Nifty Future Fills the Gap, Poised to Test Resistances ?
Update for 9th March 2011
Nifty Future Fills the Gap, Poised to Test Resistances ?
- We had indicated in the last post that if the gap between the candles of last Friday and Monday is not filled in the subsequent few days, Nifty futures may be forced to test the lower supports.
Markets Rally Hard and What Now ?
Update for 3rd March 2011
Markets Rally Hard and What Now ?
- Markets rallied hard on the second day of the budget. It seems that the reason for the rally was not the actual budget proposals but those many things which were not in the budget. The rallies in the Asian and western markets following the then correction of oil prices after the spike also helped.
NIFTY INTRADAY LEVELS AND TRENDS FOR TODAY 1 MARCH 2011
Nifty trend was volatile on budget day and made an intraday high of 5477 and finally lost much of the gain and closed at 5333 with slight gain .
Nifty Trends and Levels for today 16 FEB
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Commdoity MCX intraday trends for today 15 feb
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GOLD-INTRADAY TREND - Buy is advised only above 20511.2 with a stop at 20279.2 Below 20229.2 go for sell and put stop at 20461
INTRADAY LEVEL OF ONGC
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Buy the share if open above 281.6 or above 285.6 with a stop at 272.5 Sell below268.5 or sell if open below 272.5
Market Trading Views For Tomorrow
For Intraday Tomorrow (21-Dec) traders are advised to trade long if Nifty holds above 5,950 levels with stop loss at 5,920 levels targeting 5,985-6,000 levels.
Read details at Nifty Intraday Outlook
Nifty Intraday Calls
Intraday Tipsp For 02-Dec
Buy Dish TV India Ltd. @ 74 for Target of Rs 77-79 and Stoploss of Rs 71.
…..More results in this category Intraday Tips
A New Week and a New High Too … ?
Update on The Ultimate Momentum Signal – 20th Sept. 2010
Nifty futures made a phenomenal rally last week on the back of the relentless buying by FIIs. The market close was near the highs too. Now the question is whether the market will be able to sustain the last week’s run rate in this week too. Even though the Ultimate Momentum Signal system do not involve any forecasting or prediction of targets and it just keeps the positions as such until exited by the application of system rules, let’s revisit the post dated 16th September in which the immediate target was arrived at. According to the good old simple gap theory of the technical analysis, the target remains at the 4950 to 4960 area. And the market may reach the said target in the early part of the new week.
Finally, Bulls Take a Breather … !!!
Update on The Ultimate Momentum Signal – 17th Sept. 2010
Nifty futures opened at 5842, slightly lower than the previous day’s last traded price, on Thursday. As is common in strong bull markets, market immediately tried to test the previous day’s high. It reached the previous day’s high of 5875 and then started the sideways to negative trading before the monetary policy announcement by the RBI.
The RBI announced 25 and 50 basis point ( 100 basis points = 1 % ) hikes in the repo and reverse repo rates. ( Repo is the process through which RBI lends to the banks against collateral of government securities in the very short term and Reverse repo is the process through which banks can keep excess liquidity with the RBI in the very short term. )
Bull juggernaut yet to take a breather … !!!
Update on The Ultimate Momentum Signal – 16th Sept. 2010
The bull juggernaut, the possibility of which was envisaged by this blog as a mad scramble to get in to stocks if Nifty breaks above the eleven month old trading channel or another bout of irrational exuberance ( please see the posts dated 23rd Aug. and 9th Sept. 2010 ), continued on Wednesday too. The Nifty futures opened near Tuesday’s last traded price and immediately tried to test the previous day’s highs. It reached the high of 5875 before noon and traded in a narrow range to close at 5861.50 for the day. The Nifty futures have recorded gains in seven consecutive days. This raises the chances of a deceleration in the gains or a consolidation for one or two days. However, the markets may still continue to gain after the consolidation because of the very strong momentum seen in the charts.
Nifty Futures – Daily Chart
Now let’s try to calculate an immediate target to the current rally.
Time for a breather after the scorching rally .. ?
Update on The Ultimate Momentum Signal – 15th Sept. 2010
The markets had a stupendous rally in the last ten trading days. In fact the trading range of the last ten days has a span of almost 500 points. Now, the question is whether the time to take a breather has arrived ?
A Continuation of the Bull Fury or Consolidation … ?
Update for 13th September, 2010
