distribution

i suspested the drag between 5100-5180 tobe a distribution.

there were few strong counters like bhel and lt...which looked positive...but than i couldnt ignore signal generated from hdfc and r-pack and few banking counters.

it was a tough call to term the phase as distribution,,,but eventually it proved tobe distribution only.

unless nifty trades above 5078..we will see lower levels like 5007-----4950---4924.

the major loosers among index counters were..axis,,icici,,r pack..precisely as i mentioned here.

A FALSE break-out

The expected break-out happened ,the other day,,even new high was made...but by 1 point only!!!!!!!!!!!..very very tricky markets.

the more the drag in between 5100-5180..the more severe correction on the down side should come.

latest by tomorrow,,,if nifty is not able to breach 5190 on the upside..the side ways move in so many stocks...which generally looks like,,consolidation...will infact prove to be DISTRIBUTION.

STOCKS like rel infra,,r-cap,reliance,,icici,,axis can suffer most, if now nifty breaches 5081--5049.

LACKLUSTER DAY IN BETWEEN TWO TRENDLINES

SO,yet another day passed on exactly in between,,those two trendlines.

markets still waiting for that decisive move..beyond those two lines.

on hourly basis..nifty need to close below ROUGHLY 5105 for a steep downside fall or above 5145....5153 for an upside move which could easily make new highs for nifty for 2009.

acc,grasim,india cement, hdil ,litl. and sail seems poised for the upside rally..in my opinion positions should be taken, on a break out for nifty.

nifty trendlines

A break of any side of the trendline, will give 100 nifty points.

BELOW 5025/5000 4965 POSSIBLE

Hi, all please view the attached chart, for next supports and also targets.

The falling trendline will be resistance for any upside corrective rallies.

5049 DONE

todays f nifty low was 5050,,our target from thursday was 5049,which is done.

now, if 5080 is not captured in a hurry ,or morning gap-up than,theres a high probability of nifty touching 5000 and 4940 around within 1-2 days.

resistancce works for nifty

Nifty got Resisted at around 5183 ,on last two days..i mentioned 1 target for nifty to be 5049 ,but today with bearishness in dow & asian markets, at the WEAK open nifty made made low of 5085,,bounced back upto 5170 and crashed upto 5178..and closed again at 5130.

now, just read this messege posted here on 2nd dec.

Wednesday, December 2, 2009

WATCH 5040 FOR NIFTY

A strong move below 5103,,will take nifty upto 5089-5079 and a move below these levels will take nifty upto an important support levels of 5041..and a close below 5040 and we may see a strong down move atleast upto 4937-4860.

and WATCH todays lows..first 5085 next 5078.

this is precisely how levels given here works for nifty.

NIFTY possible targets and supports