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# Market Facts #


Two consecutive down years is rare. Rarer still is three consecutive down years. As per Mr Faber, it's happened just six times in 378 years, or less than 2% of the time. Four consecutive down years occurs only 1% of the time. And five down years in a row almost never happens. 

A Ji, O Ji its a Doji ! ! !

Hi All,

Though Nifty managed to close above 7700 mark, for a while it had violated that level, we were fortunate enough to book a small loss in the Long trade initiated at 7725-30....

Going forward, the bias for markets looks negative, especially after looking at weekly charts. A Doji pattern has got formed near a Super Trend resistance area which is surely a bearish sign and a close below the low of Doji, i.e. 7842 (7788 to be on a safer conservative side) will mean lower targets for Nifty near 7600-7500 will get opened. (Please refer the chart)

Today and tomorrow’s trading will be very crucial for markets for weekly closing and any hope for bulls will only occur if we have strong positive days, however the probability for the same looks meager.

Levels to watch out for today -

Supports - 7690-7660-7585

Resistances- 7730-7750-7780-7800-7860-7890-7910

Cheers.....

Hrishi

Let's respect 7.7k

Hi All,

As expected, Nifty fell down and is currently trading near 7720-25 levels.

Let us take a chance...

Risky traders Buy Nifty near 7725-30 with a Stop Loss below 7700 and targets near 7780-7800, all levels are Spot Levels....

Update - 3.10 PM

In an immense battle between Bulls and bears today, Nifty traded in a tight range of less than 50 points.

In spite being trading negative for almost all part of the day, markets did not break 7700 levels, which actually is an encouraging sign for bulls, however to be on the safer side, it is better to exit the position in a small loss rather than carrying it overnight.

Exit Nifty Long initiated @ 7725-30 @ CMP 7715-20

Let us take a fresh look at Nifty after the markets open tomorrow.

Cheers

Bang on Target . . . Bears Win with a huge margin....

Hi All,

As expected, in spite of opening positive by more than 50 points and rallying almost 90 points thereafter, Nifty faced a resistance near the mentioned level of 7890-7900, Nifty fell sharply as expected and broke the supports mentioned.

Now Nifty is trading near the gap up window Demand Zone near 7770-7710 and the fate for bears hereafter will be decided only after breaking the zone.

Traders are expected to trade cautiously with their short positions as markets are trading in a demand  zone now, we can initiate a trade on the Long side provided Nifty gives some confirmations at least on the intraday charts, I will update you all regarding the same if it occurs...

Levels to watch out for today -

Supports - 7730-7700-7670

Resistances- 7780-7800-7860-7890-7910

Cheers.....

Hrishi

Advantage Bears .. . ! ! !

Hi All,

Yesterday, Nifty created a lower low than Friday and closed lower by almost 50 points near 7805.

With this close, it also closed below the Evening Star Pattern mentioned in last week, so prima facie, the bias will be negative going forward, however Nifty is now trading near the Window Support of 7710-7770 and it will be very crucial,

Nifty has also marginally broken an upward trend line (shown in the image below) on daily charts which again is a bearish sign and suggests that it might come down till 7720-7750 levels to fill the gap mentioned earlier.

The bias after these two developments will change to negative and markets are expected to trade lower unless we see a significant bullish development on charts.

Levels to watch out for today -

Supports - 7770-7740-7700-7670
Resistances- 7835-7870-7900-7950

Cheers.....

Hrishi

Confused . . .

Hi All,

After rallying up away from the bottom near 7788, Nifty settled near 7850 on Friday’s closing.

As mentioned in earlier post, for rallying further, Nifty needs to sustain above 7850 mark for a while.

On the lower side 7820 and 7780 will be very crucial supports where as on the higher side 7870-7890-7920-7950 will act as resistances.

The bias for the market will be cautious and I will initiate a trade after favourable chart confirmations.

Cheers