Today's bounce off the lows (5057) to the highs (5138) may be treated as a technical bounce from "Over Sold" conditions. Prices having come far away from the "averages" get pulled back towards them and on touching the same(if possible only), they will continue their downmove or may pause for a day before deciding the next course of action. 5170-5185 has acted as a top on many occasions earlier and the same may act as a maximum resistance if not 5200.
18 comments:
Sir
Fii net sell 1590 cr in cash
Dii buy 691
still market up..shrt recovery in futures..
same scenario in nov07-jan08
(Fii selling n cash still markets going up
and then a big crash) can chck FII data of tht period
@mynac throw light
Nifty will move between 5064 to 5185(vix)
4800 put oi increase 29%,4900 put 88% .players thinking
Markets not going below 4800-4900
5100 call oi increase 92% .5000 call increase 93%.
will we fall below it again?
Dear Ilango Sir & Blogmates,
The MP Values for 06/05/2010 are given below;
==============
MP Values:
VAH - 5116
POC - 5092
VAL - 5076
==============
Thanks & Regards
Sanjay Kr Jaiswal
REPOST
DEAR ALL
I NEED A HELP
rediff money provide services to set alert for any stock , if hits certain levels ( above or below ) to be sent to a particular mail address
SAME SERVICES i am luking forward if provided by any web site to be alerted as a SMS on ur mobile
PLEASE HELP
thanks
I think its almost impossible to move below 5000 in May. Also 5200 has become a bigger than before resistance! I expect a narrow range at least for a week!
a gentle LITTLE gesture from MR Gautam Bajaj is required
gautam
ur views
7 th seems to be ultimate bottom out day for next 2-3 months and u see a top in july,
ur views co incides with ilango's sir views that shorts shud wait to be covered @4960-5000
so might be, we see a nice little bounce back tomorrow morning and then in couple of days we get back to our business to fall into 4960-5000 kind of levels
here gautam, i wud like to draw ur attention towards mr. amol's views
a lil contradictory
he says after a lil bounce back till 11-12 th or may be couple of days more, we might again get into a sell off in the later part of may
so i wish to request u to mention which of the following possiblities seems probable to u as per combining the views expressed by urs gann and fibonacci theory, amols astro and i lango s TA ( even amol is also a great fan of i lango sir )
1. we recover a bit tomorrow to a levels say, 5150-65, then start declining again to make a ultimate bottom 4960-5000 kind off on 7 th of may, then we see a sharp sharp upside in next 3-4 days ( a kind of panic buying ) til 12-13, and then we start declining not with that great pace, but slow and steady but not breaching 7 th may bottom but not approaching highs even may be in a range in between before may expiry to honour amols views of a sell off in later part of may
2. we dont see any panic buy like situation and we rise slowly towards news highs after may expiry and then a sharp uprise in the months june and july around june expiry to be completed around 7 th of JULY
3. we might see a real sell off in the later part of May without bouncing or without any sharp upside( this wud now go against ur bottom formation on 7th may itself )
4. bottom is actually formed but not on 7 th may and we really see a real good lower level around MAY expiry
i know
this is asking a real too much to u
but ur views around the possiblities mentioned by me or any other probablity wud be a great help of us all
so kind take all troubles ( i know its very much demanding ) towards the betterment of i lango sir 's trader family
thanking u
r parekh r
4.
where to get nifty and stock OHLC price.
OHL and LTP price is available on nseindia.com
please help
Hai ilango sir and others
this down move shows us that the classic stock market
patterns can give us simple trades. We all saw the
triangle in daily chart breaking. But there was a head
and shoulders in daily chart as well.
I am posting the chart here.
http://niftychartsandpatterns.blogspot.com/2010/05/head-and-shoulders-effect-on-nifty.html
thank you
Friends,
Patni (mentioned specifically) and HCL lived by their TA in a falling market. Both reached their estimated highs today inspite of negative market condition.
Today's output placed most of them in an indicisive zone. Futures point to good amount of OI addition combined with downward price movement indicating Shorts(?) being built and stocks "weakening". Looks like the tunnel is Long for Shorts.
Manu - I was surprised to read FII's unwillingness to sell - so they have today? Considering the long period of buying since budget and consequent amount involved, today's sell is just a minor share? Also FIIs are building hedges in derivative in huge quantity (ET).
Where are we heading?
At 3.07 pm :
Ilango said...
"@ sreeram,
If 4960 level holds, another upmove may unfold moving past 5400.
Nifty's action from 4960 need to be observed to see whether that is impulsive upmove or corrective."
That means 4960 is a certainity.
best to all
Hai everyone
another classic pattern breakout candidate from the
banking sector.
ANDHRA BANK WEEK CHART - CUP AND HANDLE BREAK OUT
http://niftychartsandpatterns.blogspot.com/2010/05/andhra-bank-cup-and-handle-pattern.html
thank you
Manoj - You ensured sweet dreams for me.
Thank you.
Dear San,
Your focus on the charts is amazing. Though most of my friends are conversant with the chart patterns, I request you to make a small synopsis for each of the pattern (the definition and how to read kind) when you post one in the blog - it will be a great learning experience for non-TAs like me. We will have a live example along with the fundamentals/definition.
For me Head and Shoulder means a Shampoo brand - not a joke - just the magnitude of my ignorance.
If this could be done, you would have accumulated a good collection of labels in the blog - chart patterns and live examples, as Ilango serves the various Teach inctricacies in the label.
Please consider.
hi llango sir and friends .... dow down -92 and SGX NIFTY TRADE 5095 AT 12.18 AM MEANS DOWN BY 36 POINT ....ANOTHER WEAK OPEN MKT ....REGARDS ... THANXS
Dear manu,
Good Eve.
Regarding Fii figures. My own thinking is that FNO market is a weapon for Fii and Fii used to use it when and only it is required for their investments/positions.
Though market closed near its top today, for me tomorrow if there is any immediate up move in early trades from here it might not be sustainable one. Still there are lots of hurdles ahead. If market wants to go up from here then first it should come at least up to 5065(Dear Ilango Mentioned it in his early comments) before 2nd session. Nifty’s 2.83 Cr.O.I. is also difficult task for bulls. Today’s almost 100% additions in O.I. compare to yesterday in 5100 CE and 4900 PE suggests the undertone of the market.
On the other hand Nifty gave a close above 5100 after touching almost 5050,so it wont be easy task for bears to break 5050 very easily either.
All N all Nifty should remain between 5050 & 5150. A hurried movement in either direction might cause a problem for either bulls or bears.
P.S.
In spite of these observations market has kept its rights reserved. Let us see tomorrow. Good Night.
Dear Sanjay Kr Jaiswal,
Thanks for your MP values.I shall watch 5116 as well as 5125 as a turning point in early trades.
Dear manu,
second thought....
Fii covered Nifty futures,because they wanted to sell in cash for higher price.And who knows, tomorrow they might sell again Nifty future to press down Nifty below 5050? Let us see.
Dear syamalaGood afternoon
when open intrest in call increase but call
price dosent increase with increase in nifty value
means call writen is going on
Regards,
rahul
helo friends
forwarded mail sent by rahul for everybodys benefit
syamala
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