Monday, February 3, 2014

Nifty Intraday Update-II


28 comments:

Iris said...

sudden increase in 6000 PE in last few minutes. Every indicator is down. Dont know whats making 6000 as strong base.

Prabhat said...

@OI experts: As per ICICIdirect, the OI addition @6000PE happened at average price of 80. So the theoritcal suport stands at 6000 - 80 = 5920 & nifty will not go below it as long as the OI addition stays...

Please correct me in case I am wrong...

mynac said...

Afternoon Everybody....
Looks tough for Bulls but they may try to come to 6060,up to 3.30 PM.

Iris said...

@ Mynac

And that will be 61.8% of fall from 6075 to 6041. Another point to look for weakness

raj.abj said...

what it is indicating by staying here ?????

Nifty Simba said...

He who learns but does not think, is lost! He who thinks but does not learn is in great danger.
Confucius

mynac said...

Dear raj.abj,
Though weakness is there and not any concrete reason to bounce back,still there is not substantial addition in NF O.I.
For further low it needs selling across the board,is assumption.

Squander Star said...

Master

pls let us know the 30 WK SMA

Piyush Sharda said...

sir, 12345 shud start from 6097.85 or 6096.95?

ITradeForProfit Daily said...

Above 88 6000PE can see huge unwinding.

Sanjay Jaiswal said...

Dear Ilango Sir & Blogmates,

OI Table Update at 1:00PM, Pivot-6112, S1-6090, S2-6067, VWAP-6083

Nifty Future has moved down towards the lows of the day around 6060, but still not much aggressive addition at 6000CE, though the 6100CE writers are adding and now has the highest addition for the day…

Thanks & Regards

Raman Kapoor said...

Dear Sir, Has the abc completed from 6027? Last friday u had mentioned that a b had completed at 6098

Piyush Sharda said...

thanks sir. looks logical as 6069 was whipsawed by 5 wave to 6096.65

Ilango said...

6049 6054 ... is 50%-61.8% retrace of the last fall from …… 6073 to 6024

80% is - 6063

If weakness is to return, it should be around 6049 6054

Strength gets confirmed above 6054 OR 6063

gaurav said...

sir is the fall a 5 wave or 3

Aly said...

Dear Ilango sir,

Does the fall from 6098-6024 look like a 5-wave completed form to you?

Ilango said...

@ gaurav,

A 5 sub-waves done from 6072.55 to 6024.25 which is part of the fall from 6097.

It could be an "abc" from 6097 or "iiird" wave from 6097.

Prices in this bounce would decide.

Raghavendra said...

Dear Ilango sir,

Would BN Jan month candlestick pattern qualify for the "Evening star pattern"

Raghavendra

prakashbkc said...

Master ,
Is 5 wave completed?
I m counting on 5-min t/F as 6097-6053 as i
6053-6075 as ii
6075-6024 as iii
6024-6042 as iv

Iris said...

Sir

What will be the distinguish point or identification if abc or iii.
Can we say if stayed below 6063 will mark it as iii and if move passed it then abc

Raghavendra said...

Dear All,

Quoting Vivek Patil from ICICI Direct.com

"The gap-down action of last Monday remained uncovered during rest of the week. That leaves it as an un-covered gap-down action on the Weekly chart. This also makes it a first Weekly Gap-down in 6 years. The last such Weekly Gap-down action was seen exactly 6 years ago on 21st Jan’2008.

During Jan’08, Sensex topped at 21207 on 10th Jan, lost 5872 pts or 28% in 8 straight days. It then bounced back to the Weekly gap-down level. The bounce-back retraced the initial fall by about 61.8%. Failing to cover the gap-down, however, Index opened the larger bear phase, which saw it losing 63% from 21207 to 7697 in about 9 months till Oct’2008.

We must, therefore, watch if the current drop also continues for about 8 days till coming Tuesday, and if Index makes any attempt thereafter to bounce-back towards last Week’s gap-down area. We may also see if any such bounce-back it able to cover, or indeed fails to cover the Weekly gap-down area. That could provide us with mid to long term cues for the market.

Technically, failure to cover any gap-down is a -ve indication. Last week’s gap-down action at 20899-21124 (Nifty 6188-6264) would, accordingly, be watched as crucial hereon."

Aly said...

Dear Sir,

In 1 pm chart, nifty movement and indicator movement have been offset.

Harinder Singh said...

A bounce is surely coming today or tomorrow

Prithvi Raulji said...

If it will ;abc'
than we may bouncing up to near 6150

shriram said...

Time for a bounce... CMP-Dev.DLo again enters 1 Std Dev zone..

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