NIFTY FIFTY

praveen taneja · #**1731** 15th October 2008, 08:52 AM

Quote:

Originally Posted by AMITBE

That 3525 area has risen a little to 3535.
So this is what the post from yesterday was alluding to.
Now, this is the area of conflict...this 3525-3535 zone...which NF has tested already.
Will it rally back, will it fall, don't know.

If falls, then I'd look for 3519-3505-3497-3489 for starters.

Not much time left tonight, but a gap down may well blow all those levels in a fall.

Ya sir sorry for quoting again foriegn mkt but sgx nifty trading down 90 points at 3421 so all level will b broken in gap down n other levels we are waiting for ur next post

AMITBE · #**1732** 16th October 2008, 10:56 AM

Thanks Satya, Ashish and others for finding me here again!!
It's nice to be here, but this time my feeling is I will not post on a daily basis as in the past. This is my feeling as of now...may change.

Ashish, about the Gann thing, all I can say is it all started with that, and soon got quite mixed with other things. Cannot really explain it all here. Besides it may not serve anyone's purpose.

Just sharing some levels that I keep a look out for:

At this time to the up there is a longish line where frequent difficult levels lie.

This line: Starting with 3234 it creeps higher via 3242-3250-3260-3267.
Movement is seen better above this, if it gets that far.

On the down side, some support is seen at 3177-3163-3148-3139.
Under 3130, will review later.

AMITBE · #**1733** 16th October 2008, 11:16 AM

Quote:

Originally Posted by AMITBE

Just sharing some levels that I keep a look out for:

At this time to the up there is a longish line where frequent difficult levels lie.

This line: Starting with 3234 it creeps higher via 3242-3250-3260-3267.
Movement is seen better above this, if it gets that far.

On the down side, some support is seen at 3177-3163-3148-3139.
Under 3130, will review later.

Below 3130, 3119-3109-3099.

AMITBE · #**1734** 16th October 2008, 11:31 AM

Quote:

Originally Posted by AMITBE

Just sharing some levels that I keep a look out for:

At this time to the up there is a longish line where frequent difficult levels lie.

This line: Starting with 3234 it creeps higher via 3242-3250-3260-3267.
Movement is seen better above this, if it gets that far.

On the down side, some support is seen at 3177-3163-3148-3139.
Under 3130, will review later.

Quote:

Originally Posted by AMITBE

Below 3130, 3119-3109-3099.

Just sank so viciously below that 3130..and equally fast the return?

3065-3075 area is also under survey.

I must study some long range data at this time...as obviously downward pressure is most intense, even for coming days.
In the meanwhile the levels are all valid.

moneygurukul · #**1735** 16th October 2008, 11:50 AM

Quote:

Originally Posted by AMITBE

NIFTY has strong support at 2222-2226 levels, so hope it will not breach this. The next low supports are 2212-2214-2216 levels and hope it will never come to this.
Has bounced back up for now from 2223 off.
Good luck.

Looks like in the coming months, this first post of the thread will be repeated.

AMITBE · #**1736** 16th October 2008, 01:49 PM

Quote:

Originally Posted by AMITBE

The problem here is, unless those 3464-3477 levels at least are retested, this surge is likely to flop as a false move sooner than later.

Trading around 3510 now.

Just as posted above a few days ago, the problem now is that NF has once again dashed past another purple patch.

This time it lies, at this point at 3200-3210 kind of levels.
This may shift a tad, or a little more should higher levels be held.
Unless this purple patched is retested, this too is a false move, I should say.

Again, after the likely test and play, will NF rise or fall further, I cannot tell.

Yeah, there are rules where the above mentioned scenario may be reviewed, and will do so should the need arise.

AMITBE · #**1737** 16th October 2008, 03:03 PM

Quote:

Originally Posted by AMITBE

Just as posted above a few days ago, the problem now is that NF has once again dashed past another purple patch.

This time it lies, at this point at 3200-3210 kind of levels.
This may shift a tad, or a little more should higher levels be held.
Unless this purple patched is retested, this too is a false move, I should say.

Again, after the likely test and play, will NF rise or fall further, I cannot tell.

Yeah, there are rules where the above mentioned scenario may be reviewed, and will do so should the need arise.

What's being seen now is that some interesting price conversation is going on at another purple patch at a much higher level, around 3315-3320 area.
Should this negotiation succeed, and that 3315 area is not broken downwards, then the assumption will be the previous purple patch zone mentioned in the above post marked in red gets negated. Incidentally, the red marked area has now risen to 3250 plus now on account of NF holding higher levels.

I've seen this happen rarely, so keeping a watch.

AMITBE · #**1738** 16th October 2008, 03:27 PM

Quote:

Originally Posted by AMITBE

Just as posted above a few days ago, the problem now is that NF has once again dashed past another purple patch.

This time it lies, at this point at 3200-3210 kind of levels.
This may shift a tad, or a little more should higher levels be held.
Unless this purple patched is retested, this too is a false move, I should say.

Again, after the likely test and play, will NF rise or fall further, I cannot tell.

Yeah, there are rules where the above mentioned scenario may be reviewed, and will do so should the need arise.

Quote:

Originally Posted by AMITBE

What's being seen now is that some interesting price conversation is going on at another purple patch at a much higher level, around 3315-3320 area.
Should this negotiation succeed, and that 3315 area is not broken downwards, then the assumption will be the previous purple patch zone mentioned in the above post marked in red gets negated. Incidentally, the red marked area has now risen to 3250 plus now on account of NF holding higher levels.

I've seen this happen rarely, so keeping a watch.

Negotiations failed, at least for the day, around that 3315 zone.
The previous purple patch, 3250, not negated.
3250 plus mentioned above tested at 3255. Good enough.
Price action now orderly.

One lives and one learns.

AMITBE · #**1739** 17th October 2008, 10:22 AM

Quote:

Originally Posted by AMITBE

What's being seen now is that some interesting price conversation is going on at another purple patch at a much higher level, around 3315-3320 area.
Should this negotiation succeed, and that 3315 area is not broken downwards, then the assumption will be the previous purple patch zone mentioned in the above post marked in red gets negated. Incidentally, the red marked area has now risen to 3250 plus now on account of NF holding higher levels.

I've seen this happen rarely, so keeping a watch.

Again this 3315 zone is retested.
All very orderly.

Now the ambiguity is:

- Having tested this area a few times now, is NF building a launching pad?
- Having tested this area a few times, is NF creating an excuse to travel downwards?

This ambiguity will be resolved once NF tests and plays around 3365, if it wants to move up that is.
Downwards, we'll have to see.

AMITBE · #**1740** 17th October 2008, 11:05 AM

Quote:

Originally Posted by AMITBE

Just as posted above a few days ago, the problem now is that NF has once again dashed past another purple patch.

This time it lies, at this point at 3200-3210 kind of levels.
This may shift a tad, or a little more should higher levels be held.
Unless this purple patched is retested, this too is a false move, I should say.

Again, after the likely test and play, will NF rise or fall further, I cannot tell.

Yeah, there are rules where the above mentioned scenario may be reviewed, and will do so should the need arise.

Quote:

Originally Posted by AMITBE

Negotiations failed, at least for the day, around that 3315 zone.
The previous purple patch, 3250, not negated.
3250 plus mentioned above tested at 3255. Good enough.
Price action now orderly.

One lives and one learns.

The first time that PP (purple patch, now onwards) mentioned yesterday, it stood at 3200-3210 area.
At close it was at 3255.

At this time it stands at 3280.
The attraction for this zone is strong.

Why?

Cos we are in a bear market. Greater chance that magnetic levels to the down hold price action captive, rather than magnetic levels to the up.

Similar Threads for: NIFTY FIFTY
Thread	Thread Starter	Forum	Replies	Last Post
Adx-Dmi,William(R) and Zig all 3 charts togather for Nifty	yara	Trading on Technicals	6	7th June 2006 07:30 AM
Sensex Nifty close at 6 month high	TATrader	Current Affairs	1	11th March 2005 05:03 PM
Support & Resistance Levels for the NSE Nifty 50	Traderji	Trading on Technicals	6	16th August 2004 03:15 PM

The Following 3 Users Say Thank You to AMITBE For This Useful Post:
cheeku (16th October 2008), Czar (16th October 2008), uasish (16th October 2008)

The Following 2 Users Say Thank You to AMITBE For This Useful Post:
cheeku (16th October 2008), Czar (16th October 2008)

The Following 2 Users Say Thank You to AMITBE For This Useful Post:
Saint (16th October 2008), uasish (16th October 2008)

The Following 3 Users Say Thank You to AMITBE For This Useful Post:
Czar (16th October 2008), pkjha30 (16th October 2008), uasish (16th October 2008)

The Following 4 Users Say Thank You to AMITBE For This Useful Post:
cheeku (17th October 2008), Czar (17th October 2008), Saint (17th October 2008), uasish (17th October 2008)

The Following 3 Users Say Thank You to AMITBE For This Useful Post:
adilsaleem (17th October 2008), karthikmarar (17th October 2008), uasish (17th October 2008)