Sensex

Wednesday, December 02, 2009

Re: [Technical-Investor] Nifty WEEKLY---Bulls trying WEAKLY??

 

You are looking at horizontal lines for supports and resistances. Inclined lines (trend lines) are also supports and resistances.
 
AP
 
 
----- Original Message -----
From: kk s
Sent: Wednesday, December 02, 2009 6:00 PM
Subject: RE: [Technical-Investor] Nifty WEEKLY---Bulls trying WEAKLY??

 

I have never been able to understand the trend lines.
 
supports and resistance are ok,straight forward. and we can explain that last times resistance becomes a new support once broken, that isa specific level is the support or resistance
 
but in case of a trend line is it the reverse ? ... the trend line causes a psychological barrier
 
Hope i am asking the right question??
Kumar

To: Technical-Investor@yahoogroups.com
From: ap19632000@yahoo.com
Date: Wed, 2 Dec 2009 17:39:25 +0530
Subject: Re: [Technical-Investor] Nifty WEEKLY---Bulls trying WEAKLY??

 
The trendline on which higher number of end points rest is the better trendline.
 
The TL drawn by you has only 2 points, whereas the one drawn by me has 3.
 
AP
 
----- Original Message -----
From: kk s
Sent: Wednesday, December 02, 2009 5:34 PM
Subject: RE: [Technical-Investor] Nifty WEEKLY---Bulls trying WEAKLY??

 

hi ap
 
cant we look at the chart this way?? just trying to understand
 
kumar
 

To: Technical-Investor@yahoogroups.com
From: ap19632000@yahoo.com
Date: Wed, 2 Dec 2009 16:56:01 +0530
Subject: Fw: [Technical-Investor] Nifty WEEKLY---Bulls trying WEAKLY??

Same trend line acting on BSE Sensex too !!
 
 
----- Original Message -----
From: Abhijit
Sent: Wednesday, December 02, 2009 4:36 PM
Subject: [Technical-Investor] Nifty WEEKLY---Bulls trying WEAKLY??

 
Nifty weekly chart attached.
 
I was trying to find out why 5161, today's high is so important, and why 5181 was not seen, in spite of the momentum.
 
Chart shows the importance of today's top.
 
It is bang on the trend line starting from a major top of 5545 in February 2008 and the recent top of 5181.
 
Bulls need to be cautious till Nifty closes above 5161. Till then, anything can happen. Just stay short with a stop loss of 5162 on Nifty spot and then go long.
 
Nifty below today's low will confirm the doji tomorrow, and then targets are 5080---5050, and............................4940
 
Cheers,
 
AP
 




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