Nifty trend

[jagankris]

:lol: 5100-5200 levels???? Please tell me that was a typo!

There are people who believe that Nifty is going to touch 4700 levels again.
They showed me MACD divergence/RSI divergence/Momentum divergence etc etc etc.
Assumptions are the worst enemy for a trader/investor.
Let us be prepared for 4700 and 6700.
Anything is possible

 

[jagankris]

Dear Capricon,

I am not a positional trader and relatively new to TA school but with markets since 2004.

In a bull run it is quiet natural for the markets to correct,take some rest at the MA or some levels and resume again.

Every 4 months Nifty usually show a dip.

In the technical charts in all the time frames NF is a sell except monthly I guess.After any correction all the technical indicators will indicate a sell.

So naturally a person following Technicals should roll over his positions in the short side.

This being a critical level how one should trade here.

Wait for a clear direction or roll over on the short side ?

Note:- Last time when markets corrected to 4700 levels lot of people claimed Nifty will fill the gap at 3600 levels.
But markets never gave opportunity again.

Thanks in advance.

Best Regards,
JK

 

[saddaum]

Guys nifty started to moving up from 4800 to 6300
its approx 1500 pts
we are just seeing some profit booking

 

[praveen taneja]

Guys nifty started to moving up from 4800 to 6300
its approx 1500 pts
we are just seeing some profit booking

It is not profit booking its well thought plan they are selling delivery and when stock fall they buy future or options so cash in hand for other stock and they switch to some other stock which is underperforming so keep eye on stocks which have not ran with mkt so far

Mera Lambi race ka ghoda RIL and Fortis

 

[Capricorn]

Dear Capricon,

I am not a positional trader and relatively new to TA school but with markets since 2004.

In a bull run it is quiet natural for the markets to correct,take some rest at the MA or some levels and resume again.

Every 4 months Nifty usually show a dip.

In the technical charts in all the time frames NF is a sell except monthly I guess.After any correction all the technical indicators will indicate a sell.

So naturally a person following Technicals should roll over his positions in the short side.

This being a critical level how one should trade here.

Wait for a clear direction or roll over on the short side ?

Note:- Last time when markets corrected to 4700 levels lot of people claimed Nifty will fill the gap at 3600 levels.
But markets never gave opportunity again.

Thanks in advance.

Best Regards,
JK

HI Jagankris,

Pls don't get confused with the monthly chart posted above.

Short term direction is clearly down and the trading levels are posted everyday as far as possible.

The chart above suggests support at 5100-5200 and thats where I would look to buy IF we get there. Thats how things look now , but as u know the markets are dynamic and change everyday. We will alter our strategy accordingly.

Don't worry too much about it friend.

 

[Capricorn]

New week and a monthly close coming up..

Bias down

S @ 5750 , congestion ..5600-5650

R @ 5810 , 5880

Trade well folks.

 

[Capricorn]

Watch the T/l on the 60 min

 

[saivenkat]

Caps bro,

If the existing trend line does not break then there should be profit booking around 5882 levels, and the next down move should take it to 5635 levels, the lower TL support.

-saivenkat

 

[Capricorn]

:clapping: Your getting better and better...

 

[josh1]

Caps bro,

If the existing trend line does not break then there should be profit booking around 5882 levels, and the next down move should take it to 5635 levels, the lower TL support.

Good one. Where do you get that chart from? I am looking for something like that. Please share.