Charts for the Day

[rohanr_b]

Every one pointing to charts for a down trend . what is the lower end that the market will fall to if current levels are not sustained. will 5400 be seen..?

 

[a1b1trader]

Every one pointing to charts for a down trend . what is the lower end that the market will fall to if current levels are not sustained. will 5400 be seen..?

Yes, you are right to some extent
IMO, somewhere in between 5450-5400, if we fall any further from the current levels.

 

[preethi21]

Every one pointing to charts for a down trend . what is the lower end that the market will fall to if current levels are not sustained. will 5400 be seen..?

Market will go further down... and u can see 5000/4800 level on Nifty..

reason for this is strengthening of doller againt indian rs

Today Mr.Marc faber expressed his views on Downjohns ... saying it will crash 20% from current level...

its just a warning sign for all investors.. just be careful.. :thumb:

 

[Einstein]

since 2008, faber is yelling that market will crash, nothing new with this...!!

secondly, stopping injecting cheap money into stock markets is an essential thing to do and it was expected...
interest rates will go up and could trigger a bear market around the world markets by maximum, but i don't see any crash..

 

[anil_s_trivedi]

Nifty is in down trend and testing lower levels breached 5650 a crucial support zone. However a attempt made at 5486 levels for a bounce and we are currently in it. However a positional strength only when we chase 5650 with a force. Until then every rally is susceptible to fall.

Nifty Daily:

Momentum:
Short term - Down(but flattening indicating a sideways)
Intermediate - Down
Long term - Down

Hourly:
Momentum:
Short term - UP
Intermediate - UP
Long term - Down(but flattening)

With momentum readings it seems the bounce on hourly indicating a short term bottoming, a holding of 5550 and crossing 5600 is a sign of first strength on positional front and a move above 5650 is a sure sign of confirmation.

A failure to hold 5480 levels will make it vulnerable to test 5215-25 levels.

Trade with caution, as current rise may turn violent, if it has taken a pattern support at 5485. Then current rise may test 5800/5900 levels.
As coming weeks is more of news based and a volatility will be there better to trade light.

A notable thing is SENSEX didnt test lower low as NIFTY did it. It may be due to composition of index. But take everything with pinch of salt.

 

[anil_s_trivedi]

Nifty pre - update:

Opening near to a resistance zone of 5600-5610, if sustained will TGT higher.
Else it will consolidate here in between 5550-5610 to have next signal in making.

 

[anil_s_trivedi]

 

[anil_s_trivedi]

There has been a relative strength getting in bank nifty ,but it need to show up follow up action. Past signals are good one, current fall is also reading closer to earlier support levels.
We need price action confirmation and levels specified in previous post are valid for tomorrows day, let see how it goes. Remember we are playing for a likely bounce, it may not come, thats why we are with levels to judge intraday strength or weakness in it.

 

[rohanr_b]

Major profit booking seen from FII's pulling out profits gained in last few days in green. we can expect volatility in coming sessions.

 

[anil_s_trivedi]

Nifty pre update:

A likely opening near to 5600. Yesterdays closing is a good one. A support on intraday basis at 5560 zone needed to hold on.

A moving past 5605 and holding it a sign of strength, a move above 5625 will give upsides till 5650 / 5700 levels.

For first hour, watch 5585-90 zone for supports.
overall bullish sentiment may prevail, if yesterdays closing was of any clue to it.