NIFTY FIFTY

[AMITBE]

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.

Early session NIFTY attempted 2377 but fell back from 2379.
Then twice it bounced up from 2360 which finally got broken.
The fall does not appear to have velocity and holding out for now.
Above 2360 as of now, and on safe ground again.
There are jitters all round, so further decline can be expected.

 

[srisara]

Looks like NIFTY going the sideways.....

 

[AMITBE]

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.

Holding above 2360 and sidewards. Would have preferred it to be closer to 2370 in this movement.
There is a marked skepticism in the market as profit booking is coming at every rise.
I prefer a sideways consolidation any day to a fall!

 

[srisara]

looks like whenever its trying to go up above 2370, it is being pushed down. If this continues say for some days? What will be the effect?

Can we hope to see Nifty doing a Break- Out?

 

[AMITBE]

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.

NIFTY could not sustain above 2377 early and dropped back.
It remained between 2360-2370 pretty much all day and the market remained neutral as suggested above. 'Flat' is the term used in the parlance, but in perilous conditions like these where a sharp correction is being talked about, I'd rather stay with neutral or flat and consolidate for the upsurge later.

 

[AMITBE]

For Aug 17

NIFTY over the past week is meeting with strong resistance past 2375 and its repeaded attempts at crossing this without success is likely to weaken it. End of last week when it closed above 2377, it saw a surge to hit 2390 intraday but fell back again.

A couple more days of neutral activity would be welcome for it to build strength for an up move again. Else, another unsuccessful attempt at higher levels may surely push it down to 2335-2340 levels. If so, it may not be a bad thing in the short to mid term, as in this bull run it has left many gaps that need filling. The rise to 2400 levels still appears intact, but after enough strength and momentum have been built.

For today again, a crossover at 2377 and staying above 2380 is essential for a strong close.
To the down, 2360 has been a good support lately, and below this 2350-2355 should hold out.
Between 2360-2370 remain decent resting grounds.

 

[AMITBE]

NIFTY just cleared 2400! 2007 next?
And where then?
Expect profit booking or fresh buying?
Interesting to say the least.

 

[AMITBE]

At every new high one says that NIFTY has entered a decisive phase.
Yet at 2400 levels, this could not be more true as a poiter for the short term ahead.
2377, 2390 have all been smashed with great force and momentum, and the test is, if this is for real or not.

With the F/O expiry coming up next weekend the tussle between the bulls and bears is going to be ever more severe.

For continued strength, the NIFTY needs to hit 2420 and remain in that range if not higher.
2390 has become an important level, and below this, 2380.
It is probable that the NIFTY may be flung between 2390 and 2420 in the coming days.
Choppy times may well prevail.

 

[AMITBE]

For continued strength, the NIFTY needs to hit 2420 and remain in that range if not higher.
2390 has become an important level, and below this, 2380.
It is probable that the NIFTY may be flung between 2390 and 2420 in the coming days.
Choppy times may well prevail.

NIFTY shot up too far too early, and if the monentum wanes, expect weakness as the session progresses. Going to be choppy it seems.

 

[AMITBE]

NIFTY shot up too far too early, and if the monentum wanes, expect weakness as the session progresses. Going to be choppy it seems.

At 2390 now, and if this is broken, the fall may gain momentum. Past 2388 is 2380.
Could bounce back from 2390 though.
On the whole quite weak.
Perhaps not a bad thing if consolidates, as the next mid week is more crucial.