Nifty is facing resistance near 6100 and has formed a double top. As long as nifty breaks the double top it is bearish.
Wednesday, January 30, 2013
Nifty 30 Jan 13 9:12 AM
Nifty is facing resistance near 6100 and has formed a double top. As long as nifty breaks the double top it is bearish.
Tuesday, January 29, 2013
Nifty 29 Jan 2013 9:28 AM
Nifty is quiet before the RBI policy today which may give it a direction.
Monday, January 28, 2013
Nifty 28 Jan 13 8:49 AM
Nifty was facing resistance on downward trend line on 30 mins chart but it broke it on friday in 4rth attempt and there was an upward rally (I could not update my blog on this break out as I was away for another work). There is still resistance near 6100 from where we came down last week.
Thursday, January 24, 2013
Nifty 24 Jan 13 3:21 PM
Nifty is in downtrend making lower lows on 30 mins chart. January is more of RED in the history of Nifty. Nifty looks bearish as per daily chart and it may correct further.
Wednesday, January 23, 2013
Nifty 23 Jan 12 9:35 AM
Nifty is moving up making narrowing wedge pattern. As shown in the chart, it is facing resistance on upper trend line of the pattern but may find support on the lower trendline also. Breaking one of these trend lines should give direction for the nifty on either sides.
Tuesday, January 22, 2013
Nifty 22 Jan 13 10:02 AM
Nifty has formed a tringular pattern with rounding bottoms (indicating buy on dips by traders) on 30 mins chart. If it sustains above the triangle then we may cross 6100 if does not sustain then we may some downside. But in the month of January bulls should be cautious.
Monday, January 21, 2013
Nifty 21 Jan 13 12:47 PM
Nifty seems to be tired on higher levels the way it is correcting and filling the gap it makes everytime.
This bull run in the market was started in the month of January 12 and now it completed 12 months.
Friday, January 18, 2013
Nifty 18 Jan 13 11:03 AM
Nifty is in bullish trend as it is making higher highs but looks tired on higher level. Today it made a gap up opening which may act as a support.
Tuesday, January 15, 2013
Nifty 15 Jan 12 3:03 PM
Nifty after breaking the resistance (refer previous post) resumed uptrend and now trading at its 52 week high level. Nifty is bullish and has broken all its resistances.
Nifty 15 Jan 12 12:22 PM
Nifty which is trading in upper trading channel now seems to be tired on higher level and facing resistance near 6040 indicating it may correct little before resuming uptrend.
Monday, January 14, 2013
Nifty 14 Jan 13 2:24 PM
Nifty is trading in its resistance zone and looks like it is going to break it but traders should be cautious on these levels.
Thursday, January 10, 2013
Nifty 10 Jan 13 9:10 AM
nifty 30 mins chart
Nifty is sideways since 2nd January forming horizontal trading channel ( between two white trend lines) on 30 mins chart as shown chart. It had made gap up opening on 2nd January and that gap is now acting as a support downside (between two yellow trend lines).
6000 is an important psychological level and may act as a resistance upside.
Wednesday, January 2, 2013
Nifty 2 Jan 2013 9:36 AM
Nify was in HORIZONTAL TRADING CHANNEL since last one month (means was trading sideways shown between two white line plotted on chart), this channel was broken today with gap up indicating some more upside.
Nifty may spend some time before breaking psychological resistance of 6000.
Tuesday, January 1, 2013
Nifty 1 Jan 2013 9:17 AM
On daily chart nifty has formed a triangle (shown with two blue trend lines) and also double bottom (shown with yellow trend line) both of which confirm the uptrend or bullish mood of the market.
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