NIFTY FIFTY

[AMITBE]

With a close like yesterday, 2400 seems most inevitable for the NIFTY. This is the final reckoning between the bulls and bears in this run.
Beyond 2400 is going to be a very difficult call, as surely all round profit booking (which would be the most sensible thing in markets like this) should happen.

For today, the spurt may come early in the session to press out the bears further.
If not, 2377 gets broken again, and things may get jittery.
On the up, lies 2400 , but for the record, on tech levels, past 2394 the upper band is 2406.

Downside, if 2370 gets broken with velocity, 2360 is where support should come.
2370-2380 would be comfort zone.

 

[AMITBE]

If not, 2377 gets broken again, and things may get jittery.
Downside, if 2370 gets broken with velocity, 2360 is where support should come.

NIFTY had dipped to 2361 some time ago and trying to recover at 2370 now.
The down pull is most persistant as of now. Things are intense.
2377 has become very crucial again.

 

[srisara]

great calls from u AMIT,

I think, the fight is intense now between bulls and bears. todays closing will have lot of impact on days to come.

also, Oil futures are a major worry now.

satya

 

[AMITBE]

If not, 2377 gets broken again, and things may get jittery.
Downside, if 2370 gets broken with velocity, 2360 is where support should come.

NIFTY had dipped to 2361 some time ago and trying to recover at 2370 now.
The down pull is most persistant as of now. Things are intense.
2377 has become very crucial again.

After the bounce back from 2361, NIFTY couldn't clear 2375. So the psychological barrier at 2377 is intact.
Now down at 2365 and fighting.

 

[bipin61]

informative stuff from amitbe

 

[AMITBE]

With a close like yesterday, 2400 seems most inevitable for the NIFTY. This is the final reckoning between the bulls and bears in this run.
Beyond 2400 is going to be a very difficult call, as surely all round profit booking (which would be the most sensible thing in markets like this) should happen.

For today, the spurt may come early in the session to press out the bears further.
If not, 2377 gets broken again, and things may get jittery.
On the up, lies 2400 , but for the record, on tech levels, past 2394 the upper band is 2406.

Downside, if 2370 gets broken with velocity, 2360 is where support should come.
2370-2380 would be comfort zone.

Nifty spurted at the opening itself to 2390, but as it could not clear 2394, which would have given strength, the nerves began to show up. After that it remained in the negative territory all day.
In fact for an extended period NIFTY traded between 2370-2376, and mostly the market remained sideways then, being comfort zone.
The volatility came below 2370.
Support at 2360 was indeed firm, as suggested above. And it is a good thing that NIFTY closed above this level, at 2361.55 after slipping a tad to 2357.
Levels like 2360, 2377, 2390 etc. will be important in the sessions to come.
Thanks.

 

[srisara]

Hi All,

Oil Futures above $67 and NYSE is crashing today.. There may be some impact of this on our brouses on Monday.

Correct me if I am mistaken or wrong..
Valuable inputs from Senior memebers, will help the Juniors to be prepared for Monday.

Satya

 

[AMITBE]

Nifty spurted at the opening itself to 2390, but as it could not clear 2394, which would have given strength, the nerves began to show up. After that it remained in the negative territory all day.
In fact for an extended period NIFTY traded between 2370-2376, and mostly the market remained sideways then, being comfort zone.
The volatility came below 2370.
Support at 2360 was indeed firm, as suggested above. And it is a good thing that NIFTY closed above this level, at 2361.55 after slipping a tad to 2357.
Levels like 2360, 2377, 2390 etc. will be important in the sessions to come.
Thanks.

Hi Satya,
Will post on Monday evening. Monday is Independance Day....from the markets too.

 

[AMITBE]

NIFTY reacted at 2390 on Friday and fell back to close at 2361.

Should the fall gain velocity, there should be support at 2345. Further down, 2335 is an important level where NIFTY gained strength and bounced in the course of the last week. (These levels should be valid for Wednesday too)

For NIFTY to make gains, it is vital that 2377 is crossed without hesitation early in the session. If so, then 2385 would be a great level at close.

Sideways movement would be good between 2360-2370 where the market would remain neutral.

 

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Nifty will react to the crude price coming tuesday. It is likely to get support at 2330-35 area. This down trend is not likely to last, as Nifty is still in the bullish mode. By the end of this week it is likely to close above 2385 and may be 2400. It is still in the bullish mode and this down trend will not negate the bullish trend.
Good Luck.