{"id":1209,"date":"2011-11-14T02:36:08","date_gmt":"2011-11-14T02:36:08","guid":{"rendered":"http:\/\/www.cashthechaos.com\/blog\/?p=1209"},"modified":"2014-01-14T22:38:47","modified_gmt":"2014-01-14T22:38:47","slug":"technicals-14th-nov-2011","status":"publish","type":"post","link":"https:\/\/www.cashthechaos.com\/blog\/2011\/11\/14\/technicals-14th-nov-2011\/","title":{"rendered":"Technicals 14th Nov 2011"},"content":{"rendered":"

Nifty(5168.85): The shortened week for Indian markets brought the second successive week of negative close for the Nifty. A small gap was registered in last week's price action and an ability to fill this zone of 5200-5211 today will mean a strong downtrend is in place.<\/p>\n

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Nifty intraday charts<\/p><\/div>\n

Considering the weekend movements in western bourses this seems less likely. If our labeling of the short-term moves are correct, Nifty cannot exceed 5256. (Nifty is unlikely to overlap into the teal dotted line shown on chart which passes at 5256 as this would violate Elliott wave rules). Also, the 61.8%\u00a0 Fibonacci retracement level of blue iii (5317 to 5142) falls at 5250. Hence if we see Nifty hover slightly below 5250, it will be a\u00a0 very low risk selling opportunity. Hence sell with a 5 point stop above 5256 cash nifty level. <\/strong> However, if Nifty pauses much lower, we have to evaluate the intraday movements and then act. If this push stretches all the way to 5250, the minimum drop in blue wave v will definitely be 5179 if not 5138 or 5065.<\/p>\n

Petronet:<\/p>\n

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Petronet - Daily Charts<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Nifty(5168.85): The shortened week for Indian markets brought the second successive week of negative close for the Nifty. A small gap was registered in last week’s price action and an ability to fill this zone of 5200-5211 today will mean a strong downtrend is in place. Considering the weekend movements in western bourses this seems […]<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[42,76],"tags":[],"class_list":["post-1209","post","type-post","status-publish","format-standard","hentry","category-indian-stocks","category-premium-content","category-42-id","category-76-id","post-seq-1","post-parity-odd","meta-position-corners","fix"],"_links":{"self":[{"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/posts\/1209","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/comments?post=1209"}],"version-history":[{"count":7,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/posts\/1209\/revisions"}],"predecessor-version":[{"id":1216,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/posts\/1209\/revisions\/1216"}],"wp:attachment":[{"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/media?parent=1209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/categories?post=1209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/tags?post=1209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}