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.
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)
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