Anyone following delivery % could throw some light on it.
AD charts are not at all encouraging so far.
As long as weekly charts are in uptrend, downmoves are to be treated as "corrections" only.
Thursday, August 26, 2010
Nifty repeats another 32pt settlement..!!
Nifty repeats another 32pt settlement..!! - What does that mean..? Two whole months of FIIs purchases been hedged in the futures market. Only a delivery based selling in the cash market can create sustained selling. One day of selling will not do. Follow up selling is required.
AD charts are not at all encouraging so far.
As long as weekly charts are in uptrend, downmoves are to be treated as "corrections" only.
AD charts are not at all encouraging so far.As long as weekly charts are in uptrend, downmoves are to be treated as "corrections" only.
Elliot's Impulse waves.(Part-5)
IMPULSE WAVES :- The Basics Waves that move the market in the direction of its main trend either up or down are called Impulse waves. 1....
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5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ... -
I 'll always be there for you. To make you feel that you're secured. And even if the rain is pouring hard and the sky is almost dark... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
6 comments:
Dear I lango sir, Does it mean that at very small fall the A/D line can be reaching lows and a sharp bounce from there throwing nifty again above or near all time Highs, just a curiosity ?
Nifty as expected has closed below the 5480 mark and now it may be little bearish for the short term, we can expect further correction up to 5450/5420/5380 levels. Below 5380 we may expect further downside to 5350-5250 levels . 5540 is important resistance area on the upside.
Tomorrow nifty may take everyone on a +ve surprise tomorrow being the week last day of dabba trading we may get higher levels to short and again as pointed by sir no real extensive selling has taken place it is only trapping the longer ones on the short(RIL TATASTEEL) and short ones on the long side (TATAMOTRS ,JSPL BNKNIFTY and ICICI bank)now next month reverse game also with the Parliamentary session on a big selling cannot take place for the feel good factor.
Market rumour that BPCL might reach 4 fig. mark and NTPC LTalso going in for a big jump due to nuke deal and Sbi still has upward run in the wake of new merger talks anyone awre of when O>P>Bhatt is going to retire because if going to retire in near future would certainly expediate the merger process for History Credit and Records sake
@ Ilango ji,
Since making a low of 4987 on 8th June, nifty is rising in channel with making higher highs and higher lows.
What could be meaning of this and generally how long can this continue? I am also asking this cos this has been the longest journey for nifty in upward direction in almost 1 yr now before having a decent correction.
Regards
Naveen
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