iCharts Discussions

[bullseye]

Don't go long on NF below 6045.

[bullseye]

Now shorters can think of reversing and going long on Nifty above 5925

[bullseye]

In NF Longs can now be initiated at 5867 levels. Happy trading

[cyber2nk]

Dear RT,

Sorry to know about your ill health. Wishing for your speedy recovery.

Cyber2nk

[bullseye]

Will we head for 5660 with a tea break at 5720 tomorrow

[RoyalTrader]

Thanks for your wishes cyber2nk..

Dear c4chats,

Dont try to pick the bottom.. Taking long positions in this kind of market is like trying to catch falling knife..

Even on intraday charts there is no sign of strength.. countertrend entries in such a strong trend are not at all advisable..

I will post levels soon above which a trend reversal or rather a bounce back can be expected..

C4chats, i am not discouraging you, just advising you as a good friend.. Give a thought to it..

Regards,

RT

[bullseye]

Dear RT your levels are much awaited and your advice will definitely get the right kind of respect. Presently on short, my levels are pivot break reversal levels. Thanx for guiding thoughts. Shows u care. We too care for you.

[RoyalTrader]

hi friends,

Tomorrow if nifty spot holds 5690-5700 and starts trading above 5805 one can initiate partial long position with opening as a stop loss. Above 5830 add to long positions.. Book partial profit at 5860-5865 and keep stop loss of 5825 for remaining position..

One can carry nifty overnight only if spot CLOSES 5866...

Tomorrow i am expecting some bounce back as all short term indicators are suggesting that market is oversold.. Hence tomorrow bargain hunters and profit takers (short covering rally) will push market higher..

Be cautious and take care

Regards,

RT

[RoyalTrader]

market is very volatile.. Trade with caution.. Small stop loss small profits.. Play with 2:1 reward risk ratio...

market is trading in positive territory after 5 days.. It is facing resistance 5825 - 5830 levels.. Above which break out may happen which can take nifty to 5860 level.. Closing above 5865 will confirm the strength

Regards,

RT

[RoyalTrader]

since 5700 is holding out.. Risky traders can buy nifty as well as banknifty at closing.. Risky call take care

RT

[RoyalTrader]

Hi friends,

yesterday market broke important support zone of 5690-5700, but the volume element was missing.. Today was a narrow spread bar with flat closing.. So i am suspicious about the break of 5700. It may be a trap..

If tomorrow market starts trading above 5715 exit short, aggessive traders can enter long with stop loss 5690.

closing above 5760 is required to confirm the strength and carry the trade overnight..

I am unable to post candle by candle analysis because of health problems.. Will post it soon...

Regards

RT

[nksachdev]

Market is slowly trying to recover as bank nifty has repeated the earlier range and has to go up before it can go further down.
We have now reached a stage where there is tussle going on between buyers and sellers and we shall see that buyers will start winning and push market beyond obvious resistance levels.

[RoyalTrader]

Right nksachdev,

yesterday i mentioned market is likely to bounced back and today after a long time market traded in green territory through out the day.. And closing was also near days high.. Confirming the strength.. Tomorrow if market takes out 5760 then we can expect 5805, 5830, 5845, 5866+...

Selling is somewhat exhausted now and bulls are all ready to take control.. If global markets and domestic news flow is ok then nothing can stop nifty from going upward... Remember guys medium term trend is still down.. We are just playing pull backs...

Rrgards,

RT

[RoyalTrader]

market is unable to take out 5760 selling continues...

[deepakms]

RT,

If its ok to ask....pls add the chart of Nifty like u used earlier,with all those trend lines.It give more confidence to take the position in the mkts


Rgds
Deeppak