Technical Views - Equities 20th July 2011
NIFTY
TREND : Nothing great yesterday also expect the rise at the end of the market. But there is one new thought that has come. It is clear that Nifty is consolidating and the major range of this consolidation is 5550 - 5670, so approximately 120 points range and consolidating for 5 days now. Instead of remaining only bearish we now propose a bullish theory also. We will trade the breakout of 5550 - 5670 for a 120 point target which ever side it breaks. since the range is fairly large from intraday perspective we also can take sell signals around 5650 - 5670 and buy signals around 5550 - 70. for small targets.
TREND : Nothing great yesterday also expect the rise at the end of the market. But there is one new thought that has come. It is clear that Nifty is consolidating and the major range of this consolidation is 5550 - 5670, so approximately 120 points range and consolidating for 5 days now. Instead of remaining only bearish we now propose a bullish theory also. We will trade the breakout of 5550 - 5670 for a 120 point target which ever side it breaks. since the range is fairly large from intraday perspective we also can take sell signals around 5650 - 5670 and buy signals around 5550 - 70. for small targets.
SIGNAL : use only buy and sell signals of TDI BS near the range
BANKNIFTY
TREND : We must admit that the charts of BankNifty have turned positive and there are no visible signs of a fall immediately. The support and resistance for the day are 11200 - 111400
BANKNIFTY
TREND : We must admit that the charts of BankNifty have turned positive and there are no visible signs of a fall immediately. The support and resistance for the day are 11200 - 111400
SIGNAL : use only buy and sell signals of TDI BS
CESC
TREND : We are short on CESC at 334.5. The SL for the same is revised to 336 and target 325.
SIGNAL : use only sell signals of TDI BS
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Please follow us on twitter @topdataindia
For a free demo of our TDI BS signals and other products please contact 9717555433 /466
SPECIAL NOTES
WHAT IS A BUY OR SELL SIGNAL WHICH WE KEEP MENTIONING IN OUR DAILY TECHNICAL VIEWS ?
We at TDI have created a proprietary logic based on technical analysis which generates buy and sell signals on Intraday charts. We call this logic as TDI BS aka TOPDATAINDIA BUY AND SELL. So when i say "Go Long only on Buy Signals we mean to say, When on an intraday chart a Buy signal appears based on TDI BS. We should take a long position in the scrip/future/commodity we have mentioned.
Why am i giving this reason today after a couple of months. I received lot of calls/chat messages mentioning that my GTL call went wrong. That's the time i realized that i have given views but haven't made an effort to educate people on the trading style which i follow. Infact i got a negative remark on my yesterday's heading GO LONG ON BUY SIGNALS ONLY.
Thus i will be covering this portion in all my blogs so that new readers are not mistaken and make losses in a scrip while at the same time we never entered a trade in the same.
Happy Trading, please email me on info@topdataindia.com incase u have the slightest doubts. Your feedback will and can make this blog really useful. And also if you like it please ask your friends to join too.
WHAT IS A BUY OR SELL SIGNAL WHICH WE KEEP MENTIONING IN OUR DAILY TECHNICAL VIEWS ?
We at TDI have created a proprietary logic based on technical analysis which generates buy and sell signals on Intraday charts. We call this logic as TDI BS aka TOPDATAINDIA BUY AND SELL. So when i say "Go Long only on Buy Signals we mean to say, When on an intraday chart a Buy signal appears based on TDI BS. We should take a long position in the scrip/future/commodity we have mentioned.
Why am i giving this reason today after a couple of months. I received lot of calls/chat messages mentioning that my GTL call went wrong. That's the time i realized that i have given views but haven't made an effort to educate people on the trading style which i follow. Infact i got a negative remark on my yesterday's heading GO LONG ON BUY SIGNALS ONLY.
Thus i will be covering this portion in all my blogs so that new readers are not mistaken and make losses in a scrip while at the same time we never entered a trade in the same.
Happy Trading, please email me on info@topdataindia.com incase u have the slightest doubts. Your feedback will and can make this blog really useful. And also if you like it please ask your friends to join too.
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