The smart holding of supports after negative Dow cues hasn't resulted in any follow up buying nor any short covering. Break of 5370 should lead to 5300-5330 zone. Bullishness may return only above 5435.
Hourly channel seems to have been broken.
And so did NF-1 min channel.
Hour TF in "sell mode"; Day in 1/3 rd sell with 1/3rd Buy & Hold.
22 comments:
National Stock Exchange’s Nifty closed at 5386.45, down 7.45 points or 0.14 per cent. The index touched a high of 5409.10 and low of 5361.50 in trade so far.
Regards,
Nifty Free Tips
thanks sir,
i was just guessing with a chart on ABC possibility when this post came up
Markets closed below the 5 day SMA of 5389.
Nifty was against my view,moreover, the global markets are substantially weak. The Dow collapsed by 261 points, while the Nasdaq fell 70 points on Friday and this could have a negative impact on sentiment.
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I remember reading that Ilango had kept his long position in May 09 just before the election results because the price was above the 5dsma. Can we be in for a reverse move now inspite of Dow being up 68 pts. We all need to be very light footed as the markets are about to show us where its headed in an explosive move.
guess u r making a valid observation manojag,
looks overheated, it would be opening the hot pressure cooker before steam escaped ... ?
Live - NF being traded on CME GLOBEX:
http://www.cmegroup.com/trading/equity-index/international-index/emini-sandp-cnx-nifty-50-futures.html
wow, thanks janak :)
Nifty Views/trend For Market Tomorrow (20th, July'10):
Nifty is trading in a range 5,350-5,420. Traders are suggested to follow the strategy of buying at dips only as long as Nifty is trading above 5,350. In the next session, buying activity is again expected from this level. Banking and metals may stay strong while auto and pharma may face profit booking.
Ref: Stock Market Trading Tips
http://www.cmegroup.com/trading/equity-index/international-index/emini-sandp-cnx-nifty-50-futures.html
http://www.cmegroup.com/trading/equity-index/international-index/emicro-sandp-cnx-nifty-50-futures.html
Thanks Ilango Sir,
Its due to your ever encouraging nature that we are able to confidently share our observations and move the baby steps in the world of TA.
Dear Mok has given a new toy for us to play with ,His energy and positivity is also quite rubbing.
Again thanking for your positive comments at
http://o-j-n.blogspot.com
Pl. check the homework of your students from time to time and guide them with regular inputs.
Regards
@ aarvee
loved ur blog :)
teejay
ohhh its not aarvee but all JustNifty friends :)
Trend of the Nifty may be range bound in this week.
Nifty may trade b/w 5458 -5321.Trend only will be set when it break any of trend line
All over trend is upward so there may be chances for upper side.
And if it close above 5458 in Weekly basis then it will show 5611 in next 2-3 week.
check chart behind my this thought
http://myniftycall.blogspot.com/2010/07/trend-of-nifty-for-nextweek-trend-of.html
AS WE EXPECT WEEK STARTS WITH NEGATIVE BIAS.
BUT NIFTY TRY TO RE-TEST 5450 LEVEL AGAIN.
BUT MARKET IS FULLY PRICED AND FEW MID-CAP AND SMALL CAP STOCKS LEFT TO RALLY. THAT ALSO NEED GLOBAL SIGNALS.
5155/5200-5400/5444 IS THE EXPECTED RANGE.
BREAK OUT IN UPPER END IS UNLIKELY.
BREAK-DOWN BELOW 5355 WILL LEAD TO 5266.
TWO CLOSING BELOW 5244 CONFIRM REVERSAL OF TREND WITH MINIMUM TARGET OF 5055.
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Hello All,
I too started ... but this one is for those who follow PnF (Point & Figure) charting method. I find this method quite effective once the trend has been set. Near accurate levels of support & resistance can be expected.
http://niftypointandfigure.blogspot.com/
Comments are most welcome!
Regards,
Rajib
The key benchmark indices slipped into the red in late trade as most Asian stocks fell. For tomorrow the markets are expected to be sideways.
Get Best Intraday Stock Tips 20th, July'10
RV, thats a peanut playpen !
:)
Nice site, Rajib. I'll be following your work, pnf charting is so useful.
Sell Temptation Foods Ltd below 25.54, target 22.54 for 5 Days
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