1. DIYTechnicalAnalysis is a private community of traders and investors interested in building wealth from Indian equity market. You can become a member with a one time registration fee of ₹199. Click here to become a member

Nifty break down

Discussion in 'Technical Analysis' started by sanjay_sansanwal, Nov 16, 2012.

Page 1 of 2
  1. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important
    Solid break down in nifty formed M break down, time to be alert about our long positions cause nifty has breached its support of 5583 and also breached its 23.6 retracement level @5569 and made a low of 5560 but manage to close above that.

    Only chance to go up is if it will take support of trendline which is intact till now @ 5550-5560 or else it may test easily 5450 and if not stop there then 5300 level.:mad:
     

    Attached Files:

    sanjay_sansanwal, Nov 16, 2012
    Share #1
  2. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,702
    Likes Received:
    1,940
    Yes and after my trade in V-Guard, I am just away from market. Need to enjoy the profits as well.
     
    shabbir, Nov 16, 2012
    Share #2
  3. drsuraimardi

    drsuraimardi New Member

    Joined:
    May 3, 2012
    Messages:
    124
    Likes Received:
    1
    Occupation:
    Doctor
    Suddenly what happened to market.Many of the so called expert in TV were barking like dogs of 6000 level by Diwali and now all of them are again shouting for 5400 and 5300 levels.Should there be some punishment for such irresponsible barking in public places ? Because many innocent investors and traders are losing their hard earned money .
     
    drsuraimardi, Nov 18, 2012
    Share #3
  4. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,702
    Likes Received:
    1,940
    Taking words from your posts. Let the dogs bark and you just carry on. Actually market is a zero sum game and so someone has to loose money for others to gain.
     
    shabbir, Nov 18, 2012
    Share #4
  5. verenmitter2001

    verenmitter2001 Member

    Joined:
    Sep 22, 2012
    Messages:
    354
    Likes Received:
    12
    Occupation:
    IT, Education & Ex-Army officer
    Hmm
    So what should be the strategy now.
    Exit all position and re enter at up trend or wait n watch ?

    Regards
    Veren
     
    verenmitter2001, Nov 19, 2012
    Share #5
  6. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,702
    Likes Received:
    1,940
    Depends on your positions and if they are not trending in the direction you want them to, get out at stop loss.
     
    shabbir, Nov 19, 2012
    Share #6
  7. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important
    Nifty has taken support exactly @ trendline and made a doji candle, if today it close above 5600 then it may follow the uptrend.
    Big concern is political uncertainty, so better to watch carefully.
    today's up move is because of American's market.
    So just watch 5550 for down side and 5600 for up side.
    I am also holding some long positions but watching these levels carefully.
     
    sanjay_sansanwal, Nov 20, 2012
    Share #7
  8. verenmitter2001

    verenmitter2001 Member

    Joined:
    Sep 22, 2012
    Messages:
    354
    Likes Received:
    12
    Occupation:
    IT, Education & Ex-Army officer
    Thanks Shabbir and Sanjay for your valuable advise.

    Regards
    Veren
     
    verenmitter2001, Nov 20, 2012
    Share #8
  9. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important
    Nifty is testing the nerves of all retail investors, today also it seems that it will make doji.
     
    sanjay_sansanwal, Nov 20, 2012
    Share #9
  10. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important
    Today nifty has shown strength and managed to close above 5600 level if tomorrow also it manage to close in positive note and manage to close above 5627 then it will sustain the uptrend and may test 5800 level again.
     
    sanjay_sansanwal, Nov 21, 2012
    Share #10
  11. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,702
    Likes Received:
    1,940
    Yes Nifty is taking a toll on retail investors and I am sure many would be loosing tons of money in this move who don't understand the market.
     
    shabbir, Nov 21, 2012
    Share #11
  12. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,702
    Likes Received:
    1,940
    BTW one more thing which is the way USD INR is moving, it does not seem like there is too much of foreign money pushed into the market.
     
    shabbir, Nov 21, 2012
    Share #12
  13. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important
    Today Nifty has shown some strength and made a high of 5643 and close exactly @ the level I have mentioned yesterday now I am pretty much sure about uptrend.
    Only political uncertainty can change the mood now.
     
    sanjay_sansanwal, Nov 22, 2012
    Share #13
  14. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,702
    Likes Received:
    1,940
    And May be Kasab :D
     
    shabbir, Nov 22, 2012
    Share #14
  15. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important
    Nifty @ 5755, I mentioned earlier about uptrend and going up may touch 5800 also.
     
    sanjay_sansanwal, Nov 29, 2012
    Share #15
  16. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,702
    Likes Received:
    1,940
    :D Bingo. :D
     
    shabbir, Nov 29, 2012
    Share #16
  17. drsuraimardi

    drsuraimardi New Member

    Joined:
    May 3, 2012
    Messages:
    124
    Likes Received:
    1
    Occupation:
    Doctor
    Sanjay ! Well done .You are on the spot for nifty analysis this time.Well done bro !!
     
    drsuraimardi, Nov 30, 2012
    Share #17
  18. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important
    Be conscious now fdi bill is out and if today nifty close negative then it's 1st target is 5780-90
     
    sanjay_sansanwal, Dec 6, 2012
    Share #18
  19. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important
    Some how nifty manage to close positive but same view for tomorrow if close in negative it may test 5780-5790
     
    sanjay_sansanwal, Dec 7, 2012
    Share #19
  20. vishuhd1

    vishuhd1 Member

    Joined:
    Sep 1, 2012
    Messages:
    214
    Likes Received:
    15
    Occupation:
    Software Engineer in IBM, Bangalore
    Nifty closed 24 pts down in negetive.. So, is this a signal of tiredness in the market and is this time for some correction?..
     
    vishuhd1, Dec 7, 2012
    Share #20
Page 1 of 2