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.
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.
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