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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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Post: #4936  Posted: Tue Sep 04, 2012 9:57 am Post subject: |
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| Market is trading around 5242 now. For the day, it has immediate support around 5236 which is around the low made as of now. Below today's low, we may test 5212-5210 range. Immediate resistance for the market is around 5257-5258 above that 5273 could be tested. Major resistance for the market is in the range 5280-5291. |
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kishjk7551
White Belt
Joined: 26 Jan 2008
Posts: 293
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| Post: #4937 Posted: Tue Sep 04, 2012 10:06 am Post subject: |
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| psalm wrote: | | Market is trading around 5242 now. For the day, it has immediate support around 5236 which is around the low made as of now. Below today's low, we may test 5212-5210 range. Immediate resistance for the market is around 5257-5258 above that 5273 could be tested. Major resistance for the market is in the range 5280-5291. |
Hi Sam great to have you back , missed ur views yesterday .
Jayant  |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4938 Posted: Tue Sep 04, 2012 10:23 am Post subject: |
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| kishjk7551 wrote: | | psalm wrote: | | Market is trading around 5242 now. For the day, it has immediate support around 5236 which is around the low made as of now. Below today's low, we may test 5212-5210 range. Immediate resistance for the market is around 5257-5258 above that 5273 could be tested. Major resistance for the market is in the range 5280-5291. |
Hi Sam great to have you back , missed ur views yesterday .
Jayant |
I was busy with some family matters, Jayant....that's why couldn't be online....  |
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #4939 Posted: Tue Sep 04, 2012 10:50 am Post subject: |
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| 5215-5260 Gap created on August 6th.Right now spot nifty making moves with in the gap with upside bias.watch out for Breakdown/Breakout. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4940 Posted: Tue Sep 04, 2012 11:07 am Post subject: |
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| rk_a2003 wrote: | | 5215-5260 Gap created on August 6th.Right now spot nifty making moves with in the gap with upside bias.watch out for Breakdown/Breakout. |
Yes, RK......one should be careful around these areas......As you have mentioned, the gap created on 6th August will be covered if we test 5215 or so. I see lot of supports for Nifty below 5215 up to 5177 levels. A bounce back cannot be ruled out. But as per the current situation, even a few day's bounce backs may not ruin the bearish structure, I feel. For me; as long as we CLOSE below 5332, the bias will be on the SELL side. Having said that a bounce back to 5370-5400 levels again can't be ruled out. So, let's wait and see what the market does from here... |
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SP50
Brown Belt
Joined: 26 Nov 2010
Posts: 1615
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| Post: #4941 Posted: Tue Sep 04, 2012 12:43 pm Post subject: |
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| Whats is more likely now to happen? Europe looks a little jittered by the ECB bond purchase plans, |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4942 Posted: Tue Sep 04, 2012 12:58 pm Post subject: |
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| taxmann50 wrote: | | Whats is more likely now to happen? Europe looks a little jittered by the ECB bond purchase plans, |
Personally, I'll put my money on the downside....there is no reason to change my view on the downside, at this point of time...but as we're nearing some supports and a gap created earlier, one should be a bit careful........a 100 or 120 point pullbacks cannot be ruled out, Taxmann.......so, one should be prepared for that scenario as well....having said that a 100 or 120 point pullback will not alter the technicals by much...that means pullbacks, if any, will be good opportunities to sell again.....Anyway, let's see.... |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4943 Posted: Wed Sep 05, 2012 9:49 am Post subject: |
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| Market is trading around 5254 now. For the day, immediate resistance for the market is around 5258 (the high made as of now is around 5256.5) above that we could test 5280-5291 range. A break above 5291 could push the market to 5320-5333 range. On the downside, immediate support is around 5232 below that 5211 could be tested. A break below 5210 could push the market to 5195 or even 5177 levels. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4944 Posted: Wed Sep 05, 2012 12:32 pm Post subject: BankNifty |
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| Banks are looking pretty weak.....9850 is the immediate support, below that 9800-9770 range will be tested.....major support for the bank index now will be around 9680-9650 range. Current rate is around 9865....Watch out.... |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4945 Posted: Wed Sep 05, 2012 12:35 pm Post subject: |
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| The gap created on 6th August has been filled now.... |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #4946 Posted: Wed Sep 05, 2012 1:06 pm Post subject: |
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| the gap on 3rd august was 5215 |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4947 Posted: Wed Sep 05, 2012 1:12 pm Post subject: |
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| vinay28 wrote: | | the gap on 3rd august was 5215 |
Yup....5215 was the closing on 3rd August...but the gap was created on 6th August right?....... |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4948 Posted: Wed Sep 05, 2012 1:32 pm Post subject: |
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| European markets are cracking.....all at their lows of the day..... |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #4949 Posted: Thu Sep 06, 2012 11:03 am Post subject: |
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Saudi Arabia May Run Out Of Oil To Export By 2030
A report by Citigroup has warned that Saudi Arabia could run out of oil to export by 2030, raising fears that oil prices may rise significantly in coming years. A report by Citigroup has warned that Saudi Arabia could run out of oil to export by 2030, raising fears that oil prices may rise significantly in coming years.
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buy saudi arabia puts
does any1 actually has ever made an official estimate when our natural resources will get exhausted they have to someday? |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4950 Posted: Thu Sep 06, 2012 11:10 am Post subject: |
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| apka wrote: | Saudi Arabia May Run Out Of Oil To Export By 2030
A report by Citigroup has warned that Saudi Arabia could run out of oil to export by 2030, raising fears that oil prices may rise significantly in coming years. A report by Citigroup has warned that Saudi Arabia could run out of oil to export by 2030, raising fears that oil prices may rise significantly in coming years.
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buy saudi arabia puts
does any1 actually has ever made an official estimate when our natural resources will get exhausted they have to someday? |
There are estimates available for the oil reserves, Apka...but no idea about other reserves such as minerals and all..... |
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