NIFTY FIFTY

[AMITBE]

The move is not looking too bad so far, and the step-up trigger line at this point is 2965-2969-2973-2981-2989
Above this line the market could turn bullish.

And if 2994 is held, the line would be 2999-3004-3009-3013-3018-3023-3026-3029.

Potential levels, these.

 

[amitt29]

Closing Flat.I feel had we closed in the negative it wud have augured well for the coming days.I am a bit perplexed with todays close.
Amitji cud u kndly throw some light on it.
Regards

 

[AMITBE]

The move is not looking too bad so far, and the step-up trigger line at this point is 2965-2969-2973-2981-2989
Above this line the market could turn bullish.

And if 2994 is held, the line would be 2999-3004-3009-3013-3018-3023-3026-3029.

Potential levels, these.

The last traded value at 2981.75 is not too bad as it's well above the midway point of the length of the line mentioned in the first quote above.

And the bigger move earlier got topped off at just about 3004 where 3009 was expected to give trouble.

So it's not at all a bad close for me...except that it's rather noncommittal, the doubt coming mainly from the reaction at 3004.
The move really should have extended beyond 3009...or at least 2994 should not have been given up.

At exactly 2.40 ONGC and Reliance each lost about 20 points on two consequtive 10 minute bars...and so did the Nifty, which lost about 45 points from the day's high.
I'm not sure which other index counters were manipulated at those bars and who knows why...
The move was building up very well and the disposition would have turned distinctly bullish if it had gone on.
Perhaps the move will come tomorrow?? The market, or at least the index management counters do seem to be in strong hands, else the late day sellout would have been strong.

And finally folks...I'm from now on closing down this thread.
Any member who wants to track the Nifty and make postings hereafter, I believe should do so in a separate thread so that their stance and outlook etc on the Nifty may be recorded distinctly for people to track clearly.

Cross talk and being at odds with outlooks and projections, as the day drags on in the heat of trading, only muddles up the tone of any individual analysis.
That way there would be no mishmash of views and projections all in one thread.

This is my last post here on matters related to the Nifty.

Thanks for all the support.

 

[amitt29]

And finally folks...I'm from now on closing down this thread.
Any member who wants to track the Nifty and make postings hereafter, I believe should do so in a separate thread so that their stance and outlook etc on the Nifty may be recorded distinctly for people to track clearly.

Cross talk and being at odds with outlooks and projections, as the day drags on in the heat of trading, only muddles up the tone of any individual analysis.
That way there would be no mishmash of views and projections all in one thread.

This is my last post here on matters related to the Nifty.

Thanks for all the support.

Oh my God y are u closing this thread Amitji.
It was good for us newbies.At least me.

 

[alok]

Oooops... I hope it is not the end of nice and informative write-ups.... I miss Saint's thread with lot of matter to learn in those posts and now, Amit, I will miss you too.... I do not have words to express my thanks to you Both.... Only request will be to put up new threads somewhere in the forum for guidence to us....

Alok.

 

[pkjha30]

Hi Amitbe

I have no words to say. Even in your farewell writeup you gave enough points to ponder and an inkling of an astute mind

I congratulate you on such a long running thread, which never lost its relevance or depth of content.

I hope to see you in new thread to explore whatever is occupying your mind.

Wish you all the best.

With heartfelt regards for you, my friend.
Pankaj

 

[SGM]

And finally folks...I'm from now on closing down this thread.

.............................

This is my last post here on matters related to the Nifty.

Hello Amitda,

Wish you the very best for all your endeavors. Thanks a Ton, for such a great help your observations on nifty were for me.

Thanks and Regards
Sanjay

 

[karthikmarar]

Dear Amit

It is sad to see this great thread coming to a close. I am going to miss the Nifty compass. I suppose this too had to end like all good things in life.
I hope you would still around to guide us through our jouney to excellance in trading and investing.

Wishing you all the very best in your future endeavours...

warm regards

Karthik

 

[nkpanjiyar]

Dear Amit,

Your effort on this thread is most appreciated by everyone. Like Karthik, I too will miss this great pointer.

All the best on your next priority. Keep in touch and guide us whenever you are free.

Best Regards,
nkpanjiyar

 

[srisara]

take a break and chill out Amit.

Satya