Nifty waiting for more upside provided it sustains above the gap.
Monday, December 29, 2014
Wednesday, December 24, 2014
Nifty 24 Dec 2014 3:19 PM
Nifty has broken the gap and now trading below an important level of 8180. Both of these signs indicate further downside if nifty fails to breakout and sustain above 8180 and the gap.
Nifty 24 Dec 2014
After rallying 160 points from the gap of our Island reversal pattern nifty has corrected as per charts and still holding the gap. There is hope for bulls to come back in the market above this gap.
Tuesday, December 23, 2014
Nifty 23 Dec 2014
Nifty had opened gap down on 16th December and then opened gap up on 19th December has formed an ISLAND REVERSAL pattern due to gap up and gap down in the same area as seen in the chart. After gap down nifty went down by 250 points down so after gap up on 19th December nifty has possibility of going 250 points up as per charts. By now Nifty has completed around 160 points from the base at 8200.
Thursday, December 18, 2014
Nifty 18 Dec 2014 10:45 AM
Nifty is showing weakness at higher levels. Nearest support for nifty is at 8080 and nearest resistance at 8180.
Nifty 18 Dec 2014
Nifty has opened gap up but it is still below the important level of 8180 which may act as a resistance.
Tuesday, December 16, 2014
Nifty 16 Dec 2014
Nifty had broken down from 8180 which was support downside (refer to previous post). If nifty fails in any attempt to break out of 8180, it has a possibility to go down further.
Remember bearish trend is bent at the time of panic so trade with trend till it bends.
Monday, December 15, 2014
Nifty 15 Dec 2014
Nifty after opening gap down in the morning managed to fill the gap and now trading in green territory. Thick yellow line shown is a previous all time high breaking which on 31st oct 14 nifty rallied by more than 350 points upside.
Monday, December 8, 2014
Nifty 8 Dec 2014 10:22 AM
Weekly chart shows bend in trend. Market may not go down that easily as there is so much optimism among participants and near euphoria situation is getting built ( but not yet built).
The four most dangerous words in investing are ‘This time it’s different.’” - Sir John Templeton
Nifty 8 Dec 2014
Nifty has broken down from the our level of 8535 after long consolidation of last four trading sessions. Nifty to go down further if nifty fails to come above level of 8535 and we may see correction on daily and weekly charts as well.
Friday, December 5, 2014
Nifty 5 Dec 2014
Nifty is forming a triangular pattern as seen in the chart. Breakout or breakdown may occur from the triangle.
Tuesday, December 2, 2014
Nifty 2 Dec 2014
From the nifty movement, level of 8535 seems to be a very important level in terms of its trend in near future.
Tuesday, November 25, 2014
Nifty 25 Nov 2014 10:58 AM
Nifty after breaking yesterday's low now near 8454 which should act as a support. We should say reversal in trend only when this support is broken.
Nifty 25 Nov 2014
Nifty is weak on higher levels and now near yesterday's low breaking which we may see some downside and vice versa.
Friday, November 21, 2014
Nifty 21 Nov 2014
As I had mentioned in my previous post, nifty above 8381 rallied to touch 8454 (double top and all time high). If Nifty crosses that level and sustains there then we might see higher targets but failing which we may see huge fall.
Thursday, November 20, 2014
Nifty 20 Nov 2014
Above 8381 nifty may touch 8415 and breaking the 8415 it may go up to 8454. But for all this it should maintain above 8381.
Wednesday, November 19, 2014
Nifty 19 Nov 2014 2:02 PM
Nifty after breaking down its previous high at 8414 now heading toward 8382 as shown in the chart.
Tuesday, November 18, 2014
Monday, November 17, 2014
Nifty 17 Nov 2014 2:24 PM
Nifty broke out of the level of 8381and now trading in green territory at 8405. Nifty may touch 8414 which is its life time high and crossing and sustaining above which there is more upside.
Nifty 17 Nov 2014
Nifty is trading sideways between 8381 and 8365 and breakout on either sides should give it a direction.
Tuesday, November 11, 2014
Nifty 11 Nov 2014
Nifty after trading for time above red line ( level of 8365) again fell below it now there is a possibilty of more down side. Nifty may touch yellow line (level of 8300). However, if it breaks out again from 8365 then we may see resumption of uptrend.
Monday, November 10, 2014
Nifty 10 Nov 2014
Nifty is trading range bound with top near 8365 and bottom near 8300. Both bottom was tested 3 times each in last three trading sessions. Nifty is bullish unless and until level of 8300 is held.
Wednesday, November 5, 2014
Nifty 5 Nov 2014
Nifty opened gap up today just below yesterday's high but managed to cross that and after spending some time above it now Nifty is trading below that level indicating sideways trend with bullish bias. This type of behavior by market may lead to change in overall trend from bullish to bearish (rather correction after the rally).
Monday, November 3, 2014
Nifty 3 Nov 2014
Nifty broke life time high of 8180 and triple top at 8160 (as shown in the chart) and rallied over 150 points next day on 31st oct 14. This huge rally in one day after gap up is because nifty broke out of resistance zone 8180-8160.
Thursday, October 30, 2014
Nifty 30 Oct 2014
Nifty is approaching red line at 8160 the level at which nifty had formed triple top on 19th, 22nd and 23rd Sept 2014. Level of 8160 should act as a resistance and if nifty fails to break out of it then we might see nifty going down from it.
PS- I apologize for not updating this blog for last one moth due to personal reasons.
Tuesday, September 30, 2014
Nifty 30 Sept 2014
After achieving target of inverse head and shoulder nifty fell sharply to touch 7935 (yesterday's low) and now recovered from there.
Monday, September 29, 2014
Nifty 29 Sept 2014
Nifty has some more upside from chart formation. (inverse head and shoulder pattern)
Tuesday, September 23, 2014
Nifty 23 Sept 2014 1:37 PM
Nifty after breaking down from 8130 level fell sharply and now trading near yesterday's low of 8065. As I had mentioned in my previous posts 8130 is a level from where fall had started and nifty started trading in downward trading channel.(refer to previous posts) Nifty may fall further.
Nifty 23 Sept 2014
Nifty broke out the level of 8130 yesterday and had sharp upward rally. But nifty did not cross friday's high at 8160 and yesterday it made U turn to close the day at 8146. Today also it tried to cross the same level but failed and corrected to 8130 from where it bounced back now ( 8130 is a support downside). Breaking 8130 nifty will have more downside and vice versa.
Monday, September 22, 2014
Nifty 22 Sept 2014
Nifty had failed to sustain above 8130 (our decider level which nifty was trying to break and sustain above on Friday) and closed the last week below it.
Today nifty opened gap down which indicates more downside if it does not break out of 8130 and sustain above it.
8061 is a level where nifty may find support.
Friday, September 19, 2014
Nifty 19 Sept 2014
Nifty ahas opened gap up near the level of 8130 (8130 is very important level as nifty started its downtrend in a channel when it failed to sustain above this level as seen in the chart).
8130 is a decider.
PS- In my previous posts I have mentioned about channel breakout which happened yesterday as seen in the chart and nifty rallied more than 120 points. Channel breakouts are very powerful and longer the channel is longer is the surge after price breaks out of it.
Thursday, September 18, 2014
Nifty 18 Sept 2014 10:29 AM
After rallying nifty is now near horizontal red line at 8061 which may act as a hurdle.
Nifty 18 Sept 2014
After opening gap down below the channel it broke out of the channel and rallied more than 50 points.
Wednesday, September 17, 2014
Nifty 17 Sept 2014
Nifty just touched the lower trend line of the channel and correcting from there.
Tuesday, September 16, 2014
Nifty 16 Sept 2014 1:45 PM
Nifty has broken down from the channel and now going down further. I
Nifty 16 Sept 2014
Nifty is trading in a channel in red territory. Yesterday it attempted to break the channel on upside in second half of session but failed.
Monday, September 15, 2014
Nifty 15 Sept 2014
Nifty had broken out of the channel in the second half of the trading session on friday but today it opened gap down in the channel and fell sharply to test support at the lower trend line of it near 8030. In the channel it is in down trend. But any attempt to break it at upper trend line is positive.
Friday, September 12, 2014
Nifty 12 Sept 2014 2:33 PM
Nifty going up after the break out from the channel. 8130 is a first hurdle.
Nifty 12 Sept 2014
Nifty is trading in a downward trading channel and in the morning it tested the upper trend line of the channel and correcting from there now indicating more downside if remains in the channel and does not break out from it.
Thursday, September 11, 2014
Nifty 11 Sept 2014
Nifty is facing resistance near 8130 level (shown with red line) which is the high of yesterday and low of day before yesterday hence the important level.
Monday, September 8, 2014
Nifty 8 Sept 2014 10:29 AM
Nifty was trading in a Wedge pattern last month but this month's gap up opening above the pattern on weekly chart indicates some more upside from here if nifty holds the upper trend line of the pattern.
I must admit here that I was looking for a fall last month from this rising wedge but it did not happen and Nifty opened gap up and managed close the weekly candle above it last week meaning it still has a strength.
Tuesday, August 26, 2014
Nifty 26 Aug 2014 10:08 AM
Nifty is still trading below the upper trend line of the Wedge pattern. It touched the trend line and fell from that sharply in the second half of the session yesterday. Nifty has further downside if it sustains in the pattern.
Wednesday, August 20, 2014
Nifty 20 Aug 2014 4:32 PM
Nifty is trading in rising wedge pattern on weekly chart as seen in the chart. Today it opened at 7922 where it met with upper trend line of the wedge and then fell from it to close in the red at 7875.
Whenever Nifty met with the upper trend line it fell to touch the lower one (their contact points shown with arrows).
Tuesday, August 19, 2014
Nifty 19 Aug 2014 9:20 AM
Nifty above our decider level of 7750 ( strong support shown with thick yellow line) is bullish making higher highs. but remember bull markets die on EUPHORIA.
Thursday, August 14, 2014
Nifty 14 Aug 2014 12:32 PM
Nifty faced resistance near 7750 yesterday but managed to recover days losses at the end and today it broke 7750 (thick yellow line) which should act as a strong support downside and if held the level then nifty may touch its life time high levels again.
Wednesday, August 13, 2014
Nifty 13 Aug 2014 11:11 AM
Nifty facing resistance near 7750 (thick red line) which is an important level to look for.
Friday, August 8, 2014
Nifty 8 Aug 2014 9:30 AM
Nifty has opened gap down below the level of 7600 which was acting as a base in the uptrend (as shown in the chart). Which indicates further downside if sustains there. On 5th August, it touched resistance at 7750 (thick red line) but failed to cross it, which as mentioned in earlier posts is a decider level.
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