Nifty has opened above the channel and after correcting a little below it now trading above it indicating more upside from here, but gap between 5476 and 5224 (on 27th Aug) may act as a resistance upside.
Friday, August 30, 2013
Nifty 30 Aug 2013 10:06 AM
Nifty has opened above the channel and after correcting a little below it now trading above it indicating more upside from here, but gap between 5476 and 5224 (on 27th Aug) may act as a resistance upside.
Nifty 30 Aug 2013 8:45 AM
Nifty in a downward trading channel and closed yesterday near the upper trend line of it.
Wednesday, August 28, 2013
Nifty 28 Aug 2013 9:58 AM
Nifty opened gap down today with weak global cues and falling rupee against Us dollar. I spotted a falling wedge yesterday but today's gap down opening has made it useless. Nifty is also below its previous low near 5280 which indicates more down side from current level.
Tuesday, August 27, 2013
Nifty 27 Aug 2013 3:30 PM
Nifty has formed a falling wedge pattern in the down trend today which is a bullish sign only if nifty holds today's low and support it took on 22nd Aug 2013 (as seen in the chart) and breaks the upper trend line of the WEDGE.
Friday, August 23, 2013
Nifty 23 Aug 2013 11:13 AM
Nifty is facing resistance near 5440 from where it broke down on 21 Aug 13 after some consolidation, which led to a blood bath.
Thursday, August 22, 2013
Nifty 22 Aug 2013 12:48 PM
Nifty after sustaining above the low of yesterday and today finally managed to cover losses and now traading in the green territory. Nifty after some consolidation may go up more.
Nifty 22 Aug 2013 11:50 AM
Nifty is still holding yesterday and today's low which is some hope for bulls and breaking which there may be a down fall (Rupee has just reached new all time low at 65.44).
Wednesday, August 21, 2013
Nifty 21 Aug 2013 10:02 AM
Nifty opened gap up near 5500 level which is a strong resistance level upside. Nifty had found support twice at the same level in the past (On 15th Apr 13 and 8th Aug 13) and now support has become resistance as shown in the chart.
Tuesday, August 20, 2013
Nifty 20 Aug 2013 11:23 AM
Nifty showing strength above our trend decider level of 5350, It may further face resistance at 5425 (pivot point level) and 5350 below will act as a support.
Nifty 20 Aug 2013 10:01 AM
Nifty has taken support at the upper trend line of the channel and now facing resistance near 5350 which may decide the trend today.
Nifty 20 Aug 2013 9:20 AM
Weakness in the Rupee against US dollar dragging the nifty down further. Nifty opened gap down below Support1 (at 5350) of the Pivot point (at 5425). Nifty if fails to come out of the channel then may go down further.
Monday, August 19, 2013
Nifty 19 Aug 2013 3:05 PM
Nifty has formed a downward trading channel in the fall as shown in the chart. Nifty after continuing in the channel now trading out of it which indicates nifty is ready for the bounce back from the lower levels.
Friday, August 16, 2013
Nfty 16 Aug 2013 9:58 AM
Nifty broke down from the rising wedge and though it found support due to gap up opening on 14th Aug, it opened gap down today below the gap up it made on 14th Aug and slipped more than 100 points down.
5750 once gain confirmed to be an important level.
(Note - RISING WEDGE is a bearish pattern but due to bullish rally nifty though broke down from it managed to cover the losses and closed the day near 5750 on 14th Aug.)
Wednesday, August 14, 2013
Nifty 14 Aug 2013 12:16 PM
Nifty has made a RISING WEDGE FORMATION and broke down from it which indicates some more downside from here.
Tuesday, August 13, 2013
Nifty 13 Aug 2013 11:29 AM
Nifty is near resistance as shown with two red line. This resistance has been created due to gap down opening on 6th August 13. However nifty has broken yesterday's high which is positive sign.
Monday, August 12, 2013
Nifty 12 Aug 2013 11:28 AM
Nifty trading above the channel it was following in the down trend and the resistance which it was facing became support (Shown with the yellow line) both are positive for it.
Thursday, August 8, 2013
Nifty 8 Aug 2013 1:00 PM
Nifty after some upside now near upper trend line of the channel. Decisive break out from this channel may give nifty more strength.
Nifty 8 Aug 2013 9:44 AM
Nifty after a failed attempt to enter and sustain above the channel yesterday finally entered today and if it sustains there we may see some upside.
Wednesday, August 7, 2013
Nifty 7 Aug 2013 10:56 AM
Nifty opened gap down yesterday in the channel which it is making since the start of this down trend (please refer to previous posts). Nifty broke the channel after trading in it for some time in the second half of the yesterday's trading session. This break down form the channel is telling us that nifty may correct further (Weekly charts also point towards more bearishness) but nifty after correcting more than 500 points in last two weeks is looking oversold hence unexpected bounce back may surprise us anytime soon.
Nifty 7 Aug 2013 8:52 AM
Nifty broke the trend line which was acting as a support since last one year and helping nifty make higher bottoms making up trend. However, It is not yet confirmed that this up trend has been broken and down trend has started, unless and until nifty gives weekly close below the trend line and sustains there making lower tops and lower bottoms.
Nifty had given strong bounce back when it took support on this trend line and managed to give weekly close above 5750 twice but this time it broke the trend line and fell sharply yesterday.
( Last week's close below our trend decider level of 5750 in addition to this week's close below trend line shown in the chart may confirm this down trend. Movement of rupee against dollar will decide future movement of nifty. )
Tuesday, August 6, 2013
Monday, August 5, 2013
Nifty 5 Aug 2013 1:42 PM
Nifty is still trading above the channel as shown in the chart.
(Bulls should be cautious below our trend decider level of 5750.)
Nifty 5 Aug 2013 10:50 AM
Nifty has broken out of the channel which is bullish sign unless and until it holds above the channel.
Nifty 5 Aug 2013 8:50 AM
Nifty is still trading in the channel. On 1st Aug 2013 it managed to open gap up above the channel but it slipped in it, also on 2nd August (friday) it tried holding upper trend line of the channel but failed and market slipped below 5700 and closed. As seen in the chart nifty is still holding the lower trend line of the channel and which is some hope for the traders who expect bounce back for current levels.
Friday, August 2, 2013
Thursday, August 1, 2013
Nifty 1 Aug 2013 9:22 AM
Nifty has opened gap up above the channel it was trading in for last 5-6 days and above 5750 (trend decider as per charts). Both of these positive signs for bulls unless and until both levels are held.
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