BULLS CAN YOU HOLD 3325?? LET SEE! VIEWS FOR 29-04-2009

Not bad, not bad! Each level did work quite perfectly, isn't it? It was clearly stated that 3422 will be the most crucial level to watch out for the day and we came below that on the opening bell and gave a bounce up to 3428 (gave a shorting opportunity), then as I told about 3388, it made low of 3386 and guess what , we got a bounce up to 3415 (another shorting opportunity) and guess what went further down and 3342 day low was recorded in line with the support given 3349-3330.

Now what? Another day and some other levels to work with. So today 3325 will be the key level to maintain the short term momentum. Though its not enough, yes we can certainly jump up to somewhere around 3425 in case we sustain above 3325, but 3425-3430 will be the levels for the bulls to cross to negate the bearishness entirely. So above 3325, we can get 80-100 point volatile (as we are on expiry) range to trade with. And below 3325? Dear friends, I'll be expecting 3270-3110 (yes 3110 will be short term target) without dampening the intermediate bullishness. So folks, be ready for a volatile but widely ranged day (volatile only above 3325). So for the day,

Support: 3325-3270-hushhhhhhhhh 3110!!
Resistance: 3379-3425 (in between 3400, but negligible)

All future levels!
(15 min chart attached)
Ciao!!

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VIEWS FOR 28-04-2009

3514 has done it again. While expecting 3540 for the day to initiate short, my first given level proved to be a tough task for the bulls and it sold off quite quick. Now for the day 3422 will be crucial and below which it will weak and will come towards 3388 and further 3349-3330 can be probable targets. The trading idea suggested on the 27th view will be intact (to book longs and take some PUTS around 3540-3570-3600). Intraday volatility will be on higher side due to the curtailed expiry. On the upside a cross above 3500 would bring some strength among bulls.So don't have much to discuss about,

Support: 3422-3388-3349
resistance: 3478-3500

All future levels.
Have a great day!

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VIEWS FOR 27-04-2009

Hi guys! Welcome back after a hot weekend! And i am back with my same old levels (thank god it doesn't change everyday). The charts I am going to post today is familiar with my first post where i clearly stated 3575 will be a crucial level to watch out for intermediate term. And it seems that we are heading towards the above given level. So, hold Your breath tight bulls, it's a big time for you people to defend your castle. Seriously we are going to face some big big hurdle on the upside now.


Now here's a 15 minute chart of nifty future attached to understand the very short term standing as we are heading towards a longer term hurdle. on that basis 3540 another resistance. So 3540-3570 will be some serious levels to consider. I would personally prefer to take some positional Nifty PUTS (PE) around 3540-3570 odd levels with S/L of 3615. It's fun to catch the top and bottom, lets hunt. So to sum up:
Supports: 3461-3441 (below 3441 we may head down to 3411-3397)
Resistances:3514-3541-3569-3605
All Future levels.

Have a great day folks!

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VIEWS FOR 24-04-2009

This is how amazing technical analysis is and this is how it works perfectly in order to mass psychology of the market. Again I stated that 3306 will be pivotal for the nifty and it reversed from the edge of that after making low 3313, and reversed big. Again i stated that above 3372 there will be more bullishness for 3425 and nifty did exactly that, even broke past 3425 hurdle. Now for the coming sessions bulls are again seem to take the upper hand and 3469/3482 is the next destination, and above that it can again blast all the way up to 3510/3534/3569/3605. Yes it can be that big. On the lower side 3410 holds the key for the day. below that 3381/3342 is possible for the day. 3342 will be crucial for the bulls to maintain the momentum. So to sum up the levels:

Supports:3410/3381/3342
Resistance:3469-3482/3510/3534 (will be crucial)/3569/3605.
All future levels.
Strategy for the day: Buy near given supports.
Have a great day!

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NIFTY: IF YOU GET THE LEVELS RIGHT (VIEWS FOR 23-04-2009)

After clearly stating about the 3405 level nifty we are still looking for good trades, isn't it? Yes that's the way trading is. Anyway, nifty was unable to cross the 3405 barrier and fell significantly after making high at 3397 up to 3286 (support told at 3291). Now the nifty is poised nicely for the next big move. We are in downtrend from very short term perspective and tested a very crucial medium term support. Though the exact level remains at 3268-3257 as stated in the blog in earlier post.I personally feel if 3341 is crossed, for tomorrow the main level would be 3372 on the upside where the bulls can face some serious barriers to cross that, but once crossed it will head towards 3425 levels, that means a serious 50 odd points movement will be on the cards. Above 3425 it will be a hold if somebody buys before. On the downside 3306 will be pivotal below which again it will bring 3291 and the main 3268-3257 levels into play. But all in all I honestly feel, tomorrow will be a great day to trade (Of course with good levels). So to sum up:

Supports:3306/3290/3268-3257;
Resistance:3341/3372/3403/3425
(All Future levels)
Have a great day folks!

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Views for 22-04-2009

Hi folks! Intra support 3322 worked and we got a decent bounce up to 3424 from the days low 3318 last day. Now today while posting the view for 21st April, not much really have changed as far as the shorter term scenario is concerned. We are still in the corrective phase in the shorter term and still waiting for a good dip towards 3250 odd levels to get into the market with medium term perspective. But the way 3330-3310 support is holding, it can very well give decent bounces from there instead of showing 3250. But i am personally hopeful to get 3268-3257 levels as posted in the earlier post. So for tomorrow,
Support : 3336, 3310, 3291,(3267-3257)
Resistance: 3405, 3420,3442,3481

Note: Not breaking 3336 can really push the momentum higher to take it on the upside (around the given Resistance levels). And a convincing cross above 3405 can show some more upside strength. All future levels.

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Now Shorter term unfolds!

Nifty could not get past the 3500 barrier convincingly, and made almost same high for 3 days consecutively. But technically that's not weak scenario rather it's symbolizing a state where bulls are getting tired. From the above picture the range 3269-3257 is clearly the biggest support zone for the Nifty in the coming few sessions. That means if the current uptrend needs to be continued 3257 will be the place for the bulls the to defend. So, a combination of a important support for fantastic short term uptrend @ 3255 zone and a crucial medium term resistance @ 3575 is indicating towards a 200 odd pts trading zone as long either of the two are taken out. For the coming session below 3322 it will weak and will head towards the given range 3269-3257 with another support lying in between 3291 (less important). So for the coming session:

Resistance: 3383/3413/3451
Support: 3348/3322/3291/3268-3257 (most important level to maintain the current trend)

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NIFTY BIG PICTURE: LONG TERM BARRIER 3575-3600

Hi friends, this is the first post I am adding up on my blog. And for some reasons I feel a longer term understanding is much more crucial rather than sticking with the short term views and getting hurt by the distortion of the extreme volatile situation. Once bigger picture gets clear we can take and trade with various short term levels and strategies. In the above picture the weekly EMA beautifully separating the phases of the market as u can see. And its clearing saying (taking previous occasions into account) 3575 is the main level (the big two EMA is converging). So my positional level for another fresh breakout for intermediate term is 3575. And now, lets look at a another chart.


The projection of corrective on the daily chart also implying 3575 as a top heavy place. So even if we do manage to cross the 3514 high in nifty future, don't be impatient. Do keep close eye on 3575.

Lets start a enjoyable and learning ride friends. God bless.

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A New Beginning

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