NIFTY FIFTY

[srisara]

AMIT,
Very good and excellent Analysis. Your analysis not only give us a fair idea of how the markets may behave, but if we closely follow your readings, there is a bit of learning we can do ourselves (its self reading and learning articles).
This improves our knowledge also, and to a extent we can deduce support and resistance points of Nifty. Not very accurate, but alteast close to it.

Thanks once again, keep going...

Satya

 

[AMITBE]

AMIT,
Very good and excellent Analysis. Your analysis not only give us a fair idea of how the markets may behave, but if we closely follow your readings, there is a bit of learning we can do ourselves (its self reading and learning articles).
This improves our knowledge also, and to a extent we can deduce support and resistance points of Nifty. Not very accurate, but alteast close to it.

Thanks once again, keep going...

Satya

Thanks srisara...yes it's there for all to see and learn from. I'd be happy if you learn things here, just as I'm doing.

NIFTY moved along expected lines, and got support at 2360 levels, though it had slipped a tad below that.
This is not to write off things as a deep correction happening here. There's still much at stake before Thursday, and we may be in for surprses still in the next couple of days.

 

[srisara]

AMIT,

whats your suggestion for us overall? Going Short! looks to be the safer than going Long?
At anytime, having Open Positions (ie. Long positions) looks to be risky.

Satya

 

[Saint]

So far we are still holding 2355 on the NIFTY......a break of that level means that we would be taking out the low of the previous week after more than 10 weeks of higher highs and lows.Break of 2355 will put us in correction mode...we are going to consolidate via price or time.

 

[AMITBE]

I'm expecting a rally sometime soon, even if a weak one, tomorrow or the day after. Probably the day after.
2350-2355 levels are a good support, and while they are likely to be tested, there is a clear chance of a revival here. Thrice in recent times NIFTY has taken support here.
Yes, there's not much below 2350 and that's the reason I believe it'll survive to win this important round.

 

[srisara]

great going by all you guys.. keep it up...

Satya

 

[AMITBE]

I'm expecting a rally sometime soon, even if a weak one, tomorrow or the day after. Probably the day after.
2350-2355 levels are a good support, and while they are likely to be tested, there is a clear chance of a revival here. Thrice in recent times NIFTY has taken support here.
Yes, there's not much below 2350 and that's the reason I believe it'll survive to win this important round.

I still feel there may be some upward move after the three day fall, before the much talked about correction happens.
There is nothing in the market moves that suggests this, but perhaps a little more than just my wishful thinking.
Yes, below 2350-2355 is 2342. Past this its anybody's call.
For regaining strength, NIFTY will have to cross 2377(!) and stay above 2380, and even test 2390, which seems a tall order looking at the sentiment.
2370 to 2380 would be buying time for either way movement.

 

[AMITBE]

Very flat and sideways.
After the initial early burst to 2380, has attempted 2373 a couple of times.
Got supported at 2358 earlier and I hope it'll remain above this for some semblance of tenacity.
2364-2366 has been the band so far.
Interesting period coming up...who'll blink first?

 

[AMITBE]

Got supported at 2358 earlier and I hope it'll remain above this for some semblance of tenacity.
Interesting period coming up...who'll blink first?

So the fight is on at 2350-2355.
Holding for now but doesn't look too hopeful, does it...

 

[Saint]

So the fight is on at 2350-2355.
Holding for now but doesn't look too hopeful, does it...

Hi Amit,
It's held for now.....maybe we are going to have a bit of a weak rally,and then a further fall.

Saint