Owner: Nifty Tracker URL:http://nifty-tracker.blogspot.com Join Date: Tue, 09 Dec 2008 09:12:58 -0600 Rating:0 Site Description: Blog related to technical analysis of indian stock markets, original trading articles, very powerful market prediction. Site statistics:Click here
Nifty upside capped further, pressure rising 2008-12-08 07:45:00 CNX Nifty rallied sharply as high as 5.5% at one time touching 2861.55 at one time in afternoon, but fell sharply to around 2765 under heavy profit booking pressure arising out of excessive premiums available in both Nifty and Sensex futures. The figure now stands at +100points in sensex futures for profit booking. This figure I calculate using some proprietery algorithms, and hence cant share Read more:upside
Indian shares rally, yields fall on stimulus, rate cut 2008-12-08 07:35:00 * Indian shares
, rupee gain, bond yields fall
* Fiscal deficit seen limiting scope for big stimulus
* Rate cut boosts bonds, borrowing plans limit upside
Indian shares rallied nearly 5 percent and bond yields plunged to their lowest since early 2005 on Monday after the authorities slashed interest rates and promised more spending to shore up sagging growth and investor confidence.
Trade Reliance contraction zone volatility breakout 2008-12-07 10:16:00 Markets around the globe are awaiting with an abated breath for a strong cue to catch a direction. And because of this, stocks are forming a contraction zones, giving very nice breakout trading opportunities.
Reliance
is under tremendous contraction zone of mere 130 points, which is around 10% of its LTP. A breakout is likely anytime. Trade
rs should be ready with both hands to trade this
Nifty weekly prediction, 8th December 2008 2008-12-06 09:03:00 Handsome breakouts take place after an extremely good news. World markets were trading in a tight range awaiting a direction, and as always uncles jones has took the plunge to show the direction to its peers.
CNX Nifty is now evenly poised. 5th December
2008, saw normal profit booking which brought nifty to test 2709 once 2748 was broken. 2709 was the crucial support, and now after RBI has
Events for week starting 8th December 2008 for asia pacific 2008-12-06 08:36:00 Following are some of the main Asia and Pacific news events expected this week (all times GMT).
SATURDAY, Dec 6 MUMBAI
Reserve Bank of India news conference amid speculation of interest rate cuts.
MONDAY, Dec 8 NEW DELHI
Results of recent state elections in India.
TUESDAY, Dec 9 TOKYO
Revised GDP figures for the third quarter.
WEDNESDAY, Dec 10 BEIJING
A raft of data on China's economic Read more:December
Repo rate cut by 100 basis points 2008-12-06 08:16:00 India's central bank on Saturday slashed its key interest rates by 1 percentage point to boost growth and shore up investor confidence amid signs of economic slowdown and in the wake of deadly attacks in Mumbai.
The decision came a day after the government cut state-set fuel prices for the first time in nearly two years and ahead of expected fiscal measures to keep Asia's third-largest economy
Nifty a humble student, now evenly poised 2008-12-05 10:53:00 CNX Nifty opened neutral and rose to test its previous recent high of 2832, and after touching it, fell with an angle of 45% to its projected support of 2748. It proved to be a strong support as Nifty then bounced back to neutral line, and then fell breaking below it, and this time it was time to test its another forecasted support of 2709. This proved to be a sacred line, and held nifty tightly.
A consolidation saga which lifted nifty finally 2008-12-04 13:30:00 It was a series of consolidation after we retested 2553. Yesterday, we witnessed a nice range shift, and today the first 45 minutes were worthy of studying, a peculiar pattern which needs to be remembered, when nifty traed in an extremely narrow range of around 5 points before the final takeoff.
Nifty was feeling suffocating, as if a dragon was caught with shackles, and needs its freedom back, Read more:lifted
Heavy selloff by mid-december : Shankar Sharma 2008-12-04 12:48:00 Shankar Sharma
, the Vice-Chairman and Joint Managing Director, First Global, caught my attention when he with full authority claimed that sensex will be seen at 8000 when sensex was quoting at 14,000.Now,he does not expect the current rally to continue for more than a week. “The market would see a huge sell-off by mid-December, which may continue till January end.”, he was quoted as saying. He Read more:Heavy
, Shankar
Bullish breakout in TATASTEEL 2008-12-03 13:53:00 A bullish breakout has taken place in tatasteel out of the small consolidation phase. Breakout came after the news was announced that Jamshedpur Utilities & Services Company, a wholly owned subsidiary of Tata Steel, has bagged Rs 1.52-billion water management contract for Mysore city.
An agreement to this effect was signed at Mysore between Jamshedpur Utilities, Mysore City Corporation and Read more:Bullish
Nifty forming flag pennant chart pattern, hold your breath ! 2008-12-03 13:02:00 A base formation is of utmost importance, to make way for further course. So many things happen in a base, stops hitting, support testing, fierce battle between bulls n bears.
Trading the CNX Nifty today was a tough ask for day traders. Crucial day it was, for after the short correction after the sharp fall witnessed from 50% retracement level, everyone was expecting the market to fall. But
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Forum support is there, but I cant see any active participation from
Nifty leading the charge with double bottom 2008-12-02 08:39:00 Once lagging, now leading CNX NIFTY bounced off the projected target of 2553. Its peers started to follow its downfall after its fall started after touching the 50% retracement level. Huge buying interest was seen in all the stocks, though the majority closed in red.
NIFTY takes support at weekly S2
CNX Nifty yesterday witnessed the breakout of the 38.2% retracement level and touched the 50% Read more:charge
, double
SBI tests october 2008 lowest close of 1052 2008-12-01 08:23:00 Some times all stocks dont sing the same song, today SBI demonstrated this nicely. It could be called the hidden SBI conspiracy.
Markets rallied after the much awaited breakout at 2748 and all stocks participated except SBIN and BHEL. Markets though maintained their highs for quite some time, but SBIN gave away its 2% gains in no time. And fell continously until it reaches the bottom of 1052. It Read more:tests
Trade the Bollinger Band volatility breakout in Ranbaxy 2008-11-28 10:42:00 Bollinger Bands provides the extent to which the current price has deviated relatively. They serve as an excellent tool to trade equilibriums ie; when price is relatively constant.
Ranbaxy is now in absolute equilibrium as can be seen in daily charts where all short term moving averages have converged alongwith Bands, and its witnessing volatility contraction.
It can witness a volatility Read more:Trade
Rolta witnessing volatility contraction, dont miss 2008-11-28 10:42:00 CNX NIFTY is moving sideways now a days showing early signs of consolidation. Wheather its a consolidation or anything else, only time will tell. But some stocks are seeing their volatility contracting to a great extent, and hence are giving excellent trading/positional opportunities.
ROLTA is next in the series of volatility contraction.
Upside target : 185, 203
Downside target : 140, and no
NTPC breaches 50SMA, touches upper bollinger band 2008-11-28 10:42:00 Markets have shown huge uncertainty in the past one month and stocks too have responded in sync with them. But some frontliners have moved against the markets and other heavyweights, making predicting the markets a tough nut with indicators giving opposite signals every now and then.
Once a laggard, now the market leader, NTPC is the first frontline stock to breach the super critical 50SMA, and Read more:breaches
Nifty testing 38.2% retracement level of 2765 2008-11-28 10:42:00 Traders / Investors use the fibonacci retracement level
s to be excellent entry exit points. However using them successfully needs some practice. Nifty is trying to break through the important fibonacci level as rupee is giving some signs of appreciation in the short term.
Nifty has tested the important level of 2765 five times, and today it managed to give a positive closing, although it was of
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