At a crucial juncture..... Bulls.... Keep your fingers crossed....!!!!!

Hi all,

As mentioned in my earlier posts, there is a bigger degree divergence which happened at the top where Sensex had hit the all time high whereas Nifty didnt do it....

Now, Nifty on daily chart is trading near 6100 mark where the Supertrend lies, and that on a closing basis will act as a strong support.... below which the last hope for bulls will be 6000-6070 levels....

Nifty should hold on to 6100 levels in the next week else it will be a negative divergence on daily chart on RSI will be triggered with targets ranging  from 5700-5450-5100, only if 6000 level is broken...

Summing it up.... Short term SL for bulls should be below 6100 on closing basis, mid term reversal below 6000.....

Cheers

Hrishi

Sachin did not, but Nifty did hit half century!!!!

Hi All,

As posted yesterday, Nifty bounced back strongly from 6200 levels...

Book part profits in longs and trail SL at cost....

Cheers

Hrishi

Markets down market breadth +ve....

Hi all,

Though Nifty is down by more than half a percentage point, still the market breadth favours the bulls... Advances are higher than declines.... A positive sign...

REgards

Hrishi

Not going Hand in Hand... Let us all Pray!!!

Hi All,

surprisingly and Unfortunately, in spite of Sensex hitting its life time high slightly ahead of Diwali in the last week, Nifty has not done the same till now...

If this happens and both the indices come down from the current levels, it will then be called as a big divergence between the two key indices.

Nifty supports now 6220-6200-6185 for intraday....

Key support for short term will be near 6000-6080 levels.... Below which the danger of further downfall will become fierce....

 Cheers

Hrishi

Nifty trailed stopped out...

Hi All,

Nifty long initiated yesterday near 6260 levels is trailed stopped out...

Cheers

Hrishi

Book part profits and trail SL...

Hi All,

Nifty first target achieved @ 6300.... Trail SL at cost....

Cheers

Hrishi

Bottom fishing....

Hi All,

Nifty looks positive, with supports below day's low near 6245-6240..... CMP 6265....

Targets 6300-6340-6360.


Cheers

Hrishi