Thursday, May 20, 2010

NIFTY AS ON 20/05/2010

















Though Europe markets are down at this time I don’t think that our market can breach 4800 I find strong support near 4830 – 4880 area also below 4850 daily charts shall be highly oversold as said yesterday that hourly charts are oversold and a bounce is expected but nifty just consolidated in the range of 4920 – 4980 as still the candle has not touched the trendline which could be done by tomomrrow gap down opening and still donot try to buy on dip unless any signal is got on charts also donot try to short at this levels market shall make strong rally in the month of june while this month shall be consolidation in the range of 4800 – 4950 levels and then a big rally is expected but this views shall be terminated if 4675 low made on diwali shall be breached unless it is not breached this could be a corrective wave which could end at the support line as shown in the charts

Posted by at
Labels:

5 comments:

  1. madhu20 May, 2010 21:41

    taday also hdil down more then 4.5% any chance of its recovering
    and at what lvl shd i ave it my buy price is 238.5
    shall i ave it or book the loss
    pls reply

    ReplyDelete
  2. Nifty Statistics21 May, 2010 09:20

    Madhu
    after 200 the next immidiate support is @ 180 for hdil pls tell me the quantity or buy the same quantity at the given levels and you can be out by the expiry of this month but actually the stoploss was trigered at 241 and you had bought below the given stoploss which was your mistake it is good to buy low but not below the stoploss given or if you buy below stoploss then if closing is below the stoploss always exit immedaitely as some time in downfall also some scrip give false bull trap breakout after consolidation

    ReplyDelete
  3. madhu21 May, 2010 10:02

    sl given by u is 234 and not 241 thats why i purchased near sl not blaming u just replying and next time onwards i will take care if sl hit on closing basis thanx for reply

    ReplyDelete
  4. madhu21 May, 2010 10:03

    i have purchased one lot of hdil so shall i purchase another near 200 to ave out pls advice

    ReplyDelete
  5. Nifty Statistics21 May, 2010 11:05

    madhu
    i am really sorry as i did not refer the charts for sl but i would like you to buy near 180 with sl of 177.50 to average it out i hope you shall not loose a single ruppee but

    ReplyDelete

Subscribe to: Post Comments (Atom)