{"id":1450,"date":"2012-02-23T09:00:21","date_gmt":"2012-02-23T03:30:21","guid":{"rendered":"http:\/\/www.cashthechaos.com\/blog\/?p=1450"},"modified":"2014-01-14T21:56:06","modified_gmt":"2014-01-14T21:56:06","slug":"technicals-23rd-feb-2012","status":"publish","type":"post","link":"https:\/\/www.cashthechaos.com\/blog\/2012\/02\/23\/technicals-23rd-feb-2012\/","title":{"rendered":"Technicals 23rd Feb 2012"},"content":{"rendered":"<p>Nifty(5505):<\/p>\n<div id=\"attachment_1451\" style=\"width: 410px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.cashthechaos.com\/blog\/wp-content\/uploads\/Nifty23Feb2012.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1451\" class=\"size-medium wp-image-1451 \" title=\"Nifty23Feb2012\" src=\"https:\/\/www.cashthechaos.com\/blog\/wp-content\/uploads\/Nifty23Feb2012-300x182.jpg\" alt=\"\" width=\"400\" height=\"225\" \/><\/a><p id=\"caption-attachment-1451\" class=\"wp-caption-text\">Nifty Daily chart<\/p><\/div>\n<p>Indian benchmark indices saw a key reversal day on the indices (see chart above). \u00a0A new swing high followed by a strong rejection of the new high. This is usually very bearish but momentum points to an unfinished move. \u00a0So, we will prefer a corrective decline followed by a another leg up.<\/p>\n<p>BUT, if we see a \"FIVE\" along with this correction, we may have to conclude differently. As shown in yesterday's chart, the bigger B wave can end either at 5650 or slightly below OR closer to 5975. Yesterday's high was very close to 5650. Keep tabs on USDINR - if it crosses 49.8 that would the first warning sign for Bulls that things may not be smooth for them.<\/p>\n<p>Supports: 5480, 5325 and 5077 (so watch for correction to get some support here - I prefer a decline 5325 to 5077)<\/p>\n<p>Resistance: 5650<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nifty(5505): Indian benchmark indices saw a key reversal day on the indices (see chart above). \u00a0A new swing high followed by a strong rejection of the new high. This is usually very bearish but momentum points to an unfinished move. \u00a0So, we will prefer a corrective decline followed by a another leg up. BUT, if <a href='https:\/\/www.cashthechaos.com\/blog\/2012\/02\/23\/technicals-23rd-feb-2012\/' class='excerpt-more'>[&#8230;]<\/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-1450","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\/1450","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=1450"}],"version-history":[{"count":4,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/posts\/1450\/revisions"}],"predecessor-version":[{"id":1713,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/posts\/1450\/revisions\/1713"}],"wp:attachment":[{"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/media?parent=1450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/categories?post=1450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/tags?post=1450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}