Incisive Nifty Trend Analysis

[SEVEN STAR]

spot 5720 support holding watch this level..breakdown of this level will see huge unwinding

 

[The Monk.]

These are just the weak hands booking out, once these are flushed out the rally will continue.

 

[THETRADER]

Reasons for crash in morning...

1. Huge amount of stoploss got triggered as like a chain reaction.
2. profit booking as is it Friday.
3. No buyers at higher levels.
4. Dirty Trick by smart money.
5. I bought put yesterday.

I like the last one!

 

[Reggie]

Monk, Hope you are right... However it helps to hold a little bit of doubt. Traders loose the most when they hold absolute certanity in the market. When the market is not going their way, its easy to rationalise. However if a trader is holding views based on the charts, that's fine as there is safeguard in form of stop loss levels.

These are just the weak hands booking out, once these are flushed out the rally will continue.

 

[saddaum]

things happened today will leads to consolidation
unwinding all my position

 

[josh1]

The last candle is tentative. Nifty should close below yesterday's low of 5751 and there should be a follow up on Monday to confirm reversal.

Higher risk takers can short with stop at 5815.
5700-12 and 5640 remain strong supports.

 

[summasumma]

Trading on National Stock Exchange (NSE) was halted for around 15 minutes on Friday morning as freak trades triggered a 15 percent drop in the index .
The exchange said it was investigating what it called abnormal orders resulting in multiple trades at low prices.

The NSE index, widely known as the Nifty, suddenly dropped by around 920 points to a session low of 4,888.20 points - 15.5 percent below its closing level on Thursday.

There was a freak trade in the cash segment which hit the circuit filter. However, the futures and options segment has not been affected, a source at the exchange told Reuters. As a result, markets stopped but trading was resumed soon after.

NSE futures and options markets traded as normal throughout, while trading on India's BSE index was also uninterrupted

IMHO, 1% down in NIFTY should not be considered as crash and the up-trend is still intact unless we close below 5720 (NF).

 

[14092012]

Correction will come, rather sooner than later and it will be a big as well as surprising and unexpected for many and this is bcoz of the spiral upmove that Nifty (indeed world mkts) is in rite now. Such Big moves are often executed to weed out people with less capital, so that when actual downmove occurs they shud not be able to catch it.

hi, could you please explain this a bit more at 101 level.

 

[The Monk.]

Monk, Hope you are right... However it helps to hold a little bit of doubt. Traders loose the most when they hold absolute certanity in the market. When the market is not going their way, its easy to rationalise. However if a trader is holding views based on the charts, that's fine as there is safeguard in form of stop loss levels.

I believe if u are a good trader, there shouldnt be any sort of doubt in the mind, although he should be alert .What i believe is markets will not only erase todays losses but will hit new high on monday itself.

 

[Arsh]

NSE says Emkay Global Financial Services has closed out the positions arising out of erroneous trades smoothly, member has been disabled from trading!