Nifty technicals

[findvikas]

out of long... converted into full bear

 

[findvikas]

if it does not break 5020 this time.. then I will go long.

 

[MurAtt]

if it does not break 5020 this time.. then I will go long.

Held .. so expect higher highs if it holds 5011 now .. i.e. last low (almost 5011) actual 5008 ...

 

[findvikas]

and I am long since 5023... but things are not looking good to me.. who knows.. I am not positional.

 

[trade4putuval]

and I am long since 5023... but things are not looking good to me.. who knows.. I am not positional.

Hi Vikas,

For me, it looks like evening star candle stick pattern on 30 minute chart on google finance. Is that why you feel that market is poised for downturn?

Rajiv

 

[findvikas]

I am looking at my 'Nifty Technical' or what I name it as 'Trading Bars' system which is giving me positional sell below 5108.55... its sell signal on all charts... 2min, 5min, 15min, 60min

MINIFTY OI decreased from 6% to -0.12 since morning... NIFTY OI down from over 9% to just 5.95%.. it cant be happening that we going to 5200.. not now when you have storms around... if it was then it would have had happened 1 month back when sentiments were good..

 

[findvikas]

yeah you are right... it looks like evening star too... that could take us for another dip below 5000.. but not today for sure.

 

[findvikas]

huge selling in last half hour...

 

[MurAtt]

I am out .. no positions overnite ....

 

[findvikas]

Technical for 01/12/2009

LTP: 5032
Trend: Down
Stop Loss / Reversal (Close Above): 5108.15

Previous trend: Down (Started on 26/11/2009 below 5103.55)
Total points in the trend: 71