TukkaNomist

TukkaNomist

Nifty is near 1/3 Gann support of 4530-12420. 1/4 support is at 6500. RSI is not in consensus with recent down move of last 8-10 sessions. -DMI has turned down below ADX but still above +DMI. ADX has still not turned head lower. 8300-8400 could be the supply zone. I will buy Nifty or selected stocks (on RS) near 6900 & 6500 for possible 20-25% upmove from sub...

TukkaNomist

I was negative in morning but now I have changed my stance to minor pullback as momentum indicator is showing a kind of divergence . 8630-8740 is the support zone for me.

TukkaNomist

Gold took support at $1451 and then bounced to 1554. Long tails can be seen on 4 hourly chart. What kind of response will people give to Gold in such conditions? Will cash in bank help you or cash in hand or move from less liquid assets like shares/bonds to more liquid assets like Gold ? People may ask why I am saying Gold as more liquid. If I have certified...

TukkaNomist

Nifty 15 minutes chart is still not showing any respite from correction. ADX cross over is ye to happen. Schiff pitchfork is showing the angle of trend. Mid band is working as support. 100 EMA is resistance. 9400 is the trigger for short covering.

TukkaNomist

Waiting to see how market reacts to pitchfork supports and resistance. 8760-8630 is the zone where I will observe markets behavior. If it goes below red and black line support zone then I will consider that short term top has been posted and we are moving for breaking of previous low. Till that time will stay on sideline. ADX cross over coupled with MACD cross...

TukkaNomist

I will buy above 10160 for 10540 or Sell below 9790 for 9400. Expect VIX to cool down little bit. So, I will go for both option buying and writing at the same time.

TukkaNomist

Nifty has closed below 104 weeks EMA and 208 weeks SMA. Index took lot of supports at these averages which can be clearly seen on chart. Let the market close above 11200 on weekly basis for 3-4 weeks to confirm that market has bottomed out. 500 day EMA ( 2 years trading sessions average) also comes at 11150. If market trades in between 9500-10800 then these...

TukkaNomist

Will + divergence on RSI be used to do mean reversion trade ? Hammer is also formed on weekly chart.

TukkaNomist

Will $13-14 act as buying zone ? Will silver rise when global economic predictions are for recession ?

TukkaNomist

As of now $1445 looks point of convergence for pitchfork, swing low and gann angle. Gold is likely to remain in uptrend till the time it is not posting daily and weekly close below $1440.

TukkaNomist

Negative divergence on RSI indicates that some bit of cool down may take place before resume of upmove in volatility. Break of RSI failure should be observed for confirmation. Option writing can be done who can take high risk and do not want to wait for RSI failure breakout. 80-40 rule of RSI must be remembered while observing CBOE VIX.

TukkaNomist

See chart of latest crash

TukkaNomist

Check 2008 crisis chart posted after this.

TukkaNomist

Is Tata Motor following a parallel chanel ? If yest then we may see bounce towards mid range & 20 DEMA before start of any new down trend. RSI has still not shown any kind of divergence. Let's see how things pan out over next couple of days