Trading-by-technical-levels

[Sultaan]

hope it holds cause else it will break down to 12k levels....

 

[manoharpillai]

Nifty destination 6150 and sensex 20100
Happy Diwali in advance to all as a trader will keep my SL at spot nifty 5680 on closing
Pls. note these targets are not for Diwali.. might come at even later days too
and do not take any option positions based on this statement.

 

[manoharpillai]

hope it holds cause else it will break down to 12k levels....

Yes 12900 breaks strongly for a day or two its -ve

 

[manoharpillai]

Nifty Low made 5678.. and closed at 5686 Still there is hopes for bulls and to my TA.targets given above to hit.

 

[dashr]

The rally has lost momentum since entering overbought levels on RSI(22). This is the first overbought levels on the weeklies in the last two years. This sideways movement is a healthy correction.

 

[manoharpillai]

Spot Nifty closed at 5684.. The trend slowly tilting in favor of Bears.
Fail to clear 5780 would result in big sell off, Market moved in narrow range
for very longer period of time.. watch out for big move soon.
Closing 5680 is trend reversal and anything below 5580 will give 100% confirmation
for start of a bearish trend.

 

[manoharpillai]

On 13th Nifty broke 5680 and closed below then to test 5603 today.
The final and very crucial support at 5580. Only consolation is world markets sold off much more than our market possibility of bounce from the lows.
Tomorrow Res. at 5647 and 5672.... above 5691 trend change again to bullish.
Present range 5580 to 5780.
5580 is not broken the range to continue.

 

[manoharpillai]

Trend turned negative below 5680 and Final sup. at 5580 said it in earlier post.
The final knock out punch at the end hour of trade on final trading day of the week is a technique used by big players
we as a small traders seen it time and again still many would have fail to make out when it will happen..
Nifty broke 5580 and closed below at the end.
We may see some spurts at times but rest assured our market is in for big sell off as per my chart reading.
As a trader all ways keep Sl for short trade which is at 5670 on closing
Res. at 5610 and 5640
Pls. note all world markets are in over sold condition possible of retracement
2 to 3%

Get ready for big bear market

 

[trade4putuval]

Trend turned negative below 5680 and Final sup. at 5580 said it in earlier post.
The final knock out punch at the end hour of trade on final trading day of the week is a technique used by big players
we as a small traders seen it time and again still many would have fail to make out when it will happen..
Nifty broke 5580 and closed below at the end.
We may see some spurts at times but rest assured our market is in for big sell off as per my chart reading.
As a trader all ways keep Sl for short trade which is at 5670 on closing
Res. at 5610 and 5640
Pls. note all world markets are in over sold condition possible of retracement
2 to 3%

Get ready for big bear market

It is a nice feeling to be technicals-aware!!!:clapping:

When nifty was above 5750, we had the indication from the charts that the tops will not be taken out :thumb:, but at the same time, when we see the news, analysts were shouting 5900, 6100. In addition, we even saw large FII buying volume. This would have clearly misled the traders.

Even I am of the view that there will be a bounce back from this price, since it stopped a little short of the support line drawn from the previous lows!

I follow ichimoku and 315 strategy. So if this support is taken out, the next major support is 5487 (bottom of the cloud). If this happens, RSI will move into oversold zone.

Glad to contribute!:cheers: