Trading-by-technical-levels

[manoharpillai]

The expiry is nearing and the TL is also narrowing down.... we are at the edge of some long waited decisive Move........ TL break out at 5685 and break down at 5630.. could happen soon to give minimum 100 points move either side ...... my expectation is on the down side to test 5550....... any shorts SL to be at 5708

 

[4209211]

Superrrrr job Manohar ji wonderful work am back on TJ after a long time but as usual aapka post padh ke all mind clear abt market please keep it up

 

[manoharpillai]

Contrary to my expectation Nifty gave breakout on the up side.. have to wait till tomorrow for fallow up action.. sustains above 5730 to give double top breakout.that can take nifty to 5770..5815
Fail to cross this level and drops below 5695...that gives confirmation of 100 point range of 5630 to 5730

 

[manoharpillai]

Failed to clear 5730 and there was no fallow up buying today that indicates the spurt on Thursday was a falls break out at 5680 and broke 5695 to test low of 5660.
Monday is going to be testing time..will it hold 5640 known as strong support area
In my recent observations i reiterated that Nifty index to test some lower levels before make any up move ....
Down levels i keenly watch are.. 5580..5550..5520 closing below 5580 could lead to hevy unwinding of long positions
SL for shorts is still at 5725 at any point close above this would see huge up move

 

[manoharpillai]

Happy Vijaya Dashmi to all TJ friends
Nifty holding on to its support around 5640..now look for break out levels with volume.5730..5750.
Nifty revers from these levels is confirmation of 100 point range 5650..5750
break out and close above this level we can see big surge ..for that have to wait for fallow up buying.. as of today market have no clear trend ..or direction sideways and consolidation
Long holders move sl to 5690 and shorts sl 5720 or 5750 ( i will not be holding shorts spot close above 5720)

 

[NANDAMAD]

Thank you and wish you your family and all TJ members happy Vijay Dashami .

 

[manoharpillai]

The chart tells the story of the month...it's rare occurrence 100 points range through the month, except that one falls break out to 5815.

 

[321Phani123]

The economy in India is definitely improving and that's the reason Nifty was able to break the crucial resistance of 5450. There was a small trigger in the form of QE3 and the world markets moving up and that helped the Nifty to move up. Now, even the Dow is not able to build on it's rally, Nifty is still showing up. The strength in the economy must be visible in this earnings season. Otherwise, the Nifty will not be able to sustain this ral;ly and will, for sure, come down.

Regards,
Phani

 

[manoharpillai]

All Nifty traders by this time know the breakout/breakdown levels.
Traders be cautious on breakout either side do not jump in to go short or long in quty...
watch intra day volume.
Below 5630 watch 5525 is gap break out level could be support.
5725 break out Res.. 5750..5815..5930
RSI14 can dip to 30

 

[4209211]

we would really appriciate ur todays comment on market movement