Book Profits on Dhanteras....

Hi All,

Book Profits  on Dhanteras….

Nifty blasted, and is trading near the first target / resistance near 8650……

Book partial profits…..

Cheers

Hammer Yet again . . . . ! ! !

Hi All,

After bottoming out today near 8550 on the Expiry day today, Nifty showed a lot of strength and rallied above 8600 (8624), thereby triggering the Long trade. Though, after creating an initial top near 8609, it skipped till 8575 levels, however, managed to come back strongly an close @ 8612.

So, with this close Nifty has given yet another Hammer on Daily charts and a move above today's high, can take Nifty to higher levels. (Refer the chart below)

We have already gone long near 8595-8600 levels, and surpassing 8025 levels tomorrow will ensure higher gains in coming days.

Traders are advised to keep strict Stop loss below 8530-40 for short term trade and below 8460 for a positional Long trade in Nifty...

Cheers

Bull Fighting ! ! !

Hi All,

Nifty has broke out of a falling wedge pattern on intraday charts and showed a lot of strength near the supports of 8550 by bouncing back almost half a percent. It has also given divergences on hourly charts which collectively suggests a pull back in prices.

Traders can go Long only and only above 8595-8600 levels for short term or even positional long trade in Nifty. Stop loss for short term can be below 8540 and positional stop loss can be below 8460….

Hummer and Hammer both did not work

Hi All,

Nifty did not cross the said mark of 8545-50, and broke the supports mentioned near 8590. Hence the long trade mentioned yesterday was not initiated at all.

Now the last ray of hopes for bulls will be the support of 8470-8500, and I feel, the same should not be broken, however the area has now become a weak area of support.

So in a nutshell, neither Hummer effect could save India in 4th ODI nor the Hammer could save the Bulls..... ha ha ha ha :)  

Any long trade should only be initiated after a sufficient confirmation on charts.

Will keep you all  posted.

Cheers

Dhoni drives Hummer.... Nifty gets Hammer ! ! !

Hi All,

Nifty long call initiated near 8560-75 was trailed stopped out below 8630, however, earlier it saw a nice movement of more than 3% from the lows of 8500 to 8740.

Now, after consolidating in a tight range of less than 100 points for almost a week, Nifty gives yet another ray of hope for Bulls,

On hourly charts, Nifty has given a Hammer pattern with a RSI divergence, which will get confirmed only above 8645-50.

Trades can go long only and only above 8645-50 with SL below 8590 with targets of 8680-8700-8740... The only concern for the trade is the Gap down opening for Nifty today, hence strict stop losses are advisable....

Cheers

Hrishi

Tired . . . .! ! !

Hi all,

Nifty finding it difficult to break 8750 on the higher side and close above 8710 (The resistance of a gap down opening on 13 Oct)…..

On the lower side now 8650-8625 will act as strong supports and will decide the fate of bulls….

Cheers