Saturday, September 22, 2012

Nifty may consolidate or will move towards 5550 if remained in channel

Gopal (9/23/2012 7:50:52 PM): series of macd crossovers (9/23/2012 7:51:12 PM): where
Gopal (9/23/2012 7:52:28 PM): i usually follow rsi, and macd crossover with histogram (9/23/2012 7:52:53 PM): u follow gann dates too
Gopal (9/23/2012 7:52:56 PM): alongwith adx
Gopal (9/23/2012 7:53:11 PM): of course yes
Gopal (9/23/2012 7:53:54 PM): During gann dates when either it makes a bottom or top to be taken into account (9/23/2012 7:54:23 PM): and 21 to 24 sept are dates as per u
Gopal (9/23/2012 7:55:27 PM): yes either it should have made a short term top on 21st or it will attempt on 24th also
Gopal (9/23/2012 7:57:03 PM): as the mkt rallied furiously on 21st and made a new high of the year i feel the possibility of correction (9/23/2012 7:58:21 PM): how it will correct if supply will not come at 5700 level ?
Gopal (9/23/2012 7:58:37 PM): . then atleast a day of correction is the minimum requirement
Gopal (9/23/2012 8:00:38 PM): whether supply comes because people book profits or some unwinding longs or some one sells is to be seen
Gopal (9/23/2012 8:02:04 PM): or because of lack of buying conviction from bullside this may happen
Gopal (9/23/2012 8:05:52 PM): correct thing is before 21 - 24th if mkt makes a good rally and makes a high even around 21-24 then it could be a top --on the other if mkt declines sharply and tries to make a bottom ard 2124th then reversal possible (9/23/2012 8:06:32 PM): 24 is tomorrow (9/23/2012 8:07:01 PM): so only top u can expect as per gann (9/23/2012 8:07:29 PM): bottom is not possible tomorrow
Gopal (9/23/2012 8:07:37 PM): in this case mkt rallied made a new high on 21st and it has to be seen whether mkt makes a another new high on 24th or corrects
Gopal (9/23/2012 8:12:22 PM): yes on the gann dates both is possible but in nifty/sensex case 21st is a higher bottom and a new high so topping is the most probable thing on (9/23/2012 8:13:58 PM): technically no cue in support of bears at present
Gopal (9/23/2012 8:26:07 PM): yes at present except the gann dates and some signals as told by you un oi position there is nothing in support of bears
Gopal (9/23/2012 9:04:01 PM): one small technical cue for bears--on feb 17 th high was 5708 yesterday did not closed above but crossed made an high 5735and came down . macd then was 151 now was 93 rsi then was 92 now was 75 is it not -ve divergence not enough (9/23/2012 9:04:47 PM): yes solid cue
Gopal (9/23/2012 9:05:06 PM): these are subtle signals (9/23/2012 9:05:14 PM): but trigger is required (9/23/2012 9:05:33 PM): which was given by sgx (9/23/2012 9:05:46 PM): closed below 23 points
Nifty 3 year weekly chart ....closed at crucial level..

These stocks are trading at over bought zone and go short  when ever  market seems weak

Nifty is trading and closed at top of up trending channel at 3 years weekly chart next fib resistance is at 5953 and fib support is at 5436
as per above chart nifty may consolidate  at 5700 if channel wont break ..
Nifty open interest added for  Oct contracts

Definition of 'Climax'

A market condition that is characterized by very high trading volume and a dramatic downward or upward movement in price. High volume and downward price movement indicate a selling climax, while high volume and upward price movement indicate a buying climax. Either type of climax signals the end of a trend.

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Up trending channel top on daily top ...if  channel wont break nifty will  retrace to 5600  5550..
Market moved up due to short covering in  these scrips
Daily nifty chart is showing that nifty has been closed out side of channel (9/21/2012 9:10:50 AM): nifty settled to open at 5577 up 22 .75 or 0.41 % (9/21/2012 9:26:32 AM): sell nifty at 5620 and below sl 5643 (9/21/2012 9:36:52 AM): cover nifty short at 5633 35 (9/21/2012 9:40:34 AM): positive surprise then huge sell off can not be ruled (9/21/2012 9:48:47 AM): Nifty tried to kiss 17 Sept high... but failed in this attempt for Double top pattern if new high wont be there bulls will be back to pavilion (9/21/2012 10:19:12 AM): at 5630 -5635 range trading started ...upward momentum is over ,,will wait and watch for next move 5635 now at spot (9/21/2012 10:35:41 AM): still 10 point below from 17 Sept high ..5641 now (9/21/2012 10:39:02 AM): Agency: PTI The BSE benchmark Sensex on Friday recovered by almost 149 points in early trade on buying by funds and retail investors after the government notified its decision to allow FDI in the multi-brand retail sector. (9/21/2012 10:54:15 AM): Candle sticks reading is always good ..but its 10 % failure gives pain too ... (9/21/2012 11:21:46 AM): buy sesa 180 pe at 5.30 5.50 sl 3.30 tgt 8 11 15 (9/21/2012 11:27:56 AM): below 5650 futures .... nifty may see 5600 or below by evening (9/21/2012 11:37:10 AM): buy 5700 pe above 71.10 only sl 64.45 tgt 80 90 99 115 intra trade with sl reenter above 68 if sl triggers (9/21/2012 12:02:10 PM): 5700 pe call not triggered till now ... now entry level is 67.10 trading at 58 (9/21/2012 12:39:43 PM): 5700 pe is gud to buy above 56 now with sl of 43 (9/21/2012 12:46:15 PM): spotted shooting star candle at 15 min chart ....will it work (9/21/2012 12:47:44 PM): spotted shooting star candle at 15 min chart ....will it work futures 5705 now risk lovers may initiate short at 5710 level with sl (9/21/2012 1:10:01 PM): sell nifty at 5694 sl 5721 tgt 5670 5653 5635 (9/21/2012 1:45:25 PM): Nifty is trading below shooting star since last 1 Hr LTP is 5701 (9/21/2012 2:22:11 PM): Shooting star at Nifty 15 Min Chart...see here (9/21/2012 2:51:34 PM): once again bearish engulfing candle at 15 min nifty futures chart at 5714 ...will crack again for 20 plus poits (9/21/2012 3:16:18 PM): sell jpassociat for intra with sl at 83.10 futurs are at 82.35 tgt 81.60 81.10 (9/21/2012 3:32:41 PM): market closed (9/21/2012 4:46:53 PM): in India gold n silver are falling but in US raising why ? (9/21/2012 5:28:46 PM): buy natural gas at 150.60 150.90 sl 148.90 tgt 151.90 152.80 153.90 (9/21/2012 5:49:44 PM): gas 1st tgt done 151.90 traded (9/21/2012 7:22:12 PM): all targets done... call was (9/21/2012 5:36:36 PM): buy natural gas at 150.60 150.90 sl 148.90 tgt 151.90 152.80 153.90

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