NIfty Views invited — Krunal, KKP and inder jee
Rahul, there are a lot of negatives, but one never knows when they become the current negative that big money focuses on.
As of now, 4549-51 is major resistance. Also, all technicals are overbought when you look at EOD charts. Inderji can look at other hourly and 15 min charts.
With the EOD Technicals being overbought, I am thinking that we should soon get a pause in the market. Unfortunately, it will be triggered with the US fed rate (cut is certain, but what are they going to say) on Sep 18th (next week).
HOPE: A nice 4 letter word that does not bring home any food today, when it comes to markets. But, I will go on anyways…..I hope for a correction so that I can buy more. A lot of ‘investors’ will say that. This time, I am not selling out at the market topping formation, like I usually do, and I will embrace the down move in my trading stock holding that I might have to live through. Selling Lloyd Metals at 145 and buying back at 125 is easy, tempting and profitable. But, human pych does not allow you to buy back all of the issues sold!!!!!
Hope this helps.
Inderji, Vipulji, Krunalji, Other Technicians…..Please share your knowledge.
KKP
rahul goel wrote: > Hi all, > > I am a member of some sites and some paid groups also which are > technical based. i have been hearing that nifty has to cross over 4550 > in the near term for any upside. > Though i am also trying to do some learning but i would appreciate > comments from yr side also. > Is 4550 a good technical resistance ya this s just a fake…. moreover > i would like to know is this technicals showing any reasons for a > sharp fall in the near term. few reasons which i see is … > > 1. oil at $80 > 2. political instability > 3. Subprime / credit primes issues stated by amitjee > 4. and fed meet. > 5. nifty not able to cross 4550 from last many sessions. > > i would really be happy if any views from technical gurus. > > regards > rahul > > > > > >
