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EOD Observations for the 5th of February
Blame it on the EURO, Market took a deep plunge. Opened with a huge gap down. Towards the later half of the session we did see some support coming in. 4700 a very old level could provide some support. But it is definitely not a strong one. Nifty is safe above 4714. The Nifty is still in cycle mode…
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EOD Observation for the 8th of February , 2010.
The day started with bearish outlook. But buying came in slowly. Then we see supply disappearing and naturally followed by a effort to move up bar. This was followed by some good buying pressure with good volume. Selling pressure make a come back in the last hour. It is too early to say that we have reached the bottom of the current move. Some of my stuff seems to indicate so. We will be in the neutral zone as long Nifty remains above 4714. The Market mode on a hourly basis is still in cycle mode…
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Karthikmarar Sir, It seems to me that-at least- the value of close on the upper side of the short term trend line...As if ,after 1 or 2 bars a powerful upmove will occur most probably...
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kal 5 min ke time frame pe nifty ke 15 lac tak purchase ho rahe the
aaj sirf 1-1.5 lac today is testing of the uptrend i think no major selling thats what vsa suggests... Dont know if it is right for Nifty as it is an index...but volume speaks...
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Friends,
There will be no update for the next three weeks. I am taking a short vacation...Back to India .. Home sweet Home..
Last edited by karthikmarar; 11-02-2010 at 02:35 AM. |
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AAP isko short vacation bolte ho?? ![]()
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Back to VSA after a big break..
We saw a nice Descending Triangle pattern proving successful yesterday. From a VSA perspective we see some support coming in with higher volume towards the end of the day. Bullish days are no where near as the Greek problem seems to persists. However the current downside seems to have halted for the Indian market. If one is stuck better to exist on bounces and wait on the side lines till more clarity emerges.
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Welcome back KarthikSir ,..!! We have been missing u. Seen couple of guys showing off copying ur AFLs,..!! Wish u were here at that time.
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as i stated in "tracking smart money thread" that market is expected to take support bw range of 5027 and 4069[which happens to be 50-61.8% fib retracement]....market just did as was expected,...going further today market eneded with climatic action(ultrahigh vol with WRB...tommoroow's close is imp as it will confirm the nature of this climatic action..if we get low volume test it will confirm that it's stopping volume and short term reversal possible..else short term fall likely to extend...
![]() on option front we have seen fair amount of CE writting in 5100 strike(price down 15%, Oi up 16% and vol up 9%) ![]() ![]() Will update elliott wave analysis on weekends
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| price and volume, volume spread analysis, vsa |
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