Big stocks finally made their moves breaking the 2 months consolidation..Now for the follow up action..
Nifty closed just at the major resistance line(Neckline of a huge H&S pattern).
Broke past the "4600" mark on a new settlement day, pulled back below that and rallied back up to 4650.
Trend remains "UP", though OB in the short term with some -ve div..Watch the resistances ahead as well as the channel support @ 4575.
Only Notable feature is the closing below the "Hour high ema". Daily, weekly are firm. If closes below 4600 on Monday, that will put pressure on Nifty.
4 comments:
Hi,
I have recently viewed the widget for nifty recommendation in top.
I didn't get what levels meant in aggressive and conservative trade.
Like when will this data gets updated - trading hour / eod basis.
In aggressive column entry level has given at 4630,dated at (29-7-09) but on this date nifty had not come at this level.
explain me how to take this..
Thanks,
Gopal
Hi..Gopal,
Thank you for pointing out the error in "Aggressive" entry date..It is 31.07.09. I have corrected the same. It was meant to be a Stop & Reverse buy @ 4583 for 31.07.09 but Nifty gapped up and hence 4630 is mentioned.
Aggressive play takes into a/c the short swings, liable for many whipsaws.
Conservative swing takes into a/c a more reasonable short swing which is longer and reduces many whipsaws and captures more profits, as you can see its effect since 15th July 2009.
I will update this at the end of every day.
If you are long, continue to hold the longs with the 4421 as stop & reverse for Monday as per Conservative and 4474 as S&R as per aggressive.
If you are not long already, then you need to wait for the S&R to trigger in the coming days to "Play the market" as per this table.
Best regards.
ilango
Respected Sir,
You are having a great knowledge in stock market, from you I have learned so many things.
Sir, I know I’m asking very silly question, but it is coming in my mind again & again, so just asking that in your Nifty recommendation box from where SAR values are coming, like from which type of charts (5 min, 15 min, hourly or EOD). Do aggressive trade having lesser time frame as compare to conservative trade.
Regards,
Deepak
Hi..Deepak,
"Nifty Recommendation" is based on EOD data only and is revised at the end of the day. No 5, 15,30 or 60 minute datas are considered. Just the daily Highs and lows only.
Aggressive trades are based on lesser swing moves compared to Conservative trades and that is why conservative trades are "making money" but are boring with not much action...
Best regards.
ilango
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