{"id":1427,"date":"2012-02-15T08:44:52","date_gmt":"2012-02-15T03:14:52","guid":{"rendered":"http:\/\/www.cashthechaos.com\/blog\/?p=1427"},"modified":"2014-01-14T21:56:44","modified_gmt":"2014-01-14T21:56:44","slug":"technicals-15th-feb-2012","status":"publish","type":"post","link":"https:\/\/www.cashthechaos.com\/blog\/2012\/02\/15\/technicals-15th-feb-2012\/","title":{"rendered":"Technicals 15th Feb 2012"},"content":{"rendered":"

Nifty(5416): Markets despite being overbought, continues go up on receding momentum. The move from early February is like an automobile coasting \u00a0on residual inertia of motion even though the vehicle has run out of gas.<\/p>\n

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Nifty(Left) and Bank Nifty (right) - Daily Chart<\/p><\/div>\n

While this is very unhealthy and the markets will sooner or later drop vertically once the residual inertia is over, prudent risk management and patience is an absolute must. The retracement will completely erase the last leg of this short-term move. That leg started at 5077 and that will be some sort of guaranteed level we are going to see once the correction sets in. We will watch for a big one day reversal pattern or 5325 for confirmation - do not know which will be the case.<\/p>\n

Having said that this move is clearly a powerful wave in the short term. What does it mean in the higher time frame? Is it a sucker rally that is correcting the entire decline from Nov 10 to Dec 2011 as I'm assuming it to be? OR is it the beginning of something bigger? The answers for that will come through ONLY when the correction starts. Stay tuned.<\/p>\n

Nifty support : 5325, 5210 and 5077. Resistance: 5440 and 5495<\/p>\n

Open Position: Long Coal India @326-328 Tgt 360 Upgraded stop 320 at close<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Nifty(5416): Markets despite being overbought, continues go up on receding momentum. The move from early February is like an automobile coasting \u00a0on residual inertia of motion even though the vehicle has run out of gas. While this is very unhealthy and the markets will sooner or later drop vertically once the residual inertia is over, […]<\/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-1427","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\/1427","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=1427"}],"version-history":[{"count":5,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/posts\/1427\/revisions"}],"predecessor-version":[{"id":1715,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/posts\/1427\/revisions\/1715"}],"wp:attachment":[{"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/media?parent=1427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/categories?post=1427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/tags?post=1427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}