Thursday, November 21, 2013

Nifty is weighed "down" by the realignment of Day & Week technicals...


8 comments:

Raghavendra said...

Dear All,

To my eyes - there is a chart pattern (Nifty day - 5D Bar chart) similarity at tops of 6229 and 6343 on prior upmoves till 6229 / 6343 and down moves post 6229 and 6343.

Raghavendra

Sudhakar said...

Dear Master

Kindly post JNSAR levels for NIFTY50 stocks and NIFTYMIDCAP50 stocks for 22-11-2013 in Stock Wealth.

Thanks & Regards

Kumar said...

Friends,

Please go through the analysis, share your view for tomorrow's plan.

Last fall on Nov 13,

NF 6037
NS 5988

Positive Divergence & OS Hour. So, bounced and made high @ 6211.

Option Data

6000 CE OI 1734950 - Resistance
6000 PE OI 4927650 - Support

Pattern - Dark Cloud Cover

Today

NF 6018
NS 5999

Negative Divergence & Not OS Hour

6000 CE OI 3181200 - Resistance ( Increased significantly, chance to break 5980)
6000 PE OI 5740100 - Support

Pattern - Evening Star


Ilango said...
@ Nilesh,

If it does not hold 61.8%, then 200dsma is the last support which will make a major shift in technicals.

November 21, 2013 at 2:54 PM

Master's comment on Excel

If stays below 6050, likely to impulse down to 5800 or lower

Conclusion:

Tomorrow, if NF breaks 6000 then it is clear sell (Last time NF didnt fall below 6000). And if 5946 (61.8%) does not hold then it is marching towards 200 DSMA


Senior EW Experts,

I am BIG ZERO in EW.

Please throw light in terms of EW for today and on Nov 13?

JNSAR Seniors,

Please share your view on this.

Pranams
Kumar

rajiv malik said...

do we expect a bounce tomorrow ?

two news items on cnbc today-

first- tapering spooks indian market
second- yellen to be next leader of us fed

third-
even udayan mukherjee of cnbc said a few days back 6000 likely to be held.

at 6350 people were highly bullish
at 6000 people are so very bearish

do we expect a bounce tomorrow ?

sometimesbullsometimesbear said...

Dunno about Nifty
But sure Tarun Tejpal is likely to bounce...:):)

sometimesbullsometimesbear said...

Poor chap...

I guess he forgot the holy maxim:

Never dip ur PEN in OFFICE INK.....:):):)

Kumar said...

@ rajiv malik

Thanks for your reply.

When we are at top (6300), people will talk about the tapering news.

Udhayan Mukhurjee of cnbc, read the article. This time, he did not tell anything. Now, he is silent.
why?

Few days back, Yellen told that tapering is not possible till the economy recovers.

Technically, we are in the 6000 - 6300 (as per option data).

Though we have huge support @ 6000, yday we broke. And 6000 CE writers back with huge power.


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