iCharts Discussions

[shekharinvest]

I believe Feb. 08, 2011 will be the crucial date.

A meeting has been fixed between Govt. and Opposition to discuss the upcoming Budget session. Result of this meeting will decide the future course of the Markets.

If Govt. refuses to accept the Oppn. demand for JPC and opposition decides to continue with the blockade of the Parliamentary session. Stability / continuation of this Govt. will in question and we can see sharp fall.

Govt blinks and accepts the demand for JPC we can see an upmove from here onwards.


SHEKHAR

[Visualize]

[acharyams]

Now, 5417 breached on intraday basis.
RT Sir,
Do u still maintain bullish view on Nifty for this week?

[RoyalTrader]

Yes acharyams i am still bullish on nifty.. According to me one can initiate long positions in nifty above 5460 with a stop loss of 5435..

Ideally nifty should start uptrend tomorrow.. Above todays high 5490 we may see sharp rally in nifty.. closing should come above 5450 to carry nifty home...

The front runners will be banking and reliance.. For reliance one can buy at cmp with stoploss 907 for target 956 and 995 both targets will get hit by 18 feb... Nifty may hit 5870 by 18th feb...

Regards

RT

[acharyams]

Are the stop losses in RIL 907 and nifty 5435i n spot prices, Sir?

[RoyalTrader]

All spot prices...

Regards,

RT

[acharyams]

and on closing basis, na?

[RoyalTrader]

Hi watch out nifty uptrend started..

Dear acharyams you can keep now 5450 cash as stoploss intraday...

[acharyams]

thank you, sir, for your selfless guidance

[deepakms]

Hi RT,

Last time u had show the nifty graph double bottom and ur target on the upside was perfect,u also mentioned recently that ur out travelling,if its not a inconvinence to u,request u to plot the trend lines of nifty and the upside target ,resistance ,etc (on a graph)....it was really helplfull.

Thnx/rgds
Deeppak

[RoyalTrader]

Dear deepak,

I will post my candle by candle dissection on saturday.. In that i will give you reasons rather logic why i was bullish on nifty in past 4 trading sessions.. When market was sideways (accumulation mode) its still in zone of 5550 and 5400 but with todays rally we can expect it will break out on upside..

This break out should take place with an uptick in volume tomorrow.. Lets hope for the best..

both calls nifty and reliance gave good profits...
Banking also performed well as expected...

Regards,

RT

[rachan03]

Dear RT,

i was going through your posts & analysis , they are really quite good ...nifty has taken a support at crucial range of 5380-5400 ...as per fibbo levels ....but no reversal sign reflected in candlesticks pattern ....how r u so confident of nifty moving up till 5870 ..which is also a crucial fibbo level ...i am also getting bullsih feeling but not confident of taking long trade now ...pls help & guide ....thanks ...

regards,
Rachan

[sartaj]

Hi RT,
I hope you maybe correct because there are very few people who like trading markets when they are falling. I like them when they are falling. My judgement says that nifty should hit around 5200 since it has entered back into the channel from which it broke out in September 2010. Also the crucial level to watch out for tomorrow would be 5550-5580. If this level doesn't break then we can again see a downside fall. The only thing in favor of upside movement is the oversold indicators.

Regards,
SK

[ashis]

Dear sir.
Thanks for post.
If possible then guide us that how can you taking this kind of perfact decission? Is it possible that market will come down tomorrow? If yes then at which leval can we take fresh entry for long position and at which highr leval we have to careful?
Awaiting for your charts observation which you are regularly forwarding on icharts.
Once again thanks for this kind of proper guidance without any expectation.
Regards
Ashis

[vinay28]

Dear RT

I get the impression that nifty now may go up to 5800 first and then may go down to as much as sub 5300 or even 5100. What do you think?