Nifty Perfect W

i had exited the stock market a bit too early in the recent rally but now i am using my cash load to invest lump sum amounts in specific stocks for short duration and exiting quickly with small profits .. painful strategy but while the market is all green, i am not very convinced abt its sustainability .. ur thoughts please ?

 

Foseco is a good bet at current rate.

 

is it time to buy nifty now for quick 100 points?

 

H shabbir
I would definitely want to go long in nifty as W is clear and showing good volumes too.
Whats your view.

Regards
Veren

 

Sorry I am not able to understand, which W u r talking about?
????

As per me it has to touch 5950 and most probably will breach that too and than sharp up move for new highs.

 

Shabbir I think is talking about the last leg in his chart (Nov 3 onwards).....

From 6350 fall..... then again upwards..... then again down..... and now in-waiting to complete tha last leg of "W" .... so, in those terms, the last leg is in the offing .... that should drag up Nifty to again (may be) 6300 if that "W" has to be completed.....

Please share your thoughts .... confused now ...

 

If so then W break out would be @ 6213 and Nifty Spot is @ 6077, so that is very far and no point to talk about that.

 

Sorry completely disagree.
View may differ sometimes.

 

Till it is below 6215 and 6135 it is in short term down trend as per me.

 

Till it is below 6215 and 6135 it is in short term downtrend, this is my views and will stick on that.
For me it will test 5950-5960 and most probably will breach 5950 even and then a sharp up move for new life time highs.

 

With today's (Nov 26) candle, its not a W that nifty is forming and looks to be in downtrend according to me.. If nifty breaches below 6000 in next few trading sessions, then we will have a trading range between 5900 and 6000... If nifty breaches 5900, then we can see more downside and may be levels of 5650.. This is purely my view..

 

First level 5950 if breach than find support between 5800- 5850 and sharp up move but if somehow manage to breach 5800 then only 5600- 5650 level and then sharp up move to make new life highs means 200- 400 points max downside from current level and from there around 1000 points up move for sure.
Those who r calling that it is forming W should at least wait for it cross 1st 6135 and 2nd 6215 and for me there is only 10% possibility to cross 6215 from here as per my knowledge, no matter when tapering will start but now it will not react major on that issue max to max 100-200 points to give the paint to retail investors cause they (FII+DII) won't leave the chance to play India n retail investors emotions.
This is my last post on Nifty here till 'IGNORE OPTION' will not available, so please be careful about your trades if trading in future and options.
One more thing is very important to point here that this is the best time to build portfolio.

Happy Trading,
Keep Smiling Always,
Jai Mata Di.

 

Completely agreed on part and parcel of market.

 

I have been out of the market for a while , I think NIFTY has support around 5980

 

I think W will not break before election .