padiyara

Nifty 8900. Attempted to touch 9 k but not successful this time

NSE:NIFTY   Nifty 50 Index
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Nifty 8900. Attempted to touch 9k but not successful this time. This psychological barrier is very important to cross for the market to move higher. Being with the trend am hopeful to have a strong support somewhere around 8827.
There is many useful information pouring is in chat and comments session, I was not able to follow up. Please excuse me for that.
Some friend was telling that, we crossed 8990 and touched 9000. Note that every ones approach is different, views are different, no doubt about that. To me it is not crossed 8990, just touched only :D . GET ME. And 9000 is far for me as it is an impotent level crossing it is also very significant.
And one more point. I am not able to give trading levels or strategies here. First of all, as I mentioned in the post in RED LETTERS, that I am not available in the market hours and don’t use live data. MY CHART ITSELF IS 15 MIN DELAYED, and finally, I am not in any business like that. This is purely sharing the available information, building confidence myself and to the community and trader friends, to get some ideas and supports from others.
So, be watchful, for those level, and see how it works. Weather these levels have any values. Is it resisting or supporting those level, then accordingly get use of it to make action. Finally price is the leading indicators, rest all are the derivations from price movement. Do You agree that?.
And market is supreme. Any one try to tame it within two line or a Fibonacci level will not work at all.
Level: Above 8910 nifty can move up 8940 & 8963 so how will you read it. Due to situation like hourly oversold. or an over night external influence, even a bearish close can give a pull back. So trading above 8910 will give confidence up 8940, one trading firmly above that level we may move to next barrier.
Same way market is having a bearish engulfing close yesterday. Hence priority is to be given for bearish view. And if nifty trade below 8891 we will see 8875 and 8827 sure.
Comment: support 8827***
Comment: @Parasuram,
The given level 8875 is a pivot point, but the real time market made a support at 8867 on Tuesday 28th.
That 8867 retested again today. hope that this will support strongly. i am not ready to jump in to a conclusion, before a confirmnation
Comment: it is hardly 7 points, which i already mentioned in my previous post.
Comment: Nifty seems to be protecting the 8862 level, where as BN is broken a major support ..

Comments

Nifty is still struggling to touch 9000 level, it may take more time to cross this point.
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padiyara Epicram
@Epicram, yah, that is the point. i agree that.
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Till the time nifty breaks Chanel, Buy at support and sell at resistance will be best strategy.
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padiyara swanandkulkarni77
@swanandkulkarni77, so the channel is broke yesterday itself, but that doesn't say market turned bearish,it need further confirmation.
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I agree with you. Yesterday after the high it starts falling. Now it will search for strong support for next rally. Today also Nify will have a gap down opening. Please share your views. It is like having cup of coffer in the morning. Waiting to see your views before Market hours. Keep continuing your valuable inputs.
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padiyara venkaticr
@venkaticr,
nice words, I am honored.
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venkaticr padiyara
@padiyara, Wellcome and we are blessed by your peoples sharing your thought in this platform. Hunting for the last 20 years is over. 24/7 Tradingview.com.
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padiyara venkaticr
@venkaticr,
oh prabhu
i mean OMG
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Parasuram padiyara
@padiyara, if trades consistently below yesterday's low, the correction can last longer.. it can be grinding leg down for 4-5 days and possible target is 8827 minimum. it may not do it in a jiffy.. After all the bulls have taken up the market from 7900 levels .. they wont give it up easily.. unless some strong triggers are there
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padiyara Parasuram
Yes. you are right. market is eagerly waiting for something.... other than profit booking,i dont see any reversal here, even though we have a 1020 point bull move.
Any push can make it stronger too.
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