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NIFTY - Resistance

Discussion in 'Technical Analysis' started by sujan4bw, Aug 14, 2012.

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  1. shabbir

    shabbir Administrator Staff Member

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    Wild swings expected.
     
    shabbir, Sep 24, 2012
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  2. sujan4bw

    sujan4bw Member

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    Last week Nifty has resistance in range of 5710 - 5735. See below facts.

    I checked Fibboancci series in Weekly chart where 5706 is at 61.8 which is main level,

    Nifty this week should cross 5750 levels above to continue the momentum. I had attached both daily and weekly charts.

    21-09-12 - High - 5720
    22-09-12 - High - 5709
    23-09-12 - High - 5702
    24 -09-12 - High - 5672
    25-09-12 - High - 5693
    26-09-12 - High - 5735 but closed at 5699.
     

    Attached Files:

    sujan4bw, Sep 30, 2012
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  3. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    So finally u learned the Fibonacci, in starting it looks very complicated but it is very simple calculation.
    Right.
    But don't think it will work on every Occasion, it can give u better result if using with some more tricks.
     
    sanjay_sansanwal, Sep 30, 2012
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  4. sujan4bw

    sujan4bw Member

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    Yes finally understood and applied it on chart. Let me know the tricks to apply as well.
     
    sujan4bw, Sep 30, 2012
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  5. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    sure I will update u time to time.
     
    sanjay_sansanwal, Sep 30, 2012
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  6. sujan4bw

    sujan4bw Member

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    Shabbir, today nifty opened at 5815 and LTP is 5625. Do you know any reason why ?

    Friday effect?
     
    sujan4bw, Oct 5, 2012
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  7. shabbir

    shabbir Administrator Staff Member

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    May be but there was lot of pump by our finance minister to get things moving for India and congress.
     
    shabbir, Oct 5, 2012
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  8. sujan4bw

    sujan4bw Member

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    Trading on NSE Halted from the exchange. May be to avoid panic selling.
     
    sujan4bw, Oct 5, 2012
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  9. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    There is some technical issue in nse, don't get panic.
    Wait for a moment.
    After that problem can be resolved.
     
    sanjay_sansanwal, Oct 5, 2012
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  10. shabbir

    shabbir Administrator Staff Member

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    No it cannot be panic causing the stop in trades unless there is a circuit on the exchange.
     
    shabbir, Oct 5, 2012
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  11. sujan4bw

    sujan4bw Member

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    Thanks Sanjay for the Info. check HLL and HCL...hu much they fallen.

    HLL - 563 - 444
    HCL - 592 - 534.

    should not get it panic as there is some issue with Exchange.
     
    sujan4bw, Oct 5, 2012
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  12. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Follow bse rates to update.
     
    sanjay_sansanwal, Oct 5, 2012
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  13. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Problem resolved in nse.
     
    sanjay_sansanwal, Oct 5, 2012
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  14. sujan4bw

    sujan4bw Member

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    yes now again it is trading at 5757.
     
    sujan4bw, Oct 5, 2012
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  15. sujan4bw

    sujan4bw Member

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    HCL and HLL are trading correctly now.
     
    sujan4bw, Oct 5, 2012
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  16. shabbir

    shabbir Administrator Staff Member

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    All's well that ends well. :D
     
    shabbir, Oct 5, 2012
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  17. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    That is why I use mental stop loss.
    Now it is interesting to see what nse going to do about those trade which have executed in between.
    Cause there will be so many which have executed because of mental stop and fixed target.
    If nifty is going to do null & void these trades or not.
     
    sanjay_sansanwal, Oct 5, 2012
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  18. sujan4bw

    sujan4bw Member

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    did we face this kind of situation earlier ?
     
    sujan4bw, Oct 5, 2012
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  19. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    yes, on 15th may before.
    And if Market wants retail investors then these trades should be null and void.
    Lets see.
    I am not going to trade today.
     
    sanjay_sansanwal, Oct 5, 2012
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  20. shabbir

    shabbir Administrator Staff Member

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    Great decision and yes mental stops are always recommended and this is what I have in my ebook as well but for different reason.
     
    shabbir, Oct 5, 2012
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