Nifty broke out of last 3 days of consolidation with gap up opening. RED line (near 8825) is a resistance in upside,
Friday, September 16, 2016
Nifty 16 Sept 2016
Nifty broke out of last 3 days of consolidation with gap up opening. RED line (near 8825) is a resistance in upside,
Friday, September 2, 2016
Nifty 2 Sept 2016
Nifty is in consolidation zone since last 2 trading sessions. This is a no trade zone and traders should wait for breakout on either side.
Saturday, August 20, 2016
Thursday, August 11, 2016
Wednesday, July 27, 2016
Nifty 27 July 2016
Nifty seems to be tired after rallying over 600 points since 24th June (BREXIT voting day). We need more time for further confirmation of trend. I did not post for long because of smooth uptrend we say since last few weeks. (This YELLOW line is important level to watch)
Friday, July 8, 2016
Nifty 8 July 2016
Nifty is facing resistance near RED line as per chart since last 3 trading sessions. Overall trend in Nifty is up but if Nifty i unable to cross RED line and sustain above it then there may be some correction as per chart.
Thursday, June 16, 2016
Nifty 16 June 2016
rom the chart it is seen that level of 8270 (shown with yellow line) is an important level upside which Nifty needs to break for further upside. Current trend shows Nifty may remain sideways before it find further trend.
Friday, June 10, 2016
Nifty 10 June 2016
Nifty had a strong spike on upside as seen in the chart. Now, Nifty looks indecisive and there is a chance of unexpected downside too. RED line (which I metioned in previous chart is an important level to watch as breaking which nifty has a more downside.
Thursday, June 9, 2016
Nifty 9 June 2016
Nifty fel sharlpy from YELLOW line and now near RED line which is another important level. Nifty may go down further if this level is not held.
Wednesday, June 8, 2016
Nifty 8 June 2016
Nifty may either resume its uptrend or go down from YELLOW line which is an important level to watch now.
Wednesday, June 1, 2016
Nifty 1 June 2016
Nifty took support at ORANGE dotted line yesterday. Current trend in Nifty seems to be sideways.
Tuesday, May 31, 2016
Nifty 31 May 2016
Nifty is facing resistance near RED line and may go down further. ORANGE dotted line is an important level to watch. Overall trend is up but overbought.
Friday, May 27, 2016
Nifty 27 May 2016
Nifty reversed its trend from down to up on 25th May and since then it has been making newer highs (after decisively breaking out of previous high). Now Nifty's one way rally without any correction shows that Nifty may be at overbought level now. (dotted ORANGE line at 8145 to watch)
Thursday, May 19, 2016
Wednesday, May 18, 2016
Nifty 18 May 2016
YELLOW dotted line is an important level to watch. Overall trend is still down but trend may change above YELLOW line.
Wednesday, May 4, 2016
Nifty 4 May 2016
Nifty has formed a base near BLUE line (which is a demand line). Nifty is bouncing back from oversold level now. But overall trend is down.
Friday, April 29, 2016
Nifty 29 Apr 2016
Nifty below RED line indicates downside but YELLOW dotted line is also an immediate support. As per intraday trend, Nifty is trading sideways.
Tuesday, April 26, 2016
Nifty 26 Apr 2016
I was expecting a continuation in downtrend when market opened gap down below YELLOW dotted line. But it reversed its trend and broke out of the dotted line and after taking support (shown with arrow) at the line there is now a huge upside in Nifty. I expect Nifty to go up further. We should watch for BLUE dotted line (at 7937)
Monday, April 25, 2016
Nifty 25 Apr 2016
Nifty is in a downtrend below RED line (as mentioned in previous post). YELLOW DOTTED line (near which nifty is trading as seen in chart) is a support downside breaking which more downside may be expected.
Friday, April 22, 2016
Nifty 22 Apr 2016
Traders should watch for RED line below which the downtrend may be confirmed. Nifty's so far intraday trend is weakly up.
Thursday, April 21, 2016
Nifty 21 Apr 2016
Nifty opened gap up and then fell down which indicates more downside to come and a trend reversal like situation on daily chart which needs confirmation.First big red candles in the morning of a day in last two trading sessions also indicates that current uptrend is exhausted.
(My apologies for not updating this blog so often as I am busy with some other work these days)
Wednesday, April 13, 2016
Nifty 13 Apr 2016
Nifty is facing some hurdle near YELLOW dotted line. In intraday Nifty is in uptrend but on daily chart it is overbought.
Tuesday, April 12, 2016
Nifty 12 Apr 2016
Nifty's intraday trend is up but its overall trend is sideways. Also, Nifty may face resistance near BLUE line.
Thursday, April 7, 2016
Nifty 7 Apr 2016
Nifty is in downtrend. It's change is trend was confirmed on 5th April only (when nifty fell down heavily after RBI declared rate cuts) but could not update that here as I am busy with some work these days. (but now Nifty is bouncing back from an oversold levels)
Thursday, March 31, 2016
Nifty 31 March 2016
Nifty's this uptrend seems to be halting. Waiting for the confirmation as it may be too early to say this.
Friday, March 18, 2016
Nifty 18 March 2016
Yesterday Nifty fell sharply but held on to GREEN line. Nifty has just broken out of previous high (shown with WHITE line) after gyrating around around ORANGE line which indicates more upside. (Now nifty should not fall back down below WHITE line which may trigger down trend)
Thursday, March 17, 2016
Nifty 17 March 2016
Nifty suddenly changed its trend yesterday and managed to close above GREEN line which indicated more upside. Now Nifty is struggling to break out of previous high (shown with WHITE line which may act as a resistance).
Monday, March 14, 2016
Nifty 14 March 2016
After opening gap up and giving spike, Nifty is gradually going down which indicates more downside to come. ORANGE line is to watch on upside and on downside GREEN line. Any attempt of Nifty to break down from GREEN line confirms downtrend.
Friday, March 11, 2016
Nifty 11 March 2016
Nifty is still in sideways trend and bias is towards upside as Nifty is not sustaining below GREEN line and quickly moves up every time it goes below it. We should wait for trend to set in next week.
Thursday, March 10, 2016
Nifty 10 March 2016
Nifty is not sustaining above GREEN line though it closed above it yesterday. It may have more downside from current level if it continue to trade below GREEN line.
Wednesday, March 9, 2016
Nifty 9 March 2016
Nifty has been trading sideways since last two trading sessions. Today it moved in uptrend and filled the gap it made because of the gap down opening but remained range bound. Nifty needs decisive breakout on either sides for further direction.
From the chart it is clear that GREEN line is the most important level to watch.
Friday, March 4, 2016
Nifty 4 March 2016
Nifty is facing resistance near GREEN line (level where from where nifty began its downtrend on 8th Feb to make new low on 12th Feb). Nifty is currently trading sideways and breakout on one of either sides may give it a direction.
Wednesday, March 2, 2016
Nifty 2 March 2016
A gap up opening above resistance of 7241 (shown with down arrow) indicates more upside in coming sessions though Nifty may correct from current levels now.
Tuesday, March 1, 2016
Nifty 1 March 2016
Nifty has a resistance near 7241. Nifty had fallen from this level on 23rd Feb (shown with down arrow) Yesterday Nifty had huge up and down movements as seen in chart because of union budget but today it opened gap up and rallied.
Monday, February 29, 2016
Nifty 29 Feb 2016
5 mins chart
Nifty is trading around RED line which is a trend decider. Outcomes of Budget may decide further trend. The trend which is on chart is sideways now.
Friday, February 26, 2016
Nifty 26 Feb 2016
Nifty has been trading near RED line since last two trading sessions. It should sustain above RED line for more upside as overall trend is down.
Wednesday, February 24, 2016
Thursday, February 18, 2016
Nifty 18 Feb 2016
Nifty's recovery from day's low and its close near day open is a positive sign. Let's see how Nifty trades next week.
Wednesday, February 17, 2016
Nifty 17 Feb 2016
Yesterday, Nifty did break out of triangular pattern but later failed. (it happens as technical analysis is not exact science and the reason why one should always have proper stop loss and money management skill before trading in the markets.)
Today, Nifty is in downtrend (in intraday) but if it breaks out of the RED line (near 7030) then the trend may change.
Tuesday, February 16, 2016
Nifty 16 Feb 2016
Nifty must break out of the falling triangular pattern in order to resume yesterday's uptrend.
Friday, February 12, 2016
Nifty 12 Feb 2016
Nifty fell sharply once it opened gap down near RED line (trend decider) as mentioned in previous post. Also it broke down from previous low (near 7241) and panicked yesterday. Today it extended yesterday's downfall. They say that in the panic forms a bottom. We are yet to confirm whether there will be any trend reversal from current level.
Monday, February 8, 2016
Nifty 8 Feb 2016
I have encircled a pattern in the Nifty which was seen in charts on 2nd Feb (bigger dotted circle) and on today (shown with smaller dotted circle) after this pattern Nifty has given a huge fall on both the days.
Friday, February 5, 2016
Nifty 5 Feb 2016
Nifty took support at RED line yesterday and now it is trying to break out of a consolidation zone.
Thursday, February 4, 2016
Nifty 4 Feb 2016
Above 5 mins 20 days chart shows that Nifty has a strong resistance above current levels because of the consolidation zone created by nifty from 25th Jan to 29th Jan (nifty broke out of it on 29th Jan). At downside Nifty has support near RED line. This RED line is also a trend decider.
Friday, January 29, 2016
Nifty 29 Jan 2016
I was expecting today's rally of more than 60 points to take place on yesterday, but Nifty suddenly fell down sharply in the latter half of the session and held on to the WHITE line and just closed above it. This sudden pullback of Nifty might be due to expiry day yesterday. As per the charts Nifty is about to break out of consolidation zone and has more upside from current levels.
Thursday, January 28, 2016
Nifty 28 Jan 2016
Nifty is trying to hold above WHITE line since last two trading sessions which indicates Nifty may resume uptrend.
Friday, January 22, 2016
Nifty 22 Jan 2016
For further uptrend Nifty must break out of the RED line and sustain above it.
Wednesday, January 20, 2016
Nifty 20 Jan 2016
Nifty had a huge fall of over 600 points in last two weeks. And now it is bouncing back from oversold levels. Nifty should reverse it's trend from current levels and show some upward rally in coming sessions if manages to hold levels.
Thursday, January 14, 2016
Nifty 14 Jan 2016
From the chart it is clear that since last few trading sessions Nifty is bouncing back from the day's low as seen on 11th Jan, 13th Jan and 14th Jan (today). Even on 13th Jan Nifty opened gap up in the morning after making lower lows on 12th Jan. This behavior of Nifty like a bouncing ball indicates a bottom forming and further change in trend. Although it may be too early to say that uptrend may start because as per the chart Nifty is in down trend so far.
Wednesday, January 13, 2016
Nifty 13 Jan 2016
Nifty has further upside if sustains above ORANGE line. Trend is still down on daily chart. Change in trend will be above WHITE line (near 7610)
Monday, January 11, 2016
Nifty 11 Jan 2016
Gap down in the morning then filling of gap by the end of today's session indicating that trend is about to change. But change in trend is not yet confirmed.
Subscribe to:
Posts (Atom)