THANKS TO ALL OF YOU FOR YOUR RESPONSE REGARDING THE CLASS. LET IT COME IN. FOR FURTHER ENQUIRY PLEASE WRITE OR CHAT TO ME @ sit.satyam@gmail.com.
Wednesday, January 13, 2010
Supports: Market has closed weak below 5245, and eventually targeting 5185 initially as shown above. It's an important place for bulls. Violation of which can very well bring 5170-5140/20 zone. 5120 is really really big for bulls, and a probable place of resumption of uptrend.
Resistances: 5220/22 is big hurdle as of now. Above that 5248-5280 can be next hurdle on the upside.
Position view is still up, but intra correction still in place.
Tuesday, January 12, 2010
Again a slow day with some consistency in maintaining BO levels. Resistance and support discussed @ 5294 and 5250, acted beautifully but yet to give any valid BO on either side.
Support: Not much change in the market mood as everyone is waiting for a valid BO. 5250 still holds the key below which 5230-5200/5195 is possible again. A break below those levels can bring all important 5140.
Resistances: 5264/66 is immediate, above that nifty can again target 5295 and probably break this time. 5333/40 still holds good as discussed before.
Monday, January 11, 2010
Last session 5235 worked perfectly as well as the overhead resistance 5285. Nifty is witnessing intra day correction but as discussed on last few posts, holding 5230 will bring higher levels again.
Supports: 5250 is pivotal. Below that 5235/30 will be challenged again, violation of which can result in 5200/5195-5140. But as shown above, no positional downtrend is visible, as long we are above 5140.
Resistances:5290/94, above which 5303 will be challenged and much awaited 5333/40 can show up.
Friday, January 8, 2010
As discussed y'day, nifty made high exactly @ the given resistance of 5295, and started correcting for the day. It's still in a corrective range and truly it's quite difficult to trade the narrowest of range.
Supports: Sustaining below 5260 can extend the correction little more towards 5235/40 zone, which is arguably one the most crucial place. Holding that nifty can spin higher again. A fall below that a really show very speedy 5200-5140 (most important place for positional long/short).
Resistances: 5275-85 is big. Above that 5330/35 again possible as discussed.
Thursday, January 7, 2010
Nothing much inthe market unless a very side ways upward biased move with all target on either sides are in tact.
Supports: Immediate support is @ 5275 zone. Sustaining below that can show up 5258/60 & 5230 zone for next buying opportunity.
Resistances: 5295 is immediate, sustaining above that will again try for well discussed 5333/40, a profit booking and probable shorting zone.
Wednesday, January 6, 2010
Supports: Immediate support lies @ 5272 & 5260, sustaining below that, can target further downside towards 5250-5225, 5220 can emerge as a potential buying zone, in case immediate support breaks.
Resistances: 5295 is clearly the immediate one. Above that most awaited 5333/40 zone will emerge. Which can very well be potential profit booking and shorting zone with strict s/l above 5355.
Tuesday, January 5, 2010
It's a clear bull show again where tiniest amount dips were utilized as buying opportunity. We managed to break 5230 and traded quite convincingly above that. And finally closed just @ 5240. No downside level is broken, so no impending as of now, and still a buy on dips situation.
Supports: As shown on the chart 5230-20 is an important zone for support. Below that, as discussed on yesterday, 5205-5175 possible.
Resistances: As we are above 5230, positionally targets are 5295-5340/45. But from intra day perspective 5250 is important, above that 5285/95 is easily possible with higher targets of 5330-5340/45(main) in hand too.
Monday, January 4, 2010
From a bit longer term perspective Nifty still looks bullish from any angle, but very shorter term looks little stretched.
Supports: 5190 is immediate, below that 5170 is possible for the day. A convincing break below 5165 can bring 5140-5120 for he day. Short only advisable below 5165 zone.
Resistances: 5230 is indeed crucial above that 5295-5340-5440 is possible from positional perspective. Going long in handsome dips or aboce 5240 would be wiser than jumping in.
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