Nifty is in uptrend as long as it holds red line at (8000). Nifty may hit new highs abov ethat but below the red line it may change its direction.
Monday, August 31, 2015
Nifty 31 Aug 2015
Nifty is in uptrend as long as it holds red line at (8000). Nifty may hit new highs abov ethat but below the red line it may change its direction.
Thursday, August 27, 2015
Nifty 27 Aug 2015
Nifty is holding YELLOW line today, below which nifty had given sharp fall yesterday. Nifty may touch RED line but today being expiry day of Aug series derivative contract, Nifty's further move may be uncertain.
Wednesday, August 26, 2015
Nifty 26 Aug 2015
The way the nifty is bouncing back from the lows is indicating that nifty has more upside and may touch RED line at 7998. Trend reversal (or resumption of bearish trend) should be below 7870.
Monday, August 24, 2015
Nifty 24 Aug 2015
Today was the worst day for markets in 2015. Nifty broke all the levels and now falling down like anything on global concerns. But remember one thing Bull markets are born on pessimism, It may not be born so early but at the time of pessimism things are available at very cheap prices. So investors who looking for value picks may start buying in smaller bites at this level. While traders should follow the trend who is the best friend.
Friday, August 21, 2015
Nifty 21 Aug 2015
Nifty broke down below RED (trend decider line) line as well as broke down from side ways pattern which indicated more weakness to come as discussed yesterday. Also, I was anticipating nifty to touch YELLOW line (shown at 8352) but nifty closed just above it and today it opened gap down below the same level,showing more downside. As of now though nifty looks bearish.
I personally squared off all short positions in morning as I am not getting any clue whether this down trend to continue further or nifty will have any bounce back. So now I have decided to stay in cash waiting for further clear trend to form on chart.
Thursday, August 20, 2015
Nifty 20 Aug 2015
Nifty broke down from RED line in the morning after trading around it for quite some time. Also it has broken down from side ways trend it had made in last 3 days. These all signs show nifty may give more downside from current levels and may touch YELLOW line which is a support.
Wednesday, August 19, 2015
Nifty 19 Aug 2015
From last 5 day's of nifty 5 mins chart, it is clear that nifty is trading sideways with bullish bias above RED line and has capacity to go further upwards if it holds that line.
Monday, August 17, 2015
Nifty 17 Aug 2015
From the chart it is seen that RED line is a trend decider. Now, above RED line nifty may go further upwards but below it more downside.
Friday, August 14, 2015
Nifty 14 Aug 2015
Nifty after taking support at yellow line now trading near its first resistance (shown with RED line) Which nifty has to cross for further uptrend, failing which we might see downward pressure.
Thursday, August 13, 2015
Nifty 13 Aug 2015
Nifty is now trading at oversold levels after a huge fall in last couple of days. It has a support at YELLOW line where it bounced twice in the past, but the confirmation of further trend may take some time.
Tuesday, August 11, 2015
Nifty 11 Aug 2015
Nifty could not break out of the RED line as mentioned in previous post and then sharply fell down is a sign that more weakness to come.
Wednesday, August 5, 2015
Nifty 5 Aug 2015
Nifty is in uptrend making higher highs and it may touch RED line, but RED line is a strong resistance and if nifty fails to break out of this line then it may fall down heavily.
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