Nifty's this uptrend seems to be halting. Waiting for the confirmation as it may be too early to say this.
Thursday, March 31, 2016
Nifty 31 March 2016
Nifty's this uptrend seems to be halting. Waiting for the confirmation as it may be too early to say this.
Friday, March 18, 2016
Nifty 18 March 2016
Yesterday Nifty fell sharply but held on to GREEN line. Nifty has just broken out of previous high (shown with WHITE line) after gyrating around around ORANGE line which indicates more upside. (Now nifty should not fall back down below WHITE line which may trigger down trend)
Thursday, March 17, 2016
Nifty 17 March 2016
Nifty suddenly changed its trend yesterday and managed to close above GREEN line which indicated more upside. Now Nifty is struggling to break out of previous high (shown with WHITE line which may act as a resistance).
Monday, March 14, 2016
Nifty 14 March 2016
After opening gap up and giving spike, Nifty is gradually going down which indicates more downside to come. ORANGE line is to watch on upside and on downside GREEN line. Any attempt of Nifty to break down from GREEN line confirms downtrend.
Friday, March 11, 2016
Nifty 11 March 2016
Nifty is still in sideways trend and bias is towards upside as Nifty is not sustaining below GREEN line and quickly moves up every time it goes below it. We should wait for trend to set in next week.
Thursday, March 10, 2016
Nifty 10 March 2016
Nifty is not sustaining above GREEN line though it closed above it yesterday. It may have more downside from current level if it continue to trade below GREEN line.
Wednesday, March 9, 2016
Nifty 9 March 2016
Nifty has been trading sideways since last two trading sessions. Today it moved in uptrend and filled the gap it made because of the gap down opening but remained range bound. Nifty needs decisive breakout on either sides for further direction.
From the chart it is clear that GREEN line is the most important level to watch.
Friday, March 4, 2016
Nifty 4 March 2016
Nifty is facing resistance near GREEN line (level where from where nifty began its downtrend on 8th Feb to make new low on 12th Feb). Nifty is currently trading sideways and breakout on one of either sides may give it a direction.
Wednesday, March 2, 2016
Nifty 2 March 2016
A gap up opening above resistance of 7241 (shown with down arrow) indicates more upside in coming sessions though Nifty may correct from current levels now.
Tuesday, March 1, 2016
Nifty 1 March 2016
Nifty has a resistance near 7241. Nifty had fallen from this level on 23rd Feb (shown with down arrow) Yesterday Nifty had huge up and down movements as seen in chart because of union budget but today it opened gap up and rallied.
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