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Where Do you See the Support Levels?

Discussion in 'Technical Analysis' started by shabbir, Mar 6, 2013.

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  1. shabbir

    shabbir Administrator Staff Member

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    The pleasure is all mine.
     
    shabbir, Apr 11, 2013
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  2. suniljoshikk

    suniljoshikk New Member

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    Hi kamat,
    I think trading range should be 5550 to 5650
     
    suniljoshikk, Apr 11, 2013
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  3. srspriya06

    srspriya06 Active Member

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    Today Nifty trades at 5641 levels. Only if it crosses the resistance of 5750 levels then it is a trend reversal. Else it is only a spike in downtrend and it is continuation of Downtrend . Am i rite?
     
    srspriya06, Apr 16, 2013
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  4. vishuhd1

    vishuhd1 Member

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    You are right.. Before reaching to 5750, Nifty has a resistance at 5690 levels and it should break that decisively with large volumes.. So, its still not a trend reversal as you rightly pointed out..
     
    vishuhd1, Apr 16, 2013
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  5. suniljoshikk

    suniljoshikk New Member

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    I think nifty range should be 5650 to 5750
     
    suniljoshikk, Apr 17, 2013
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  6. vishuhd1

    vishuhd1 Member

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    Shabbir,
    The link below gives the 6 months daily chart of the Nifty... My question is can we treat the 10th Apr candle as the pinbar?... The candle body is well within the price range of the previous candle (i.e. 9th Apr).. The tail of this candle is well below its neighboring candles and the closing price of the next candle (i.e. 11th Apr) is well above the close price of the pinbar candle...

    The only concern to me is that the open and close price of this candle is not very close... So, going by that way it may not be a perfect pinbar...

    http://chartink.com/stocks/nifty.html
     
    vishuhd1, Apr 18, 2013
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  7. sainath85

    sainath85 Member

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    Is this a Bull trap?
     
    sainath85, Apr 18, 2013
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  8. shabbir

    shabbir Administrator Staff Member

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    Yes it is pin bar but very skewed and so ideally I would not try and push myself to make it a pinbar
     
    shabbir, Apr 18, 2013
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  9. vishuhd1

    vishuhd1 Member

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    Sure.. Thanks Shabbir for your comments..
     
    vishuhd1, Apr 18, 2013
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  10. shabbir

    shabbir Administrator Staff Member

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    The pleasure is all mine.
     
    shabbir, Apr 18, 2013
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  11. srspriya06

    srspriya06 Active Member

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    Today Nifty moves above 5750 levels. Is it a breakout? will it be a Trend Reversal?
     
    srspriya06, Apr 18, 2013
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  12. sainath85

    sainath85 Member

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    I would wait till 5950+ for buy signal
     
    sainath85, Apr 23, 2013
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