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| Discuss Index with (-)ve Bias at the Equities within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Hi, The (-) ve points 1)In Sensex near the previous Top(10/5/2006) there was a gap ... |
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#1
6th March 2007, 01:13 AM
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Index with (-)ve Bias
Hi,
The (-) ve points 1)In Sensex near the previous Top(10/5/2006) there was a gap at 12659 to 12635 (Double Support,one for the Top,2nd support for the gap,hence Double support) which is broken & that gap filled up today. 2)Wkly support =12360.00 broken today (this closing fig of 12415.04 is the weighted avg,all of us ,who were keenly watching intraday charts know this) 3)Fib level of 38.2 = 12463,Closed below it. 4)A gap created in the chart today (a falling window,there are 3 falling window in last 10 bars,impling Bearish continuation) 5)Including today 6 falling days( excluding the Inner days) 6) As per Thomas Demark Sequence today is 7th day. 7)Nifty Futures (as per Alternate 2 Short Term Wave Count)in 3rd Wave of 5th down when gapped below 3637.55 today,next Tgt= 3428.45.(2 Gap Down bars in last 5 trading days,hence 2 falling window fortifies bearishness). 8)Sensex Below 200 EMa = 12538.98 Now the (+)ve points. 1)Nifty Futures (as per Long Term Wave Count is in 4th Wave of 5th Up) 2)Closed above Wkly support of 12360. 3)The weighted Avg Close being more than actual (at post mkt during Brooker's time many may have squared up of thier shorts) 4)Extremely Over Sold situation. 5)long term support at 3541.08. All in all Bearish Bias.At the back of my mind there is a tingling feeling to-morrow it will rise,has to throw it away,& firmly decide If 3540 broken in cash Nifty ,decisively ,will liquidate all (except Balarampur Chini & Colgate) so as to enter again at 3465 to 3423 only in those stocks,which i have to book temporary loss now. Asish 
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#2
7th March 2007, 08:01 AM
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Re: Index with (-)ve Bias
Hi,
Nifty has to clear 3765 now,but will have to take advantage of this relief rally to get out off all positions,whose Upside is 3843.85. Short initiation when cash Nifty near 3843.85. Asish
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#4
7th March 2007, 01:42 PM
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Re: Index with (-)ve Bias
Quote:
bias. Asish
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#7
7th March 2007, 10:42 PM
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Re: Index with (-)ve Bias
Quote:
the government's policies are in a regression channel.The battle lines are drawn.If the govt persists in Price Controlls then their is no limit to the bottom of the market. Last edited by jatayoo; 7th March 2007 at 10:44 PM. Reason: misprint
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#8
8th March 2007, 08:25 AM
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Re: Index with (-)ve Bias
Hi,
Level's Nifty Cash : Res 3658.30 / 3671.90 / 3685.35 / 3713.75 Supp 3622 (Fut=3595) / 3575 / 3562.40(Fut= 3546) / 3464 / 3423 Asish
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#9
8th March 2007, 12:31 PM
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Re: Index with (-)ve Bias
Why are closing prices important.I just wonder.
 Markets stop,trading stops but time doesnt. For all bullish pretensions the high of the week 3726 remains a big hurdle.It has to cross it to generate bullishness and further short covering propelling the market. But i daresay,the strong shorts wud be forced to play their hand.Because i think it has been setup very nicely by them. Lets See.
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#10
8th March 2007, 12:55 PM
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Re: Index with (-)ve Bias
amitt29
It is imprtant becoz the entire day's tussle between the Bullish & Bearish sentiment draws the line for the day.All delivery players ,intraday sq up ,arbitrragers,jobbers sentiment is reflected in that price,& the entire day's range & the closing in comparison to the Close denotes the day's story of the blood shed & reletive win loss of the (+)ve (-)ve sentiments. Asish
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