Nifty has formed a CUP & HANDLE on chart and has reversed from the base of it at last 30 minutes (last huge green candle) which is a bullish sign.
(I was not able to update my blog as I was on vacation.)
Monday, December 31, 2012
Nifty 31 Dec 2012 9:11 AM
Nifty has formed a CUP & HANDLE on chart and has reversed from the base of it at last 30 minutes (last huge green candle) which is a bullish sign.
(I was not able to update my blog as I was on vacation.)
Friday, December 21, 2012
Nifty 21 Dec 12 8:42 AM
Nifty has formed a DOUBLE TOP as shown in the chart which is acting as a resistance upside also it has formed a RESISTANCE ZONE (between two white trend lines) both of which will act as a strong resistance.
Thursday, December 20, 2012
Nifty 20 dec 12 9:21 AM
Nifty has formed a DOUBLE TOP and now corrected from there which is a bearish sign.
Wednesday, December 19, 2012
Nifty 19 dec 12 10:25 AM
Nifty after opening gap up now facing resistance as shown the chart. Downside the gap should act as a support.
Tuesday, December 18, 2012
Nifty 18 dec 12 12:58 PM
Nifty took support after falling heavily but recovered and now trading near its resistance. It has tasted this resistance many times in the past and if broken then we may see some upside. (as per daily chart nifty is still bullish)
Nifty 18 dec 12 9:23 AM
After taking support from the trend line (as shown in the chart with blue line) nifty today opened gap up but it may remain sideways till RBI credit policy announcement today
Monday, December 17, 2012
Nifty 17 dec 12 11:41 AM
Nifty is trying to take support on trendline as shown in the chart. But still trend looks sideways and RBI credit policy may give some direction tomorrow.
Friday, December 14, 2012
Nifty 14 dec 12 3:21 PM
Nifty broke the channel (refer to previous post) upside and now trading above the resistance which if sustains above 5900 is bullish. But nifty looks sideways until RBI credit policy comes next week.
Nifty 14 dec 12 2:14 PM
Nifty has formed downward trading channel and now taken resistance on topmost trendline of the channel (shown with two blue parallel trendline).
Nifty 14 dec 12 12:01 PM
Nifty has taken support at the bottom of the CUP as shown on the chart. But should face resistance from where it brokedown yeserday.
Thursday, December 13, 2012
Nifty 13 dec 12 2:02 PM
Nifty broke the support downside as shown in chart and corrected heavily and looks bearish.
NIfty 13 dec 12 10:53 AM
Nifty is trading in a narrowing range which is also a sideways movement with support on downside and resistance on upside with trendlines shown.
(You may ignore previous post)
Nifty 13 dec 12 10:12 AM
Nifty is trying to take support on trendline as shown in the chart, If nifty sustains above the trend line and gap it made today in the opening then we may see higher levels. If it does not then downside.
Wednesday, December 12, 2012
Nifty 12 dec 12 11:34 AM
Nifty is trading just above its support (which is the edge of the CUP) breaking which some more downside.
Nifty 12 dec 12 9:28 AM
Nifty as per chart is facing resistance as shown in chart. Yesterday it wiped out all gains it made in the morning by the end of the day which is bearish sign and nifty also looks weak as long as it does not break the resistance upside.
Tuesday, December 11, 2012
Nifty 11 dec 12 1:16 PM
Nifty wiped out all gains it made today and now trading below its opening price. Traders might have preferred to sell on higher level as nifty was moving near its psychological resistance of 6000.
Nifty 11 dec 12 12:01 PM
Nifty after rallying 30 points in morning session corrected few points down and now trying to take support as shown in charts.
Nifty 11 dec 12 9:07 AM
Nifty has formed a WEDGE as I have mentioned in my previous posts. It also holding the edge of the CUP which is acting as a support. There seems to be a breakout from this WEDGE at the end of the day yesterday which confirms that market is bullish and ready to touch new high but breaking support downside will be negative too, but nifty looks bullish from the charts.
Monday, December 10, 2012
Nifty 10 dec 12 10:55 AM
Nifty took support as I said in my previous post but facing resistance on trendline as shown in the chart making WEDGE like formation from which it may breakout or breakdown to give direction.
Nifty 10 dec 12 9:33 AM
Nifty on 30 mins chart has formed a CUP. on the edge of which nifty is trading currently. Nifty should hold this support and as long as it hold it it should be considered bullish. It may take its own time to decide the trend as it is already overbought.
Thursday, December 6, 2012
Nifty 6 dec 12 3:05 PM
Nifty took support on lower trendline of the channel and then there was a huge rally. This rally broke the upper trendline and now nifty is trading at its 52 week high. Till now nifty is bullish but overbought.
Tuesday, December 4, 2012
Nifty 4 dec 12 2:40 PM
Nifty is trading in HORIZONTAL TRADING CHANNEL in 30 mins chart which indicates that after huge rally nifty is now directionless and needs to break the channel in order to find the direction.
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