Red trend line is acting as a resistance and today's gap down opening (if gap is not filled) indicates some more down side.
Friday, April 26, 2013
Nifty 26 Apr 2013 9:19 AM
Red trend line is acting as a resistance and today's gap down opening (if gap is not filled) indicates some more down side.
Tuesday, April 23, 2013
Monday, April 22, 2013
Thursday, April 18, 2013
Nifty 18 Apr 2013 8:37 AM
Nifty is near the resistance zone after moving up in a steep rally of more than 100 points. Steep rally indicates some profit booking may come at the higher level.
Tuesday, April 16, 2013
Nifty 16 Apr 2013 9:18 AM
Bad days to Dow ( which was moving in opposite direction to Nifty and corrected heavily yesterday) will bring good days to Nifty. Yesterday US markets corrected on bad news from China and from their own country ( bomb last in Boston) brought Dow down by more than 250 points for the first time since last so many months.
Our major hurdle upside is 5610-5600 resistance zone which nifty needs to cross.
Monday, April 15, 2013
Nifty 15 Apr 2013 3:39 PM
Nifty is testing support near 5500 (from whee it bounced back on 10th Apr 13). Also 5535 is a level where support exists due to gap which was made on 14th Sept 2013. There is a strong resistance which nifty faces when it touches 5600-5610 band which is shown with red line.
Nifty is sideways unless and until it breaks either of these levels.
Thursday, April 11, 2013
Nifty 11 Apr 2013 2:27 PM
Nifty is facing resistance as shown in the chart. If this a beginning of a baby bull market then nifty should break all the resistances as it did yesterday and should find support where it was facing resistance as it was on today.
Note - In bear market we respect the resistances and break the supports and in bull market we respect the supports and break resistances.
Wednesday, April 10, 2013
Nifty 10 Apr 2013 9:39 AM
Nifty is facing resistance near 5535 level which nifty held for last three trading sessions which was finally broken down yesterday and nifty slipped below 5500. Today nifty opened gap up but just below that level (shown with red line) and came down from there indicating we should break the level if it wants to go up.
Nifty 10 Apr 2013 8:42 AM
Nifty may fill the gap we made on 14 Sept 2012 in the opening. It also tested support above this gap on 19 November 2012. Type of this gap is known as BREAK AWAY GAP and this gap is filled often. If nifty goes down below this gap area (5535-5450) then it opens the gate for 5000 level for the nifty. In other words nifty must hold this gap and we should bounce back from here if we are in long term bull market which may break 6300 level (all time high) in the future.
Nifty 10 Apr 2013 8:39 AM
Nifty after opening gap up rallied and touched 5600 but it faced resistance there and broke all the supports downside. (In bear market resistances are more important than supports). Nifty is weak but may rally upwards suddenly as there is too much pessimism about nifty and it is also oversold.
Tuesday, April 9, 2013
Nifty 9 Apr 2013 9:34 AM
Nifty has opened above the horizontal trading channel and near the high of yesterday. If sustains above the channel for some time then we may see an upward rally.
Monday, April 8, 2013
Nifty 8 Apr 2013 1:44 PM
Nifty is sideways froming horizontal trading channel since friday with triple bottom formation downside.
Breaking he channel on either sides may give it a direction.
Breakout from the triangle (on Friday) shows probability of upside is more than downside.
Nifty 8 Apr 2013 9:29 AM
Nifty has broken out of the falling triangle which may lead to small upward rally if the double bottom which was formed at the base of it on friday is held.
Friday, April 5, 2013
Nifty 5 Apr 2013 12:18 PM
Nifty has formed a falling triangle in the current downtrend and may break out or break down from there soon.
Note - Falling triangle is a bulllish pattern only if break out happens from it.
Nifty 5 Apr 2013 8:39 AM
Nifty broke down the channel yesterday and now looks weak. Nifty has also shed more than 150 points in last two trading sessions and now looks oversold and may bounce back in green territory today but unless and until it breaks out of the lower most trend line of the channel and sustains there it is bearish.
Thursday, April 4, 2013
Nifty 4 Apr 2013 10:07 AM
Nifty is now trading sideways after correcting from the triangle yesterday. This sideways movement has formed a HORIZONTAL TRADING CHANNEL breaking on either sides may give nifty a direction.
Wednesday, April 3, 2013
Nifty 3 Apr 2013 10:38 AM
Nifty is weak today due to break down from the rising triangle and it may further weaken.
Monday, April 1, 2013
Nifty 1 Apr 2013 9:22 AM
Nifty after bouncing from 200 DMA at 5627 is now in uptrend and this trend is likely to continue in coming sessions. Nifty is facing some resistance as shown in the chart and every dip in the nifty should be used as a buying opportunity.
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