NIFTY FIFTY

[chopra]

Excellent Amit.
Your choice of words and timing is immaculate.

Just adding 2 lines by Galib:
Khat likhenge garche matlab kuchch na ho
ham to aashiq hain tumhaare naam ke

 

[AMITBE]

Excellent Amit.
Your choice of words and timing is immaculate.

Just adding 2 lines by Galib:
Khat likhenge garche matlab kuchch na ho
ham to aashiq hain tumhaare naam ke

Hi Chopra...thanks so much for the couplet by Ghalib!
It's great to find a lover of Urdu poetry, and then add Ghalib to it!!
Wah!!!
The quote from Dylan, one of the greatest anti war etc. balladeers worked instantly didn't it?!
It was quoted as lamentation addressing the carnage of the market, and then a bounc back from 2395! Dylan rules!

But then, the hope and wish for an upward climb is all we have left for now.
As Ghalib would say:
Aah ko chaahiye ik 'umr asar hone tak
Kaun jeeta hai teree zulf ke sar hone tak ?

So following that quote, I'm not writing anything more today except to say the intrinsic forces will prevail and the market will behave acordingly.

The levels:
Sustaining 2425 is the challange to begin with.
2436-2442 were proving to be insurmountable yesterday, so the next test is here.
Then on to the magic number to the up: 2453.
To the down, 2396 as on yesterday.
The other levels I had mentioned yesterday too are 2392 and 2386.
Further below are 2377-2368-2359.
Let's take it from here for now.

 

[VICKY_SEEKINGINR]

What is going on with market

 

[AMITBE]

The levels:
Sustaining 2425 is the challange to begin with.
2436-2442 were proving to be insurmountable yesterday, so the next test is here.
Then on to the magic number to the up: 2453.
To the down, 2396 as on yesterday.
The other levels I had mentioned yesterday too are 2392 and 2386.
Further below are 2377-2368-2359.
Let's take it from here for now.

For all the heady opening, there is no buying support visible from any quarter. The rally may have been partly on short coverings, but was made use of by trapped traders. So the hard sell, in a manner of speaking.
One by one all the upper levels mentioned above have been given up.
The interim supports again now: 2417-2414-2412-2406-2403.

 

[AMITBE]

The levels:
Sustaining 2425 is the challange to begin with.
2436-2442 were proving to be insurmountable yesterday, so the next test is here.
Then on to the magic number to the up: 2453.
To the down, 2396 as on yesterday.
The other levels I had mentioned yesterday too are 2392 and 2386.
Further below are 2377-2368-2359.
Let's take it from here for now.

The fall so far is arrested at 2366.50
Below 2359 mentioned above we have 2355-2350-2346 and 2340-2337.
These are valid not just for today.

 

[naga2054]

The fall so far is arrested at 2366.50
Below 2359 mentioned above we have 2355-2350-2346 and 2340-2337.
These are valid not just for today.

This is next to bloodshed amit.. ne idea where are we heading to..

A short-sighted soul
Nagzu

 

[AMITBE]

This is next to bloodshed amit.. ne idea where are we heading to..

A short-sighted soul
Nagzu

No one can tell when and where enough would indeed be enough.
Every rally is being met with selling for now.
No one can look beyond this for now.

 

[coljaspal]

No one can tell when and where enough would indeed be enough.
Every rally is being met with selling for now.
No one can look beyond this for now.

Welll said, Amit. But I'm sure that many like me would say that they've had enough of this slide now
Jaspal

 

[nkpanjiyar]

Very true Amit and Jaspal. Market knows no boundary. Every thing, TA, FA fails in panic. This is a good example of "How market behaves erratic".

 

[coljaspal]

Very true Amit and Jaspal. Market knows no boundary. Every thing, TA, FA fails in panic. This is a good example of "How market behaves erratic".

NK,
This is probably the time to get ready with one's list of what to buy when the tide starts turning. Any recommendations?
Jaspal