NIFTY FIFTY

[AMITBE]

Above 2505, 2507 has held out out for now. 2512 is where it's at now and this is a good support too.
Below 2500, the supports are at 2495, 2490, 2485.
The key support today is at 2472!!!

 

[AMITBE]

thanks a lot Amit i am looking at ur updates and profited ... thanks again. still i am keeping nifty PUT AT 2450. shall i keep this for tomorow? pl keep on posting

Brother...great to know someone's making profits here!
As for you puts ot 2450...perhaps not...that's too deep.
If we get anywhere near that, we'll see a Most Bloody MondaTuesdayThursdayFriday whatever.
Go steady please.

 

[AMITBE]

2501 is being tested now.
Below this we may expect another sharp dip.
But should a bounce come from these levels, it may be a neat one.
Not good on the whole.

 

[rheinu]

SEE AMIT NIFTY HAS COME DOWN TODAY 60 POINTS: WHY NOT TOMORROW ALSO?
IN A BEAR MARKET NOTHING IS IMPOSSIBLE: WHEN RELCAP WAS QUOTING 470 YESTERDAY I WAS KEEPING PUT AT 450 AND 440. TODAY GOT GOOD PROFITS:

I THINK FIIs WOULD SELL FURTHER DUE TO BAD INTERNATIONAL SITUATIONS: RISING INTEREST RATES IN US. KATHRINA;RITA, OIL PRICES, pOLITICAL UNCERTAINITY IN GERMANY EURO ZONE: ALSO FLOODS LAST MONTH IN INDIA DAMAGED A LOT: THAT WOULD REFLECT IN Q2 PROFITS OF MAJOR COMPANIES: PL TELL YOUR OPIONION

 

[AMITBE]

Hey rheinu!
Quit screaming into my ear would ya!
You may have your reasons, but the battle grounds are here and much at stake on either side.
This is just a retracement of the sharp runup of recent times.
Once it has played out it's course, things will improve, this is my take.
It's not a bearish market at all. It's very bullish in fact.
This is a correction, a healthy thing in the bull run and much expected though late.
Regards.

 

[rheinu]

I Agree With You Amit: I Sold My All Positions Tuesday Siting These Reasons: Tell Me Reentering Points For Rolta (sold 166 Early); Guj Nre(sold 156).

 

[AMITBE]

A fierce fight at 2500 levels on for now....and broken.
We are into a new psychological down orbit unless 2500 is taken again.

 

[Saint]

SEE AMIT NIFTY HAS COME DOWN TODAY 60 POINTS: WHY NOT TOMORROW ALSO?
IN A BEAR MARKET NOTHING IS IMPOSSIBLE: WHEN RELCAP WAS QUOTING 470 YESTERDAY I WAS KEEPING PUT AT 450 AND 440. TODAY GOT GOOD PROFITS:

I THINK FIIs WOULD SELL FURTHER DUE TO BAD INTERNATIONAL SITUATIONS: RISING INTEREST RATES IN US. KATHRINA;RITA, OIL PRICES, pOLITICAL UNCERTAINITY IN GERMANY EURO ZONE: ALSO FLOODS LAST MONTH IN INDIA DAMAGED A LOT: THAT WOULD REFLECT IN Q2 PROFITS OF MAJOR COMPANIES: PL TELL YOUR OPIONION

Hi Rheinu,

Great Trade on Reliance Cap.........an example of a bearish breakdown from an ascending triangle.Very Nice!

Other than all the factors mentioned above,charts wise,what is worrying is:Yesterday's move down in the DOW JONES and NASDAQ yesterday was
significant.

DOW JONES:Just broke a weekly up-trendline to the down....also a higher pivot low on the weekly.Monthly so far looks like A h&s pattern in progress.....all bearish!

NASDAQ:Also a lower pivot high on the weekly......also broke a weekly trendline yesterday.Monthly looks like a double top......all bearish!!

India on the other hand still looks very good,this being nothing more than a correction.......but wonder how India will react if the US markets start dumping!!

Saint

 

[AMITBE]

All that in the US is going on the threat from Rita heading to Texas where the major refineries are located. They have hardly done licking the wounds left behind by Katherina....and to add to it the oil crunch. I'm not too bothered by the interest rates etc.
No wonder then that the techs are freaking out.
But closer to home, it's simple human nature to put the nose close to the ground and fight it out when such huge amounts of money is threatened.
I feel past today, the shap sense of panic would recede and the market would become more reasoning. Not to say that we would begin to zoom again, but the panic should calm down.

 

[rheinu]

thanks Saint. Your points are right. But sitting in Europe,here we follow Dow and Nasdaq and European Markets are dancing to the tune of Dow and Nasdaq.

Also when US stocks get cheaper and interest rates rising there would be a tenedency to switch over to there from emerging markets. At least further fund flow to India will slow. AAAAAAAAAAAm I right...

welcome your opinion..