NIFTY FIFTY

darsh_goswami · #**511** 28th October 2005, 04:41 PM

Hey Amit ,..
Thanx buddy that u didnt mind my words ,..
Nifty was supposed to break 2290 today , well it didnt ,.. Then too I was very much near to my target price ,.. Covered all short positions today ,..
N ya thanx for the advice of keepin a stoploss in mind ,.. ( thats what i do when i trade fr intraday )
ITC seems abit stronger then anyother scripts ,.. Then too Yet i dont feel markets r about to make any upper move ,.. may be a Upside Correction can take place here ,.. but lets see ,.. Bears r rulling the markets at the current stages ,.. Still there is no indications to buy on my charts ,.. What next target for nifty ? I will try to count out some steps , may be tomorrow or on Sunday ,.. But its time now to enjoy Diwali ,.. n new year ,.. Those who had shorted their positions or who had exited @ top levels of the markets must be enjoying ,. N Those who stuck in this bear run ,.. Well guys Market is fundamentally very strong there is no need to penic ( i guess ) Rally will come again ,.. n hope u all earn more profits then u have expected ,..
Best wishes to all of u guys ,...
N ya Amit ,.. Today it has even broke 2308 . Though couldnt manage to sustain below that ,.. What do u think about it ? is 2304 the final support existing for the next week ? What about the markets on the muhurat trading ? Throw some light plz ,...
Regards ,..
Darsh

AMITBE · #**512** 31st October 2005, 09:55 AM

A couple of sessions ago the word was there is support for the Nifty at 2380, and in a swift move, we are down by a hundred points to find another support now: 2280. Below this the game should really be over for the bulls in the short term at least.
On Friday the slide had stopped at 2307 with a soft pullback to close 2316. Let's just hope the weak pullback was on account of the weekend alone. But then we don't have a full week for the market this week and the play should be more cautious in nature, and under the current circumstances this would mean flatish going on bearish. Flatish to bearish, even this is fine as the wish and hope for a sideways consolidation is all we have left. Even this would be snatched away should 2300-2290-2280 be lost.
To the up, how far up could a relief, corrective rally take us? not too far up, going by the extreme negative mood. And when the fall comes again from such a rally, wouldn't the velocity be greater, and does 2280 have the resilience and gumption to hold the fall then? It's anobody's guess.
No, not looking good at all.

The levels, climbing above 2327 should be the immediate target. And then 2342 has troubled all day Friday. Past this only 2354 would offer help.
To the down, 2307-2303-2297-2292 are some important levels.

karvind79 · #**513** 31st October 2005, 11:09 AM

Dear Friends,

Market on 31/10/2005.

Nifty Levels are

R3 2392
R2 2373
R1 2344
PP 2329
S1 2308
S2 2295
S3 2278

Expecting that Nifty will test 2283 (in lower) and if it bounce back toward up it can move up to 2374 (in upper)
or else check NIFTY levels given above.

Above is premarket calculation and missed to post b4 market open due to high work pressure

I 'll try to post intraday

from

Arvind K

karvind79 · #**514** 31st October 2005, 11:15 AM

Dear friends ,

This is nifty level as on 11:12

2348

2336

2332 (PP)

2323

2316

From

Arvind K

AMITBE · #**515** 31st October 2005, 12:58 PM

Quote:

Originally Posted by AMITBE

The levels, climbing above 2327 should be the immediate target. And then 2342 has troubled all day Friday. Past this only 2354 would offer help.
To the down, 2307-2303-2297-2292 are some important levels.

So far so good. The reality test is to stay above 2354 for tonight or at least 2342.
2357-2359-2365 are in the way for now. And then 2384.
2337 is support.
Hope the festivities will continue...relief rally or not.

AMITBE · #**516** 2nd November 2005, 09:56 AM

Two up days if the Muhurat session should be included in the accounting, and as Lakshmi is serious business I think it should be.
The Nifty returned from 2410 in the brief session yesterday to close above Monday's 2370. In the past it has never crossed 2400 off levels without heading south first. 2320-2400 levels have been an extended trading range lasting about a couple of months, July to September, and 2403 has been the important if difficult mark to cross.
Internationally the Dollar is bullish still and this has been the prime motivator for the FIIs to pull out. One can only await some important triggers to get this money/liquidity back into our markets before we see the trend returning. Unfortunately we really are stuck with this single most vital factor at this point. And they can bide their time and allow things to slip here.

The longer term outlook remains quite weak even if the last two sessions have improved the readings from the short term oscillators.
2403 mentioned above holds much power, and then 2412-2420-2432 to the top.
2384 on which so much was being attributed is too close for comfort. In fact the 2350-2380 area has not done too much in the very recent past to prop up the Nifty and this area would only weaken if we dip below here one more time. The threat at 2303 is stil very much alive.
Some supports are there for today at 2357-2365-2380.

AMITBE · #**517** 2nd November 2005, 01:57 PM

With the four day weekend coming on and over 90 mins to go the current sentiment does suggest selling in the next little while.
But if we see couple more attempted rallies towards and upwards of 2409-2412 there may just come some panic short covering to head for a possible strong closing.
Wishful thinking here more likely but the possibility does exist.

raju_shastry · #**518** 2nd November 2005, 02:51 PM

Quote:

Originally Posted by AMITBE

With the four day weekend coming on and over 90 mins to go the current sentiment does suggest selling in the next little while.
But if we see couple more attempted rallies towards and upwards of 2409-2412 there may just come some panic short covering to head for a possible strong closing.
Wishful thinking here more likely but the possibility does exist.

Amit,

Has the market bottomed out?

Raju

AMITBE · #**519** 2nd November 2005, 03:11 PM

Quote:

Originally Posted by raju_shastry

Amit,

Has the market bottomed out?

Raju

Hi Raju, difficult to say and the next few sessions would confirm the move today, so far that is. The next 20 mins are important for now.
I'm afraid it's going to be one day at a time till we clear some crucial levels further up and sustain there.
Just watch and wait in the meanwhile I guess.
Cheers.

AMITBE · #**520** 2nd November 2005, 03:35 PM

Quote:

Originally Posted by AMITBE

With the four day weekend coming on and over 90 mins to go the current sentiment does suggest selling in the next little while.
But if we see couple more attempted rallies towards and upwards of 2409-2412 there may just come some panic short covering to head for a possible strong closing.
Wishful thinking here more likely but the possibility does exist.

Yes, a really good close under the circumstances.
Hope for the best into the new week then.
Happy weekend all!

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