General Trading Chat

[naughtynifty50]

I had posted yesterday that for the bull market to continue, Nifty had to close above 7715 (the reasoning for this too had been posted 1 month ago, in this Feb 25 post).

However, yesterday, Nifty closed at 7704 even though it went past 7715

Today also, Nifty failed at 7715 even though it briefly crossed it.

What we're seeing so far (March rally) is the result of huge short covering (loss recovery for those who were short in Jan/Feb) and a "pre rally". It's not a full blown rally as yet.

Nifty won't be out of the woods until it closes beyond 7842

Chart posted here: http://www.traderji.com/equities/101170-market-cycle-dates.html#post1146425

Thanks for the nice post
Today NIFTY closes at 7714.90, only razor thin less than 7715. Please elaborate, what is so special about 7715

 

[Contra]

Thanks for the nice post
Today NIFTY closes at 7714.90, only razor thin less than 7715. Please elaborate, what is so special about 7715

7715 is the common level through which significant movements (both up & down) in the past 4-5 months have materialized.

See the daily movement from Nov 2015 to Mar 2016

 

[vagar11]

7715 is the common level through which significant movements (both up & down) in the past 4-5 months have materialized.

See the daily movement from Nov 2015 to Mar 2016

Hammers at bottom. Price currently at resistance. If it is that simple then why do I lose money?
I know the answer is impatience.

 

[Rish]

Hammers at bottom. Price currently at resistance. If it is that simple then why do I lose money?
I know the answer is impatience.

:thumb::thumb::thumb::thumb::thumb:

 

[oldtrader]

Guys, Opentrade of Zerodha is active now. https://opentrade.in/dashboard/

 

[TradeJoker]

777point sensex post budget rally, that was 7 years top rally
Tomorrow 7777 in nifty ... bowchickwowwoww.. :yahoo::yahoo:

 

[naughtynifty50]

777point sensex post budget rally, that was 7 years top rally
Tomorrow 7777 in nifty ... bowchickwowwoww.. :yahoo::yahoo:

yeah today to get it. 7676 decisively crossed and closed above it.

 

[Smart_trade]

Wishing a very happy Holi to all our trader friends. Let GREEN be the colour in your ledger today and for the whole of coming new financial year.

If you have booked short term profits in shares then you can also think of booking some losses in short term and take advantage of "Tax Loss Harvesting". For more details refer to the Zerodha article below. Last few days remaining for such tax loss harvesting.

http://zerodha.com/z-connect/traders-zone/taxation-for-traders/tax-loss-harvesting

Smart_trade

 

[timepass]

BNF : open = high. Also note the LOD, exactly 100 pts

 

[niftyrider]

Wishing a very happy Holi to all our trader friends. Let GREEN be the colour in your ledger today and for the whole of coming new financial year.

If you have booked short term profits in shares then you can also think of booking some losses in short term and take advantage of "Tax Loss Harvesting". For more details refer to the Zerodha article below. Last few days remaining for such tax loss harvesting.

http://zerodha.com/z-connect/traders-zone/taxation-for-traders/tax-loss-harvesting

Smart_trade

Happy Holi