NIFTY FIFTY

nkpanjiyar · #**691** 22nd December 2005, 11:04 AM

Quote:

Originally Posted by AMITBE

But am I straddling both worlds like the experts on business channels?
To clarify my stand, I retain the view that we would go higher and soon.
I don’t believe we are done with this leg yet.

On to abstraction.
The blind spots as we are aware are all but tended to.
There are no more virgin grounds left to the down.
2799 continues to radiate strong energy.
Centrifugal forces have done their bit.
Actions and reactions have evened out.

The levels: To the up the Nifty needs to regain 2835 firmly and the levels along the way are 2826-2829-2833.
If 2835 is held, 2847 would be the level to seek. The levels to there are 2838-2841-2844.
If we get that far, will post more.
On the down the levels are well known by now.

Nicely explained.

Thanks.
nkpanjiyar

AMITBE · #**692** 22nd December 2005, 11:28 AM

Quote:

Originally Posted by nkpanjiyar

Nicely explained.

Thanks.
nkpanjiyar

Thanks NK.
Notice in the chart attached the severe conflict at 2835 mentioned as the first given for a climg today. The points are in red A, B, C, D, E.
Another interesting point is the H&S at 2838 which pushed the Nifty down sharply.
We will do well to hold 2835 today. It's important.

srisara · #**693** 22nd December 2005, 12:54 PM

Amit,

I was talking about short term correction.

Satya

AMITBE · #**694** 22nd December 2005, 01:24 PM

Quote:

Originally Posted by srisara

Amit,

I was talking about short term correction.

Satya

In the short term there is correction/consolidation as said last night, and it's happening under our nose, Satya.
What I have been writing about here is the underlying strength, and yes in the short term too and I still hold that view.
We are a long way away from breaking for a steep correction yet.
Also as I said last night, the Trix etc will get whipped around in this process, so don't go by them too much as far as the index is concerned. It's been showing the negative divergence all the days that the Nifty has been consolidating.
If the Nifty, which is influenced by so very many factors takes a nose up tomorrow or whenever, it'll drag the Trix up with it.

We had just broken down at a H&S at 2826 which formed all morning.
The high was indeed at 2746.65 and 2747 was written this morning.
2821 has supported this fall, while 2813-2818 are the prime supports as far as the numbers go.
There's time yet.

darsh_goswami · #**695** 22nd December 2005, 05:10 PM

Hey Amit,..
Doing a great job buddy ,..
Dont u think the intraday charts would have been better if there it wouldnt be any news ?
Anyways ,.. Nifty is heading towards 2876,.. May be we can witness it tomorrow,.. But for that it needs to sustain over 2840,.. Anything above it will give market a new wing to fly towards 2876. Little hurdle would be seen somewhere around 2852-2855,..
The trading levels would be uploaded later on from myside about nifty ,.. ( hope my net works properly). Coz i tried to upload intraday chart for the nifty but couldnt manage to.
Ur comments on the markets Amit plz ,..
Regards ,..
Darsh

darsh_goswami · #**696** 22nd December 2005, 05:16 PM

Hey again ..

for tomorrow trading ,.. one can consider these levels ,...
Upper side .--> 2839,2842,2846,2853,2864
Downwards --> 2831,2828,2824,2817,2807

2836 & 2829 can be seen as the trend decider ,.. i would suggest buy in the deep keeping Stop @ 2815,..

Amit N other seniors ,.. Few words from urside required ..
Regards ,..
Darsh

AMITBE · #**697** 22nd December 2005, 05:40 PM

Quote:

Originally Posted by AMITBE

So where to now?
A difficult call indeed, but I’ll venture out to say today would likely be groundwork day, like a preparation day for another significant move coming on soon.
If that move is going to be to the up, one may expect further consolidation in the higher levels to build a launching pad.
If contrary be the case, we’d of course struggle at lower levels.
But am I straddling both worlds like the experts on business channels?
To clarify my stand, I retain the view that we would go higher and soon.
I don’t believe we are done with this leg yet.......

.....The levels: To the up the Nifty needs to regain 2835 firmly and the levels along the way are 2826-2829-2833.
If 2835 is held, 2847 would be the level to seek. The levels to there are 2838-2841-2844.
If we get that far, will post more.
On the down the levels are well known by now.

In the end 2835 was held.
The Nifty brushed against 2847 on the up, and 2818 to the down.
The intensity of the fight for 2835 is fascinating to see in the chart attached. The bulk of the action took place at this tempestuous but vital location especially in the second half of play.
There is something to be said for numbers.
Which is an understatement.

I'm glad there are a handful of members who actually see these charts I put up every evening.
And I do hope they are as thrilled as I to observe the way the numbers mentioned each day are playing along with astonishing compliance.

AMITBE · #**698** 22nd December 2005, 10:24 PM

Hi Darsh,
Thanks very much for the input.
I would be posting my write-up in the morning.

I wish to make a clarification here.
I'm running this thread merely like a Weather Station, albeit rather a didactic one, for the daily outlook of the Nifty which I periodically update during each session.
Therefore this thread is just about as useful or useless as far as Weather Stations go.
But by no means is this meant for the purpose of making trade calls.

There are many members here who's primary objective for being here is to look for trading calls.
Perhaps you should start a seperate thread with the purpose of making trade calls on the Nifty, which I'm sure will be greatly appreciated. And I'm sure some seniors will pitch in too.
I do hope you understand.
Thanks and regards.

AMITBE · #**699** 23rd December 2005, 09:55 AM

Quote:

Originally Posted by AMITBE

At this point I’m raising some interesting possibilities going ahead.
2866 and 2917 are coming up as levels where we may see an important event on the Nifty…a possible reversal?
There are two sets of dates coming up:
December 23 and 29.
January 3 and 6, 2006.
I may be jumping the gun big time, but this is my work in progress, you see.

The above was written on Dec 19.
Now, for the life of me I cannot trace what it may have been that inspired this. I try and keep track of all the charts I make but any material pointing to this is missing. There’s been a number overload, and I should conduct this research in a more orderly manner.

Nevertheless since the above was posted, I'm pulling it up now as this is one of the days mentioned.
The reversal mentioned aside, this is certainly looking like an important day for sure.
A reversal to the up appears the more likely scenario at this point.

To recap the last few sessions, the probes to the up have not met with buying support from the big boys so far. This should change soon.
Levels to the down have been tested for critical strength, which was found to be intact.
Yesterday’s low was higher than the previous one while the highs were pretty much at par.
The trading range been created spans 2799 on the down to 2853 to the up.
Both these are also the prime numbers in my charts here.
2799 is well established while 2853 lies relatively un-fiddled.

In a long term bull-run, the advantage always lies with the bulls, this has been mentioned earlier. The periodical regrouping shows up as consolidation, and at historical heights a cautious approach defines the bull-run as a sustainable one.
The bears in this setting will subsist on random pickings and will seek opportunities at every peak.
When the bulls refuse to yield beyond a point and exert pressure, the bears are obliged to surrender and even change sides.

So again, what next.

An interesting term I found by chance in yesterday morning’s post, and being treated as a notion rather than literally as so many other terms, is compression.
Number energy is likened to number compression.
The movement the last couple of sessions was volatile with a pretty wide swing, nevertheless we had seen some major struggles shifting from a certain lower level to a certain higher one and back again, as seen in the intraday charts.
The high and lows have compressed the Nifty.
The high at 2853 has shifted to 2835, while 2799 low has moved up to 2818.
With this compression, the Nifty appears set for a move which may even turn explosive.
The directional call is the difficult one, but we’ll learn from our mistakes if things go awry, and go with the up.

The levels, 2842-43 is close by yet vital.
The next major level is 2853, with 2845-2848-2851 falling along the way.
The next highpoint is 2866 with 2857-2860-2863 being important marks to there.
We’ll be rocking if 2878 is tested with 2870 and 2874 acting as testing grounds.
And if 2878 is taken…we’ll come to it then.

Rather lofty the aim, but then these are merely numbers.

The supports are of course well known by now.

joy_mitali · #**700** 23rd December 2005, 09:57 AM

Hello---Amit--,
Sent my utility---DO chk it in ur mail---
Regards,
joy_mitali

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