NIFTY FIFTY

[AMITBE]

hi,,, amit,,,,2*** levels?????.......is it reaction of sonia' exit??????....or is it due to lack of sleep????

Dunno how far back that is from, eh!
Lack of sleep I guess.

 

[AMITBE]

The dog eat dog syndrome is as old as humankind.
From major funds to media analysts to now the politicians, no matter from high pedigree or the mongrel variety, this syndrome is quite endemic.

We were witnessing an exceptionally ferocious bout of it yesterday in the market where the bulls seemed to at last have it together.
Then at the last moment enter politicians and politics, the mother of all dog eat dog.
The market paused but didnt quite collapse.

While the fact of the resignation has been variously described as confession of a culprit to rare commitment to moral values by the various fighting packs, the ramifications of this are important to note. Some facts:
This is the last session of a week that has seen some pretty fierce fights.
This is also the last session before the start of the f&o expiry coming on next.
Lack of follow through buying has repeatedly exposed speculative players, giving the bears confidence.
The deep pockets have been very selectively holding up the Nifty above negative triggers in a sideways consolidation in time.
Consolidation in time is often same as biding for time, in the markets.

How the deep pockets behave today is important.
Would they like to carry positions into the weekend or not, where politicians drooling over brownie points can worsen the air, that is the issue.

If no threat is seen from the politicians as the day bears on, and if these guys decide to dig in and do what they have been doing all week, meaning holding the triggers, interesting possibilities get tossed up for the next week.
All this can be discussed next week after seeing what happens today.

The up levels of contention are 3249-3252-3255-3258-3261-3264-3267-3270-3273. There appears congestion above here for now.

Supports are 3244-3241-3238-3235-3232-3229-3226-3223-3220-3217-3213.
Further below 3197 area seems quite strong.

 

[AMITBE]

The up levels of contention are 3249-3252-3255-3258-3261-3264-3267-3270-3273. There appears congestion above here for now.

Supports are 3244-3241-3238-3235-3232-3229-3226-3223-3220-3217-3213.
Further below 3197 area seems quite strong.

Looking ahead, should the move push past 3273, then 3275 and 3278, it may have the strength to test 3281-3284-3287-3290.
Subject to 3273 and 3278.
These are possibilities.

 

[AMITBE]

Looking ahead, should the move push past 3273, then 3275 and 3278, it may have the strength to test 3281-3284-3287-3290.
Subject to 3273 and 3278.
These are possibilities.

3286.20 is as high as the action went, a little short of 3290.
Not bad at all as 3279.80 close sits above the 3278 trigger mentioned above.
Another strong weekly close on the climb.
Have a good one all.

 

[AMITBE]

Just to keep this short, there is no need to state the obvious going into trade in the f&o expiry week.
No, increased volatility is not what Im alluding to, though very much on the cards.
Whats obvious is the fact that the market continues to kick butt, both figuratively and factually.
Kicking butt as an expression is a plain enough metaphor.
Kicking butt literally is what they are experiencing who have been whining and carping for a correction, in the media and elsewhere, rather than flowing with the obvious trend.
Saying that there will be a correction is same as saying night follows day.
Its the most ordinary and mundane aspect of the market. We dont need Biblical prophet-of-doom like voices droning along on this.

Also, as in nature, and so in the markets, there are built in self fixing mechanisms in place.
A restraining influence during a stage of strong growth is quickly brushed aside through these fixes.
Similarly, an excessive spurt is moderated.
There is nothing exceptionally inventive about figuring this out, and those who exclaim Eureka! and run about pretending to be Archimedes are mere fools and should be treated as such.

To the levels then, to the up is the line at 3281-3284-3287-3290.
Above this seems congestion at 3294-3298-3302-3306, then to 3310-3314-3318.

Supports are 3274-3270-3266-3262.
Then 3259-3256-3253-3250. This for now.

 

[Saint]

Just to keep this short, there is no need to state the obvious going into trade in the f&o expiry week.
No, increased volatility is not what Im alluding to, though very much on the cards.
Whats obvious is the fact that the market continues to kick butt, both figuratively and factually.
Kicking butt as an expression is a plain enough metaphor.
Kicking butt literally is what they are experiencing who have been whining and carping for a correction, in the media and elsewhere, rather than flowing with the obvious trend.
Saying that there will be a correction is same as saying night follows day.
Its the most ordinary and mundane aspect of the market. We dont need Biblical prophet-of-doom like voices droning along on this.

Also, as in nature, and so in the markets, there are built in self fixing mechanisms in place.
A restraining influence during a stage of strong growth is quickly brushed aside through these fixes.
Similarly, an excessive spurt is moderated.
There is nothing exceptionally inventive about figuring this out, and those who exclaim Eureka! and run about pretending to be Archimedes are mere fools and should be treated as such.

lol... ...now,now,my friend,would you be refering to a "Self Fixing Balloon" .But from the above,I am quite sure you do not "Expect a fall till 6300"either.

Can't re-iterate better than said by yourself above.

To those who wait for crashes,wait on.......A day will come when you get to say you were right.By then we would be laughing our way to the banks.

Keep em coming!
Saint

 

[avinash]

Just to keep this short, there is no need to state the obvious going into trade in the f&o expiry week.
No, increased volatility is not what Im alluding to, though very much on the cards.
Whats obvious is the fact that the market continues to kick butt, both figuratively and factually.
Kicking butt as an expression is a plain enough metaphor.
Kicking butt literally is what they are experiencing who have been whining and carping for a correction, in the media and elsewhere, rather than flowing with the obvious trend.
Saying that there will be a correction is same as saying night follows day.
Its the most ordinary and mundane aspect of the market. We dont need Biblical prophet-of-doom like voices droning along on this.

Also, as in nature, and so in the markets, there are built in self fixing mechanisms in place.
A restraining influence during a stage of strong growth is quickly brushed aside through these fixes.
Similarly, an excessive spurt is moderated.
There is nothing exceptionally inventive about figuring this out, and those who exclaim Eureka! and run about pretending to be Archimedes are mere fools and should be treated as such.

To the levels then, to the up is the line at 3281-3284-3287-3290.
Above this seems congestion at 3294-3298-3302-3306, then to 3310-3314-3318.

Supports are 3274-3270-3266-3262.
Then 3259-3256-3253-3250. This for now.

hahaha nice one Amit.....

Avinash

 

[AMITBE]

Hey Saint and Avinash...
A fool is a fool, and a fool's clone is as much a fool.
Darn right! Day in and day out, off to the bank laughing our guts out for two more asinine and comical reasons now!!

...oh...or should I go with
Know what I mean?!

 

[AMITBE]

To the levels then, to the up is the line at 3281-3284-3287-3290.
Above this seems congestion at 3294-3298-3302-3306, then to 3310-3314-3318.

Supports are 3274-3270-3266-3262.
Then 3259-3256-3253-3250. This for now.

To matters more important.
If 3322 can be taken, a move to 3326-3329 may well materialise.
There may be congestion above there, but not certain.

 

[feels_good_today]

The Not so saintly can have a go as they please, by end july we shal see who laughing all the way to the bank & who's waiting for the relief rally...lol by the I still would like to know who you so hurriedly deleted your post last night, ashamed were you... or your father figure image would go bust...

as for the chamchas - no coments please your masters you may, after all without him you wont have a clue what to do in the market (please can you say how the xyz,abc look on charts), would you... khud ki akal lagao dikhave pe na jao

PS: before any retaliation to this post its you guys who are pressing, back off or I will countinue...

First of all Sensex at 11000+, Nifty at 3300+, and the thread has more than 100 pages and nearin 1000+ posts. Congrats Amitji another teeny tiny feather on your cap.

Sorry I dont want to spoil this post but I have been followiing it without posting any comments for a long time. But Baron's comments are not so good specially chamcha stuff as it is pointed at people like us who are regular visitors to this post and this forum. All I can say to him is ofcourse time would tell but the markets will not go to 6300 levels in a single session and if they start falling we have our stoploss well placed and we will still be walking happy to our banks. It would be you who had missed an oppurtuinity by not riding the tide right now.

Anyways I dont want to go to his level so just gave a logic.

Thanks Amitji for thousands of profitable posts.