Supports: Sustaining above 5050 will be always good for higher levels. Below that nifty can get little weak, where 5024-4985 will provide the initial support.
Resistances: 5096 is initial hurdle, which was almost reached on previous high for Nifty @ 5089.6. Now crossing that (after sustaining 5050) can bring 5131-5162-5218 (IT MAY TURN OUT TO BE BIG PROFIT BOOKING ZONE), while close above 5162 zone will be super bullish and can nullify the topping out scenario and can move towards 5470-5545 level (positionally). Personally will try to go short/exit holding stocks now onwards on every up move around 5130-60.
Hi..Satyam,
ReplyDeleteA friend of mine who is quite experienced in the market who can not be impressed easily is quite pleased with your Nifty observations.
So I decided to add your blog to my list of blogs for the benefit of my readers.
Good work. All the best.
Best regards.
ilango
Sir,
ReplyDeleteI am short of words. For a learner & blogger of this market, this is the biggest honor he/she can ever get. I'll try with my utmost endeavor to study, understand and share my views with my fellow readers. Thank you for all. Regards,
-Satyam Sit
sir ur level and prediction of nifty is quite good sir i an new in this market and want to learn abt analysis of market so plz help me and one more thing sir plz also provide us levels and graph for script as well as u do for nifty
ReplyDeleteGood blog. I got your link from advanced charts blog. Keep it up, nice lucid presentation. I consider this blog as a Diwali gift. Happy Diwali!!!
ReplyDelete@ Aman.
ReplyDeleteAman, it's a joy to me that u found this blog meaningful, and about the learning analysis, I can share my own experience with you which is nothing but a self taught way, firstly u need have the idea of the basics of the market and analysis, and after a prolonged hits and misses with ur charts and trading u can find out the right system for urself. It is really a prolonged and never ending process. But to initiate ur journey towards ur goal u need some inventories consist of good books, analysis software, data and trading, based on ur study. I am giving few names of the books i found unavoidable.
Books:
1) technical analysis of stocks trend (edwards/magee)
2)technical analysis of financial market (john murphy)
3)Dow theory (robert rhea)
4)Fibonacci applications and strategies for traders (Robert Fishcer)
5)Mastering elliot waves (glen neely)
6)on market momentum (martin pring).
Softwares:
Metastock/amibroker
Data:
From numorous data vendor out there.
Hope this will put some light on your queries. Regards,
-Satyam
@ VK
ReplyDeleteThank you for your such kind words! I'll press hard to make ur diwali gift more meaningful and joyous!! Happy diwali to you too. :)