NIFTY FIFTY

[AMITBE]

The levels.
Support line is 3504-3499-3494-3488-3484-3479-3476-3473-3467-3461-3458-3455-3449-3442-3437-3434.
More later if need be.

To the up, if 3513 and 3517 can be taken, then 3520-3526-3529 also need to be held for any upside.
But the up levels would have to be reviewed later for obvious reasons.

At this point the important levels are 3442-3459-3463-3469-3476--3481-3487-3493 and things are back on an even keel.
3459 and 3476 are crucial to take and hold.

 

[vizzie]

At this point the important levels are 3442-3459-3463-3469-3476--3481-3487-3493 and things are back on an even keel.
3459 and 3476 are crucial to take and hold.

Hi Amitda !!

How r u doin?
What an amazin recovery..

cheers
vizzie

 

[AMITBE]

Hi Amitda !!

How r u doin?
What an amazin recovery..

cheers
vizzie

Hi vizzie...yes a remarkable recovery from the day's low, but then the fall this morning was ludicrous and so farcical.

When they say the market has a mind of its own, they may want to add that the market regulators have none whatsoever.
The IPO scam is old hat, and could have been better handled.

And what about the timing of the whole thing?
On the last day of the working week, the market participants, especially the retail kind wake up to panic and what do they do?
In the thick of some good results just come out uptill yesterday, on the first day of price discovery of the new contracts, the market gets pushed into hysteria, or rather, gets thrown to the wolves.

Wouldn't we be right in smelling a scam here?
Was this any way of conducting regulations?
Thousands of crores worth of market-cap vaporises into nothing.
Can we demand that some heads should roll?

Yeah...so the air-heads at SEBI this, and the poor suckers that.
It's just getting better isn't it.

Oh well...so far so good with the markets, and the various levels mentioned above are playing well.
The attached chart shows that well, along with some important trendlines so far for the session.
They start at all the important peaks, that also coincide with the important levels. Get a close look...it's a one minute line-chart.

We are not quite out of the woods yet.

 

[alok]

Very nicely wrote Amit... Cann't resist admiring you. Indeed it looks like someting is going wrong around there.

 

[AMITBE]

At this point the important levels are 3442-3459-3463-3469-3476--3481-3487-3493 and things are back on an even keel.
3459 and 3476 are crucial to take and hold.

Well, things are at an even keel, yes?

If in the dying moments the Nifty can keep above 3493, it a great comeback and an affirmation of the market's strength.

A close above 3511 would be really strong.
A bit late, but this is the day's level.

 

[alok]

and it does.

 

[vizzie]

Well, things are at an even keel, yes?

If in the dying moments the Nifty can keep above 3493, it a great comeback and an affirmation of the market's strength.

A close above 3511 would be really strong.
A bit late, but this is the day's level.

Well the closin is all the more dramatic..

cheers

 

[feels_good_today]

Wouldn't we be right in smelling a scam here?
Was this any way of conducting regulations?
Thousands of crores worth of market-cap vaporises into nothing.
Can we demand that some heads should roll?

Exactly, perfectly said. Yesterday a TV channel said the total money earned by people involved in IPO scam was somewhere near 300 crore. If big players would have caught the market right today (which they would have) the sum could be much more greater in today's case. Thanks to SEBI.

And now they have postponed the order on indiabulls and others may follow suit. So at the end of it, all this for nothing.

thanks amitji for levels today really helped us a lot.

thanks

 

[AMITBE]

Well, things are at an even keel, yes?

If in the dying moments the Nifty can keep above 3493, it a great comeback and an affirmation of the market's strength.

A close above 3511 would be really strong.
A bit late, but this is the day's level.

Thanks Alok, vizzie, and feels_good for your comments.

So in the end 3511 didn't come through as the adjusted closing price, though the last traded level was 3515.
That's good enough for me.

Interestingly, today's candlestick is a perfect Dragonfly Doji.
You might think it's a rare kind of insect!
And it is, as far as candlesticks go.
You'll sight it as a long 'T' tonight on the daily charts.

Today's open is 3507.45 and today's close is 3508.35, so they are pretty much equal.
Today's low is...wow...3342, giving the bar a loooong shadow, or 'tail'.
So a perfect Dragonfly Doji.

If the Nifty had closed a few points above or below today's open, then this would have been a Hammer bar.
It's believed that the certainty for a Hammer is classified as low, and the trend reversal can be confirmed by a higher open and an even higher close on the next trading day.
Whereas Dragonfly Doji has a higher reliability associated with it than a Hammer.

Cheers all!

 

[vizzie]

Exactly, perfectly said. Yesterday a TV channel said the total money earned by people involved in IPO scam was somewhere near 300 crore. If big players would have caught the market right today (which they would have) the sum could be much more greater in today's case. Thanks to SEBI.

And now they have postponed the order on indiabulls and others may follow suit. So at the end of it, all this for nothing.

thanks amitji for levels today really helped us a lot.

thanks

Hi

"Portponed" - Can u pls elaborate on that or maybe give some link to the news or smthing..

cheers
vizzie