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Make Sure You Don't Get Caught At Higher Levels On Nifty
| From : Bhikka Modi at 09:10 PM - Jan 30, 2010 ( ) |
Share it on FacebookMy Levels for Nifty from here 4960 , 5050 break & close above this for 2 consecutive days with volumes then 5150-5180 (chances very unlikely)
Downside Support 4500-4700 (will break in coming days) Next 3700-3800 , Next 3300 & God Forbide if this breaks we will see NEW LOWS in the making for sure 1800-2000 , Scary ? it is but that's what long term charts & Global Economic Fundamental conditions are suggesting.(US in particular)
I am new to Mudraa been 2-3 days but i read few threads from Mr. Syam & can already see he's really good at technicals & would request him to take a look at the long term charts cuz if he did alot of ppl will save alot of heartache.
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I TOTALLY AGREE WITH MR SACHIN ----THIS POST IS ONLY TO CREATE AN atmosphere of distrust--as market is supreme and ups and downs r there --but OLD post being brought back does not give good impression at all---of course i admire good calls by mr akash on ril---and his good postings as such--ALL PEOPLE WHO POST ON THE SITE ARE HELPING THE MEMBERS when they give good stocks
sachin pra ji.................
general awareness................sir ....general awareness....
so tht no one stuck in this ....just by seeing sensatinlising words about 3300 0r 1800 in nifty.................sir..........................
okkkkkkkk sir....i hope u understand..........
now lets concentrate on tomm trade as dow -80 right now......
ok sir....
Check out the world, everybody is blaming and pulling leg of each other...owner even is not being silent :)
Akash i hope im not offending you but have just written just some words of wisdom definitely needed so that a good ethical environment prevails..................
Happy Trading.......
Com'n Akash,
This is not done.............This is ridiculous and unjust on your part to malign others.When you say or ill say demand others not to write in your thread (Post),at this instance you are not preaching what you say since you are writing on others Thread.
Further when your short call which you suggested at about 5480-5520 range (Dated Aug 26,http://www.mudraa.com/singlepost.php?messid=63066) got triggered by stop loss (Even when you claimed 500 Pts on the downside),no one whoever posted yelled or pulled your leg.Everyone encouraged you by saying that this time stop loss got triggered no problems,but here you are not setting a gr8 example by just getting old corpse out of the grave even when this will not do any good for anyone.
Mate No one in markets is supreme hence losing less is the only key to earning more.Further ur short call gave some 100 Pts. on the downside but it was not booked leading to a net loss of 150 Pts.(100 Pts. in profit and 50 Pts. Stop Loss).No One can ever succeed neither in bottom fishing nor in top calculation so booking profits at regular intervals is the only key in any markets (A bird in a hand is always worth two in a bush).See people thought market will loose its grip at 5350 levels but market gained strength at that levels and made a new high.This will be repeated day in and day out....Pls try not to offend anyone "Market does not work on what we feel,but on what it feels is right" I won't be surprised to see market showing 5650-5700 levels even 5350 as trend was and will always be a friend for me.
As you have the right to cast ur suggestion,in this case our colleague Bhikka has also voiced his thought never said to go for it.It is we who decide the what it is to be done............
Happy Trading............
ANY UPDATE:
MKT RIGHT NOW AT 5600.........................
BUT HERE WRITTEN 3300......AND THEN 1800................
YES GUYSSSSSSSSSS DONT SURPRISE.............ITS WRITTEN HERE 3300 AND AFTER THT 1800...............................
BUT RIGHT NOW 5580...................ANY UPDATE WHEN WE TGT OF 3300 WILL ACHIVE AND AFTER THT 1800......?
i really do not understand the discussion here---is it about nifty these days --an old post brought to discus nifty levels--?
Keep Eyes on Dollar Index... 3 consecutive daily close + 1 Weekly above 81.30 another short covering Rally will start in Dollar Index which means All Emerging Stock Markets are gonna continue falling again...... 3 consecutive daily close + 1 Weekly close below 77.60 the Bull Run for Dollar Index is over .....Dollar will be down in dumps....
If Nifty breaks & closes above 5150 for 3 Consecutive Sessions & a Weekly Close then we will see "A Trend Reversal" taking place & the target for Nifty will be 5650 & Sensex 19000 which ever is earliest on these 2 Indicies. This is Purely a Technical View
My Personal View of this happening is "very remote" but this is Indian Stock Market .....nothing is impossible.
If Nifty breaks & closes below 4500 for 3 consecutive sessions then Next Major Support for Nifty will come @ 3700 consider +/-50 , you might hear alot from other Analyst/Anchors on tv about 4400,4200,3900 but if you look back at the long term Nifty chart u'll realise that after Election result Nifty could break past 3700-3800 levels prior that Nifty was struggling around that level, there is some 200 points gap to be filled in that area ,CandleStick Pattern Chartist will understand the importance for that gap to filled up if the Bull Run on Nifty has to Continue further without any major breakdown in months to come.
Thanks a lot Sir.. I am holding delievery based shares only... Pls keep us updated... God Bless you..
Sahil depends what you are holding Delivery based Stocks or F&O ,in any case huge support will come in the range of 4500-4700 on Nifty cuz 200 SMA is around 4600 levels then 4540 level will also act as a big support cuz when Nifty fell in Oct'2009 that was the low from where it rallied upto 5310 ....so unless 4500 gets taken out i would'nt suggest Selling Delivery based shares at this point of time , i woun't be buying either right now cuz market is falling like a sharp knife...let the dust settle ..
Thanks a lot Sir Jii.... Shall I sell and wait for more downfall or is there any chance of pullback??
Dear Bhikka ji, I agree with you...I was mistaken with each month individual data whereas you were pointing to the consolidated figures...
For the period you said,we saw FII as net sellers for October 2009 and January 2010,then the dubai crisis for November 2009...All these things made them net sellers from October 2009 to January 2010...So such factors have to be considered...
Anyway,I also believe that...
WHEN NORMAL TRADERS PANIC,FII BUYS...
&
WHEN NORMAL TRADERS BUY,FII SELLS...
At 5200-5300,we saw so many mutual funds and normal traders running to get stocks targeting for NIFTY 5500 and above...
Experts predicted a 5-10% correction then before heading for 5500...
Now by touching 4766,we have seen a healthy correction of over 10% from 5300...So i guess,now it's the time to buy
...
yes, finally, all of you will say that buy buy buy, at the same time professional traders will start selling. novice(including me) traders, stuck their cash......alash..!
Read the link & u'll get some insight to what's actually going on & not just listen to babes on business channels , technical analyst selling rosy glasses to innocent investors & traders. http://www.marketwatch.com/story/banks-not-loosening-credit-yet-fed-reports-2010-02-01-141600 http://www.moneyandmarkets.com/the-next-contagion-2-37578
Mr Sandew i can sense the Sarcasm in that , well we are dead in longer term for sure......but when you know that longer term won't be long enuf just 18 months or so from now it gets Scary.
Mr. Amar the global economic conditions are too lengthy to explain in short time but u seem keen to know about it so for that reason i have posted the link to My MarketWatch Pofile in the thread there are some 81 Comments ,go through all those comments & that will provide you enuf insight. I have mentioned Support 4500-4700 (will break in coming days) Next 3700-3800 break & 2 Consecutive WEEKLY close below this the Next Support is at 3300. My personal belief is that market will get huge support around this but if this level breaks & closes for 2 Consecutive MONTHS Then ONLY we'll see NEW LOWS in the making. Which would be in the Range of 1800-2000 on Nifty .Time Frame for all this is 18 months Max.
Mr. Shailesh that's for you to choose & decide cuz your talking about short term trading call , where as i take positional trades. I'll be waiting for markets to rebound in the coming weeks to around 5050 - 5150 levels to Add Shorts with a STRICT STOPLOSS at 5250. to be on the safer side cuz Asian Markets are easily Manipulatable cuz Dollar is still the Strongest Currency in the world & i have been bullish on it since Nov'09 , reviewed it in Jan'10 & still continue to be bullish on it.
MR MODI, SO at 5080 should we go short? or buy now at 4872 and wait for 5080?
Mr. Modi, you have mentioned that 'Global Economic Fundamental conditions are suggesting(US in particular).' for a long term downtrend . Will you kindly illustrate these in detail? you have also indicated about new lows in future. Kindly, put your timeframe as well.
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