NIFTY FIFTY

[AMITBE]

Nice one,Amit.....so far bouncing off 2642.

Hey saint, thanks...yes, and I hope it stays slack and flat, the way it has been so far.
The Nifty may be heading down to 2647-2649 again, and will become volatile below this.
So far the consolidation has been most sensible...a couple of days of this will move money back to midcaps languishing today.
So far so good.

 

[AMITBE]

The Nifty is holding close to 2653 as mentioned being the hing level.
This was broken biefly twice so far.
With lower tops and bottoms being made, below 2653, 2647-2649 have held yet, but looking at things, these may not last.
2642 and 2635 have been good supports in the past.

There she goes...
The levels are above for now.

 

[VICKY_SEEKINGINR]

Very Nice Amit

 

[AMITBE]

Very Nice Amit

Thanks Vicky...

A smart bounce off exactly 2642 mentioned above.
A climb above 2654 will be above danger.
Quite a calm, even if flat market.
Most desired, this consolidation in time rather than money.

 

[VICKY_SEEKINGINR]

once again bounced near support Level...

 

[AMITBE]

A most satisfactory day at the markets.
Came off the high levels in an orderly fashion, consolidated well, and did not break danger marks.
Would be great to have a couple more such sessions, and the Nifty would be squeezed out of the over bought zone.
Perhaps the volume would also come in at lower levels to take the action into the result season.

 

[AMITBE]

For a change the advance/decline ratio is not being perverse.
It went negative in a correcting market yesterday, as against going negative in a rising market, which has been the trend for some time.
Yesterday the pullback was neat...no panic, no adventure.
This may continue as long as 2630-2635 are not violated.
Going by the recent pattern where an upside comes on the heels of a minor correction, I wouild not be too surprised if the Nifty seeks higher ground today, but this is more conjecture than analysis.
Besides the 2630-2635 levels, 2617-2611 are strong points. Below, this 2600. The danger level is 2630.
To the up, 2650 is crucial to climb above. Above 2665 would be safe zone. 2677 would be a difficult resistance.
Will follow up.

 

[Saint]

wow.....gap down and dumping!!

 

[AMITBE]

2585-2579-2572.
What a ruddy opening!

 

[AMITBE]

2585-2579-2572.
What a ruddy opening!

Those are the supports mentioned above.
Possibly some good steals currently...very very cautiously.