NIFTY INTRADAY VIEW FOR 01-22-2010

Review of the fall: 5225 & 5205 was discussed as a most critical support for the resumption of the uptrend. On 20th it broke down 5205 by making a low recorded @ 5195 and retested 5225 (reached 5229) but failed to sustain above. Immediate support discussed for 21st was 5180. Gap down opening created low @ 5183 and retested second pivot zone of 5205 (high made 5207) but again was unable to trade above that, thus creating a shorting point. Today will first give the positional views.

From positional perspective 5185 and 5235 are biggest hurdles as of now. No Reversal of the new downtrend can be possible below that.

Support: Immediate support lies at 5080 again. Open-low same can bring some chance for intra day longs for 30-40 odd points where as a gap down below that will immediately bring 5026/20-4990 and finally 4970 zone, below that further crack towards the levels given on the above chart.

Resistances: Now we are in zone where resistance are more precious than supports, and that's only because of shorting opportunity. 5105-5135 are such levels as of now. In case we go above that, 5160-5185 will be another shorting band.

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NIFTY INTRADAY 01-21-2010

First we broke below 5230, then 5205 and thus initiated a positional short in nifty. Classical charts are giving short sell signal from it's intra day movements. Things discussed in the online class was so profound on the chart yesterday. Hope my students have enjoyed the move and did the right thing!! Anyway, breaking 5205 was not good, and moreover it bounced from 5195 and 5230 was again retested and failed to cross above that level, thus making it a sell as of now.

 

Support: Immediate support is @ 5180 as discussed yesterday. 5160 is coming as a critical support zone, holding that it may witness some recovery for the day. Below that 5145/20-5080/85 is possible in no time.

Resistances: 5205 and 5230. Above that some recovery possible towards 5265-5285.

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UPDATE OF "TALKING STOCKS"

Friends, I did couple of post on the day on 27th November,2009 named "TALKING STOCKS" and "TALKING STOCKS CONTINUED", where 4 stocks were discussed namely Relaicne Ind, Suzlon, Chambal fertilizers and Unitech. Here are the updates: 

1. Reliance Ind: told that 1120 is important hurdle, above that 1175 possible and above that long term buy is visible. Broke out 1120 and reached 1150 but never crossed 1175.
2. Suzlon: Told above 79-80 , targets of 90-110-125 is possible. High made 95 , Cmp 88.
3. Unitech: Told that buy near 73 is possible. low made 72 and went up to 92. Cmp 85.
4. Chambal fert: Told breaking out 57.5-58 is big for bulls. High made 66.5.

Thank you..Cheers!

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NIFTY INTRADAY VIEW FOR 01-20-2010

Starting with a very new kinda observation today. Have a serious look. It's interesting :)

 

The first chart say can lotta things. The movements of few EMAs are perfecting clarifying the complicacy in it's movements. History certainly repeats. But how that is important and somehow critical to find out.

Support: Clearly 5212/05 is biggest support now. Holding that nifty again can move up. Below that positional target of 5180/60-5140-5115/10 will be in play.

Resistance: Sustaining above 5230/34 is important. Above that 5260 and 5275 can be targeted again. Violation of 5295 would see newer highs as targets are 5310-5333/40.

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UPDATE ON CORDS CABLE

The view posted on CORDS CABLE on 15th of January, with a closing price @ 50.85. Currently trading @ 56.35, almost 12% up from the suggested level.  Cheers all!!

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NIFTY INTRA DAY VIEW FOR 01-19-2010

 

Nifty came down and bounced from just above the discussed support of 5225 (low made 5232) and trade at least half of the day above 5275 while making a high of 5290. We are poised slightly biased on the upside for the session to come.

Supports: 5252 is immediate, below that once again today's low may be challenged, and a convincing breakdown below 5225, can certainly bring some weakness in it for 5170-5145/25.

Resistance: 5285 as shown on the chart, above that 5315 can be targeted with further targets 5330/40 in hands. 

Except the intra moves, accumulating put/writing calls near 5330 zone from positional perspective can be a better idea. Almost a similar but clearer view is posted by Ilango Sir in his blog, so I am here giving out the link Here.

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NIFTY INTRADAY VIEW FOR 01-18-2010

 

Support: The lackluster movements of nifty is yet to witness any BO as shown on the above pics. Important support still lies @ 5245 give last day (low made 5245) and @ 5225. Holding these two levels nifty can regain momentum. Below that 5190-5170 and main support 5145-5120 are possible.

Resistances: 5275 still in tact. A volume BO above that can bring 5330/40 where it will be tested again.

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CORDS CABLE

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NIFTY INTRADAY VIEW FOR 01-15-2010

We discussed about the possibility of 5145/25 below 5185/70 in the 13th January post.

Supports: So, clearly 5245 and 5225 is the key right now. And as discussed yesterday, a upside hurdle @ 5275 zone will be a indication of the corrective move on the upside. Below 5225 it can target again 5180/70 and 5145-5125 level, to decide it's further course of journey. Till 5125 holds, the target of 5330/38 is in tact.
Resistances: 5275 is initial. a good volume BO above that can certainly bring some strength to it. A cross above 5295 will be an early indication for impending targets of 5330/38.

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NIFTY INTRADAY VIEW FOR 01-14-2010

We certainly discussed the immediate bearishness along with the positional bullish view on the last post. Nifty exactly did that by starting weak by making high exactly at 5221.25 (resistance discussed 5220/22) for the day and ending on a high note from the support level of 5175-5170 (low made 5176). So nifty has already managed to hold onto it's one of big support level and looking for an another heard up towards the 5265-85 zone before deciding it's further move. The positional view of 5333/40 is still intact as long as 5140/5120 is holding for the bulls.

 

Supports: Up move from 5176 is having it's immediate support lies @ 5205 zone. Sustaining below that it can again target 5170 and well discussed 5145-25.

Resistances: This upthrust can make nifty move towards 5265/75 initially and 5285/95 after that. Long initiated around 5185 can be booked here once and can be reconsidered above 5295 again. Above that 5330/38 will be targeted.

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