NIFTY FIFTY

[AMITBE]

To one's amusement, the term doing the rounds is 'induced correction', as in induced lobour.
There has been a lot of sword rattling from the PMO down to SEBI, with manipulation being thrown around as a possible cause for the current rally.
Now, this rally is over two years old, so what do we have to say for that? Are all the traders and investors a flock of blind owls?
Is the suspicion only limited to the runaway penny and small counters, or do the front line counters too reek of foul play?
These are some of the issues that the authorities need to articulate with clarity, in order to not throw panic into the hearts of the investing, trading community.
But the govt. has it's own political imperatives perhaps, with the Left parties screaming foul play.

The worst may not be over, but the pull back yesterday really makes one wonder.
Early to say yet, but let's play safe for now.
The levels are pretty much the same as yesterday to the down.
2560-2555-2550-2545-2540 are all supports.
To the up, it's anyone's guess for now.
Will update later.

 

[AMITBE]

At this point it's important to move above 2556 and keep there for some time. Market would be less choppy there.

 

[AMITBE]

At this point it's important to move above 2556 and keep there for some time. Market would be less choppy there.

2555 may support for a bit, but 2562 is the level to sustain overall for now.

 

[AMITBE]

Below 2550, chances of a quicker dip may increase.
For this reson 2556 is the safe level in the short run.

 

[AMITBE]

We are trading in some danger zone around 2545-2548 levels. 2543 was tested earlier from where the bounce came.
Below 2543 is 2536, 2529-2525-2516-2512-2505.
These are levels for reference.

 

[AMITBE]

Below 2550, chances of a quicker dip may increase.
For this reson 2556 is the safe level in the short run.

We are trading in some danger zone around 2545-2548 levels. 2543 was tested earlier from where the bounce came.
Below 2543 is 2536, 2529-2525-2516-2512-2505.
These are levels for reference.

As pointed in the earlier two posts above, we are indeed looking at yesterday's supports again.
Will post further levels again if the need arises.
The difference in today's fall from yesterday's, is that it's a lot more studied and measured today.
Yesterday was panicked, with an equally frenzied pull back.
This is more like a good and proper correction.
I do hope though, that we will find some strong support around here somewhere to consolidate in time.

 

[AMITBE]

2519 is a key support today.
Below this it could go deeper.
As this is known to tech savvy operators and traders, one hopes there will be buying support at these levels soon.

 

[roneeth]

2519 is a key support today.
Below this it could go deeper.
As this is known to tech savvy operators and traders, one hopes there will be buying support at these levels soon.

Hello Amit!

Great thread.. Thanks for taking pain and maintaining this thread....
Hope it bounces back from here.

Regards

Roneeth

 

[AMITBE]

Hello Amit!
Great thread.. Thanks for taking pain and maintaining this thread....
Hope it bounces back from here. Regards Roneeth

Thanks Roneeth...sometimes it feels as if only empty winds pass through this thread..

We are still in danger zone and not looking too good for now.

 

[rheinu]

thanks a lot Amit i am looking at ur updates and profited ... thanks again. still i am keeping nifty PUT AT 2450. shall i keep this for tomorow? pl keep on posting