Nifty Future chart July Series :
Perspective : After the sell-off yesterday afternoon, most traders were scrambling to check the wires and the channels for news which had caused the slide to happen. That’s the kind of effect news driven environments have on traders and we are in one right now, so traders should not let go off their guard.
On another note, the warning from S&P and Moody’s on US debt needs to be taken with a pinch of salt, as these same agencies had declared mortgage based securities AAA before the credit crisis began. Overall it leaves me wondering whether they are just leaving the dour open for the FED to unofficially do another QE3 as the US fed will have to buy all debt finally, junk or otherwise.Incidentally the buying program has been going on for almost two years now.
Back Ground : We spoke about 5550 to support the market and ” above 5621, 5645 and 5668 can be done”. The highs of the day were at 5667.
Chart Speak :
– A 3 I day which gave up all gains at the close, something expected from the market the following session.
– a Large value area would mean a consolidating kind of day
– we see 5584-90 zone as a pivot for the day’s trading around which a move to 5636 or 5547/ 5531 can take place.
– larger bullish move can happen over 5636 to take the market to 5688.
The above post is for purpose of education only. Similar charts are posted for the BN, LT, RIL, ICICI, TTM, SBIN everyday on our premium website http://www.vtrender-2.com
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Perspective : After the sell-off yesterday afternoon, most traders were scrambling to check the wires and the channels for news which had caused the slide to happen. That’s the kind of effect news driven environments have on traders and we are in one right now, so traders should not let go off their guard.
On another note, the warning from S&P and Moody’s on US debt needs to be taken with a pinch of salt, as these same agencies had declared mortgage based securities AAA before the credit crisis began. Overall it leaves me wondering whether they are just leaving the dour open for the FED to unofficially do another QE3 as the US fed will have to buy all debt finally, junk or otherwise.Incidentally the buying program has been going on for almost two years now.
Back Ground : We spoke about 5550 to support the market and ” above 5621, 5645 and 5668 can be done”. The highs of the day were at 5667.
Chart Speak :
– A 3 I day which gave up all gains at the close, something expected from the market the following session.
– a Large value area would mean a consolidating kind of day
– we see 5584-90 zone as a pivot for the day’s trading around which a move to 5636 or 5547/ 5531 can take place.
– larger bullish move can happen over 5636 to take the market to 5688.
The above post is for purpose of education only. Similar charts are posted for the BN, LT, RIL, ICICI, TTM, SBIN everyday on our premium website http://www.vtrender-2.com
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