NIFTY FIFTY

[jdm]

why leave TCS. just hope when nifty will turn free float.

 

[amitt29]

Hi all,
Just thinking that there is some hesitation in continuation of the main price movement.
Anyhow if 2830 is broken,then Amitji's 2799 may be in danger.

 

[adilsaleem]

Hi Amit
FTSE 100 looks decent. It was down by 40 points and has recovered. Would this help our market?

 

[jdm]

the market breath is very positive. CNX MIDCAP is just 2.6 pts down. therefore the undertone is still bullish. thats a positive factor.

a positive European market is also a bonus.

 

[AMITBE]

Its just the consolidation going on, albeit with less violent choppiness.
Over the last few days several important landmarks have been attempted and tested with no great show of strength.
Yesterday, even the recent Black Monday low of 2896 was ignored.
Well, the good thing is, we may just be looking at a trading range coming up.
Id written here a few days ago that after fulfilling its near term destiny of the tryst with the 200 DMA, the Nifty would then want to test the recent low again.
If so, then I would welcome such a move, as that would be in keeping with a bottom building exerciseand we need that badly.
Its not likely to be over and done with, with the same speed as the initial fall, as much confidence building and global cues are involved.
Then at the end of the month there is the much hyped release of Ben Bernanke Apocalypse Now.
Ive read at this forum someone mention there would be another downwards circuit on the markets on June 30.
Apocalypse indeed!

The last minute sell off yesterday is a bit confusing.
Would it be weak speculators dumping suddenly and a simultaneous opportunistic shorting, is difficult to say.
What is clear over the last couple of sessions is that select stocks are being quietly accumulated. The positive a/d ratio is evidence of this.
This also lends credence to the assumption that a bottom building exercise may be under way.

For levels, the Nifty has a clear run between 2861 and 2885-2889.
Then congestion persists at 2901-2917.

For supports at this point the following numbers from yesterdays second post hold true:
If 2839 is breached, then 2814-2819 are threatened then 2796-2799.

Will update later.

 

[pkjha30]

It’s just the consolidation going on, albeit with less violent choppiness.
Over the last few days several important landmarks have been attempted and tested with no great show of strength.
Yesterday, even the recent Black Monday low of 2896 was ignored.
Well, the good thing is, we may just be looking at a trading range coming up.
I’d written here a few days ago that after fulfilling its near term destiny of the tryst with the 200 DMA, the Nifty would then want to test the recent low again.
If so, then I would welcome such a move, as that would be in keeping with a bottom building exercise…and we need that badly.
It’s not likely to be over and done with, with the same speed as the initial fall, as much confidence building and global cues are involved.
Then at the end of the month there is the much hyped release of Ben Bernanke ‘Apocalypse Now’.
I’ve read at this forum someone mention there would be another downwards circuit on the markets on June 30.
Apocalypse indeed!

The last minute sell off yesterday is a bit confusing.
Would it be weak speculators dumping suddenly and a simultaneous opportunistic shorting, is difficult to say.
What is clear over the last couple of sessions is that select stocks are being quietly accumulated. The positive a/d ratio is evidence of this.
This also lends credence to the assumption that a bottom building exercise may be under way.

For levels, the Nifty has a clear run between 2861 and 2885-2889.
Then congestion persists at 2901-2917.

For supports at this point the following numbers from yesterday’s second post hold true:
If 2839 is breached, then 2814-2819 are threatened then 2796-2799.

Will update later.

Hi Amit
Just to say one thing.When cloth is wahsed we tend to wring it to remove excess of waters so it dries quickly. The wringer, we are witnessing ,seems to be similar exercise for the bulls and bears [ I think weakhands(in winners and loosers )are called bulls and bears].This may be bottom building exercise and select ones being accumulated.

Seems to be a hint for long term investment???

Pankaj

 

[jdm]

with midcap index up 2% no doubt about that.

 

[AMITBE]

Its just the consolidation going on, albeit with less violent choppiness.
Over the last few days several important landmarks have been attempted and tested with no great show of strength.
Yesterday, even the recent Black Monday low of 2896 was ignored.
Well, the good thing is, we may just be looking at a trading range coming up.
Id written here a few days ago that after fulfilling its near term destiny of the tryst with the 200 DMA, the Nifty would then want to test the recent low again.
If so, then I would welcome such a move, as that would be in keeping with a bottom building exerciseand we need that badly.
Its not likely to be over and done with, with the same speed as the initial fall, as much confidence building and global cues are involved.
Then at the end of the month there is the much hyped release of Ben Bernanke Apocalypse Now.
Ive read at this forum someone mention there would be another downwards circuit on the markets on June 30.
Apocalypse indeed!

The last minute sell off yesterday is a bit confusing.
Would it be weak speculators dumping suddenly and a simultaneous opportunistic shorting, is difficult to say.
What is clear over the last couple of sessions is that select stocks are being quietly accumulated. The positive a/d ratio is evidence of this.
This also lends credence to the assumption that a bottom building exercise may be under way.

For levels, the Nifty has a clear run between 2861 and 2885-2889.
Then congestion persists at 2901-2917.

For supports at this point the following numbers from yesterdays second post hold true:
If 2839 is breached, then 2814-2819 are threatened then 2796-2799.

Will update later.

The congestion line is 2884-2888-2892-2896-2900.
Then 2908-2912-2916.
That's quite a lot of numbers to scale, even if the morning moves so far suggest good consolidation.

A slip below 2871-2867 will smother the sentiment.

 

[adilsaleem]

To me it looks more like a BULL TRAP .... might cross 2912 but will drop later , im not an expert tho

 

[amitt29]

Maybe setting up for Friday again.