Daily Nifty Analysis

[Czar]

thank you sir for the much needed explanation, i agree trade happy & you trade well, trade snappy & you trade crappy

 

[Dusant]

thank you sir for the much needed explanation, i agree trade happy & you trade well, trade snappy & you trade crappy

Thank you, for the kind words.

 

[Dusant]

Daily Nifty Analysis for 03 Oct 06


These are my personal musings. These are not in any way meant to be trading advise. To view the chart, check the link below.

The Nifty has at last taken a breather. Which was expected. My stop for long has been triggered. Even so, the relevance of the short term support level is reinforced by the number of times that the Nifty has managed to claw back from lower levels. I am expecting this short term move to touch the 3530 levels. Normally, these short term technical levels are overshot mildly. Therefore, a level of 3515 would be a good level to watch out for. I am preparing to go long tomorrow or the day after, if and when I see the Nifty take support there.

Taking a look at individual stocks, we do not find any panic selling, and a mixed behaviour in some sectors. Which leads us to believe that there is going to be some sector churn leading up to the quarterly results.

It is at times like this, that some extra caution needs to be exercised.

Dusant

 

[sharantaka]

Dear Dusant,
How do I subscribe to your thread to get the Nifty analysis? Awaiting your reply
Thanks
sharantaka
[email protected]

 

[Czar]

Is'nt a down week much needed...I think nifty has some kindof record with 10 weeks straight rise

 

[Dusant]

Dear Dusant,
How do I subscribe to your thread to get the Nifty analysis? Awaiting your reply
Thanks
sharantaka
[email protected]

All you need to do is to look for the "thread tools" on top, and select the subscribe option.

Dusant

 

[Dusant]

Is'nt a down week much needed...I think nifty has some kindof record with 10 weeks straight rise

Yes, I would tend to agree, that a much needed correction is necessary, but the correction need not necessarily be downwards, it could be sideways.

The probability of a sideways correction seems more, considering that we are into the third quarter earnings season.

There is bound to be aditional volatility and sector churn, as mentioned earlier.

 

[Czar]

it seems you are right again, we might have a minor down & move sideways this week the index heavies are being juggled nicely, lets see

 

[Dusant]

Daily Nifty Analysis for 4 Oct 06


These are my personal musings. These are not in any way meant to be trading advise. To view the chart, check the link below.

I have received many congratulatory messages both on the forums which I post on, and also in my mailbox. Also, many messages have asked me what we should do next. For all those messages, I would thank each individual for their very kind words. Also through this medium, I would like to re-iterate that I am not in the habit of giving specific stock recommendations.

Also I would like to caution bottom fishers not to get carried away by the accuracy of my projected levels.

All you need to do is to allow the market to tell you that it has indeed bottomed. Allow a higher bottom higher top to be established, and then only go long.

If you ask me what my personal gut feel is? Yes, the Nifty should resume its upward trend from tomorrow onwards. All said and done, I am only a human being, and I could be mistaken.

Dusant

 

[Dusant]

I thank those two folks who have rated this thread.