NIFTY FIFTY
- Thread starter AMITBE
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nkpanjiyar said:
Did you mean 4047
or 3047 !
cheers,
nkpanjiyar
or 3047 !cheers,
nkpanjiyar
But we could see 4047 in our life time too.
Anyway, unable to keep 3042 and a slip below 3036-3034 could take some doing for recovery.
Volatility has returned at these levels which is a good thing. The market needs some current in either direction as this has been missing for a while.
While the downside immediately still appears limited, and the close today would bring better light on this issue, the upside certainly could do with some volatile momentum to push higher as the possibility exists.
A close at 3017.55 gives some leeway on a day like this.
Numbers are important here and since a strong base support didn't get blown all in one day, and then closing higher above another important level mentioned above, one would not say the market is ready to break just yet.
What happens tomorrow is another issue, but a fall day didn't quite crack and this is important for now.
As written this morning, interesting times lie ahead.
Numbers are important here and since a strong base support didn't get blown all in one day, and then closing higher above another important level mentioned above, one would not say the market is ready to break just yet.
What happens tomorrow is another issue, but a fall day didn't quite crack and this is important for now.
As written this morning, interesting times lie ahead.
With some crucial levels surviving the late day assault yesterday, we can carry more than a little hope going in this morning.
If the hope is for a climb, its just as good for minimal damage to the down.
This straddles both sides yes, but that is what the picture holds.
The pullback from the verge of a sharp decline is on the one side showing resilience.
Then closing above an important level, and a tad below another bullish level is the draw to the up.
Also we are in a twilight zone at these levels.
There is no calling till 3050 plus levels are taken to the up.
And to the down till 2970 area remains intact there should be no panic.
The opening is crucial.
A climb above 3026-3030-3034 and to hold there would bring back some semblance of an up momentum. Clearing 3037 may well begin short covering for higher levels.
This is important at the opening.
Else the bears get a hold turning the session into a struggle.
Hold very tight stops especially on weak counters and those showing signs of peaking.
On the up: 3019-3024-3026-3030-3034-3037-3040-3043-3046.
To the down: 3014-3011-3008-3005-3002-3000-2997-2993-2991. Some important levels are 3012-3008-3004-3000-2997-2991.
If the hope is for a climb, its just as good for minimal damage to the down.
This straddles both sides yes, but that is what the picture holds.
The pullback from the verge of a sharp decline is on the one side showing resilience.
Then closing above an important level, and a tad below another bullish level is the draw to the up.
Also we are in a twilight zone at these levels.
There is no calling till 3050 plus levels are taken to the up.
And to the down till 2970 area remains intact there should be no panic.
The opening is crucial.
A climb above 3026-3030-3034 and to hold there would bring back some semblance of an up momentum. Clearing 3037 may well begin short covering for higher levels.
This is important at the opening.
Else the bears get a hold turning the session into a struggle.
Hold very tight stops especially on weak counters and those showing signs of peaking.
On the up: 3019-3024-3026-3030-3034-3037-3040-3043-3046.
To the down: 3014-3011-3008-3005-3002-3000-2997-2993-2991. Some important levels are 3012-3008-3004-3000-2997-2991.
Right at the start 3000 took the weight of of the sharp move down and then way up in the safe territory.
Playing with danger again and it does really seem the high levels are posing many problems.
On the other hand we have seen what a lot of good testing the lower levels for strength can do, many times over.
I don't mean intraday low levels but deeper, because it would get more and stronger hands into the game again to move up.
For now, 3016 and 3024 are crucial supports with 3004-3008 bringing in the rear.
To the up pretty much the same levels as in the first post.
Playing with danger again and it does really seem the high levels are posing many problems.
On the other hand we have seen what a lot of good testing the lower levels for strength can do, many times over.
I don't mean intraday low levels but deeper, because it would get more and stronger hands into the game again to move up.
For now, 3016 and 3024 are crucial supports with 3004-3008 bringing in the rear.
To the up pretty much the same levels as in the first post.
Am unable to see such a formation as yet, Satya.
As you've spoken of a month from here, from the latest high close at 3041 a couple of days ago, the Nifty would have to slide all the way to 2940, or lower at 2809 to test support for a bounce back to meet resistance at 3000 or 2910 whichever be the case. From there it would need to break below 2940 or 2809 again to confirm the h&s.
All this can happen at other levels too of course, but these are the nearest.
No one can make a call on this so far ahead, and much can happen in the midst.
For noe 3011, 3013 and 3019 are important levels to take...and hold.
As you've spoken of a month from here, from the latest high close at 3041 a couple of days ago, the Nifty would have to slide all the way to 2940, or lower at 2809 to test support for a bounce back to meet resistance at 3000 or 2910 whichever be the case. From there it would need to break below 2940 or 2809 again to confirm the h&s.
All this can happen at other levels too of course, but these are the nearest.
No one can make a call on this so far ahead, and much can happen in the midst.
For noe 3011, 3013 and 3019 are important levels to take...and hold.
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