Nifty Key levels for day traders

[AlokTewari]

Re: Nifty

I think NF made high of 5309.90 on 6th Jan & today also same high so we have double top now. Unless 5310 is broken good to be on short side now I guess.

Cheers !!!

Alok Tewari

 

[itprodeepak]

Re: Nifty

I think NF made high of 5309.90 on 6th Jan & today also same high so we have double top now. Unless 5310 is broken good to be on short side now I guess.

Cheers !!!

Alok Tewari

Dear Alok,

Nifty Futures Made high of 5303.25 on 06-Jan-2010 and today it made high 5309.90 which is a higher high. As per my knowledge, Double top is where the second high is lower then the first high. So, I doubt if it is a double top or not.....

Seniors/Experts, please throw some light on this point


Double Top Formation Components :

1. First High: Bulls push prices upwards making new highs; however, these new highs are short lived and prices retreat.

2. Second High: Prices don't retreat for long because bulls make another run, making a similar high. Nevertheless, this is bearish, because bulls were unable to push prices higher; bears held their ground at the previous high level. The bears push prices back to support (Confirmation line); this is a pivotal moment - either bulls will make another push higher or bears will take control and push prices even lower, more than likely taking over for good.

Image For Reference of a Sample Double Top :

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[simple_trader]

My sense, this would be a bigger rally may be 5500-5600 on the card in next two series.

First move would be taking 5400-5420 around.

Though market changes faster than that we can think.

happy trading!

regards

 

[rajputz]

My sense, this would be a bigger rally may be 5500-5600 on the card in next two series.

First move would be taking 5400-5420 around.

Though market changes faster than that we can think.

happy trading!

regards

:hat: hats off it happens...i am my self bullish at the correct scenerio...but todays weakness is puzzling...market is not sustaining above 5300...untill it closes above that, huge fall is expected...

 

[trader.trends]

LIC had announced that they will be buying 6000cr in the mkt before 31 March. This was announced day before yesterday. That would mean they would be buying 1500cr per day. That is great buying by DIIs who have been on the sidelines. My expectation is that mkt will be up until the end of the month with minor if any fall during intraday unless global cues let us down. The buying climax should occur by 31 March.

 

[columbus]

Market has moved rather vertically off late.

http://www.traderji.com/day-trading/27421-bollingerbands.html#post422241

 

[AlokTewari]

LIC had announced that they will be buying 6000cr in the mkt before 31 March. This was announced day before yesterday. That would mean they would be buying 1500cr per day. That is great buying by DIIs who have been on the sidelines. My expectation is that mkt will be up until the end of the month with minor if any fall during intraday unless global cues let us down. The buying climax should occur by 31 March.

Well 31st March comes every year. MF's try their best to window dress NAVs. Sometimes they succeed sometimes they don't if global situation is not supportive. U.S.markets are not sustaining at highs & yesterday's fall was with big volume. Today also it is not holding to early gains. A correction is on the cards.

Have a nice weekend. Cheers !!!

Alok Tewari

 

[simple_trader]

:hat: hats off it happens...i am my self bullish at the correct scenerio...but todays weakness is puzzling...market is not sustaining above 5300...untill it closes above that, huge fall is expected...

Friday's trades are mostly profit booking. So some dip happens on weekly close.

The bigger picture in weekly chart, is either market stays in the band of 4680-5330 (may get narrower further), or we break out above 5300 and expand the range.

I feel chances are more that we would breakout above 5300 and possibly move to 5600+. I think RIL, it can move up more and take up market along.

 

[smpsd]

for those who think 5500 on cards here is shocker from dow on daily chart
see candle on 25th mar which is called gravestone doji on top.I think world market is going to correct 5 to 10%(due to europe and commodities issue).My first tareget is 4930 on nifty this month before any further setting for upmove
will buy 4900 put which trading at only 19.05

chart
http://stockcharts.com/h-sc/ui?c=$INDU,uu[h,a]daclyyay[pb50!b200!f][vc60][iue12,26,9!lc20]

artcle
http://finance.yahoo.com/banking-bu...zcGVjaWFsRmVhdHVyZXMEc2xrA2lzdGhlbWFya2V0dA--

 

[varun2504]

For Nifty --> http://stockcharts.com/h-sc/ui?s=$CNXN