NIFTY FIFTY
- Thread starter AMITBE
- Start date
- Status
This week should really unveil finally where things are heading with the Nifty.
We are up again at an important and difficult mark where lies the real proof of its resilience, for in the previous rally it had reacted sharply and turned around from 2575 levels to rest at 2475 levels. The difference, if we should be looking for one, is then these were new historical high grounds. In this attempt these would be revisited with the memory of hurt and pain: High peaks have never been known to yield without extracting their due. Have the dues been paid? In pain, yes. So then there is another potential pay-off here: In exchange for pain one learns to respect what causes the pain, and with this giving of respect, one earns wisdom.
The wisdom here is consolidation.
Neither was there consolidation at the higher levels in the past, nor was there consolidation at the lower levels following the crash. It's just been one rollercoaster ride so far. One hopes that, yet again as we approach the highs, we take some time to rest and consolidate and not rush in desperately. The pay-off for the pain would then be complete, and the onwards march easier to accomplish.
Rather philosophical to an extent, but true nevertheless.
The levels to be careful at are first at 2555-2557. Further up 2565-2575 region may test the climb.
Down below there is support at 2530 and 2512 to begin with.
We are up again at an important and difficult mark where lies the real proof of its resilience, for in the previous rally it had reacted sharply and turned around from 2575 levels to rest at 2475 levels. The difference, if we should be looking for one, is then these were new historical high grounds. In this attempt these would be revisited with the memory of hurt and pain: High peaks have never been known to yield without extracting their due. Have the dues been paid? In pain, yes. So then there is another potential pay-off here: In exchange for pain one learns to respect what causes the pain, and with this giving of respect, one earns wisdom.
The wisdom here is consolidation.
Neither was there consolidation at the higher levels in the past, nor was there consolidation at the lower levels following the crash. It's just been one rollercoaster ride so far. One hopes that, yet again as we approach the highs, we take some time to rest and consolidate and not rush in desperately. The pay-off for the pain would then be complete, and the onwards march easier to accomplish.
Rather philosophical to an extent, but true nevertheless.
The levels to be careful at are first at 2555-2557. Further up 2565-2575 region may test the climb.
Down below there is support at 2530 and 2512 to begin with.
2575 levels were tested in a rush early in the session and were unlikely to sustain.
2536 is where the Nifty has bounced up in the past. On Friday the move up came past 2536 with a keen tussle at 2546.
Now again 2536 has given a push, and 2546 may again give a fight.
These are good levels to play within for consolidating, even down to 2525 is good but not too much below that. Volatility is also low today. The midcaps are rather depressed but not badly off. Consolidation in this segment would be terrific.
Maintaing this sort of a tempo is a good sign over all. Few such sessions should set things up nicely.
2536 is where the Nifty has bounced up in the past. On Friday the move up came past 2536 with a keen tussle at 2546.
Now again 2536 has given a push, and 2546 may again give a fight.
These are good levels to play within for consolidating, even down to 2525 is good but not too much below that. Volatility is also low today. The midcaps are rather depressed but not badly off. Consolidation in this segment would be terrific.
Maintaing this sort of a tempo is a good sign over all. Few such sessions should set things up nicely.
Nifty Futures has formed a doji pattern on 13th Nov. Doji's at end of fast moving markets could be a major reversal sign.High Low was at 2571 & 2530.10. A fall below this Low could trigger a downslide. Once above the high we can be comfortable about the Bull run extending further. Chances of moving up are quite high as our proprietary Momentum indicator is moving up from a oversold zone. Those holding longs in Nifty Fut may use 2519 (aggressive) and 2489 (Less Aggresive) Stop Loss.
indianbullbear said:
Nifty Futures has formed a doji pattern on 13th Nov. Doji's at end of fast moving markets could be a major reversal sign.High Low was at 2571 & 2530.10. A fall below this Low could trigger a downslide. Once above the high we can be comfortable about the Bull run extending further. Chances of moving up are quite high as our proprietary Momentum indicator is moving up from a oversold zone. Those holding longs in Nifty Fut may use 2519 (aggressive) and 2489 (Less Aggresive) Stop Loss.
"Our proprietary momentum Indicator""........oh..god..another seller here....
Hey... that is a nice idea... hiding your website address in the message....
My dear we don't need any seller here...
..You can see very well that we have enough experts giving advice and guidence.. all free of cost...Please dont take the calls from and put in your website....ugh...We had an interesting sessiom on Monday where despite the wide 40 point movement of the Nifty in either direction, it never really gave the impression of being volatile or choppy. Sudden buying or selling did not emerge at any point, rather the movement traced a more compacting kind of a proccess, a consolidating exercise.
This kind of consolidation is vital as we are into a threshold zone now where 2580-2590 levels are the strong hurdles on the way to new historical highs, and 2500-2530 down below giving protection against a serious slide back.
A continued consolidation would be the right thing between 2525-2575 to build a launching-pad, that's it and other than this there's not much to write.
For immediate levels, the longer we sustain a little under and over 2555 the better.
2530-2535 are the supports, and 2576-2580 the levels above.
Below or above these too early into the session may be stretching it more than a little.
This kind of consolidation is vital as we are into a threshold zone now where 2580-2590 levels are the strong hurdles on the way to new historical highs, and 2500-2530 down below giving protection against a serious slide back.
A continued consolidation would be the right thing between 2525-2575 to build a launching-pad, that's it and other than this there's not much to write.
For immediate levels, the longer we sustain a little under and over 2555 the better.
2530-2535 are the supports, and 2576-2580 the levels above.
Below or above these too early into the session may be stretching it more than a little.
- Status
| Thread starter | Similar threads | Forum | Replies | Date |
|---|---|---|---|---|
| M | Nifty option strategy chart in Dhan Optiontrader | Brokers & Trading Platforms | 3 | |
| S | EOD data for Nifty 50 with volume | Introductions | 0 | |
| L | Nifty fifty and stock futures | Swing Trading | 13 | |
| M | Veluri Strategy intraday nifty fifty | Software | 96 | |
| T | Nifty Fifty Only + GOLD SILVER | Data Feeds | 0 |
Similar threads
-
Nifty option strategy chart in Dhan Optiontrader
- Started by MetatraderUser
- Replies: 3
-
-
-
-