NIFTY INTRA DAY VIEW FOR 12-07-2009

Supports: 5070/65 remains as the key area. That zone was consistently defended by the bulls on last week. Below that 5045-5005 is crucial for longs, and for short term reversal if gets broken.

Resistances: 5191, the last high is BO level. But as shown above violation of 5170 on the upside can act as an early signal for impending BO. Above that 5225/35-5265-5315 is very much possible positionally.

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NIFTY INTRA DAY VIEW FOR 12-04-2009

 

Support: 5095 is the immediate support. But as it's been now discussed for few post, the most crucial support for this up move will be at 5065/68. This place is real strong and intra longs can be added for very quick gain with minimum s/l of 10-15 points. Below that 5040-5010 will be next target.

Resistances: 5142/45 s pivotal for the day. One should avoid longs in between below that, a break above that can show up last day's high 5190-5220.

We are simply in a tricky situation. Last time we fell from this level and currently scratching that again. From my personal experience I can say one thing. These are the times (impending top or a new break out) when traders tend to take trades quite early and get stuck with a fear that he would miss the rally. But take my words, these are time when we can get some best of the levels to enter if we just try to be little patient. All the best.

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NIFTY INTRA DAY VIEW FOR 12-03-2009

Having a severe net problem today. Uploaded only single chart pic in last 1 hour, so I am not uploading anymore as it's already 4:30 in the morning. So giving you the levels in stead of posting charts.

Trend is still up as long we are holding above 5065 zone. If you look at the pic above you can get the importance of 5065 once again, and wonder how fib projection comes again and again to our way, other way round convergence of these levels with earlier projection levels prove the validity of the place.

Supports: 5092-5065 is clearly the big place to look out/for long. We clearly have chances for newer highs on shorter term itself, as long these 2 place are holding up. Below that Nifty can easily show up 5015/20-4940.

Resistances: 5150-5170/74 remains a tricky band. I will not suggest to go long blindly even if we are still in an uninterrupted uptrend near these levels. Booking intra longs, and short near 5160-5170 zone with a small s/l around 5185 can also be done by aggressive traders as risk-reward ratio is favoring the trade.

Note: Keep eye on Reliance Ind. As discussed on Sunday, 1120 is proving to be BO zone. Yesterday it made a high of 1118.95 before retracing. A good volume break above that can show 1162-1190 in no time.

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NIFTY INTRA DAY VOEW FOR 12-02-2009

It's a clear bull show. Every single hurdle is crossed with ease and every target is being achieved. 5065 is crossed early morning and there were no stopping. I updated once about intermediate hurdle 5095 and that was crossed with mildest hiccup. 5110 and we just at threshold of 5145. Which should be considered as a very important closing basis resistance (posted on 26th Nov) for further confirmation on the shorter term chart (long term as usual bullish). Now take a look @ look at HL levels.

 

Quite clearly 5170/74 is the main zone again, same as the last time. Above that Nifty will breakout also on the short term chart for newer territories. Longs initiated above 5065-5095 can be booked there once.So for the day,

Supports: 5110-5090 is the most important for immediate moves. Longs can be initiated if we get the dip. Reversal on short term chart can come below 5065.

Resistances: 5145 closing and 5170/74 is clearly big zone and want to do some profit booking there from intra day perspective, though we are bullish. Above 5175, 5220-5250 is very much possible. Further gain can show up 5300-5350.

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STOCK UPDATE POSTED ON SUDAY.

Update for Stock charts.

Chambal: Link here. It's getting sticky @ 56 for last couple of days. So BO zone is still intact and playing as discussed on chart.

Unitech: Link here. Crossed 79 immediately the day after post and cmp 86.5. 9% in 2 days.. not bad.. :).

Suzlon: 79-80 BO zone discussed. High made 79.8 and 79.35 for couple of days. 

Reliance not closer to its BO zone.

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NIFTY INTRA DAY UPDATE

An ABC pattern completed at 5097, days high 5095.9 (minutes ago it was 5094.9), longs created above 5065 cn be booked here once, or can trailed with 5060. Good volume break above 5095 can target 5130-45 zone. NIFTY FUTURE cmp 5092.

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NIFTY INTRA DAY VIEW FOR 12-01-2009

The day was nearly perfect one. We hardly broke 4995 while testing twice after a gap above that at opening and just cruised ahead firstly exactly at 5040 and provided dip without breaking 5000, and hit exactly at the second and final resistance discussed on last post @ 5070 (high made 5072.5). Now I am re-posting one chart posted on the 26th day of this month. Just see how 5065 acted as pivot on closing chart for upper targets 5146. Please have good look....

Now see this, how the things panning out .. how 5065 works...

Supports: 4995 is important to keep the upward momentum maintained. Below that some quick decay can show 4960-4935, further supports will come @ 4895/85 and probably the last support before 4725 :-P

Resistances: 5070 or yesterday's high is the main hurdle. I will feel comfortable to book longs unless that level is taken out convincingly. Closing basis resistance on hourly is @ 5065 as shown above. Above that bullish move can very well bring 5110-5146 (closing)-5170.

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NIFTY INTRA DAY VOEW FOR 11-30-2009

Nifty is in corrective mode on daily basis but started an up move from the later phase of last day 's trading session. So the coming session may well be choppy but trade-able enough. 

Supports: 4935/18-4895 is big time crucial to maintain this immediate up move live. A convincing break below that can really turn the table in favor of bears again. 4840 can be another support below those levels which is likely to be broken for further targets 4715-4620.

Resistances: As we are talking about very short term uptrend (minute time frame), larger time frame is still under selling pressure and 4970-4995/5000 is immediate and quite important place, where some profit booking/shorts can be done. But if 4895 comes first and approaches 5000, it's likely to be broken for the final tgt 5040-5055/70 zone where this up move will be tested again, and can be the last shorting zone.

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TALKING STOCKS .... CONTINUED

Those who have missed the previous post ..do check it out. Here is a chart which can very well be a eye charmer for a chartist, but don't know how it's gonna perform. Every price moves has been so perfect that it's worth posting.

Chambal Fertilizer:

Unitech: 

Hope above posted charts have some logic and can meet some of your queries on these scrips :) .. have a nice sunday eve!!

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TALKING STOCKS

Number of very good friends of mine have requested me for some posts on stock also. I could not get time as I usually be enough confused with Nifty only :). Here are some efforts towards the Indian stocks rather than Nifty and a warm hello to my fellow readers. Take a look. To start off with ... obviously Reliance Industries.

Reliance Ind: In a bearishly choppy mode. Check the chart out, you will get to know yourself.

Suzlon:

Suzlon can be on the verge of breakout above 79-80 level for 90-110-125 for medium term. If 80 not crossed with good volume, traders can short with said BO level in medium term and accumulate towards 50-40 zone as a long term value pick.

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