iCharts Discussions

[turtlecsi]

Latest Observations:

1. Both 60M & Daily trends are Neutral.

2. Short term Breadth is close to Over-Bought level.

3. Intermediate term Breadth is Neutral.

Nifty lacked strength to move up. Initially I was expecting a pull-back towards 6190-odd level. But looking at today's Price action, such a move looks improbable at present. Time -wise Nifty should form a good low this week. I can arrive at the following supports zones...

1. Conservative Estimate---- 5850-5820

2. Aggressive Estimate ----- 5720-5660

In case there is a Correction below 5750 or below in coming sessions.... I will surely Try & Catch the Falling Knife...


Invest Wisely,

Turtle

[manojkr78]

tnx for your updates

[turtlecsi]

Nifty is yet to give a Sell signal.

1. 60M trend is Neutral. Only after trading below 6030 for 2-3 hours, 60M trend will go negative.

2. Short-term Breadth is very close to Over-Bought level. But not yet...



Invest Wisely,

Turtle

[turtlecsi]

Latest Observations:

1. Both 60M & Daily trends are Neutral.

2. Intermediate term Breadth is Neutral.

3. Short-term Breadth is very Close to Over-Bought level.

Nifty is neither on a Buy Or a Sell Signal. Nifty is crawling upwards on Poor Breadth each day. Seems like Nifty to waiting for the Vote-On-Account (Budget) to find Direction. So far the Price actions looks like a Pull-Back. Only time will tell the Direction of Break-Out....

Here is an Opinion... This is just an Opinion, and needs to be treated like one....
The current price action is very similar to the price action during June-July 2009. If we are, then we may fall sharply starting with the Budget session and may continue for 5-6 sessions.


Invest Wisely,

Turtle

[turtlecsi]

Nifty moving down because Short-term Breadth is over-Bought. Trading below 6030 for 2-3 hours, 60M trend will go Negative. I wonder if Nifty would fall & Close below 6000 today ?


Support Areas: 5850-5825

And

Very Strong Support- 5725-5675

Invest Wisely...

Turtle

[manojkr78]

tnx for your updates

[amitagg]

[turtlecsi]

[amitagg]

[turtlecsi]

"If we keep Knocking a Door again & again, chances are the Door will Open"

Nifty has been flirting with 6000 quite often. Yesterday's pull back seems like a Short-Covering from an Over-extended Market. Nifty may breach 6000 on closing basis in the next couple of sessions. If & when it happens, it will open lower targets. Nifty has not yet formed the Bottom. Its headed Lower....

Latest Observations:

1. Both 60M & Daily trends are Negative.

2. Short term Breadth is Over-Bought.

3. Intermediate term Breadth has turned Bearish.

4. Support zones are:

Conservative Support- 5850-5825

Aggressive Support- 5725-5675


Happy Weekend...

Invest Wisely,

Turtle

[amitagg]

I mentioned 5990 level in mail below and Nifty TA chart....imp thing is "again and again"....so if again and again 6100 is hit and taken out (and some further hurdles) 5940 shall be bottom....point is as some great trader said....my buying cannot push the market above 6110 (futures 6125) nor do your selling at 6000 expecting break push the market down....let the market hit ups and downs and premiums erode this feb...we shall see what happens in march....only think is if ABC correction is complete from 6415 (see my Nifty TA chart) with alterate retrace to 61 and 38 percent level...and not Nifty has taken support at key 61 retrace of latest upmove from 5933 to 6107...then we never know that 5th wave down shall unfold below 5940-5990.....again just a view again cautioning bears..market can hit up and down once or twice more (I cannot predict that) ...but let the market tell which "door" it wants to open...

[turtlecsi]

Nifty did not followed through on the Down Side as I was expecting. Having seen huge accumulation of PUTs at 6000/6100/6150 strikes , it seems unlikely that Nifty will break 6000 before 26th February ( Expiry day of Current series ).

Looking at the current price structure it seems unlikely that Nifty will move up in an Impulse move before at-least a retest of 5930 in the coming days. Although a fall below 5850 would be great for a good Intermediate term rally (10% Or Higher ). As and When Nifty forms an Intermediate term bottom, we will come to know....

Latest Observations:

1. 60M trend is Positive.

2. Daily trend is Neutral.

3. Short term Breadth is Over-Bought.

4. Intermediate term Breadth is Neutral.

5. Trading below 6080 for 3-4 hours 60M trend will go Negative.



Invest Wisely,

Turtle

[turtlecsi]

Nifty is holding up so far. However, looking at the price pattern, there is high probability that we may see lower prices going into 1st Week of April. Nifty is not on a Sell signal right now. Trading below 6150 for 3-4 hours, 60M trend will go Negative.

Latest Observation:

1. 60M Trend is Positive.

2. Daily trend is Neutral.

3. Both short and Intermediate term Market Breadth are close to Over-Bought level.

4. Minor turning point- 5th / 6th March 2014

5. Major Turning point- 1st Week of April 2014.



Since Nifty is over-extended on the upside, it may take a beating in the coming week. Move below 6200 will be 1st sign of Weakness.


Invest Wisely...

Turtle

[vinay28]

[turtlecsi]