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[jraj]

Hi Amit,

Excellent call made yesterday in the Chat Room,You had said Nifty is going to make a high of 3884 and retreat,made a high of 3889 today and then now this fall.Wonder where we are going to close........hopefully not below 3834 as you and tane had warned.

Anyway out of all longs,thanks to you.

Thanks,
Jay Raj

 

[amitt29]

Thank you for ur kind words and support.
There may be a spike again on Monday to 3865 odd,then pressure again to make a bottom again at 3820 odd and close low.Mustnt close below 3828,that will augur pain.

RSI has weakened considerably on 15 min,hrly,and daily.Though there is some strength in RSI on 2day,3day,5 day,and weekly.Situation is very fluid.

 

[amitt29]

Hi friends, it has been a long time since I posted here.

Looking at the action of today the market wud do well to hold at 4040(Nifty spot)it can give a good breakout from here.

Lets see how next hour pans out.

Warm regards
Amit.

 

[amitt29]

Hi,A quick update.
I wud like the markets to hold 4080 for next Nifty spot target of 4121.

Warm regards
Amit.

 

[amitt29]

So the market held out 4080 and closed above it.Whilst i do not ascribe to closing prices but the next two days being trading holidays its a sign of strength returning.Contrarions wud argue it against saying that its just short covering.

I expect markets to get to 4121 then 4144 beyond which I see the nifty trading above 4200 by Monday next week.It wud be crucial for it to hold out 4080 and 4040.It cud get quite explosive.

Best To all you people for the next two days.

 

[Saint]

So the market held out 4080 and closed above it.Whilst i do not ascribe to closing prices but the next two days being trading holidays its a sign of strength returning.Contrarions wud argue it against saying that its just short covering.

I expect markets to get to 4121 then 4144 beyond which I see the nifty trading above 4200 by Monday next week.It wud be crucial for it to hold out 4080 and 4040.It cud get quite explosive.

Best To all you people for the next two days.

Good to see you back,Amit....

Saint

 

[amitt29]

Good to see you too Sir.Pls correct me if i am wrong.I wud love to have opinion of you people in my thread.

Warm Regards
Amit.

 

[amitt29]

hi amit
most of the experts opinioning downtrend...as all asian mkts weak..wht do u think ...any change in opinion.???..dow shown strength though.

Hi,good point,somebody has to take a call.The markets are technically at their weakest after a rally(post mid April)but the way it bounced back on Monday after a 200 point fall,shows some encouraging signs.With also backed up by positive divergences on hrly indicators.As long as s/l etc are mantained i dont see any sign of trouble.Infact i am of the opinion that if it has to go up it will even mantain the close(4087)of monday and not fall below that and gap up.

Warm regards.
Amit

 

[amitt29]

Hi friends,

I wud like the market to trade consistently above 4144 and if possible close above it for more upsides and quick moves.

Warm regards
Amit

 

[amitt29]

A quick update.

Our crucial level of 4144 is violated and stop is hit,the upward journey is halted temporarily.There will be pain for the system if it starts trading and closes below 4130.Lets see how this pans out.

Warm regards
Amit