Market is preparing for another downside?


#41

Eventually, all bubbles have to pop, but quite a bit of money to be made in Bitcoin due to a confluence of factors.


#42

part of black money moved to Bitcoin, if Govt cracks down on it then all is lost in thin air any time soon.


#43

R-NAM ka karnama, a historical coincident event, Market is affected by Global cues and Indian media’s loyal to "Dynastic regime started news making/pushing for Pappu & K lal type people
.
As observed previously Nifty & bank nifty turned negative And DII Started selling while FII buying, its like a catch 22 situation
Observation on Nifty -Nifty was not able to hold the breakout level of 10432 & was crawling along with it, support being 10315, 10182
Bank nifty support being 25040 & 24800
As observed previously, Reliance weakness turned in to downside. Support being 894 & 831 and HDFC Bank may not hold for long time
.Metal rally coming to a conclusion .It seems that IT will do better


#44

Not through Indian exchanges that much is for sure. The volumes are very small on the Indian BTC exchanges.


#45

Nifty & Bank nifty continued their down side . Nifty closed below the crucial level of 10315, next support will be 10275, 10182 & 10050. For bank nifty support will be 25145 & 25040, 24927
As expected Reliance was down and nearing its supports of 879/870/831
HDFC Bank is holding very crucial level of 1823, while all other banks are going down , Axis bank is going up, its seems that , a Crazy Fund manager is buying it.
Metal Rally lost its metal. IT continue to do well , but nearing overbought level, as these are not recommendations but chart observations


#46

New observations are, Market will be choppy till the Gujarat/Himachal election results , may be after market will take a clear direction. HDFC Bank is just 1 tick below its crucial support level ( 1823) , seems to be consolidating . Reliance low was almost at support level of 879 (low- 879.2) but closed below the support level of 894 and new support will be 860, 846 & 831
In case of Axis bank , probably , the crazy fund manager who bought Axis bank earlier, knew of Bain capital & Axis bank deal much earlier.
IT corrected a bit, bit more correct. Metal index support is 3809 /3812


#47

Nifty and bank nifty down trend is becoming strong, chances of sharp fall on nifty, if it close below 10182 & 10020 to 9900 & 9800
If bank nifty close below 25225 & 25182 it mat fall up to 24700 & 24200
As these are observations


#48

I am anticipating some more pain of around 150-200 odd pts in Nifty in next few days, primarily lead by select private banks, Reliance, OMCs and may be Maruti & SBI. However, as long term and mid term Up trends remains intact and this time next leg of rally may be lead by PSU Banks. These are my thoughts and can be wrong too.


#49

indeed you can be wrong, but that’s exactly what i’ve been thinking either! i’ve beet sitting at home now for a few days searching for hgh for sale because of my health conditions. but anyway, because i was sitting home doing nothing i analyzed it carefully and i agree with you!


#50

Nifty closed just above the support of 10182, & Bank nifty bounced from the support level of 25225 ( Bank nifty low was 25223.10 )
Both Nifty & bank nifty are at major trend line violation, Nifty completed one round of H&S format, may bounce back , seems to be in the process of making right shoulder,
For HDFC Bank 1790 level is a break or make level, chances of downside for SBIN So choppiness expected on Bank nifty
As always :slightly_smiling_face: these are chart observations


#51

I am not seeing any major upside move unless there’s any strong positive trigger. Markets can rally tomorrow or upcoming days & may surprise everyone but my view remains bearish.


#52

@haribabu Still missing in action these days. :slight_smile:


#53

This thread being continued / changed to another thread , with the headline ------“Market direction /Trend …?, Index Analysis” in technical analysis. category