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For tomorrow 24.11.2009
Pivot 5090
support 5066,5029,5005
resistance 5127,5151,5188
Today RSI(14) at peak 82.82, from tomorrow RSI will start declining,
hence if nifty spot closes bellow 5086 then short position can be taken for wednesday and thursday. bellow 5086 strictly avoid taking long positon.
today inspite of rise in Sensex its 20 shares were advancing and 10 shares were decling, after 11.30 AM entire day market remained FLAT, again FIIs were netsellers today. Momentam indicator has also started declining ADX has gone bellow 25. these are sign of weakness.
...
Does a Rising Sensex implies rising rupee, the answer might not be to your liking visit niftywhatcanhappen dot blogspot dot com to know the details...
Uptrend To Continue
The indices ended last week with minor gains but managed to
close near the highest point above the psychological levels of
17000/5000. The level of 17100 repeatedly provided resistance
and triggered a quick 500-point decline that was healthy for the
uptrend. The technical set-up continues to be strong hinting at
a move above 17100/5074 early this week. Once confirmed the
markets would not take much time to test the Oct 09 highs and
even move closer to the next major resistance area of 18000-
18300/5270-5300. The trading base remains in the form of
16600/4900 and any decline close to the same should be used
as a buying opportunity. The technical oscillators are yet to see
any divergence on the short-term charts, which only means
that the positive momentum is intact and should lead to a
“higher high” on the price action. Given the strong uptrend, the
moving averages would continue to play a crucial role going
forward by providing support during any and every correction.
We maintain our long-term target of 7000/23000 that should be
tested in the second half of next year. The Banking, Oil&Gas,
Capital Goods and Mid-cap sectors are likely to outperform.
The DOW (DJIA) looks on course for 11K in the near term.
Patterns – The Completion of “V”
The minor “Double Top” bearish pattern that had developed on
the hourly chart in the middle of last week saw its target of
4930 being achieved last Friday. The set-up is much cleaner
and stronger now as the indices resume their “V” shaped
reversal process that should lead to 17500/5170 this week. A
new bullish “Engulfing” pattern can also be spotted that would
restrict downside in the near term.
Neyveli Lignite – Star Performer
The stock has confirmed a major medium-term breakout in the
last couple of weeks that should lead to super normal returns
over the next couple of months. A move beyond 200 can be
expected with downside capped to the 135-140 zone.
ITC – Selling In Injurious To Financial Health
The stock is likely to begin the next big phase of its mediumterm
uptrend that should lead to a move towards 300 in the next 4-6 weeks with stopover around the 277 mark....
Hi,
Could you please suggest me which is the best Technical Charting website/Software for Intraday /Intermediate trading analysis in BSE/NSE.
Thanks
Joe ...
you are right....
TO DONVITO,
You into marketing...Which company and location...
Rajesh saab
Irony is neither my marketing knowledge is so good nor the other stuff you mentioning about in your post, so I would extend my apologies if I am disappointing you both ways.
Shama karey maalik!!!
Cheers and have a great weekend!
Donvito...
ok in 2010 end mkt looking 23900-25009 ?...
Chief,
appropose, a saibaba quote;
“Give up all bad qualities in you, banish the ego and develop the spirit of surrender. You will then experience Bliss.”
Sri Sathya Sai Baba
...
thank`s a lot chief for your concern about me this type of unity and strength will give a new look and new dimentions to this board and to every boarder in my view and my wish is that we all should be helpful to each other like friends because this mkt can do any thing any time and no one can predict % in any means.so just can post our views on mkt and stocks cant pin the mkt according to our desired trgts.
thanks
rupesh ...
Well Technicals of this markets are getting a bit heavy, even the best of technical analysts are not able to tell the direction of markets, retail segment is not buying a lot there is plenty of fii buying in cash segment and dii are selling so it means that nifty will head towards 5300 very correct. because it always happens, well it also happened in 2008 when during the expiry the positions were not rolled over and what that ment was that no one was able to hold the market at any resistance. well the outlook remains bullish and every one is talking about higher levels.
s&p has now a target of 1160 very good but just to remember that 1100 is 50% fibonacchi retacement level for s&p the level from where it is supposed to correct not go forward.
long term charts indicate that macd of this market is same as that of sensex at 21000 and going doun and has given a sell signal. the slow scotch is also suggesting a downside.
well i dont know how many members agree with this but i think delta neutral options are the only way to trade this market and buying on a dip now could well mean not catching a falling knife but may be a coming bullet.
my advice is be very very cautios and dont hold futures
hoping for nifty at 5500
regards
Ashish Sao
a_sao@hotmail...
rupesh711in-Dont have to say thanks Rupesh!!We are all for you!!We are there to support you so that you can be totaly normal and do not have to alter your profile detail any more!!
...
yes you are not a alone dear
we all with you...
thanks friend for your support to change myself for ignorance/avoidance for such persons.now i am normal as before,but one thing in my view got better that all good boarders got united for each other that made me much strong that i am not alone.
rupesh...
good rupesh and welcome
ignore wrong person and injoy the life and profit...
