Nifty has formed a CUP & HANDLE on chart and has reversed from the base of it at last 30 minutes (last huge green candle) which is a bullish sign.
(I was not able to update my blog as I was on vacation.)
Monday, December 31, 2012
Nifty 31 Dec 2012 9:11 AM
Nifty has formed a CUP & HANDLE on chart and has reversed from the base of it at last 30 minutes (last huge green candle) which is a bullish sign.
(I was not able to update my blog as I was on vacation.)
Friday, December 21, 2012
Nifty 21 Dec 12 8:42 AM
Nifty has formed a DOUBLE TOP as shown in the chart which is acting as a resistance upside also it has formed a RESISTANCE ZONE (between two white trend lines) both of which will act as a strong resistance.
Thursday, December 20, 2012
Nifty 20 dec 12 9:21 AM
Nifty has formed a DOUBLE TOP and now corrected from there which is a bearish sign.
Wednesday, December 19, 2012
Nifty 19 dec 12 10:25 AM
Nifty after opening gap up now facing resistance as shown the chart. Downside the gap should act as a support.
Tuesday, December 18, 2012
Nifty 18 dec 12 12:58 PM
Nifty took support after falling heavily but recovered and now trading near its resistance. It has tasted this resistance many times in the past and if broken then we may see some upside. (as per daily chart nifty is still bullish)
Nifty 18 dec 12 9:23 AM
After taking support from the trend line (as shown in the chart with blue line) nifty today opened gap up but it may remain sideways till RBI credit policy announcement today
Monday, December 17, 2012
Nifty 17 dec 12 11:41 AM
Nifty is trying to take support on trendline as shown in the chart. But still trend looks sideways and RBI credit policy may give some direction tomorrow.
Friday, December 14, 2012
Nifty 14 dec 12 3:21 PM
Nifty broke the channel (refer to previous post) upside and now trading above the resistance which if sustains above 5900 is bullish. But nifty looks sideways until RBI credit policy comes next week.
Nifty 14 dec 12 2:14 PM
Nifty has formed downward trading channel and now taken resistance on topmost trendline of the channel (shown with two blue parallel trendline).
Nifty 14 dec 12 12:01 PM
Nifty has taken support at the bottom of the CUP as shown on the chart. But should face resistance from where it brokedown yeserday.
Thursday, December 13, 2012
Nifty 13 dec 12 2:02 PM
Nifty broke the support downside as shown in chart and corrected heavily and looks bearish.
NIfty 13 dec 12 10:53 AM
Nifty is trading in a narrowing range which is also a sideways movement with support on downside and resistance on upside with trendlines shown.
(You may ignore previous post)
Nifty 13 dec 12 10:12 AM
Nifty is trying to take support on trendline as shown in the chart, If nifty sustains above the trend line and gap it made today in the opening then we may see higher levels. If it does not then downside.
Wednesday, December 12, 2012
Nifty 12 dec 12 11:34 AM
Nifty is trading just above its support (which is the edge of the CUP) breaking which some more downside.
Nifty 12 dec 12 9:28 AM
Nifty as per chart is facing resistance as shown in chart. Yesterday it wiped out all gains it made in the morning by the end of the day which is bearish sign and nifty also looks weak as long as it does not break the resistance upside.
Tuesday, December 11, 2012
Nifty 11 dec 12 1:16 PM
Nifty wiped out all gains it made today and now trading below its opening price. Traders might have preferred to sell on higher level as nifty was moving near its psychological resistance of 6000.
Nifty 11 dec 12 12:01 PM
Nifty after rallying 30 points in morning session corrected few points down and now trying to take support as shown in charts.
Nifty 11 dec 12 9:07 AM
Nifty has formed a WEDGE as I have mentioned in my previous posts. It also holding the edge of the CUP which is acting as a support. There seems to be a breakout from this WEDGE at the end of the day yesterday which confirms that market is bullish and ready to touch new high but breaking support downside will be negative too, but nifty looks bullish from the charts.
Monday, December 10, 2012
Nifty 10 dec 12 10:55 AM
Nifty took support as I said in my previous post but facing resistance on trendline as shown in the chart making WEDGE like formation from which it may breakout or breakdown to give direction.
Nifty 10 dec 12 9:33 AM
Nifty on 30 mins chart has formed a CUP. on the edge of which nifty is trading currently. Nifty should hold this support and as long as it hold it it should be considered bullish. It may take its own time to decide the trend as it is already overbought.
Thursday, December 6, 2012
Nifty 6 dec 12 3:05 PM
Nifty took support on lower trendline of the channel and then there was a huge rally. This rally broke the upper trendline and now nifty is trading at its 52 week high. Till now nifty is bullish but overbought.
Tuesday, December 4, 2012
Nifty 4 dec 12 2:40 PM
Nifty is trading in HORIZONTAL TRADING CHANNEL in 30 mins chart which indicates that after huge rally nifty is now directionless and needs to break the channel in order to find the direction.
Thursday, November 29, 2012
Nifty 29 nov 12 9:37 AM
Nifty is trading above downward trading channel and if holds well above it for some more sessions then we may see new highs in coming days/weeks.
Tuesday, November 27, 2012
Nifty 27 nov 12 9:31 AM
After several attempts to sustain on higher level. finally opened gap up today and now looks bullish as nifty is way above the channel.
Monday, November 26, 2012
Nifty 26 nov 12 9:40 AM
There is no clear direction in nifty but nifty is sustaining above trading channel (please refer to previous posts). On friday it brokedown from the triangle and there was some fall in nifty but it took support on upper tradline of the trading channel and today there is gap up opening. If sustains on higher level and most important above CHANNEL will be bullish and breaking the same will be negative.
Friday, November 23, 2012
Nifty 23 nov 12 9:54 AM
Nifty has sustained well above the trading channel but it does not seem to be sustaining on higher level forming RISING TRIANGLE which is a bearish pattern. Decisive breakdown from the pattern will lead to some fall in the nifty.
( I will not be available throughout the day to update this blog will update this on monday)
Thursday, November 22, 2012
Nifty 22 nov 12 1:10 PM
Nifty made U turn as expected from the upper trendline of the downward trading channel confirming some more uptrend.
Nifty 22 nov 12 12:21 PM
Nifty should sustain above the upper trendline of the trading channel in order to confirm the uprend.
Nifty 22 nov 12 9:37 AM
Nifty after making many attempts to break the trading channel finally trading above it today which is a bullish sign. Further movement in nifty also depends in parliament session today.
Monday, November 19, 2012
Nifty 19 nov 12 9:29 AM
Nifty made a steep correction at the end of the day when it did not sustain in downward trading channel (refer to previous post). Nifty is still looks weak and may not sustain on higher level as per chart.
Friday, November 16, 2012
Nifty 16 nov 12 10:15 AM
Nifty on 30 mins chart is facing resistance at lower trendline of downward trading channel (refer to previous post)
Thursday, November 15, 2012
Nifty 15 nov 12 9:27 AM
Nifty opened gap down today and broke down from the channel as shown below indicating some more weakness/downside.
Friday, November 9, 2012
Nifty 9 nov 12 4:46 PM
Nifty brokedown for the second time from the upward trading channel (refer previous post) and there was a huge fall in the market today ( unable to post at the time of break down due to some other work) as seen in the chart.
Nifty 9 nov 12 9:00 AM
Nifty has formed upward trading channel on 3 minutes chart. which needs to breakout or breakdown as shown in the chart. Nifty is also facing resistance near 5740.
Thursday, November 8, 2012
Wednesday, November 7, 2012
Nifty 7 nov 12 9:43 AM
Nifty on 30 mins chart looks bullish above trendlines I have plotted. Further movement depends on outcome of US presidential elections. If Barack Obama wins market may take this as positive.
Monday, November 5, 2012
Nifty 5 nov 12 10:50 AM
Nifty on 30 mins chart has formed a double top which it needs to cross in order to move up failing which there may be some downside.
Friday, November 2, 2012
Nifty 2 Nov 12 12:33 PM
After spending some time in resistance zone (refer to previous post) nifty finally broke out and now trading above 5700 a key psychological level sustaining above which more upside.
Nifty 2 Nov 12 9:35 AM
Nifty facing resistance after a gap up opening today. If this resistance is passed then we will see higher levels.
Thursday, November 1, 2012
Nifty 1 Nov 12 1:58 PM
Nifty sustained well above the 5600 and now trading in green territory. Nifty to to face resistance as shown in chart beofore further trend. This level (5645) may also act as a trend decider.
Nifty 1 Nov 12 9:24 AM
Nifty looks bearish as per 30 mins chart and may go down further.
Tuesday, October 30, 2012
Nifty 30 oct 12 11:38 AM
Nifty on 30 mins chart has broken down from current wedge indicating more downside. Also Nifty has already brokendown on daily chart (refer to previous post) both indicating some more down side. Keep your nifty short (if created yesterday) or book if you wish.
Monday, October 29, 2012
Nifty 29 0ct 12 10:12 AM
.PNG)
Nifty on daily chart has broken down from the triangle and also just below 20 DMA both indicating some downside. Taking into consideration RBI's credit policy tomorrow all trades should be with tight stop loss.
Friday, October 26, 2012
Nifty 26 oct 2012 2:35 PM
Nifty on 30 mins chart has broken down from the triangle which is bearish sign. Nifty has corrected a lot from the gap down opening today but still some more weakness left.
Nifty 26 oct 12 9:36 AM
Nifty opened gap down today from the wedge it made indicating weakness.
Tuesday, October 23, 2012
Nifty 23 oct 12 9:53 AM
Nifty on chart is making rising triangle from which break out or breakdown needed for uptrend or downtrend respectively. (break down is more likely as rising triangle is a bearish pattern)
In previous post I wrote about triangle breakout but nifty does not seem to be sustaining above the level 5718.
Monday, October 22, 2012
Nifty 22 oct 12 3:07 PM
Breakout from triangle looks bullish but need to cross 5718 level.
Wednesday, October 17, 2012
Nifty 17 oct 12 9:31 AM
Nifty is not sustaining above 5700 which shows nify is weak on higher level.
Monday, October 15, 2012
Nifty 15 oct 12 10:12 AM
Nifty trading in narrowing triangle pattern which may break upwards.
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