Google+ September 2009 ~ NIFTY DEMYSTIFIED

Wednesday, September 30, 2009

NIFTY VIEW FOR 30-09-2009

Last session was quite fascinating one can expect, Nifty might not give such big moves but really cooking something big and interesting to plot. Our discussed 4986 is taken out in opening bell and also 5010. But it failed to sustain above 5010, and exactly range bound in between 5010-4982 zone. And I firmly believe this band is going to be the one of the most crucial pivot for Nifty from shorter term perspective.


Support: 4982 is support on the downside. Below that previously discussed 4952/49 can get hit though 4975. Below that 4930/25 is again achievable and 4881/78 is big big zone for Nifty.

Resistances: 5010 remains the main hurdle. Above that 5035 is another important zone to look at. Violation of that can bring 5082-5115.

Bookmark and Share
Read More

Tuesday, September 29, 2009

NIFTY VIEW FOR 29-09-2009

As discussed, 5035 zone proved to be a resistance zone, and we really saw some profit booking around that level, and 4915 zone again proved to be a most important support level. After a correction of smaller amplitude Nifty is nicely poised, to take the decisive extended move in the either direction, 

It's clearly range bound in between  23.6 & 78.6 RT as shown on the figure above.


Supports: As per the shown Triangle on the above pic, 4950 is the crucial point to hold below that 4930 can well be under threat while breaking that this fall can extend upto 4865-4825/35-4778.

Resistances: 4986 will be pivotal zone, above that 5008/10 zone can be taken out for the further targets 5026/35-5083-5112.

Bookmark and Share
Read More

Thursday, September 24, 2009

NIFTY VIEWS FOR 24-09-2009

Nifty made low of 4996 in the first session (support discussed yday was 4996), moved up, but never crossed the 5042 zone and fell convincingly and broke down the 4996 and reached next level of support of 4955 (low made 4951). i remember that I have spoken out about booking longs near these levels and really it's worked out well. Now as nifty has clearly started a correction 4943 again hold the key for Nifty, where lies the last higher pivot and BC=1.618*AB.

The 38.2RT of the entire 4790-5046 up move is lying @ 4949, so 4943 level is important for bulls to maintain the bullishness positionally. Below that 4920/15 is the another big zone for bulls from where Nifty can try for some recovery on intra. A convincing violation of 4910 can easily bring 4868-4839-4790/80 again.

Supports: As discussed 4942 is going to be a very big place. Below that 4920/15 can give some push for intra recovery, but a failure to do that can bring 4868-4839-4790/80.
Resistances: The strongest and main resistance lies @ 5023/25. So the s/l for positional shorts can be above 5025 technically. 4982-4996/98 are other important resistances.

Bookmark and Share
Read More

Wednesday, September 23, 2009

NIFTY VIEW FOR 23-09-2009


Supports: Immediate support Supports lies at 5004-4998 zone. Breaking that nifty can approach 4960/55 zone and decide further moves.
Resistances: Current upward targets are 5042/55, Above that Nifty can extend further towards 5065-5095-5115/20-5147.

Bookmark and Share
Read More

Tuesday, September 22, 2009


Weekly View:

Nifty exhibits almost the same behavior as of our projections made on earlier posts. We have discussed a number of times on the importance of 4915 level in our previous intra posts. On the other hand 5220 was also being predicted and analyzed. Take a look on Nifty from a classical technical perspective.

Last pic was posted on
19th July

So 4913 will be support for immediate move, below that more lower levels can come into play, which will be projected on intra section below. On the upside above 5010/35, Nifty can extend it's further gain up to 5121-5218.

Intra view for 22-09-09: 5010-5035 remain the main hurdle. Above that nifty can easily extend the gain further.

Supports: Immediate support for tomorrow lies @ 4960/55 zone, below that it can get little weaker and prone to break 4942. 4913 zone holds the key below 4942. Violation of which can bring 4880/68-4810-4778.
Resistances: 4996/98 is very immediate hurdle on the upside. Above that 5010-5035/40 can be retested again. I personally feel it's wiser book some longs (intra/positional) around these levels. 

Keep eyes on RELIANCE... it's not looking that great below 2120/27 for bulls. Violation 2085/80 can bring more downside to this stock.
Read More

Friday, September 18, 2009

NIFTY VIEW FOR 18-09-2009

5010 was enough self explanatory level given & discussed for last 15 days, market sold off a bit from that level and could not manage above that. The volume of the fall from intra day perspective was not bad but on the higher side. As of now still hoping for some extension of the correction and then take a fresh view. There is no doubt still in uptrend, but some how experiencing one correction against it, and the main concern is on what degree this is happening, if you can remember 5010 was 5th target for an hourly and 15 minutes impulse. So two different impulse can bring two different price moves. though both will be related.


Supports: 4947/44-4915, these two are most crucial, market can brake it, but as of now, there are some big bulls waiting to buy.  Below that It can get weak and can extend loss further towards 4865-4813-4775/55 zone.

Resistance: Initial resistance lies at 4998. Above that it can again approach 5010-5035 and decide the further move. Trade cautiously. Session can be volatile.

Bookmark and Share
Read More

Thursday, September 17, 2009

NIFTY VIEW FOR 17-09-2009

The significance of 4920 was being felt quite hard to the bears. Nifty just couldn't break it while making newer higher later on the session. Quite a perfect day it was. Now while we look a bit deeper into Nifty, it's not looking that great for bears, needless to say, that's positionally. We discussed about the 5010/20 in last few posts (first time on 31st August :-D) above 4920, and it seems that its coming. Now take a look at something little different.

 And crossing 5035 convincingly, can bring 5100-5170-5220, discusses on 19th of July. 

Supports: 4920/15 is the most important with hands downs. Below that 4880-4860 important for the day, violation of which and show us 4790-4760/55 again.

Resistances: 4995-5010/35 Is the main level to watch out for. Will wish to book some long around those levels and will wait for the proper entry zone. Though sustaining above (volume is important) 5035 convincingly, can show us 5100-5170-5220 as discussed above.

Bookmark and Share
Read More

Wednesday, September 16, 2009


This was the chart posted on September 10th on TISCO update, where I advised to book the position @ 469 and reenter above that day's high made@ 474 (Check the first pic). Day before yesterday it closed above that @ 479, and currently trading @ 519. Again a 40 rs gain after re-entering. One can look forward to book once and renter after my further updates. Almost 90 rs extracted... thank you. :)

Bookmark and Share
Read More

NIFTY VIEW FOR 16-09-2009

I asserted on 25th of august " ...though the main targets will be as big as 4756/69-4825
(it is still very conservative and partial targets)"
& and here we are on the threshold of 4900. On 1st September we discussed about 5020 above 4920. So not much to discuss as we are dead close to 4920.

Supports: Very crucial day it will be as Nifty heading towards a very crucial zone. Unable to cross 4920 convincingly Nifty support will be at 4872-4840 zone, it's very crucial fro intra day, below that nifty can again try to do 4810-4790-4755 and decide the further move.

Resistance: 4915/20 is all big, though it's a conservative target of nifty but it needs some big attention. Above it the bulls will get one more excuse to cheer and it may lead up to 4960/66-5010/20.... another big zone.

Bookmark and Share
Read More

Tuesday, September 15, 2009

VIEW FOR 15-09-2009

Supports: Support again lies at 4890-4755. Below that it can come down to 4720-05 zone.

Resistances: Nifty is continuously taking support @ 4795 zone and crossing 4829 will be bullish for the day,
above that 4850 is a nominal resistance. As shown on the figure nifty can face some resistance around 4867/70 zone but final projection holding 4828 zone will be
4920 again, this level is being projected from so many impulses and getting more important day by day.

Bookmark and Share
Read More

Monday, September 14, 2009

NIFTY VIEW FOR 14-09-2009

There is not much change in the sentiment in the short term trades as market exactly moved in between (4795-4862) last friday, exactly inside the levels discussed. On a whole still 4755 is still holding the main support and on the upside bulls will have recheck around 4915 zone.
Supports: Range bound session in between 4862/70-4815. Below that nifty can again target 4795-4755. Breaking 4755 Nifty can target 4705-4630-4585 again. A close below 4705-4690 will be more bearish.
Resistances: 4862/70 as shown in then above pic. Above that Nifty can face stiff hurdle around 4910/19 zone. Above that Nifty can very well gain further momentum towards 4962/66-4900-5005/10 where nifty will retested again. Volatile day it can be , trade cautiously.
Bookmark and Share
Read More

Friday, September 11, 2009

NIFTY VIEW FOR 11-09-2009

Supports: Nifty still in range between 4888-4920 on the upside 4760 on the downside as discussed on Wednesday post. 4888-4920 can witness some profit booking by the bulls, though the main support lies for nifty @ 4795-4755 as discussed on above chart.

Resistances: Taking 4888-4910/19 as the main resistance, intra day hurdle lies at 4839 and 4862. Above that Nifty can again challenge the highs and move towards 4910/19 zone. where one can book some positional swing longs, and wait for the  further stretch signal.

Can be a range bound session, trade safely.
Bookmark and Share
Read More

Thursday, September 10, 2009


Recommendation on Tisco Fut posted on September 3rd 2009, @ 420, made high 474 today and currently trading around 469, that's a hefty gain of almost 50 rs. The return is well above 10% , which is BIG I guess :D.....Cheers!!!!!!!! 
Traders are requested to book Profit for once as the chart is shown above. Have a gr8 day.

Bookmark and Share
Read More

NIFTY VIEW FOR 10-09-2009

4830 really worked good for intra, made two highs for the day, respectively @ 4825 first and next 4831.
4842/50 as discussed earlier is still crucial for intraday. Above that Nifty can show little more power to move towards 4910/19 zone, which can be a real test for it. 

Supports: Nifty of course in a clear cut uptrend, but price is indicating towards cluster of long term resistances which can be real test for Nifty, So a prudent strategy would be buy on dips by showing enough respect to the uptrend, but booking intra day gains or booking near each resistance levels. Best support for longs stays around 4767 and then 4728 zone. Below 4728/20 zone market can extend its loss for few sessions to come.

Resistances: In stead of the uptrend, Nifty is experiencing a band of resistance zone lying near 4830-4850. It remains hurdle for the day. and crossing that nifty can head near discussed level of 4910/19.

Bookmark and Share
Read More

Wednesday, September 9, 2009


Supports: Nifty clearly maintaining it's upward momentum with mild correction on intra day basis. Supports are at 4765/60-4728/25, below 4785. Supports are to initiate/reenter longs as of now.
Resistances: Expecting a little range bound before another directional move, and day's resistances are at 4830 and 4842/50 as discussed. Above that nifty can target 4888-4910/19-5010-5220.

Bookmark and Share
Read More