Disappointing Trade Data pushes Nifty Further down.....

Hi All,

Nifty for the third consecutive day have opened in a positive territory and gave off its gains later.

One can book second part profits near CMP of 5940-45 and trail SL near cost.....


Cheers

Team ATC.....

Infy View.....

Hi All,

View on Infy -

Surprisingly after giving a death cross on weekly chart (-ve crossover of 50 and 200 period moving averages) Infy rallied up by almost 13% and is currently trading near 2625-30 levels, thanks to the quarterly results.

On a weekly chart its is currently trading near a crucial resistance area of 2630-2655.

However, after such a strong positive opening going short as of now is not at all advisable....

The strategy for Infy can be book part profits of already long  and wait for a new trade as per further developments.

Levels to watch out for medium term -

Resistances - 2650-2740-2840-2930-3000
Supports - 2600-2550-2470-2375-2300-2240







Regards

Hrishi

Crude fell after a through over......

After a break above the 5170 mark by a very small margin.... crude crashed by around 1%

Regards

Hrishi

Crude oil surpassed the resistance....

Hi All,,


Crude surpassed the resistance of 5170... however continued to show negative divergence on daily charts and is not sustaining these levels.... For a new trade entry conformations would be awaited.....



Reason might be that Saudi Oil Output Drops 5% in December

But the same continues to trade with caution and has given one other bearish sign on hourly charts

Regards

Team ATC

Nifty gave off its opening gains...

Hi All,

In spite of a strong gap up opening Nifty gave away all its opening gains and is continue to trade with negative bias....

Supports on the down side near 5920-5890.....

Already booked part profits in the short trade initiated yesterday and have trailed our stop loss near the cost to close trade profitably...

Cheers

Hrishi

Crude Oil bearish...

 


Bias for Crude oil Turns negative, with a resistance above 5170 and supports near 5090-5060-5000

CMP 5120-5123



Regards

Hrishi