Trading-by-technical-levels

[manoharpillai]

Nifty opened with a gap and attained high of 5711. Closed at 5698 A Res. area.
As it did on the upside breakout at 5730 made high at 5815 then fall back to trading range of 5640-5740. Same kind of thing happened on the down side too broke the range for 2 days and then back in to the range.
Spot Nifty sustains above 5727 possibility of testing higher levels of 5815.. 5880.
I still feel market to go down first (5580 become good support now)before make any attempt towards 5900.

 

[manoharpillai]

Weekly Nifty chart Big break out on 10th sep. 2012. at 5350 to test 5800 nearly 7 weeks price unable to break above 5800 level.
TL Res. at 5770 as long spot nifty close below this level on weekly basis down side TL support at 5250 and 5050 is open.
on event of breakout above 5770 TL Res. comes at 5940

 

[manoharpillai]

Gap up On Friday and sustained Today (Monday) too watch this level 5660.
spot nifty sustains above this level and breakout of 5730 will see huge spurt towards 5900
on the other hand breaks this level and close below 5580.. next sup. comes at 5520 and 5470.

 

[manoharpillai]

Nifty closed to it's near Res. level of 5730 with pity low volume.
It is very difficult to predict technically, when market is awaiting for an event to unfold.
US election and the result will finally set the sentiment tone all over the world mark.
To sum up 5730 is RES. and 5670 to be a Sup now on closing basis.
All awaited Diwali too at close distance possibility of a rally.

 

[manoharpillai]

Closing above 5730 is positive will watch this level and the fallow up buying,
as expected 5770 Res. in my earlier post looks like a barrier look out for this level on closing basis.
The expected event of US election results are out.. is it buy on rumor and sell on news..!!
Though Market keep moving up in a very low volume..Technical our market is strong unless it breaks 5680 which is the TL support and gap up level on a daily chart.
For tomorrow 5720 and 5680 are the levels for support if at all any strong correction unfolds.
We all know 5815 is going to be stiff Res. area.

 

[Neo_trader]

Gap down is expected as US market fell drastically ..

 

[manoharpillai]

Gap down is expected as US market fell drastically ..

Watch Dow spot closing .......200 DMA is at 12990

Dow Fut. Index Chart with 200 DMA

 

[manoharpillai]

Again Nifty closing above 5730 is good indication for a rally Targets 5810..5880..5930
SL..5680

 

[mravi]

Hopefully DOW will take support at 200 EMA.

 

[manoharpillai]

Dow 12900 holds its good sentiment.
I for one looking forward a blasting rally in our market a Contrarian call.