NIFTY FIFTY

[AMITBE]

2507 was the level suggested in the first post this morning and exactly here where the rush at the opening was halted. This is a magic number today. We need to get above this and stay there.
For now, two sticky levels are 2494 and 2499. This is where we are sticking.
The pullback to 2487 now and perhaps a push from here may retest these levels again.

 

[AMITBE]

From testing 2501 at a pull back, the NIFTY is starting to make lower tops and bottoms.
Has just breached the early support at 2478...trading at 2471 and dipping.
2463 is the support below here.

 

[AMITBE]

From testing 2501 at a pull back, the NIFTY is starting to make lower tops and bottoms.
Has just breached the early support at 2478...trading at 2471 and dipping.
2463 is the support below here.

2459 was just tested.
2456 is the support below here.
Then further, 2445-2440-2436.

 

[AMITBE]

2459 was just tested.
2456 is the support below here.
Then further, 2445-2440-2436.

Some stablity for a while now.
There was an inverse h&s earlier at 2471 from where the bounce to 2479 came some time ago.
Now we need to clear this 2471-2473 level for further pullback.
2460-2470 has been the range for now...and a good thing in the short run.

 

[AMITBE]

Some stablity for a while now.
There was an inverse h&s earlier at 2471 from where the bounce to 2479 came some time ago.
Now we need to clear this 2471-2473 level for further pullback.
2460-2470 has been the range for now...and a good thing in the short run.

2479 has been the support where the first fall was arrested and a later rally halted.
Above this we are starting to look half way decent again.

 

[chopra]

Thanks AMIT for all the great support provided by you.
You are maintaining this great thread, I could not add much to this but I really appreciate your generous service which helps lot of the new players like me to learn and understand the intricacies of the market.
I always feel that every fall in life teaches us something new so this plunge is also definitely going to be a good learning experience.
Haven't brought or sold anything in the last 3 days.

I am also following advice of you seniors and just sitting tight and taking note of the things.
Waiting for this wave to go away before fluttering the wings to fly again.

Warm Regards,
Ashish

 

[AMITBE]

2479 has been the support where the first fall was arrested and a later rally halted.
Above this we are starting to look half way decent again.

Another h&s had formed even earlier at 2486.
Now this is the level to retake...and things may get better still.

 

[AMITBE]

Another h&s had formed even earlier at 2486.
Now this is the level to retake...and things may get better still.

A nasty looking double top had formed very recently at 2486...which did not materialise fully.
Now we are headed back there again...Triple Top...or a break through this time..?

 

[AMITBE]

A nasty looking double top had formed very recently at 2486...which did not materialise fully.
Now we are headed back there again...Triple Top...or a break through this time..?

There was a break through but not sustained.
In the short run, 2470-2473 are supports.
The a/d ratio has improved considerably, and a palpable improvement in the market sentiment if this pullbak goes further.

 

[madhura]

Another h&s had formed even earlier at 2486.
Now this is the level to retake...and things may get better still...
this is what u have posted just now...
what is meaning of H&S?
i think nifty hovering around at 2486 levels...it is heading towards 2472 again?

thanks
Madhura