Nifty broke down from highs with big volumes, as supply was intact at the resistance zone of the trading range yesterday. It closed the gap formed on 31st July completely. The trading range formed from 24th Jul to 29th Jul may give support and resistance as shown in the above chart.
Nifty Chart - Hourly:
On the higher side Nifty may move up to 4610 levels, Now this 4610 - 4620 levels may act as good resistance, above which 4660 may act as next resistance.
On the lower side Nifty may take good support from the 4530 levels. If nifty breaks this level then it may reach up to 4455. If Nifty breaks 4455 then bulls may become weak.
PS: I have exited 25% my long holdings at 4590. Keeping 4455 - filter as stop loss for remaining 25%
6 comments:
hi.appreciated for ur kindness and selfless help,and advice.i dowloaded chartnexus,and yes its good one,and free.ya..right--for few days will work on chartnexus before going to amibroker...u r simply perfectly right in all u said.i do agrre all.anyways if u dont mind could u tell me how much does amibroker cost actually nd best serviceprovider of getting real time data source of nse/bse for amibroker?
i daily check ur blog,and i noticed u post a column(intraday tick data)by the way for which purpose is this data, and for whom is it.bcoz its only a downloadable file.?
@ art... that tick data is for people who upload data into amibroker at the end of the day(like me). cost of ami is on the amibroker website.
data for amibroker :- if u open an account with indiabulls, their software can be connected to amibroker very easily. else there are many data providers,google for them :)
@ doji.. in the ads that appear on this website there is one called "harmonicpatterns.com..have u checke it out.. wonderful site for people who follow garley etc
Yes kurichh, that is the most authentic site for Fibonacci based patterns research.
Doji
Art, there are many real time data providers, some cheap, some expensive. But I suggest you use amiquote or PIB2AB or myPIBData (http://www.volumedigger.com/myPIBData.html) to start with.
Doji
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