Nifty took support at 6284 yesterday and opened gap up both the signs are positive for upward rally but today being the last day of the year (holiday mood) there is doubt whether it will go up further.
Tuesday, December 31, 2013
Nifty 31 Dec 2013 9:20 AM
Nifty took support at 6284 yesterday and opened gap up both the signs are positive for upward rally but today being the last day of the year (holiday mood) there is doubt whether it will go up further.
Monday, December 23, 2013
Nifty 23 Dec 2013 11:28 AM
Nifty is facing resistance as shown in the chart. Nifty held the support at 6150 (refer to previous post) and now trading near 6300.
Thursday, December 19, 2013
Nifty 19 Dec 2013 9:57 AM
Nifty has filled the gap of Island reversal pattern (refer to previous post) in the morning and now ready to go down further. Level of 6150 may act as a support downside breaking which more downside awaits.
Monday, December 16, 2013
Nifty 16 Dec 2013 11:48 AM
Nifty has made a Island reversal chart formation (two gap and an island like consolidation zone) which is a bearish pattern. Nifty is now trading near the low (shown with yellow line) which may act as a support downside. Support level of 6155 from where nifty opened gap up next day on 5th Dec 13 and touched life time high on 9th Dec 13.
Thursday, December 12, 2013
Nifty 12 Dec 2013 9:31 AM
Nifty after filling gap which it made on monday has been filled and now it is near the closing of friday which may give sudden upward rally. Data on inflation and IIP nos may give future direction.
Thursday, December 5, 2013
Nifty 5 Dec 2013 10:18 AM
Nifty corrected a little as I had posted earlier but today it opened with huge gap up on exit poll results. Now it is facing resistance as shown with white trend line.
Tuesday, December 3, 2013
Nifty 3 Dec 2013 9:17 AM
Nifty is facing resistance near the upper end of the channel (shown with two red lines) which may lead to further downside.
Thursday, November 28, 2013
Nifty 28 Nov 2013 9:58 AM
Nifty may face resistance near red line (lower end of the channel) and if breaks the red line (at 6135 and enters the channel) then there may be short covering rally.
Thursday, November 21, 2013
Nifty 21 Nov 2013 9:42 AM
Nifty opened gap down today near the high of 14th November breaking which nifty gained the strength to break lower end of the channel and rally till 6210 ( but could not touch 6220 which was higher end of the channel ). Nifty may take support near the gap up opening of 14th November or ate least it should hold the level.
Nifty 21 Nov 2013 9:25 AM
Nifty could not touch upper trend line of the channel and fell sharply after some failed attempts and broke lower trend line of the channel and closed below it is a bearish sign.
Monday, November 18, 2013
Nifty 18 Nov 2013 2:59 PM
Nifty after breaking the lower trend line of the channel (red line) now going up. It may touch upper trend line of the channel at 6220 in coming sessions.
Nifty 18 Nov 2013 9:18 AM
Nifty is trading near the red line which is lower trend line of the channel shown with two red lines as shown in the chart.
Tuesday, November 12, 2013
Nifty 12 Nov 2013 11:40 AM
Level which was acting as a support yesterday finally broken today as seen in the chart which confirms some more downside.
Nifty 12 Nov 2013 9:18 AM
Nifty taking support at the level from where it bounced back to give new 5 year high on 3rd Nov 2013. Nifty may have more strength once it trades in between two red lines.
Wednesday, October 30, 2013
Nifty 30 Oct 2013 9:59 AM
Nifty broke all resistances yesterday and again touched previous high at 6252 which is a bullish sign. Nifty is facing resistance at that level now and it (level of 6252) may decide the trend of near future.
Friday, October 25, 2013
Nifty 25 Oct 2013 9:21 AM
Nifty did not sustain above the resitance level of 6219 and fell sharply to break the support near 6170 which is a bearish sign.
Wednesday, October 23, 2013
Nifty 23 Oct 2013 9:58 AM
Nifty failed to break 6219 as discussed in previous post and now corrected to the level which may hold the nifty.
Tuesday, October 22, 2013
Nifty 22 Oct 2013 11:37 AM
Nifty failed to break yesterday's high two times at 6219 today which indicates for further upside it should break the that level. Nifty if unable to break that level then it may correct further.
As I said in my previous post nifty when broke the channel upside at 5931 made a huge bullish rally of more than 200 points.
Thursday, October 10, 2013
Nifty 10 Oct 2013 8:33 AM
As I have mentioned in my previous post above the Channel target for nifty is 6050 and yesterday's bullish engulfing candle says real target may be more than 6050. Remember we were in the sideways trend which formed a channel pattern for more than a month and it was decisively broken out yesterday which says more upside from here.
Wednesday, October 9, 2013
Nifty 9 Oct 2013 9:21 AM
Nifty opened gap up yesterday but did not sustain above the channel and closed below upper trend line of it which is a bearish sign unless and until nifty does not break the channel upwards now downside target becomes near 5800 which is lower trend line of the channel.
In my view one should avoid trading in the channel as market may give unexpected moves in the channel.
Tuesday, October 8, 2013
Nifty 8 Oct 2013 2:32 PM
Nifty is taking support on the upper trend line of the channel and as long as it holds the upper trend line is a positive sign for bulls. Sustaining above the channel the target for nifty comes at 6050.
Nifty 8 Oct 2013 8:37 AM
Nifty after spending nearly a month in the channel today opening gap up on the positive news from the RBI last evening. Yesterday only nifty gave a hint about today's gap up opening by covering day's losses and closing above 5900. Gap up opening after nearly month's consolidation is a bullish sign.
Monday, October 7, 2013
Nifty 07 Oct 2013 9:44 AM
Nifty touched the upper trend line of the channel on friday (04 Oct 13) but failed to break it and now it is correcting. It may touch lower trend line of the channel near 5810.
Friday, October 4, 2013
Nifty 4 Oct 2013 10:55 AM
Nifty after touching upper trend line of the channel (Channel shown with two yellow trend lines) has now corrected a little. Nifty may remain sideways if it remains in the channel.
Thursday, October 3, 2013
Nifty 3 Oct 2013 11:24 AM
Nifty after taking support at 5700 yesterday now trading in a channel (between two yellow lines) which is a positive sign and nifty should touch upper trend line of the channel at 5930 in coming sessions.
Monday, September 30, 2013
Nifty 30 Sept 2013 11:45 AM
Nifty after trading sideways in a channel today opened gap down below the lower trend line of it which indicates nifty to go down further.
Tuesday, September 24, 2013
Nifty 24 Spet 2013 10:09 AM
Nifty has broken out of a channel which is a positive sign and now near a resistance (shown with red line).
Tuesday, September 17, 2013
Nifty 17 Sept 2013 9:30 AM
Nifty is trading sideways in the horizontal trading channel breaking which in either sides may give it a direction.
Wednesday, September 11, 2013
Nifty 11 Sept 2013 10:03 AM
Due to personal problems I am not able to publish posts.
I will start posting monday (16th Sept) onwards.
I will start posting monday (16th Sept) onwards.
Tuesday, September 3, 2013
Nifty 3 Sept 2013 2:58 PM
Nifty fell sharply when support of 5500 was broken after some consolidation near it today. Nifty is now near the low of 30 Aug 2013 (last friday) which it made and then rallied to break the level of 5500. Nifty if holds the low then again it may attempt to break the level of 5500 but if fails then more downside awaits.
(Today's fall may be a correction of steep rally from 5150 to 5556 in my view and I have this view because nifty looks oversold at this level to me but market behaves the way it wants so trade with trend till it bends.)
Nifty 3 Sept 2013 9:51 AM
Nifty falling from the small channel it made yesterday. Nifty may remain sideways near 5500 which is a support.
Nifty 3 Sept 2013 8:44 AM
Nifty has broken out of downward trading channel (shown with yellow lines) and the resistance near 5500 and managed to close first day of this month above it. Nifty may touch 5700 in short term if sustains above 5500 in coming sessions.
Monday, September 2, 2013
Nifty 2 Sept 2013 12:24 PM
Nifty broke the resistance after consolidation which says the nifty may rise till 5700 (still daily and weekly charts are yet to confirm the target). Cautions to bulls are that nifty has risen a by more than 200 points on last couple of days and Rupee is still near 65 which may drag nifty down suddenly.
Friday, August 30, 2013
Nifty 30 Aug 2013 10:06 AM
Nifty has opened above the channel and after correcting a little below it now trading above it indicating more upside from here, but gap between 5476 and 5224 (on 27th Aug) may act as a resistance upside.
Nifty 30 Aug 2013 8:45 AM
Nifty in a downward trading channel and closed yesterday near the upper trend line of it.
Wednesday, August 28, 2013
Nifty 28 Aug 2013 9:58 AM
Nifty opened gap down today with weak global cues and falling rupee against Us dollar. I spotted a falling wedge yesterday but today's gap down opening has made it useless. Nifty is also below its previous low near 5280 which indicates more down side from current level.
Tuesday, August 27, 2013
Nifty 27 Aug 2013 3:30 PM
Nifty has formed a falling wedge pattern in the down trend today which is a bullish sign only if nifty holds today's low and support it took on 22nd Aug 2013 (as seen in the chart) and breaks the upper trend line of the WEDGE.
Friday, August 23, 2013
Nifty 23 Aug 2013 11:13 AM
Nifty is facing resistance near 5440 from where it broke down on 21 Aug 13 after some consolidation, which led to a blood bath.
Thursday, August 22, 2013
Nifty 22 Aug 2013 12:48 PM
Nifty after sustaining above the low of yesterday and today finally managed to cover losses and now traading in the green territory. Nifty after some consolidation may go up more.
Nifty 22 Aug 2013 11:50 AM
Nifty is still holding yesterday and today's low which is some hope for bulls and breaking which there may be a down fall (Rupee has just reached new all time low at 65.44).
Wednesday, August 21, 2013
Nifty 21 Aug 2013 10:02 AM
Nifty opened gap up near 5500 level which is a strong resistance level upside. Nifty had found support twice at the same level in the past (On 15th Apr 13 and 8th Aug 13) and now support has become resistance as shown in the chart.
Tuesday, August 20, 2013
Nifty 20 Aug 2013 11:23 AM
Nifty showing strength above our trend decider level of 5350, It may further face resistance at 5425 (pivot point level) and 5350 below will act as a support.
Nifty 20 Aug 2013 10:01 AM
Nifty has taken support at the upper trend line of the channel and now facing resistance near 5350 which may decide the trend today.
Nifty 20 Aug 2013 9:20 AM
Weakness in the Rupee against US dollar dragging the nifty down further. Nifty opened gap down below Support1 (at 5350) of the Pivot point (at 5425). Nifty if fails to come out of the channel then may go down further.
Monday, August 19, 2013
Nifty 19 Aug 2013 3:05 PM
Nifty has formed a downward trading channel in the fall as shown in the chart. Nifty after continuing in the channel now trading out of it which indicates nifty is ready for the bounce back from the lower levels.
Friday, August 16, 2013
Nfty 16 Aug 2013 9:58 AM
Nifty broke down from the rising wedge and though it found support due to gap up opening on 14th Aug, it opened gap down today below the gap up it made on 14th Aug and slipped more than 100 points down.
5750 once gain confirmed to be an important level.
(Note - RISING WEDGE is a bearish pattern but due to bullish rally nifty though broke down from it managed to cover the losses and closed the day near 5750 on 14th Aug.)
Wednesday, August 14, 2013
Nifty 14 Aug 2013 12:16 PM
Nifty has made a RISING WEDGE FORMATION and broke down from it which indicates some more downside from here.
Tuesday, August 13, 2013
Nifty 13 Aug 2013 11:29 AM
Nifty is near resistance as shown with two red line. This resistance has been created due to gap down opening on 6th August 13. However nifty has broken yesterday's high which is positive sign.
Monday, August 12, 2013
Nifty 12 Aug 2013 11:28 AM
Nifty trading above the channel it was following in the down trend and the resistance which it was facing became support (Shown with the yellow line) both are positive for it.
Thursday, August 8, 2013
Nifty 8 Aug 2013 1:00 PM
Nifty after some upside now near upper trend line of the channel. Decisive break out from this channel may give nifty more strength.
Subscribe to:
Posts (Atom)