NIFTY FIFTY

AMITBE · #31 5th August 2005, 10:02 AM

It's all getting very difficult here with the run-up.
Yesterday's close at 2367 was a tad below 2370 above which things could have been better.
For today, on the up, 2380-2385 are within reach if the trend continues. If things get hot, 2390 off would be next.
Down side is 2360 as comfort level, but further down is 2355. On a severe down, 2345 could be tested.

AMITBE · #32 5th August 2005, 03:10 PM

Quote:

Originally Posted by AMITBE

It's all getting very difficult here with the run-up.
Yesterday's close at 2367 was a tad below 2370 above which things could have been better.
For today, on the up, 2380-2385 are within reach if the trend continues. If things get hot, 2390 off would be next.
Down side is 2360 as comfort level, but further down is 2355. On a severe down, 2345 could be tested.

NIFTY has just tested 2355, and seems to be climbing to 2360...
The support at 2355 may have come as a show of some strength.

AMITBE · #33 7th August 2005, 12:57 PM

For Monday Aug. 8

Hi all…
I am writing with a word of caution mainly.
The market is showing a distinct sign of weakness in the last three sessions. In each session NIFTY tested 2377, a crucial level, and fell back.
There is a marked lack of momentum which was seen about a week ago, and the index has remained range bound with a bearish disposition.
On Friday, the dip to 2355 and a slight pull back to close at 2361 while displayed some resilience amongst the bulls, the panic trigger seems ever so near.
For the up-trend to continue, it is vital that NIFTY at some point should climb past 2380 and remain there to the end on Monday, and under no circumstances should it close below 2377. While 2380 seems rather distant as of now, but may attempt 2377 again.
In case of a fall, 2345-2350 should lend support.
In dismal circumstances, 2325-2330 may well be tested in the course of the week.
On the other hand, should the rally to above 2380 materialise (and there is some talk of 2400) at any point next week, it may be viewed as a trap where a lot of traders will suddenly be left holding falling scrips.
Trade with caution, please.

mejo · #34 7th August 2005, 09:03 PM

Hi AMITB,
'm holidng 125 shares of JK CEMENT @137.
Could you give me a target for next 6 mothns. should I buy more or book loss now ?

AMITBE · #35 7th August 2005, 10:09 PM

Quote:

Originally Posted by AMITBE

For Monday Aug. 8

Hi all…
I am writing with a word of caution mainly.
The market is showing a distinct sign of weakness in the last three sessions. In each session NIFTY tested 2377, a crucial level, and fell back.
There is a marked lack of momentum which was seen about a week ago, and the index has remained range bound with a bearish disposition.
On Friday, the dip to 2355 and a slight pull back to close at 2361 while displayed some resilience amongst the bulls, the panic trigger seems ever so near.
For the up-trend to continue, it is vital that NIFTY at some point should climb past 2380 and remain there to the end on Monday, and under no circumstances should it close below 2377. While 2380 seems rather distant as of now, but may attempt 2377 again.
In case of a fall, 2345-2350 should lend support.
In dismal circumstances, 2325-2330 may well be tested in the course of the week.
On the other hand, should the rally to above 2380 materialise (and there is some talk of 2400) at any point next week, it may be viewed as a trap where a lot of traders will suddenly be left holding falling scrips.
Trade with caution, please.

Hi mejo, I'm just bringing my post on NIFTY forward and will answer your query in my thread 'Some Good Steals' later tonight or early tomorrow.

AMITBE · #36 8th August 2005, 12:15 PM

Quote:

Originally Posted by AMITBE

On Friday, the dip to 2355 and a slight pull back to close at 2361 while displayed some resilience amongst the bulls, the panic trigger seems ever so near.
For the up-trend to continue, it is vital that NIFTY at some point should climb past 2380 and remain there to the end on Monday, and under no circumstances should it close below 2377. While 2380 seems rather distant as of now, but may attempt 2377 again.
In case of a fall, 2345-2350 should lend support.
In dismal circumstances, 2325-2330 may well be tested in the course of the week.

In the opening move NIFTY hit the improbable level of 2387, and then slipped to test 2334.
Now on a back at 2343.
If it could keep between 2345-2355, things would be safe for the day.
Tisco, Sail and ONGC are the main supports for now.
HindLever has lost a lot of ground but there is heavy buying going on here at these low levels. May help later.
Not looking good for now.

AMITBE · #37 8th August 2005, 02:51 PM

Didn't quite expect 2324 to be broken today.
The lowest yet is 2320.
If there is no pull back up from 2319, then to 2312, and 2303 becomes most crucial after that.
These are tech levels, and all of this not necessarily today itself, if ever.

AMITBE · #38 9th August 2005, 09:38 AM

Quote:

Originally Posted by AMITBE

On Friday, the dip to 2355 and a slight pull back to close at 2361 while displayed some resilience amongst the bulls, the panic trigger seems ever so near.

In dismal circumstances, 2325-2330 may well be tested in the course of the week.

The panic trigger did get tripped, but more swiftly than I expected. The break past 2324 to 2320 was imagined for a possible mid week scenario.
Here, the good news is that the big fall may possibly be out of the way now. The support at 2320 gives evidence of it. Also, while the market breadth was negative, it was not severely so. Also, a lot of the NIFTY stock did not slip quite in tandem with the Index itself.

For today 2300-2305 are important supports, and in case of a sharper fall, 2285 may be tested.
The comfort level would be if the NIFTY keeps in a 2325-2335 range, though this is difficult call.
Testing 2350 on the up is merely a theoretic technical level.

AMITBE · #39 9th August 2005, 02:01 PM

Quote:

Originally Posted by AMITBE

For today 2300-2305 are important supports, and in case of a sharper fall, 2285 may be tested.
The comfort level would be if the NIFTY keeps in a 2325-2335 range, though this is difficult call.

Most of the session NIFTY remained within 2325-2335, closer to the upper level.
Now 2319 is broken and currently at 2317.
If there is no pull back up from here, then to 2312, and further 2305 becomes most crucial after that.

AMITBE · #40 9th August 2005, 04:03 PM

Quote:

Originally Posted by AMITBE

Now 2319 is broken and currently at 2317.
If there is no pull back up from here, then to 2312, and further 2305 becomes most crucial after that.

NIFTY did test 2304 after all and pulled back to close 2318, a loss of 6 odd points.
I still feel the worst is behind now, as I wrote this morning, the big correction seems out of the way.

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