Nifty above 8825 is in strong bullish momentum as mentioned earlier.
Saturday, February 28, 2015
Nifty 28 Feb 2015 3:29 PM
Nifty above 8825 is in strong bullish momentum as mentioned earlier.
Nifty 28 Feb 2015
Nifty is trading near 8825 which is an important level and trend decider.
Friday, February 27, 2015
Nifty 27 Feb 2015
Nifty is again testing resistance near a very important level of 8825 which needs to be crossed in order to gain more strength in an uptrend. Level of 8835 is a support which nifty crossed in the morning as seen in the chart.
Wednesday, February 25, 2015
Nifty 25 Feb 2015
Nifty is unable to sustain above 8825 and giving steep correction when breaking down from it. Nifty has a support near 8735 and also the trend is bullish as per charts.
Tuesday, February 10, 2015
Nifty 10 Feb 2015
Nifty is now testing support at white trend line. It had tested resistance at red trend line as seen the chart and then fell sharply.
Friday, February 6, 2015
Nifty 6 Feb 2015
Nifty tested the support for the 6th time yesterday and now trading in green territory (It opened gap down in the red territory). It is having strong resistance near 8825 (shown with thick red line) which if crossed then only uptrend is confirmed. Nifty is making newer lows every day since last 5 trading sessions is a bearish sign.
Thursday, February 5, 2015
Nifty 5 Feb 2015 2:41 PM
Nifty after the breakout from the wedge chart pattern rallied by more than 100 points and now correcting from the thin red line where it had faced resistance in the past as seen in the chart and shown with downward arrows.
Nifty 5 Feb 2015
Nifty has finally broken out of a Wedge pattern after taking support for the 5th time on its lower trend line. Since market had turned bearish in last few days, Nifty needs to cross some hurdles upside for the confirmation of change in trend.
Wednesday, February 4, 2015
Nifty 4 Feb 2015 3:35 PM
Breakout in nifty which I mentioned failed to cross ans sustain above its first hurdle (near 8776) and there was sharp fall afterwards, Nifty is still holding the lower trend line of the WEDGE (It managed to close above the Wedge) pattern which is an indication of a breakout and an upward rally. But Nifty must break out of its nearest hurdles for the confirmation. If this does not occur then nifty may continue with its bearish trend.
Nifty 4 Feb 2015
Nifty seems to have broken out from the falling wedge pattern which is considered as bullish/trend reversal pattern. Nifty has many hurdles upsides which need to be crossed and sustained above them.
Tuesday, February 3, 2015
Nifty 3 Feb 2015
Nifty failed to cross and sustain above 8825 (same level was mentioned yesterday also) and fell sharply from it. Nifty is in downtrend on daily chart and any attempt to break out of 8825 is a trend reversal.
Monday, February 2, 2015
Nifty 2 Feb 2015
Nifty falling after failing to sustain above the level of 8825 as seen in the chart.
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