Nifty has bounced back from day's low and now trading above 200 DMA but facing resistance due to tuesday's consolidation area.
Nifty is above 200 DMA at 5627.
Thursday, March 28, 2013
Nifty 28 Mar 2013 1:33 PM
Nifty has bounced back from day's low and now trading above 200 DMA but facing resistance due to tuesday's consolidation area.
Nifty is above 200 DMA at 5627.
Tuesday, March 26, 2013
Nifty 26 Mar 2013 8:46 AM
Nifty did not sustain above the falling wedge and broke down after some consolidation yesterday. Nifty should broke out of the wedge and sustain there if it wants to go up.
Nifty is near 200 DMA (at 5624)
Monday, March 25, 2013
Nifty 25 Mar 2013 10:03 AM
Nifty after taking support on lower trend line of the falling Wedge pattern now trying to sustain above the upper trend line of it. If it sustains then there is more upside from here.
Friday, March 22, 2013
Nifty 22 Mar 2013 8:40 AM
Nifty is oversold after sharp downside and now broke the support from where it bounced back on 4rth March 13.
Thursday, March 21, 2013
Nifty 21 Mar 2013 8:40 AM
30 mins chart
Nifty has formed a falling triangle in yesterday's trade and a breakout from this triangle may lead to an upward rally.
Wednesday, March 20, 2013
Nifty 20 Mar 2013 9:45 AM
Nifty testing support but at the same time it looks bearish as inverted saucer which was made yesterday broke down today in the morning which acting as a bearish pattern. Caution for bears as it is now oversold market but political drama in the country along with Cyprus problem may act as a driver to this market.
Monday, March 18, 2013
Nifty 18 Mar 2013 2:18 PM
Nifty is facing resistance due to 20 DMA at 5842. Gap is also acting as a resistance. Nifty has formed SAUCER like pattern today as seen in the chart with bottom near 5820 from where it bounced back on 14 Feb 2013.
Thursday, March 14, 2013
Wednesday, March 13, 2013
Nifty 13 Mar 2013 9:28 AM
Nifty opened gap down today which may be bearish as shown in the chart.( Chart explains enough).
Monday, March 11, 2013
Nifty 11 Mar 2013 8:42 AM
Nifty is going up breaking all its resistances with support from Dow (which is making newer highs). Nifty after rallying more than 250 points in the last week may halt near 5950.
Both 50 DMA at 4945 and Plateau which was made on 20 Feb 2013 ( http://niftystudycharts.blogspot.in/2013/02/nifty-22-feb-2013-854-pm.html ) may act as a resistance.
Friday, March 8, 2013
Nifty 8 Mar 2013 9:35 AM
Nifty is breaking all its resistances with support from global cues. Yesterday it broke 20 and 100 DMAs near 5845.
Thursday, March 7, 2013
Nifty 7 Mar 2013 2:54 PM
Nifty after opening gap down formed a base as shown in the chart and also held the level of 5800. This base formation acted as a support from where nifty bounced back. Nifty has a resistance near 5850 from where it fell sharply on 28 Feb 2013.
Nifty 7 Mar 2013 8:35 AM
Nifty looks weak on higher level especially near 5835 making triangle. If nifty breaks down from that then there will be some downside and if breaks out then there will be a bullish rally. But nifty looks weak.
Wednesday, March 6, 2013
Nifty 6 Mar 2013 8:37 AM
Nifty after breaking 5750 and taking support on it has some more upside. 5835 is a next level where it may face resistance.
Tuesday, March 5, 2013
Nifty 5 Mar 2013 9:22 AM
Immediate resistance for nifty is at 5750 breaking which will give it strength for more upside.
Friday, March 1, 2013
Nifty 1 March 2013 8:44 AM
Nifty is still bearish and has a potential to go down further (caution : nifty is also oversold at these levels). As shown in the chart if unable to break and sustain above 5750 nifty may test the lower levels.
5750 is the level from where nifty bounced back on 27th Feb 13 forming V shaped recovery but could not cross the gap which which was created on 26 th Feb 13 ( near 5836) and fell heavily yesterday breaking 5750 (last hope for bulls) which triggered blood bath.
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