NIFTY OUTLOOK AND TRADING LEVELS FOR 24 MAY 2013 , FRY day movie

You can not blame FIIs for this haal ( fall ) yesterday they were net buyers in equities  for  Rs 316 .23 Cr and in last 4 days continue fall l they accumulated for more than 2400 Cr …. men jhooth nahin likhata ….see here  http://www.moneycontrol.com/stocks/marketstats/fii_dii_activity/index.php

The CNX Nifty lost 127.45 points, or 2.09 per cent, to close decisively below the psychological 6,000 level, at 5,967.05, while BSE’s Sensex was down 388 points, or 1.93 per cent, to slip below the 20,000 mark, at 19,674.33. Yesterday’s fall, in percentage terms, was the biggest for a day since May 8 last year.

EOD nifty chart is showing that nifty is trading at crucial level at 5960 ..we are spotting double bottom …huge volumes may be counted as selling climax also … falling stopped just  above 38 % fib retracement…  pivot point …falling trend line …1 more uptrend line …we can say cluster support is here …not very easy to break … if these this all is  true then  no FRY day effect will be there and we will see either range bound trades in 30- 40 points range 5950 6000 range or smooth recovery today…. so wait and watch  … stay online at Dhanvarsha  chatroom  for real time updates , tips and calls and promote it as a healthy platform .

 

 

Positive opening is expected  with extremely volatile session ahead..

Trade in Nifty futures as per these levels 

Buy at / above: 5990   Targets: 6009 – 6027 – 6045 – 6068
Stoploss : 5969
Sell at / below: 5969   Targets: 5948 – 5930 – 5912 – 5893
Stoploss : 5990

 

nifty was advised to sell at 6165 at dhanvarsha chatroom ..

23 May 13, 09:15 AM

admin: Trade in Nifty futures as per these levels . BUY at / above: 6103 Targets: 6120 – 6139 – 6159 – 6178 Stoploss : 6084 SELL at / below: 6084 Targets: 6067 – 6048 – 6028 – 6009 Stoploss : 6103

23 May 13, 09:42 AM

MOUNAM: Nifty SELL @ 6065-70 STOP @ 6085 TGT 6045 6025 6005

23 May 13, 11:09 AM

admin: below 6009 next levels will be 5989 5970 5951 5931 posted were …..SELL at / below: 6084 Targets: 6067 – 6048 – 6028 – 6009 Stoploss : 6103

 

 

 

perfect sell call by johney at  market open

23 May 13, 09:22 AM

johnny: CANBK SPOT - SHORT BELOW 434 SL ABOVE 438.10 TGT 431/427

bang on all targets

 

Writing about “The Selling Climax” in Technical Analysis Of Stock Trends, authors Robert Edwards and John Magee observe that:

Most true Selling Climaxes, if not all, have been produced by distress selling … They have come at the end of rapid and comprehensive declines which exhausted the margin reserves of many speculators and necessitated the dumping of their shares at whatever the market would bring. This process is progressive — feeding upon itself, so to speak — with each wave of forced sales jeopardizing another lot of margined accounts, until at last millions of shares are tossed overboard, willy-nilly, in a final cleanup.

Bad? Good? Indifferent? For Edwards and Magee, it depends on where you stand as a trader.

Such is a Selling Climax in which the total turnover may exceed any single day’s volume during the previous upswing. It is a harvest time for traders who, having avoided the bullish infection at the top of the market, have funds in reserve to pick up stocks available at panic prices

To read more about selling climax 

 

 

NIFTY OUTLOOK AND TRADING LEVELS FOR 24 MAY 2013 , FRY day movie