Google+ July 2009 ~ NIFTY DEMYSTIFIED

Friday, July 31, 2009

VIEW FOR 31-07-2009

After the sudden fall on 29th nifty managed really well to recover yesterday and covered almost all the losses it experienced. As discussed on yesterday's post nifty made a low of 4473 (given 4475) and crossed 4535 as well. As nifty has managed to complete a BC=1.618*AB move at 4535, it's bullish to test at least 4589/92 and decide further moves for the day. But it can really go up and break the 4610 barrier this time to target higher prices. So for the coming session,

Supports: 4535-30 is pivotal and important for nifty to maintain the uptrend in intra too. Below that it can some intra weakness by targeting 4505/4495-4475.
Resistances: As shown on chart it can really become quite bullish after crossing 4589/92 zone, and target 4610/19-4665/77-4706-4731-4765/67 zones.
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Thursday, July 30, 2009

VIEW FOR 30-07-2009

Nifty showing corrective move on the upside from yesterday's low of 4415. As long 4532/35 is not crossed it can be weak and under pressure by the bears. In that case,
Supports: 4478/75 can be pivotal . Below that nifty can target 4442/40 and decide further moves. At 4395/90 lies the crucial support for medium term.
Resistances: 4532/35 is most crucial, above which next target fro nifty will be 4562/67-4586. Above 4586 Nifty can show more strength with a target of 4660 positional.
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Wednesday, July 29, 2009

VIEW FOR 29-07-2009

A trend line look ...

4660 level was discussed earlier. Take a look at more extended target for nifty on a valid breakout above 4610 zone.

A 423.65 extension of first top from 4194 is at 4610 zone. Above that 4707-4766 can be
possible target for nifty, though above 4660/70.

For coming session:
Supports: 4550/45 is important zone below that nifty can be under pressure and 4525-4505-4475/72 can be possible supports/target.
Resistances: 4590-4610 remain the crucial barrier on the upside. A convincing breakout above 4610 can bring 4637-4660/70 and above 4700 positionally.
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Tuesday, July 28, 2009

VIEW FOR 28-07-2009

Supports: Clearly 4555-4545 is the most crucial levels to watch out for. Below that Nifty can be weak and target 4505-4495 breaking yesterday's low @ 4525. Next big support comes @ 4461-4430 levels.
Resistances: 4592/97 is important on the upside. Above that 4627/30-4661-4680 is possible.
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Sunday, July 26, 2009

VIEW FOR 27-07-2009

Last Friday was nothing but a clear choppy session with 4505-4580 in hand. Nifty did not break either side to give clear breakout, but lastly closed very near to our 4580 zone, after making high of 4589 with sustaining it. Now from price movement it seems a clear uptrend, but inability to cross 4580 now can cause little bit downside on nifty and then resumption of trend again may take place.....

EoD trendline placed @ 4430 and 4300 respectively. We can see the factorized charts on smaller time frame posted below.

Not able to cross 4580 and sustain above that can cause some selling where, 4532/40 can play a pivotal role. Below 4532/40 it can target 4430 as shown on the above chart and trendline chart also, and decide the further moves.

Support: 4532/40 is crucial and most likely to play a pivotal role. Below that 4502-4480-4431/29 is possible. 4430 is really a big place to watch out for. below that 4300 is most likely level where Nifty can find supports with a intermediate support at 4380.

Resistances: 4580/85 is key. Above that bulls will get more momentum to go towards 4619/25-4660/65 discussed earlier.
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Friday, July 24, 2009

VIEW FOR 24-07-2009

Nifty not only did manage to cross above 4435 but it crossed above the 4460, the main resistance discussed yesterday, and successfully tested and retested 4460 time and again to move up finally, by making low 4455. It crossed main hurdle like 4505 and closed exactly at our many times discussed level 4535. last time nifty did not sustain 4535 two days back, and today's close is relatively positive after a sell-off scenario on the day before.

So, as per the chart 4580/81 looks like a big zone for nifty, crossing that for the day can be a bullish thing. and moreover crossing 4480/1 zone, can make this level as day's pivot if it has to go up. It can target 4615-4660/70 zone if it does sustain 4480/81 after breaking it.

Main support for the will be @ 4530 zone, below that it can get bit weakish and target 4505-4490 zone. But momentum will be still up as long 4494/90 level is holding. So to sum up,

Supports: 4530, below that 4505-4494/90. momentum up as long 4494/90 is holding.
Resistances: 4580/81, a heavy volume breakout can cause further up move till 4615-4660/70.
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Thursday, July 23, 2009

VIEW FOR 23-07-2009

Supports: As per the 5th wave projection it can target 4362 and 4338. It can get more weak bleow 4330 and can target 4298 and further lower levels.
Resistance:4435 is first resistance for the day, above it can touch 4460-65 which is big resistance area and can e a shorting zone. Below 4485-4505 nifty will remain weak.
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Wednesday, July 22, 2009

Nifty ended a corrective, and paused a little. I am posting few charts after some study, please take a look :).

So for the coming session,
Support: 4454 as of now below that it can be weak and can target 4420-4405.these 2 levels are big. Below that nifty can extend move towards 4370/61.
Resistances: 4492/96 is vital. Above 4500/01 it'll be stronger to move towards 4518, but as previous move is indicating, it may well go beyond that towards 4535-4551-4596-4610. It can be traded well I feel, but wait patiently :).
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Tuesday, July 21, 2009

VIEW FOR 21-07-2009

Not much to say as all levels are same as before.

Supports: 4497 & 4485/80 may provide immediate supports. below that 4445-4390 are possible.
Resistances: 4535 remains the big zone. Above that Nifty can hit 4580, But further movement will decide whether it'll sustain 4530 zone or not.
Trade carefully, take your own time and decide. Either side breakout can give us 150 odd points comfortably. So no hurry... and no more gyan plzz :D
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Monday, July 20, 2009


Click here to download the data.
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VIEW FOR 20-07-2009

This chart was posted on 16Th of July, where the significance of 4350 was discussed. It never fell from 4350 but while going above that level, it came down from 4384 to retest it by touching 4345. Now clearly the momentum is up as it's well above 4330/50 zone and 4510/20 is well in reach. But for intra day,

A corrective as well as impulse count on two different degree chart is indicating towards 4430. So for intraday 4430 may show some resistance (previously posted closing chart was exhibiting 4421 level as resistance).

Supports: There are number of supports lying for nifty for the coming session: 4275 can be crucial place to watch out for, sustaining that Nifty can show our intermediate target 4340. Below 4275/69 Nifty will be weakish of intra day and can target 4245 and 4320.
Resistances: 4430 can be somehow crucial. Above that 4465 and 4517/4529 is a big level as discussed number of times earlier.
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Sunday, July 19, 2009


Eyes wide open..... @ 4550.
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We are witnessing a clear uptrend on shorter term chart in Nifty all the way down from 3906. A closer look at the closing chart is also giving us a fair idea on the action action taking place. Parallel up trending channel is on the way and Ema's are clarifying the shorter term momentum which is clearly up as of now. 2 EMAs, 34 & 89 are holding the momentum up for nifty on the 5 minutes chart as these both are lying @ 4361 and 4321 respectively. So as of now as per the closing sentiment, a couple good close below 4320 (our resistance was @ 4329/40) can bring short term weakness up to 4270 zone (a confluence zone of previous top and lower wall of the channel). On the upside 4421 is the first obstacle, above which it can gather more momentum to proceed towards our previously discussed level 4510-4530 (4512 on above closing chart).
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Friday, July 17, 2009

VIEW FOR 17-07-2009

Intra move was a classic example of perfect wave formation. Extended C reached 4194 and bounced upto 4276 (BC=AB*1.618), which was top of wave 2 also. Now The move is critically poised, A move beyond 4275/80 can bring 4330 as discussed earlier, but wave structure wise it can very well target 4134/25 also.

A failure to break 4275/80, can bring Nifty to the real big level of 4126/34. And decide further move.

A 4122/34 support on the lower side from higher wave corrective, making that place a big time important.

Supports: 4205.. Below that it can be weak and target 4183 and 4134/22 level, which is real big for bulls to hold.
Resistances: 4248 .. above that again 4275/4280 will tested and further move can bring 4329/40 level.
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