NIFTY FIFTY

[chachi]

Hi Rajesh,

How are you now? Hope you have recovered. Get well soon.

Regards
Chachi

 

[AMITBE]

hai amitbe, i heard that volume today was the lowest in 2006.hence can we take the nifty levels today into consideration, when infering any view, as it is same as Gap up/down? please advice.
bye
ravi

Hi ravi...absolutely yes...no matter the low volume, we must take the moves into consideration.
Volume is the single most important indicator.
For today, on 5 or 10 or 15 or 20 min bars, the Nifty Futs have come up on diminishing volume, if that's any indication...and with widening discount gap.

They say it's the Bombay rains keeping the volume out...which I don't go with.
It's not the 'Aam Aadmi' commuting on buses or local trains that gives the Nifty Futs its volume with a lot or two here and there. It's the big guys who give the volume punch.

One should also note that since the May fall volumes generally have been low, but even so, reaching crucial levels in this pullback, falling volumes is not a comforting sign.

The best hope is a meandering consolidation with minimum volatility for bottom building, perhaps lower from current levels.
The worst case is another round of slam dunk...but what's so new about that.

A couple of important levels were mentioned in the recent posts at 3177-3192 where the action has been for some time now.
Should the Nifty venture to close above this, the major reality test will come at 3237 zone.

 

[srisara]

there is an intense fight at 3180 levels. The key is it should hold 3170 to move forward.
Once we clear 3180-3190, then expect the play to shift to 3200 levels.

Significant of those shall be 3205,3226 and finally 3250,3252.

It could be too early to say, but I do believe if 3180 holds and the next move is going to be taking out 3200, then we can see significant volumes coming to market.

The Major Resistance for NIFTY shall be around 3250 levels (+/- 10). This is where the Slump or downtrend started and took the NIFTY to 2595 levels.

I am just making an attempt to read, what I have learnt and still learning.

feel free to comment.

Also, to note, I dont see much bad news around as they tell.

Satya

 

[srisara]

With Nifty getting support at 3170 and bouncing back, lets hope it stay above 3180+ and may be it may give a shot to clear 3200.

currently at 3199 now..
Satya

 

[srisara]

voila kissed 3201

 

[srisara]

Any negative news from the international markets, provide an oppurtunity for the Big Guys and Operators who entered recently at lower levels to go for Profit Booking.

All was well till yesterday and the sudden fall in U.S markets triggered a minor fall in ours too.

Its again extremely important to hold 3170 as suggested. Also, with 3200 not taken today, NIFTY on a daily chart terminates its Higher High Pivot and Lower High Pivots. This could be very intresting aspect. So a minor pull back is on the cards?

Not many levels have been visited by NIFTY from the Jump it took from 3000 levels.
With the Pole Standing Tall and the Flag flying High, I do expect some pullback.

levels to watch on lower side is 3162,3157,3126.

On the higher side it should clear 3200 again to resume the uptrend.

Satya
P.S: Please donot take this as a trading call.

A Note to Members,

As we all know Amit has taken a temporary break? from this thread. I do expect such a thing has to come, since it's been long time he is waging this battle alone.

Also, what I found intresting is that, he quit not that he is dejected but he wants genuinly for others to become active and contribute. I really liked his challenge. It is tough to match a personality like Amitab Bachan ( nee Amit). But, not attempt should be left unturned in our quest to keep the thread alive.

I am trying to venture into this, but know the difficulties and challenges. It's not going to be easy, but still would like to give it a try.I request others also to be active in this thread.

We shouln't allow the thread to die and the mantle has to be passed to the right person.

Everyone has a chance to claim the mantle. Its time to test your skills and knowledge.

I wish Best of Luck to All.

I welcome all comments, criticism on my analysis.
Satya

 

[shrinivas]

Hi ravi...absolutely yes...no matter the low volume, we must take the moves into consideration.
Volume is the single most important indicator.
For today, on 5 or 10 or 15 or 20 min bars, the Nifty Futs have come up on diminishing volume, if that's any indication...and with widening discount gap.

They say it's the Bombay rains keeping the volume out...which I don't go with.
It's not the 'Aam Aadmi' commuting on buses or local trains that gives the Nifty Futs its volume with a lot or two here and there. It's the big guys who give the volume punch.

One should also note that since the May fall volumes generally have been low, but even so, reaching crucial levels in this pullback, falling volumes is not a comforting sign.

The best hope is a meandering consolidation with minimum volatility for bottom building, perhaps lower from current levels.
The worst case is another round of slam dunk...but what's so new about that.

A couple of important levels were mentioned in the recent posts at 3177-3192 where the action has been for some time now.
Should the Nifty venture to close above this, the major reality test will come at 3237 zone.

volume low everywhere..not only at bse...

ganeshhity

 

[gobatman2001]

Hi! amitbe,

In one of your posts, you had mentioned : "Keep July 10 and 19 in your notes as dates when some significant turns may likely come in the markets."

I would be grateful if you could please tell me what do you expect on both those dates. Please do reply ...

Thanks & regards,
Amit

 

[AMITBE]

....
A Note to Members,

As we all know Amit has taken a temporary break? from this thread. I do expect such a thing has to come, since it's been long time he is waging this battle alone.

Also, what I found intresting is that, he quit not that he is dejected but he wants genuinly for others to become active and contribute. I really liked his challenge. It is tough to match a personality like Amitab Bachan ( nee Amit).

Gosh Satya!! Really now!!!

But, not attempt should be left unturned in our quest to keep the thread alive.

I am trying to venture into this, but know the difficulties and challenges. It's not going to be easy, but still would like to give it a try.I request others also to be active in this thread.

We shouln't allow the thread to die and the mantle has to be passed to the right person.

Everyone has a chance to claim the mantle. Its time to test your skills and knowledge.

I wish Best of Luck to All.

I welcome all comments, criticism on my analysis.
Satya

Dear friend, many thanks for your words, but the truth is there is no mantle to pass...and perhaps there is no 'right person', as there are so many able members here including your good self.
As for skills and knowledge, these come with experience, observation and application.
Satya, I'd suggest you start a new thread on the Nifty and build it up over a period of time with your own style of analysis.
Seek your place under the sun, and go from strength to strangth.

This thread perhaps has a lot of my own baggage to cope with.

All the best Satya.

 

[srisara]

Gosh Satya!! Really now!!!





Dear friend, many thanks for your words, but the truth is there is no mantle to pass...and perhaps there is no 'right person', as there are so many able members here including your good self.
As for skills and knowledge, these come with experience, observation and application.
Satya, I'd suggest you start a new thread on the Nifty and build it up over a period of time with your own style of analysis.
Seek your place under the sun, and go from strength to strangth.

This thread perhaps has a lot of my own baggage to cope with.

All the best Satya.

I do honour your words Amit.

Satya