NIFTY FIFTY
- Thread starter AMITBE
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Hello everybody,
Hoooooo!!! Today was also a rollercosta --day--NIFTY spot crossed 2500+----though ended at 2492.65-----NIFTY--NOV--FUT going to a high of 2496----2485.45---
Tomorrow---will it be----2525
--or 2475(-)---- ----
Hello Amit----What I meant to say----the 1st 15 days---and the last 15 days---for dividing the entire mth---
With a practical experience---I have found that---the 2 periods---usually belongs to the bulls and bears alternately---there has been exceptions---
I m also trying to make a detailed study----regarding---how much fluctuations really occurs---extensions and retracements------the variation of the pullbacks--in these 2 periods---the nature of put--call ratios(of the NIFTY options)---lets see if a broader picture can come out--will take time---
Hope u look through it too-----
Contradictory views r whole heartedly welcome from everybody----
Regards,
joy_mitali
Hoooooo!!! Today was also a rollercosta --day--NIFTY spot crossed 2500+----though ended at 2492.65-----NIFTY--NOV--FUT going to a high of 2496----2485.45---
Tomorrow---will it be----2525
--or 2475(-)---- ----Hello Amit----What I meant to say----the 1st 15 days---and the last 15 days---for dividing the entire mth---
With a practical experience---I have found that---the 2 periods---usually belongs to the bulls and bears alternately---there has been exceptions---
I m also trying to make a detailed study----regarding---how much fluctuations really occurs---extensions and retracements------the variation of the pullbacks--in these 2 periods---the nature of put--call ratios(of the NIFTY options)---lets see if a broader picture can come out--will take time---
Hope u look through it too-----
Contradictory views r whole heartedly welcome from everybody----
Regards,
joy_mitali
Hello Darsh..will get back with a proper reply later tonight after checking the numbers, but on the face of it the close was good tonight. Should the Nifty cross 2498 and 2507 early tomorrow with better buying volume, 2525-2530 could be the possible range where a short may be considered, with s/l at 2536.
The one factor that may go against a possible rise tomorrow is that it would be the fifth day of this rally and profit taking may come in at some higher level tomorrow.
But no, all this is off the top of my head and would post again later tonight.
The one factor that may go against a possible rise tomorrow is that it would be the fifth day of this rally and profit taking may come in at some higher level tomorrow.
But no, all this is off the top of my head and would post again later tonight.
It's the fifth day into the rally, and the nerves must certainly be rubbing thin. The sharp reaction at about 2503 yesterday gives a clue of this.
Add to this the dip in the US markets, and we are about to begin on a shaky note.
And then technically 2503-2525 has tested the Nifty in the recent past and would be seen as an area where the players will run for cover at any sign of weakness, and the shorters will begin to get active. This bunch has been hurt in the last five days and seeing thier opportunity now, will bring pressure at higher levels.
Any rise above 2500 should be viewed with caution, and made use of to exit doubtful positions, and even winning ones. A lot of scrips have shot up in the last few sessions and may well falter at these levels. Exiting them at any sign of weakness to re-enter later at lower levels, provided the trend is still strong, should be the proper play.
Even so, I would hesitate to go short right off the cuff. There has been reasonably good buying from FIIs and the domestic funds, and a good build up of long positions has taken place.
If we can take 2525 and close above, it would be a remarkable show of strength, and may be also seen as an early sign of the onwards march of the earlier uptrend.
For the immediate levels, 2498-2503-2507 and 2512 are the first goals to sustain. Should we get that far, 2525-2530 would be possible even if only as an intraday high.
To the down, 2485 is the primary support, and should this fail, below 2480 and 2477 the fall may be deeper where 2455-2465 area has stood well in the past.
Add to this the dip in the US markets, and we are about to begin on a shaky note.
And then technically 2503-2525 has tested the Nifty in the recent past and would be seen as an area where the players will run for cover at any sign of weakness, and the shorters will begin to get active. This bunch has been hurt in the last five days and seeing thier opportunity now, will bring pressure at higher levels.
Any rise above 2500 should be viewed with caution, and made use of to exit doubtful positions, and even winning ones. A lot of scrips have shot up in the last few sessions and may well falter at these levels. Exiting them at any sign of weakness to re-enter later at lower levels, provided the trend is still strong, should be the proper play.
Even so, I would hesitate to go short right off the cuff. There has been reasonably good buying from FIIs and the domestic funds, and a good build up of long positions has taken place.
If we can take 2525 and close above, it would be a remarkable show of strength, and may be also seen as an early sign of the onwards march of the earlier uptrend.
For the immediate levels, 2498-2503-2507 and 2512 are the first goals to sustain. Should we get that far, 2525-2530 would be possible even if only as an intraday high.
To the down, 2485 is the primary support, and should this fail, below 2480 and 2477 the fall may be deeper where 2455-2465 area has stood well in the past.
Hi Amit/ Senior members,
Your thoughts on the fifth day of the rally is very interesting.
I am not sure if this post would be too much relevant here but would be interesting to get a perspective anyways.
- The financial major (DSP Merrill Lynch) mentioning in their report that India is very expensive and a strong SELL is advised for the short term. (They are bullish on the long term India story).
- A mention that India is among the most EXPENSIVE emerging markets
In a broader sense, how do you see markets behaving to such news?
Thanks,
Prakash
Your thoughts on the fifth day of the rally is very interesting.
I am not sure if this post would be too much relevant here but would be interesting to get a perspective anyways.
- The financial major (DSP Merrill Lynch) mentioning in their report that India is very expensive and a strong SELL is advised for the short term. (They are bullish on the long term India story).
- A mention that India is among the most EXPENSIVE emerging markets
In a broader sense, how do you see markets behaving to such news?
Thanks,
Prakash
Hi Adil...this volatility will persist till 2530 is descisively taken or 2450 is clearly broken. Selling pressure will prevail at the high levels with buying support at the lower end.
In the last five sessions the stakes have risen on both sides and neither will surrender easily.
A decent trading range it is for now in either direction, and better in the higher reaches for consolidation.
The levels for today are mentioned in the first post for the day.
In the last five sessions the stakes have risen on both sides and neither will surrender easily.
A decent trading range it is for now in either direction, and better in the higher reaches for consolidation.
The levels for today are mentioned in the first post for the day.
Hi Nishant, thanks very much for the appreciation...but nothing of juniors nor seniors in this.
I can do only as much as I know and learn, and that's something we all can do, juniors or seniors.
A level of alertness, much reading, and practice is all it takes.
And my thanks to all of you posting queries...makes me look at charts, and compels me to think...which I normally hate doing!
The market is appearing tired at this point and weakness creeping in.
If we can at least get back above 2492 before close, tomorrow will start cleaner.
I can do only as much as I know and learn, and that's something we all can do, juniors or seniors.
A level of alertness, much reading, and practice is all it takes.
And my thanks to all of you posting queries...makes me look at charts, and compels me to think...which I normally hate doing!
The market is appearing tired at this point and weakness creeping in.
If we can at least get back above 2492 before close, tomorrow will start cleaner.
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