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Nifty View - August '16 Series
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Author Nifty View - August '16 Series
vinay28
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Joined: 24 Dec 2010
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Post: #1   PostPosted: Thu Jul 28, 2016 8:31 pm    Post subject: Nifty View - August '16 Series Reply with quote

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Friday (29/07/16) and beyond

Supports are at about 8652/27/03, 8590/64/32 and 8480 while resistances are at about 8689, 8709/18 and 8801. Unfilled gaps on the higher/lower side are at about 8707/8615. A +WW can give about 8689 (+WWs with higher targets are not mentioned as of now). Four -WWs can give about 8607 (if below 8659), 8593 (if below 8671) and 8583 (if below 8652) (-WWs with lower targets are not mentioned as of now). A rising wedge can give about 8200 if nifty breaks and sustains below 8630.

Nifty opened up with a gap and rose further to close above 8650, a new 52 week high close. Daily volume was strong +ve and we may see further rise. However, -ve div persists and a fall is imminent. On a weekly basis nifty must close above 8610 to continue the rally while a close below 8590 can start fresh fall. Global and local eco-political events can have a bearing on how nifty moves in short term.
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vinay28
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Joined: 24 Dec 2010
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Post: #2   PostPosted: Fri Jul 29, 2016 7:34 pm    Post subject: Reply with quote

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Monday (01/08/16) and beyond

Supports are at about 8620, 8562/31/01 and 8433 while resistances are at about 8650/65/89, 8711/30 and 8783. Unfilled gaps on the higher/lower side are at about 8707/8615. A +WW can give about 8689 (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 8597 (if below 8667), 8591 (if below 8672) and 8575 (if below 8655) (-WWs with lower targets are not mentioned as of now). A rising wedge can give about 8200 if nifty breaks and sustains below 8630.

Nifty opened flat and fell to close above 8600. Daily candle is an inside bar but also an imperfect tweezer top with strong -ve volume and we may see some fall. However, weekly candle and volume is strong +ve and fall, if any, may be limited. Nifty must close above 8667 to continue the rally while a close below 8590 can cause more fall. Friday's candle was NR19 and we may big moves next week. Global and local eco-political events and liquidity can have a bearing on how nifty moves in short term.
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vinay28
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Joined: 24 Dec 2010
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Post: #3   PostPosted: Tue Aug 02, 2016 8:26 pm    Post subject: Reply with quote

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Wednesday (03/08/16) and beyond

Supports are at about 8612/03, 8591/62/31 and 8450 while resistances are at about 8644/73, 8706/24/71 and 8783. Unfilled gaps on the higher/lower side are at about 8707/8615. Two +WWs can give about 8655 (if above 8610) and 8696 (if above 8629) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8570 (if below 8660) and 8486 (-WWs with lower targets are not mentioned as of now). A rising wedge can give about 8200 if nifty breaks and sustains below 8630.

Nifty opened gap up, rose sharply but fell a lot to close above 8600. Daily candle is an inverted hammer with strong -ve volume and we may see some more fall. Nifty must close above 8667 to continue the rally while a close below 8590 can cause more fall. Global and local eco-political events and liquidity can have a bearing on how nifty moves in short term.
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katariajs
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Post: #4   PostPosted: Tue Aug 02, 2016 10:24 pm    Post subject: Reply with quote

ok
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apka
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Post: #5   PostPosted: Wed Aug 03, 2016 7:14 am    Post subject: Reply with quote

Will gst bill being passed have effect on market ?
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vinay28
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Post: #6   PostPosted: Wed Aug 03, 2016 8:03 am    Post subject: Reply with quote

apka wrote:
Will gst bill being passed have effect on market ?


apka, it has become the most hated subject as far as market is concerned. Market doesn't like anything trying its patience. 24 24
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apka
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Post: #7   PostPosted: Wed Aug 03, 2016 9:34 am    Post subject: Reply with quote

vinay28 wrote:
apka wrote:
Will gst bill being passed have effect on market ?


apka, it has become the most hated subject as far as market is concerned. Market doesn't like anything trying its patience. 24 24


Lol.. it's all good today.. I took HCL Tech before closing yesterday at 800 for 850 soon.. 50 points plus it opened today Laughing
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vinay28
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Post: #8   PostPosted: Wed Aug 03, 2016 7:49 pm    Post subject: Reply with quote

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Thursday (04/08/16) and beyond

Supports are at about 8521/01, 8461/50/38, 8389 and 8327 while resistances are at about 8573, 8613/86, 8732 and 8774. Unfilled gaps on the higher/lower side are at about 8707/8467. Three +WWs can give about 8587 (if above 8542), 8621 (if above 8563) and 8674 (if above 8591) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8419 and 8280 (if below 8515) (-WWs with lower targets are not mentioned as of now). A rising wedge can give about 8200 if nifty sustains below 8630.

Nifty opened gap up but fell sharply to close above 8550. Daily candle is a bearish marubuzo with good -ve volume and we may see some more fall. Nifty must close above 8667 to continue the rally while a close below 8508 can cause more fall. Global and local eco-political events and liquidity can have a bearing on how nifty moves in short term. Trade carefully as market sentiment vis-à-vis GST bill is highly uncertain.
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abhideep
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Post: #9   PostPosted: Wed Aug 03, 2016 9:34 pm    Post subject: Reply with quote

Gst passed
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vinay28
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Post: #10   PostPosted: Thu Aug 04, 2016 6:54 pm    Post subject: Reply with quote

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Friday (05/08/16) and beyond

Supports are at about 8542/31/21/09, 8471/50/00 and 8389 while resistances are at about 8560/99, 8613/47, 8706/24 and 8746. Unfilled gaps on the higher/lower side are at about 8707/8467. Three +WWs can give about 8610/31 (if above 8561) and 8700 (if above 8590) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8417 and 8280 (if below 8515) (-WWs with lower targets are not mentioned as of now). A rising wedge can give about 8200 if nifty sustains below 8630.

Nifty opened up with a big but fell sharply to make a lower low before recovering to close above 8550. Daily volume is strong +ve with +ve div and we may see some more rise. Nifty must close above at least 8610 and preferably above 8667 to continue the rally while a close below 8508 can cause more fall. Global and local eco-political events and liquidity can have a bearing on how nifty moves in short term.
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vinay28
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Post: #11   PostPosted: Fri Aug 05, 2016 6:59 pm    Post subject: Reply with quote

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Monday (08/08/16) and beyond

Supports are at about 8656/16/07, 8576/63/52/43 and 8531 while resistances are at about 8708/27/51/73/89, 8822 and 8839. Unfilled gaps on the higher/lower side are at about 8938/8551. Three +WWs can give about 8717/63 and 8813 (+WWs with higher targets are not mentioned as of now). A -WW can give about 8617 (if below 8660) (-WWs with lower targets are not mentioned as of now). A rising wedge can give about 8200 if nifty breaks and sustains below 8630.

Nifty opened up with a big gap and continued to rise to give the highest close since April '15 above 8650. Weekly candle is a hanging man but daily and weekly volumes are good +ve and we may see further rise. Nifty must close above 8834 to continue the rally while a close below 8544 can start a fall. Global and local eco-political events and liquidity can have a bearing on how nifty moves in short term.
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vinay28
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Post: #12   PostPosted: Mon Aug 08, 2016 7:04 pm    Post subject: Reply with quote

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Tuesday (09/08/16) and beyond

Supports are at about 8695/82/45/35/01, 8561 and 8531 while resistances are at about 8728/40/47/56/62/83 and 8834. Unfilled gaps on the higher/lower side are at about 8938/8683. Two +WWs can give about 8765 and 8815 (+WWs with higher targets are not mentioned as of now). A -WW can give about 8615 (if below 8662) (-WWs with lower targets are not mentioned as of now). A rising wedge can give about 8200 if nifty breaks and sustains below 8630.

Nifty opened up with a big gap and remained in a very narrow range before closing flat and above 8700. Daily candle is a spinning top cum likely evening star, to be confirmed by a red candle, preferably after a gap down open. However, volume was strong +ve and we may actually see further rise. Nifty must close above 8834 to continue the rally while a close below 8666 can start a fall. Monday was a NR193 day and we may see very big moves soon. Global and local eco-political events and liquidity can have a bearing on how nifty moves in short term.
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vinay28
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Post: #13   PostPosted: Tue Aug 09, 2016 6:59 pm    Post subject: Reply with quote

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Wednesday (10/08/16) and beyond

Supports are at about 8647/32/25/19/04, 8588/66 and 8531 while resistances are at about 8695, 8728/60 and 8783. Unfilled gaps on the higher/lower side are at about 8938/8683. Two +WWs can give about 8734/67 (if above 8668) (+WWs with higher targets are not mentioned as of now). A -WW can give about 8607 (if below 8667) (-WWs with lower targets are not mentioned as of now). A rising wedge can give about 8200 if nifty breaks and sustains below 8630.

Nifty opened gap up but fell sharply to close below 8700. Daily volume was good -ve and we may see some more fall. Nifty must close above 8712 to begin with while a close below 8666 can cause more fall. Global and local eco-political events and liquidity can have a bearing on how nifty moves in short term.
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riteshucha
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Post: #14   PostPosted: Wed Aug 10, 2016 11:12 am    Post subject: Reply with quote

vinay, u missed updating the confirmation of evening star... probably will fill the gap now at 8551
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vinay28
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Post: #15   PostPosted: Wed Aug 10, 2016 2:33 pm    Post subject: Reply with quote

riteshucha wrote:
vinay, u missed updating the confirmation of evening star... probably will fill the gap now at 8551


I didn't miss ritesh. I thought it was it was obvious so ignored it.
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