Nifty 29 Apr 2016

                                                                          5 mins chart

Nifty below RED line indicates downside but YELLOW dotted line is also an immediate support. As per intraday trend, Nifty is trading sideways.  

Nifty 26 Apr 2016

                                                                       5 mins chart

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)

Nifty 25 Apr 2016

                                                                           5 mins chart

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. 

Nifty 22 Apr 2016

                                                                   5 mins chart

Traders should watch for RED line below which the downtrend may be confirmed. Nifty's so far  intraday trend is weakly up. 

Nifty 21 Apr 2016

                                                                  5 mins chart

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)

Nifty 13 Apr 2016

                                                                     5 mins chart

Nifty is facing some hurdle near YELLOW dotted line. In intraday Nifty is in uptrend but on daily chart it is overbought. 

Nifty 12 Apr 2016

                                                                   5 mins chart

Nifty's intraday trend is up but its overall trend is sideways. Also, Nifty may face resistance near BLUE line. 

Nifty 7 Apr 2016

                                                      5 mins chart

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)