After achieving target of inverse head and shoulder nifty fell sharply to touch 7935 (yesterday's low) and now recovered from there.
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.
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