NIFTY CONTINUED WITH ITS UPWARD MOVE WITH ANOTHER HIGHER HIGH, HIGHER LOW AND A HIGHER CLOSING. INTERESTINGLY WEDNESDAY’S PRICE ACTION WAS ANOTHER 7TH NRB WITH JUST 28 POINTS SIMILAR TO MONDAY’S NARROW RANGE OF 29 POINTS AND AS LONG AS HIGHER HIGHS ARE MADE WITHOUT CLOSING BELOW THE LOW OF THE LAST BUT ONE DAY, THE UP MOVE IS LIKELY TO CONTINUE. SO AS LONG AS SPOT NIFTY IS NOT PULLED DOWN TO CLOSE BELOW THE MONDAYS LOWS OF 5694 SPOT, ONE MAY CONTINUE TO HOLD LONGS AND ADD MORE LONGS ON EVERY DECLINE BY HAVING THE STOP LOSS POINT BELOW MONDAYS LOWS OF SPOT 5694.
A CLOSURE OF SPOT NIFTY BELOW THE LOWS OF 5694 WHICH IS THE LOW OF THE TWIN 7TH NRB OF MONDAY & WEDNESDAY, CAN SEE A BIGGER CORRECTION TILL SUCH TIME NIFTY REVERSES AGAIN TO MOVE UP TO CLOSE ABOVE THE PREVIOUS TWO DAYS HIGHS.
THE PRESENT CONDITION OF THE MARKET IS SUCH THAT THE INDEX WILL NOT MOVE AT ALL & IF IT MOVES THEN IT WILL BE TO A MAXIMUM OF AROUND 50 NIFTY POINTS WHERE AS INDIVIDUAL STOCKS WILL SHOW GREAT MOVEMENTS DURING THE COMING DAYS AND EVEN IF NIFTY FALLS THESE FUNDAMENTALLY STRONG STOCKS WHICH HAD LAGGED BEHIND DUE TO THE OPERATOR & INSIDERS ACTION DURING THE MEGA MOVE OF NIFTY DURING SEPTEMBER, WILL SHOW VERY GOOD MOVES. HENCE TRADERS & INVESTORS MAY PICK THESE STOCKS AND INVEST IN THEM TO SEE MULTI BAGGER MOVES IN THESE FUNDAMENTALLY STRONG STOCKS FOR GREAT GAINS DURING THE CURRENT BULL RUN. THE DAILY CHART OF PETRONET LNG WHICH WAS BADLY SUPPRESSED DURING THE SECOND HALF OF DURING THE BULLISH MONTH OF SEPTEMBER HAS STARTED TO SHOW SIGNS OF BIG MOVES & CAN BE ACCUMULATED ON INTRADAY DECLINES FOR VERY GOOD LONG TERM GAINS.
FOR THURSDAYS INTRADAY TRADING PURPOSE, BULLS SHOULD NOT EXPECT ANY ASSISTANCE FROM ASIAN MARKETS OR FROM THE HIGHLY OPERATOR INFECTED SGX NIFTY. SPOT NIFTY WHICH HAS CLOSED AROUND 5731, MAY MOVE UP TO BREACH WEDNESDAYS HIGH OF 5743. BUT AS LONG AS SPOT NIFTY DOES NOT CLOSE ABOVE THE CRITICAL 8TH JULY 2011 HIGH OF 5740, THERE WILL ALWAYS REMAIN THE FEAR OF A CORRECTION OR CONSOLIDATION TO ALLOW NIFTY TO GATHER SOME MORE MOMENTUM TO MOVE UP AND CLOSE ABOVE THIS CRITICAL SPOT NIFTY LEVEL OF 5740. SIMILARLY THE NEAR CLOSING SUPPORT LINE AROUND CLOSING SPOT LEVEL OF 5722 MAY PULL NIFTY UP TO CLOSE ABOVE IT IN CASE NIFTY SPOT SLIDES MUCH BELOW IT DURING THE INTRADAY TRADES. AS THE FOCUS OF MOST BIG OPERATORS HAVE NOW SHIFTED TO INDIVIDUAL STOCKS, ONE SHOULD NOT EXPECT MUCH BIGGER UP SIDE IN NIFTY AND THE DOWN SIDE CORRECTION WHEN IT COMES MAY BE BIGGER.
FOR THURSDAYS TRADING PURPOSE THE CRITICAL INTRADAY LEVELS FOR SPOT NIFTY ARE 5707 TO 5696 ON THE LOWER SIDE & IN CASE BULLS FAIL TO HOLD THIS SUPPORT ZONE THEN THEY HAVE TO FALL BACK AND JOIN THEIR POWERFUL RESERVES WAITING IN THE HEADQUARTERS BENCHES AROUND THE SPOT NIFTY LEVEL OF 5680 TO BOUNCE BACK WITH FULL FORCE FROM THERE. SIMILARLY ON THE HIGHER SIDE ONE WILL OBSERVE PROTRACTED ACTION BY THE BULLS SIMILAR TO CHINESE THOUGHT PROCESS, MEANING VERY LESS UP MOVE BUT MORE OF PARTICIPATION AND DISCUSSIONS. IT MAY BE TOUGH FOR SPOT NIFTY TO BREACH AND SUSTAIN ABOVE 5760 TO 5765 ZONE . EVEN A BREACH AND SUSTAINING ABOVE THE 5755 TO 5757 SPOT NIFTY ZONE MAY BE TOUGH. EVEN IN THE WORST OF CIRCUMSTANCES IN CASE BULLS CAN MANAGE TO BREACH 5747 SPOT LEVELS AND MANAGE TO SUSTAIN ABOVE IT FOR A FEW MINUTES THEN ONE MAY WITNESS GOOD SHORT COVERING BY THE BEARS BUT FAILURE TO BREACH AND SUSTAIN ABOVE ANY OF THESE HIGHER LEVELS MAY SEE BADLY HARASSED & BRUISED WAITING BEARS GOING INTO A SHORTING RAMPAGE BY HAVING A STOP LOSS ABOVE THE 5767 SPOT AREA.
A CLOSURE OF SPOT NIFTY BELOW THE LOWS OF 5694 WHICH IS THE LOW OF THE TWIN 7TH NRB OF MONDAY & WEDNESDAY, CAN SEE A BIGGER CORRECTION TILL SUCH TIME NIFTY REVERSES AGAIN TO MOVE UP TO CLOSE ABOVE THE PREVIOUS TWO DAYS HIGHS.
THE PRESENT CONDITION OF THE MARKET IS SUCH THAT THE INDEX WILL NOT MOVE AT ALL & IF IT MOVES THEN IT WILL BE TO A MAXIMUM OF AROUND 50 NIFTY POINTS WHERE AS INDIVIDUAL STOCKS WILL SHOW GREAT MOVEMENTS DURING THE COMING DAYS AND EVEN IF NIFTY FALLS THESE FUNDAMENTALLY STRONG STOCKS WHICH HAD LAGGED BEHIND DUE TO THE OPERATOR & INSIDERS ACTION DURING THE MEGA MOVE OF NIFTY DURING SEPTEMBER, WILL SHOW VERY GOOD MOVES. HENCE TRADERS & INVESTORS MAY PICK THESE STOCKS AND INVEST IN THEM TO SEE MULTI BAGGER MOVES IN THESE FUNDAMENTALLY STRONG STOCKS FOR GREAT GAINS DURING THE CURRENT BULL RUN. THE DAILY CHART OF PETRONET LNG WHICH WAS BADLY SUPPRESSED DURING THE SECOND HALF OF DURING THE BULLISH MONTH OF SEPTEMBER HAS STARTED TO SHOW SIGNS OF BIG MOVES & CAN BE ACCUMULATED ON INTRADAY DECLINES FOR VERY GOOD LONG TERM GAINS.
FOR THURSDAYS INTRADAY TRADING PURPOSE, BULLS SHOULD NOT EXPECT ANY ASSISTANCE FROM ASIAN MARKETS OR FROM THE HIGHLY OPERATOR INFECTED SGX NIFTY. SPOT NIFTY WHICH HAS CLOSED AROUND 5731, MAY MOVE UP TO BREACH WEDNESDAYS HIGH OF 5743. BUT AS LONG AS SPOT NIFTY DOES NOT CLOSE ABOVE THE CRITICAL 8TH JULY 2011 HIGH OF 5740, THERE WILL ALWAYS REMAIN THE FEAR OF A CORRECTION OR CONSOLIDATION TO ALLOW NIFTY TO GATHER SOME MORE MOMENTUM TO MOVE UP AND CLOSE ABOVE THIS CRITICAL SPOT NIFTY LEVEL OF 5740. SIMILARLY THE NEAR CLOSING SUPPORT LINE AROUND CLOSING SPOT LEVEL OF 5722 MAY PULL NIFTY UP TO CLOSE ABOVE IT IN CASE NIFTY SPOT SLIDES MUCH BELOW IT DURING THE INTRADAY TRADES. AS THE FOCUS OF MOST BIG OPERATORS HAVE NOW SHIFTED TO INDIVIDUAL STOCKS, ONE SHOULD NOT EXPECT MUCH BIGGER UP SIDE IN NIFTY AND THE DOWN SIDE CORRECTION WHEN IT COMES MAY BE BIGGER.
FOR THURSDAYS TRADING PURPOSE THE CRITICAL INTRADAY LEVELS FOR SPOT NIFTY ARE 5707 TO 5696 ON THE LOWER SIDE & IN CASE BULLS FAIL TO HOLD THIS SUPPORT ZONE THEN THEY HAVE TO FALL BACK AND JOIN THEIR POWERFUL RESERVES WAITING IN THE HEADQUARTERS BENCHES AROUND THE SPOT NIFTY LEVEL OF 5680 TO BOUNCE BACK WITH FULL FORCE FROM THERE. SIMILARLY ON THE HIGHER SIDE ONE WILL OBSERVE PROTRACTED ACTION BY THE BULLS SIMILAR TO CHINESE THOUGHT PROCESS, MEANING VERY LESS UP MOVE BUT MORE OF PARTICIPATION AND DISCUSSIONS. IT MAY BE TOUGH FOR SPOT NIFTY TO BREACH AND SUSTAIN ABOVE 5760 TO 5765 ZONE . EVEN A BREACH AND SUSTAINING ABOVE THE 5755 TO 5757 SPOT NIFTY ZONE MAY BE TOUGH. EVEN IN THE WORST OF CIRCUMSTANCES IN CASE BULLS CAN MANAGE TO BREACH 5747 SPOT LEVELS AND MANAGE TO SUSTAIN ABOVE IT FOR A FEW MINUTES THEN ONE MAY WITNESS GOOD SHORT COVERING BY THE BEARS BUT FAILURE TO BREACH AND SUSTAIN ABOVE ANY OF THESE HIGHER LEVELS MAY SEE BADLY HARASSED & BRUISED WAITING BEARS GOING INTO A SHORTING RAMPAGE BY HAVING A STOP LOSS ABOVE THE 5767 SPOT AREA.
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