Nifty trend

[Capricorn]

I THINKNo U Turn before 5600 can be 5720 too to eat all short of this mnth and that of next mnth

Pt bhai aap ka RIL +ve above 988 . hourly chart.

Stiff R at 1030-1040

 

[simple_trader]

Don't worry about it , it happens to the best of us. Best thing to do is to take it in your stride and move on.

Buddy, no worry at all! It is part of the game. Thx

 

[deadbrain]

Originally Posted by praveen taneja  
I THINKNo U Turn before 5600 can be 5720 too to eat all short of this mnth and that of next mnth

Market is actually consolidating before going to touch 5300. Shorts will be the winner this expiry! :thumb:

It was saved last time by good results of Tata Motors, SBI, etc., but negative cues from all around are stronger.

 

[rajeabc]

...... but negative cues from all around are stronger.[/QUOTE]

could you please elaborate  your above line ?

What I see

 - World recovery is on the right track . May be slow 
 - Indian economy is robust and growing at a nice pace 
- Monsoon is good 

-Germanys economy grew in the second quarter at the fastest pace since the countrys reunification two decades ago, driving faster-than-forecast expansion in the 16-nation euro area.

 

[deadbrain]

What I see

- World recovery is on the right track . May be slow 
- Indian economy is robust and growing at a nice pace 
- Monsoon is good

Current news --
US stocks closed out their worst week in six with a whimper on Friday, slumping toward the close as economic data gave little reason to reverse a string of sell-offs.

The S&P 500 relinquished its hold on the 200-day moving average that had generated some positive momentum and was trading below its 50-day moving average on Friday.

The Dow Jones industrial average dropped 16.80 points, or 0.16%, to 10,303.15. The Standard & Poor's 500 Index dropped 4.36 points, or 0.40%, to 1,079.25. The Nasdaq Composite Index dropped 16.79 points, or 0.77%, to 2,173.48.


This drop in growth in China, coupled with weaker retail sales, has been adding to the global market woes. Markets, both, local and global, are very dependent on data.

The macro situation globally is still clearly not robust. For the first half of this year, we were seeing a lot of the positive data coming and there was a hope that the stimulus has worked its way through. But right now the data consumer confidence, retail sales, home sales, they have all come out negative. But again the data points can be quite volatile month-on-month. So, we have to wait and see.


NO DENYING LONG-TERM STORY IS TOO GOOD FOR INDIA, BUT IN SHORT-TERM 5000-5500 IS A STRONG RESISTANCE ZONE.

Chart patterns concur that downtrend is due.

 

[praveen taneja]

Originally Posted by praveen taneja  
I THINKNo U Turn before 5600 can be 5720 too to eat all short of this mnth and that of next mnth

Market is actually consolidating before going to touch 5300. Shorts will be the winner this expiry! :thumb:

It was saved last time by good results of Tata Motors, SBI, etc., but negative cues from all around are stronger.

Pls dont see what mkt and operator want u to see watch what mkt is not showing:thumb:

 

[Capricorn]

5440-5460-5480 is the congestion zone. Beyond 5480 its 5530 and 5570. below 5440 we see 5380 and 5350

 

[deadbrain]

Pls dont see what mkt and operator want u to see watch what mkt is not showing

I just checked moneycontrol site and what I have come out with is there are over 2 lakh more open interests in Nifty 5300 Put than 5600 calls.

I think this data also suggests more bearishness than bullishness.

Correct me if I am wrong. Thanx

 

[rajeabc]

Pls dont see what mkt and operator want u to see watch what mkt is not showing

I just checked moneycontrol site and what I have come out with is there are over 2 lakh more open interests in Nifty 5300 Put than 5600 calls.

I think this data also suggests more bearishness than bullishness.

Correct me if I am wrong. Thanx

If the Put call ratio rises then there is hope of higher prices in the near future.



Please correct me if I am wrong. I am learning this concept

 

[Capricorn]

Actuall all that tells us is that that there are more put writers @ 5300 than call writers @5600. Which way the markets swing is entirely a different matter. :lol: