......I'm not talking about their trading positions.....I'm talking about their long term investments in the indian markets.....they'll unwind those positions only when rupee value goes up or they have enough growth from their investments.....So, I expect more fund flow from the FIIs and hence good upmoves in the coming years....But at this moment, I'm bearish....
NOTE: I am coming from technical background...I have no formal education regarding the economy or Finance...so, my interpretations could be horribly wrong.....If someone knowledgeable finds my views absurd, please forgive me for my ignorance.
Regards,
SAM |
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psalm
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| Post: #4739 Posted: Fri Aug 24, 2012 10:51 am Post subject: |
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| saumya12 wrote: | | psalm wrote: | | taxmann50 wrote: | | Scrambling market, I feel that unless and quickly markets recovers upto 5420 spot there will be no more upside for this expiry. |
Taxmann...dont forget about liquidity.....its like inflation....difficult to contain..... |
('')
Please elaborate further. |
When liquidity is there, its like a "frenzy" ....no one cares about anything value or worth....just wild buying which could be difficult to control.....that's wat I meant... |
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #4740 Posted: Fri Aug 24, 2012 10:55 am Post subject: |
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| psalm wrote: | | taxmann50 wrote: | | Scrambling market, I feel that unless and quickly markets recovers upto 5420 spot there will be no more upside for this expiry. |
Taxmann...dont forget about liquidity.....its like inflation....difficult to contain..... |
In fact, it is Inflation that causes liquidity Sam!
Last edited by rk_a2003 on Fri Aug 24, 2012 10:56 am; edited 1 time in total |
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