Technical Views - Equities 28th July 2011
NIFTY
TREND : I am sorry for not writing for the last 2 days, as i was down with viral. And based on my review of 25th we did take a long position which we exited on the 26th and yesterday we went short at 5550. These are whipsaw's which we witness at times in the markets, The markets are totally in a state of confusion to the path it needs to take in the future. But we come to know of a whipsaw only after it has happened ie. after booking the loss. So in short these trades cannot be avoided and we have to give back something to the market that we earn from it. Till date we have lost 60 points on a short trade and a long trade and we have an open short position at 5550. Lets hope this does not be another whipsaw. Though to create some extra money we will add to our short position below 5515.
TREND : I am sorry for not writing for the last 2 days, as i was down with viral. And based on my review of 25th we did take a long position which we exited on the 26th and yesterday we went short at 5550. These are whipsaw's which we witness at times in the markets, The markets are totally in a state of confusion to the path it needs to take in the future. But we come to know of a whipsaw only after it has happened ie. after booking the loss. So in short these trades cannot be avoided and we have to give back something to the market that we earn from it. Till date we have lost 60 points on a short trade and a long trade and we have an open short position at 5550. Lets hope this does not be another whipsaw. Though to create some extra money we will add to our short position below 5515.
Levels : Support - 5515 / Resistance - 5560
SIGNAL : use buy and sell signals of TDI BS
BANKNIFTY
TREND : 10950 can be used as a make or break level, if market stays above this level we can go long of buy signals and if breaches this level we can short Banknifty.
BANKNIFTY
TREND : 10950 can be used as a make or break level, if market stays above this level we can go long of buy signals and if breaches this level we can short Banknifty.
Levels : Support - 10965 / Resistance - 11072
SIGNAL : use buy and sell signals of TDI BS
ONGC
TREND : Ongc is going to flag the direction of the next move, Inline with Nifty Ongc is consolidating for the last 15 days. The range of consolidation is 275 - 283. A breakout of any of the levels will give a 8 point swing profit
SIGNAL : No signals, trade the breakout
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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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