{"id":1466,"date":"2012-03-07T08:12:08","date_gmt":"2012-03-07T02:42:08","guid":{"rendered":"http:\/\/www.cashthechaos.com\/blog\/?p=1466"},"modified":"2014-01-14T21:55:21","modified_gmt":"2014-01-14T21:55:21","slug":"technicals-7th-mar-2012","status":"publish","type":"post","link":"https:\/\/www.cashthechaos.com\/blog\/2012\/03\/07\/technicals-7th-mar-2012\/","title":{"rendered":"Technicals 7th Mar 2012"},"content":{"rendered":"

Nifty(5222.40): An erratic day that finally settled lower by little over 1%.<\/p>\n

\"\"<\/a>

Nifty Daily Chart<\/p><\/div>\n

If the top at 5630 is a significant top, the counter-trend top, i.e. B wave correction to the 2010-2011 decline, there are two ways this can play out.<\/p>\n

1) Nifty blows through 5090-5077 area - if this scenario happens, we have a powerful wave on hand and Nifty could drop straight to 4950.<\/p>\n

2) The current decline stops at above 5077 - then there is a bounce coming through that may take Nifty to 5495 to 5510. Post that a bigger decline begins. There is some support at 5139 and 200 DMA at 5165. Hence, be willing to extinguish some short positions closer to 5100 Nifty.<\/span><\/p>\n

Will be closely monitoring the internals of the move if the second case pans out - it needs to be in 3 steps , else the B wave stands a chance of moving higher to 5900 (see earlier post<\/a> ). As the structure unwinds, Ill update in plain english.<\/p>\n

Current positions:<\/p>\n

Apollo Tyres \u00a0Long at 78, 3\/4ths booked at 85 (I'm aware many did not get the SMS due to network Jam - this is for those who got)<\/p>\n

Short Nifty Fut from 5450 spot, partially booked<\/p>\n

Long Nifty March 5000 PE @32-33, partially booked @47-49<\/p>\n

Long USDINR at 49.8 spot Tgt 52 stop 48.8<\/p>\n

Previous position:<\/p>\n

GMDC stopped out at 194.<\/p>\n","protected":false},"excerpt":{"rendered":"

Nifty(5222.40): An erratic day that finally settled lower by little over 1%. If the top at 5630 is a significant top, the counter-trend top, i.e. B wave correction to the 2010-2011 decline, there are two ways this can play out. 1) Nifty blows through 5090-5077 area – if this scenario happens, we have a powerful […]<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[76],"tags":[],"class_list":["post-1466","post","type-post","status-publish","format-standard","hentry","category-premium-content","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\/1466","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=1466"}],"version-history":[{"count":3,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/posts\/1466\/revisions"}],"predecessor-version":[{"id":1710,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/posts\/1466\/revisions\/1710"}],"wp:attachment":[{"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/media?parent=1466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/categories?post=1466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/tags?post=1466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}