Google+ November 2009 ~ NIFTY DEMYSTIFIED

Monday, November 30, 2009


Nifty is in corrective mode on daily basis but started an up move from the later phase of last day 's trading session. So the coming session may well be choppy but trade-able enough. 

Supports: 4935/18-4895 is big time crucial to maintain this immediate up move live. A convincing break below that can really turn the table in favor of bears again. 4840 can be another support below those levels which is likely to be broken for further targets 4715-4620.
Resistances: As we are talking about very short term uptrend (minute time frame), larger time frame is still under selling pressure and 4970-4995/5000 is immediate and quite important place, where some profit booking/shorts can be done. But if 4895 comes first and approaches 5000, it's likely to be broken for the final tgt 5040-5055/70 zone where this up move will be tested again, and can be the last shorting zone.

Bookmark and Share
Read More

Sunday, November 29, 2009


Those who have missed the previous post check it out. Here is a chart which can very well be a eye charmer for a chartist, but don't know how it's gonna perform. Every price moves has been so perfect that it's worth posting.

Chambal Fertilizer:


Hope above posted charts have some logic and can meet some of your queries on these scrips :) .. have a nice sunday eve!!

Bookmark and Share
Read More


Number of very good friends of mine have requested me for some posts on stock also. I could not get time as I usually be enough confused with Nifty only :). Here are some efforts towards the Indian stocks rather than Nifty and a warm hello to my fellow readers. Take a look. To start off with ... obviously Reliance Industries.

Reliance Ind: In a bearishly choppy mode. Check the chart out, you will get to know yourself.


Suzlon can be on the verge of breakout above 79-80 level for 90-110-125 for medium term. If 80 not crossed with good volume, traders can short with said BO level in medium term and accumulate towards 50-40 zone as a long term value pick.

Bookmark and Share
Read More

Friday, November 27, 2009


We began the day with low of 5080 (support was @ 5085) and bounced very little. Broke down 5085 and straight down @ 5065 (support discussed 5065/60), but some longs might have built at that support, but s/l was so small for longs. Below 5065 it was one way movement on the 2nd half of the day. And from immediate perspective, say for next 1-3 session, mantra can be short on rise.

Supports: 4970-4950 can a be zone for intra bounce, And very very crucial from closing perspective. A close below 4970 will not augur well. So If some body is playing for a intra day bounce s/l can be below 4950 zone initially. Below 4955/52 zone 4915-4895.90 can come in a whisker.
Resistances: 5025-5040/45. 5040/45 zone is really big. Nifty has made two tough resistances in these last few sessions which are 5060/65-5095, above 5044 zone, those levels are achievable, but those will be opportunity for shorts unless some wonder happens.

Read More

Thursday, November 26, 2009


Supports: Very immediate support would be 5095/85 as shown on the above chart, holding this nifty can again move up. Violation of 5085 can lead it towards 5065/60 from closing and bar chart. 5065 is the hourly closing level with out harming the uptrend. Below 5060, short term weakness can set in which can take it towards 5045-5020 and further lower levels.
Resistances: As long 5060 holds, higher price is expected and 5146-5170 is clearly big zone on the upside. Intra longs can be booked and some shorts can be initiated with very strict stop loss. A decisive move above 5170 will negate all the top out possibilities and can easily bring 5225 and other levels discussed on earlier posts. Will be posted as picture unfolds.

Bookmark and Share
Read More

Wednesday, November 25, 2009


Supports: 5042 is the initial/immediate. Holding onto that Nifty can manage it up move again, but further weakness can bring it down towards 5000/06 zone. In between 5025 can play pivotal for these two levels.
Resistances: 5094-5105/12 big hurdle to cross on the upside. Second resistance can be used as a stop loss for any short trade. Above that 5122 will be challenged again for further target of 5140-5170 as discussed.

Bookmark and Share
Read More

Tuesday, November 24, 2009


As per the last post Nifty almost achieved both the target of 5108-5122 (high made 5120), and really not looking weak as of now. We discussed about the 5060 zone and we did not manage close above that (that resistances worked as closing level, and quite unknowingly too) and ended dead flat for 3 consecutive days from 16-18 Nov @ 5056. Got a dip and closed the week @ 5068 (above 5060), and now new highs are again coming our way. And as discussed on 12th Nov post, above 5060/65 all downside movement will be bought for higher levels. And for what target?? Check this out.
Supports: As shown on the chart 5090 and 5083 holds the key for the day. An aggressive profit booking can show upto 5060 or which can be your s/l for longs on dips. below that 5060 intra weakness may bring 5035/25-5000 zone to decide further movements.
Resistances: 5122 is still there. A convincing break above that can very well show up 5147-5170. Above that more strength should set in bring it towards 5195-5220 and positionally 5289-5320-5410-5530... phewww!

Bookmark and Share
Read More

Monday, November 23, 2009


On friday nifty witnessed some storong buying/short covering near one of our target below 4965 (4935-4885 was target, it reversed from 4937). But honestly, I really expected 4885 zone before the resumption of the uptrend as discussed earlier. Somehow the down move got truncated and has brought us again towards the same scenario. 5084 is the key for the upside, in my opinion.
Supports: 5045/40 is the immediate support in early session, below that 5025-5006/03 is very much impotant and quite probable buying zone for intra with a very strict s/l. Though I personally feel comforable with a buy above 5084. A srtrong break below 5000 can lead towards some more weakness towards 4980-4935-4885/80.
Resistances: 5084 remains the same. Above that 5108-5122 is very much possible as discussed above. Further breakout can lead it towards 5170, same as our projection at the time of catching top last time. But this time it can very well break it after a initial hic-ups for further upward targets (positional view).

Bookmark and Share
Read More

Friday, November 20, 2009


Nifty did maintain the exact levels and move according to that as mentioned on the last post. It broke 5035 for the day and reached 5006 (support discussed), bounced but never went above 5035 (went up to 5029). Broke down 5005 zone and a speedy sell off showed 4963 (support discussed 4965) in a hurry and bounced exactly up to previous support broken @ 5004. Closed @ 4984. Now for the day 4990 becomes (23.6rt of the ABC move up to 4963) crucial. Unless nifty crosses above 4990 and sustaining for a while can witness more sell off dip down towards 4930-4905-4890. Theoretically a violation of 4960 should be a hold for positional shorts, bt for the last few movements Nifty moving in a 2.618 ratio in stead of 1.618. So 4905 (closing basis) and 4890 can provide some support and may be the last for the bulls.
Supports: 4965 remains crucial for the day. Below that some major weakness can set in which can take nifty towards 4935-4885/80. 4905 remains very strong support ... but this time with little salt , closing basis. :). I could summarize the move as a positional short if Nifty moves below 4960, but as I said earlier, last few moves are extending 261.8 in correctives also, so that 4880/85 is holding some significance for sure.
Resistances: 4990 as said above. A convincing move above that and preferably 5005 can set a bullish tone for the sometime where Nifty can show some speedy recovery towards 5035-5055 (again converged to our last pivots, 61.8 & 78.6rt of 5082-4963 placed at that zone respectively.

Bookmark and Share
Read More

Thursday, November 19, 2009


As discussed on the yesterday's post about the pivotal 5050-5035, Nifty did hit exactly @ 5035 as the day's low and rebounded upward to hit exactly 5082, which was the resistance discussed yesterday. All levels are holding the same as no break out/down has taken place.

Supports: Nifty is really in a sticky mode. 5035 still holds the pivot for the day, and as shown on the chart,
below that 5035 immediate momentum can be down for the target 50006/02-4980/65 in hand, without harming the uptrend. And later support zone should be considered for partial booking of your intra shorts.
Resistances: 5083/90 still holds the key. A convincing cross above 5095 can show 5120/35-5170 as discussed on yesterday's post. Trade the broader range.

Bookmark and Share
Read More

Wednesday, November 18, 2009


Supports: Day's pivot lies @ 5050-5035, below that nifty again can target 5010 and 4980 as shown on the 1st pic.
Resistances: 5083-86 will act as the overhead breakout zone. Above that 5120/35-5170 possible again. Use any significant move to get into the positions.

Bookmark and Share
Read More

Tuesday, November 17, 2009


Now take a look at this pic posted on 20th july here. Where projected 5th wave was @ 5220 and 5540 aggressive targets. From lesser time frame chart we projected top 5165 which represents macro level 5220 I feel. Now the big Q is can it show the aggressive target on nifty projected. Yes it can. But exact levels will be obtained from smaller time frame chart which can be little different with macro view posted on July. Say 5400-5450!!!

Support: 5050 hold the key as discussed. Shorting above that zone wont be that much of a prudent thing to do as it did yesterday also. Below that some intra weak can set in which can make it move towards 5035-5010-4970.
Resistances: Holding 5050 can very well show up 5095-5130-5162/70 zone . Use immediate dips to buy as long 5050 is holding with s/l below 5030.

Bookmark and Share
Read More

Monday, November 16, 2009


Supports: 4975/70 is immediate support for nifty, below which it can be little weak for 4940 again. A break below 4915 can bring 4860/55, which holds the key for this up move.
Resistances: 5020 is the hurdle for the very first session, and as repeating time and again, 5055/61 will be some how very crucial to test the bulls. Fresh positional bullish trade can be taken after a convincing break out above that for 5095-5105 and 5160/70 zone again.

Bookmark and Share
Read More

Friday, November 13, 2009


Supports: We are still in uptrend from 4531 and 4940-4915/10 hold the key and that's crucial for the day (corrective probably ends there), below that some big weakness can set in to bring nifty down towards 4858/65 zone. further breakdown can bring 4800-4760/70. Which will be again a signal of the trend reversal on downside.

Resistances: (Day's hurdle was given given @ first pic, missed out to give here.) 4970/77-5000 are very crucial levels.As we took the 78.6rt of the total fall @5025, a failure to cross that 5030-5060 can bring weakness. But a cross above hat will be very bullish and very easily can bring 5110-5170.

Bookmark and Share
Read More

Thursday, November 12, 2009


From the above post 1 thing is getting clear that Nifty can nullify all the down moves once it crosses above 5065 this time. Intra day downside noises will be bought after that for higher levels discussed above.
Supports: To reach 5057/64 zone in the early morning session, 4995/5000 is important to hold. Below that 4970-4935 can show up without harming the trend.
Resistances: 5057/64 is really going to be crucial. Once broken it can be early signal for breaking 5165/73 (previous projection from where nifty moved down). Though 5110 will be hurdle in between.

Note: I have shared my July view time and again here to relate with my current post where 5200 was projected around 43XX. Today I am posting the same to feel some good about the post which wanna share with you people. Along with the 52XX projection I projected one pivot in that post for nifty to make that up move sustainable. Will not say anything and will like you people to take a look.. keep in mind..our low in this fall was 4534.. now click here and keep reading :-).

Bookmark and Share
Read More