My view on nifty and stocks

Nifty high ressistance point is between 6260 and 6290. All the major timeframes ressistances are there. If nifty breaks above 6300 and sustained at that level till closing, strong chances are to move further.

Nifty

Thursday nifty entered again in to the neutral zone. Friday slightly dropped from that levels. But not so negative. So, I given good levels to enter on both sides.

Buy above - 6150
Target - 6260 to 6280
Stop loss - 6110-6000

sell below - 5980
target - 5835 to 5860 ( Good support may come at this levels )
stoploss - 6000 to 6010

your views are correct ! If we look at the charts for the last 6 months,Nifty always respects 20 day MA.On monday,if the 20DMA bocomes a support,then Nifty will move further.My own target is 6387 or 6408.

Dear asuthosh,

Thanks for support to my views. Some strong ressistance between 6130 to 6150, but not that much strong as in my 1st post.Then again i feel ressistance between 6260 to 6280. After that as told by you i.e ressistance at 6360 to 6380.If nifty breaks lower side, 5835 to 5860 levels are good support level to enter long.

It seems nifty consolidating before breakup the 6130 to 6150 levels.see what nifty will do in the next two days.

29th october hammer formed. volume is not supporting that much. Take long positions on nifty only above 6150.

Good stocksto buy as per my view.
( Enter only after buy confirmation given by nifty within two or three days)


Ticker Date/Time Close

ALBK 10/29/2010 247.75
ANDHRABANK 10/29/2010 178.2
ASHOKLEY 10/29/2010 75.8
BIOCON 10/29/2010 411.7
FEDERALBNK 10/29/2010 472
GTLINFRA 10/29/2010 44.75
IOC 10/29/2010 418.05
JINDALSAW 10/29/2010 217.45
MRPL 10/29/2010 81.2
MTNL 10/29/2010 67.5
ORIENTBANK 10/29/2010 498.9
SYNDIBANK 10/29/2010 138.8
UCOBANK 10/29/2010 125.5
VIJAYABANK 10/29/2010 106.75
VOLTAS 10/29/2010 245.2
YESBANK 10/29/2010 359.5

On Oct. 16th,the 144 fib days completed.Since then, we are merely watching kinda consolidation.Of course, Nifty again bounced back and on Nov.5th,6338 was achieved.As fib days are over and still Nifty could not achieve its target ,Nifty can not go anywhere before kissing 100 day MA which falls on 5704 and this will be achieved on or before 34th day since Oct 16th.The next week is , therefore , crucial ! Pl comment.

Hi,

In my view nifty got some little support at this level. If it breaks this support level and drops from here it may go 5750 levels i.e next trend line support and fibonacci 38.2%.

Dear one, the fibonacci days are over. From Oct. 16th,the trend is downward and the market is only trading.Yes, u r right,Sir, Nifty will kiss 5750. Thanks for ur response.

Hi,

5875 levels are crucial for nifty. All major timeframe supports are there. Keen observation should be required at these levels. If Nifty fails at this level it may touch between 5730-5750.

most of the other markets are appearing green but not so strong at this time. I think today nifty may fluctuate at current levels.