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[SGM]

Hello Amit,

Yet again and again, we will see these spikes in early/mid/end sessions to

to kill all weaker and new shorts

Its not called Slow Poisioning for Nothing!
Regards
Sanjay

 

[amitt29]

Hi,
Quick update
If it breaks 2918 it will be more pain in store.

 

[kuldeep49]

Hi,
Quick update
If it breaks 2918 it will be more pain in store.

Amit,
Attached the daily nifty chart from 1st June till date. I have drawn (don't mind how it looks!) the double top that is clear so reversal was on cards. So where does it end?
Regards
Kuldeep

 

[amitt29]

Hi Kuldeep,
I dont delve into this form of ta maybe someone else may help.
For immediate levels
I wud look at 2944-2967-2976-2995 on the up
and for the downtrend it has to break 2919 to test lower levels at 2896-2870-2856.
Lets c.
Its goin to be an interesting session.The weaker shorts may be killed again.
The rally in the Dow may provide an impetus to sentiments.But i think the buying may again see some rigorous selling.
Pretty interesting 2 days coming up.
Regards
Amit.

 

[amitt29]

Hi,
Interesting session,the gapup killed all new shorts and also taking care of the levels that i had mentioned.
It simply refused though to go above yesterdays high of 3045.Also todays close is very interesting,a slip cud cause pain.
On the up the Nifty has to take out 3041-3045-3049 then if it can hold it can be expected to go up by 3056-3062
Now it can force old shorts to play their hand,it cud get very interesting.
Regards
Amit.

 

[SGM]

Hello,

Stops for shorts are so close by that on even a small Gap Up not only the stops will be trigger but many will find their stops Jumped!

But first the other markets have to show their hand. We will follow....

Regards
Sanjay

 

[amitt29]

Hi,Sanjay
Agree with u,but not only new shorts will be killed,whoever came in late whether shorts or longs will be decimated.Bear market rallies are equally ravaging as we have seen,thus far.
Regards
Amit

 

[Trader123]

Hello,

Stops for shorts are so close by that on even a small Gap Up not only the stops will be trigger but many will find their stops Jumped!

But first the other markets have to show their hand. We will follow....

Regards
Sanjay

How about stop getting triggered on the gap up and then markets slide down again .. and tumble in the last hour..!! That would be awesome... haha

 

[SGM]

How about stop getting triggered on the gap up and then markets slide down again .. and tumble in the last hour..!! That would be awesome... haha

Never expect the Expected!

Happy Trading

 

[amitt29]

Hi,
really interesting session.As was noted the old shorts played their hand as well as the odd lotters who got in yesterday.Also all along the day it kept in a tight band to squeeze out any new participants.Not for weak hearted and weak hands,this market.

Good Weekend ahead,so enjoy the rains.
Best to your Weekend.
Regards
Amit