Nifty Futures Trading

tsunil4u · #**9091** 27th July 2008, 08:46 AM

Here is a monthly chart of Nifty Spot from May 2004 (when UPA was elected to power) till current month.

Surprisingly, there seems to be a strong support line which starting from May 2004 crash and surviving later crashes of May 2005, June 2006 & latest July 2008 (as of now).

Also, this is an upward sloping line (does this mean that SUB-3700 is not possible at all)...??? !!!

Hmm... so, should we say now that it's actually:
"CONGRESS KA HAATH, NIFTY KE SAATH"

tsunil4u · #**9092** 27th July 2008, 09:00 AM

Quote:

Originally Posted by tsunil4u

thanks again, vineet...

this is really helpful in many ways...
(i have just registered myself & am exploring.... it seems to have most of the things which i was looking out for...)

I dedicate my "first ever" chartical post to Vineet (id - myvineet)

Thanks again buddy...

(vineet, you may be thinking what's SO great about the website... but actually, for someone who does not have access to technical/chartical software, and for someone who LOVES to play&trade with Nifty levels, this is actually a good source for visually confirming the ideas about STRONG supports & resistances. Another good thing is that it's not just EOD, but also INTRADAY - which I wanted badly)

JINEEL · #**9093** 27th July 2008, 09:08 AM

Sir
pl date upload

tsunil4u · #**9094** 27th July 2008, 09:26 AM

Quote:

Originally Posted by tsunil4u

BEAR SCARE:

1. Refer to the EOD chart of SPOT with Bar/candlestick as charting style
2. Join the peaks (HOD) of 9 Jan, 2 May, 16 May....
3. This is a downward sloping line, and today's HOD as somewhat touched it
4. SPOT has reacted sharply downwards after touching this line...

i would like comments from other members. as I am not a proper TA...

This is what I had meant with my above post of July 23rd at EOD, before the correction actually started from July 24th...

(as this is a downward sloping line, this bear scare level will change with time but downwards...)

interesting to note that the long term "congress level" (previous post) and this medium term "bear scare level" are slowly converging...

Summary with tongue-in-cheek (smart alec observation) :-
"Congress SUPPORT level" will stay as long as congress stays in power...
"Bear Scare RESISTANCE level" will stay as long as bears stay in market...

P.S. - is it a mere coincidence that the last 12 months' serial bomb blast are taking place at non-congress states... (excluding maharshtra) or to be specific BJP-ruled states (not sure abt this BJP part)

tsunil4u · #**9095** 27th July 2008, 09:40 AM

Since we are talking of medium term "bear scare" level, then a weekly chart should have been takien ideally.

But, even in weekly charts, this "bear scare" level is working precisely.

pakatil · #**9096** 27th July 2008, 01:47 PM

Normally it is expected that a Tenant vacates the property in the same condition that he got. Will Congress bring Nifty back to levels of 2004 when they started (~2500). Just scared!!!

uasish · #**9097** 28th July 2008, 01:07 AM

Quote:

Originally Posted by pakatil

Normally it is expected that a Tenant vacates the property in the same condition that he got. Will Congress bring Nifty back to levels of 2004 when they started (~2500). Just scared!!!

Was chocked Laughing !very nice paktil

tsunil4u · #**9098** 28th July 2008, 08:58 AM

RBI POLICY TOMORROW - DAY OF SUSPENSION BETWEEN WEDNESDAY'S GAP UP & FRIDAY'S GAP DOWN...
(both gaps will provide respective support & resistance... let's see which gap fills up first... though, due to unfortunate incidents of our country along with lurking RBI policy, high chances of the (lower) gapup being filled first)

The gap support is at 4260-40 (SPOT) Ideally, this should act as a strong support today, for the health of the bullish rally of the last week.
Below 4240 ----> 4215/4200

4250 is the bearish pivot for today... as long as SPOT sustains below this, it will be a sell on rallies strategy.
4285 (thurday's low & friday's near high) is the bullish pivot - if spot sustains above this, then we can expect the gap-down band of 4400-4430 to be filled.

In summary,

4200/15 - 4260/40 - 4315 - 4350 - 4385 - 4400/30

tsunil4u · #**9099** 28th July 2008, 09:03 AM

(attempting for FUT)

sell below 4320/10 for 4280 - 4260 - 4250

if even 4245 breaks, then 4220/10

buy at 4215/10, SL 4190 for some reversal

columbus · #**9100** 28th July 2008, 09:25 AM

Quote:

Originally Posted by tsunil4u

"CONGRESS KA HAATH, NIFTY KE SAATH"

Have close look at HAATH. 2007 coincides with Middle finger.Now we are on Index finger.The next one is THUMB.It shivers my body !!!!