NIFTY INTRADAY VIEW FOR 05-28-2010

It's amazing how one right observation can provide right levels even in Intraday and can keep doing that. Yesterday posted range of 236 worked for last pullback and this time also looks like to be achieved. More than that, even the smaller Fibonacci ratio applied on 236 also worked almost perfectly in intraday. From the quantitative perspective .786 of 236 from 4786 was @ 4971, which was exactly the intraday high in morning for almost 2 long hours before breaking it up and reaching 5004. .5 of 236 was @ 4904, where nifty posted @ low of 4900 for the day. So we can not ignore this was of analyzing, and will try to dig more about this fascinating observation from now on. Entire projection of 236 points from placed @ 5022, which was shown on yesterday's chart.

Now some further calculation, if and when 5022/25 is taken out as per quantitative analysis.

236* 1.27=300

4786+300=5086; &

236*1.618=381

4786+381=5167......... Now check out chart given below and the chart posted on 24th of may.

Now check chart posted on 24th..

Bottom of 1st (as per my count).. Fibo RT.. 1.618 of 236 is all converging @ 5165 zone. Above 5025 it may well be the target along with 5060 and 5086/90. Day's initial support lies @ 4970, Below that it can find support near 4940/30 to move up again. This uptrend is intact upto 4872-4840/35. Short term is up. Manage trade according to that.

Read More

NIFTY INTRADAY VIEW FOR 05-27-2010

Update:2:28 pm:  
236*.786=185
4786+185=4971.. days high as of now.

236*.618=145
4786+145=4931.. yday high 4925.
236*.5=118
4786+118=4904.. todays  low 4900
236*382=90
4786+90=4876
236*.236=55
4786+55=4841

4876 & 4841 is the last two supports for nifty for this upmove.

******************************************************************

Supports: 4875-4840. Below that 4780 can be challenged again and continuation of a larger downtrend can target 4600-4550-4400.

Resistances: 4927 and 4957/65 as shown on the chart. Above that 5020/25 possible and a key level to this upmove. Further breakout can very well bring 5110-5160/65 as discussed earlier.

Go deep into the previous post, it will be fun !!

Read More

ADD IT ON..........

Yes, this is indeed possible as long 4780 holds!!

Read More

NIFTY INTRADAY VIEW FOR 05-26-2010

Read More

NIFTY INTRA CALL PERFORMANCE : APRIL 2010

Read More

NIFTY INTRADAY VIEW FOR 05-25-2010

Nifty turned down almost from the give intraday resistance 535 (high made 5022) after successfully retesting the 4970 zone and moving up 50 odd points. 4970/75 is playing pivotal and it will continue to do so in coming sessions.

Supports: Larger trend is down beyond any question and higher levels are getting sold off. For the day it's having a support near 4890. Breaking below that it will target 4840 again. Violation of that it will face bigger support 4775-4740.

Resistances: 4970/75 is key. Above that 4995-5030-5060/65 are possible.

Read More

NIFTY INTRADAY VIEW FOR 05-24-2010

As discussed, the fall has halted @ 4860. A correction can bring higher levels in nifty.

Supports: 4910-4890 is very crucial for the day to maintain the upward momentum. Below that 4860-4840 can again be targeted and challenged. Below which 4775-4750 is very much possible.

Resistances: Above 4945, some more bullishness can be visible in nifty which can bring 4980/85 and 5000/05 respectively. Above that 5035 and 5065 is possible with positional resistance @ 5110-5160/65 in hand.

Read More

NIFTY INTRADAY VIEW FOR 05-21-2010

Given resistance of 4975 (high 4976) was intact in today's trade, with a range bound action between 4900-4975, leaving no room for bulls to be comfortable with their positions. Still downtrend intact.

Supports: Below 4900, 4860-4830 are possible and crucial, will watch out closely to both these levels. Below that 4780-4740 will decide the larger trend.

Resistances: 4956 is immediate hurdle. Above that 4975/85-5020/25 is possible, very likely shorting zone.

Read More

NIFTY INTRADAY VIEW FOR 05-20-2010

Update 11:58 am :

***********************************************************
I wonder how many times we disbelieve our own understanding by some externally exaggerated thoughts and facts. Today's gap down made me cautious about the running profit and insisted me to book out of my shorts. But the more pain emerged while dealing with 5020 level. For the last 2 days was quite confident about 5020, suddenly changed mind and waited for 5040 to re-enter shorts on a bounce back. Probably the trader inside me was looking for a extra cushion of 20 points, which could have given him operating buffer of 20 points. Quite illogical. Nifty turned down from 5019.7. Leaving me with my satisfying feeling of detecting the longer term downtrend. I hope it was a lesson.

Coming into today's movement, listless to say it was a unidirectional move, leaving nothing for bulls. Given level of 4935 is also broken, which could be another signal of the continuation of downtrend. Some short term supports visible near 4900-4865.

Supports: 4900-4865/60 is a short term support for a bounce. Below that another round of steeper fall can take nifty towards 4780-4750.

Resistances: 4965/75 is big hurdle, a decisive break above that can take nifty towards 5020/30 again to decide the further movement.Any intra long should be restricted with strict s/l and intra day trades.

Read More

NIFTY INTRADAY VIEW 05-19-2005

Supports: 5040-20 remains strong intra day support level.  Below that 4975-4935 is the minimum target which can be nifty.

Resistances: Nifty is in downtrend, and this downtrend is under no threat as long it hovers below 5110-5126/38. Only a cross above that will signal a reversal with a possible target of 5165/70-5195.

Read More

NIFTY INTRADAY VIEW FOR 05-18-2010

5080/85 and 4950/65 zone proved to be most crucial again. We did gap up above 5080 last time from 4976, and moved up. Friday it broke down 5080 again and closed below that, signifying a clear weakness on the price chart. And we got a gap down today again and again it took a nice support @ 4960 (discussed number of times). Hope that my readers have gained from the view regardless of my post for Monday. We might have witnessed recovery again, which is quite handsome for intra from 4950 zone, inability to cross 5080/85 even 5125/35 can bring fresh lows.

Supports: 5030/25 is crucial. Below that it can exhibit weakness upto 4995 and violation of that will be a threat to break yesterday's low. As market is showing a clear downtrend, bucking that can be a dangerous ploy. Short the market at right place and book profit, then play intra on opposite bounce can be a ideal strategy.

Resistances: 5085 is certainly big. Above that the upmove can extend upto 5125/35 and witness selling again. So shorting @ these levels can be good ploy.

From today I'll update my intra calls on twitter after market hours 15:30 IST.

Read More

NIFTY INTRADAY VIEW FOR 05-14-2010

Nifty is clearly range bound in between 5220-5145 for the time being, before it finds any direction on the shorter time frame.

Supports: 5145 is crucial. Below that 5115-5085/80  possible and decides the further movements.

Resistances: 5195-5220 remains the hurdle. Above that 5255/60-5295 possible.

Trade the range 5220-5145 as long as a breakout is taking place on either side.

Read More

NIFTY INTRADAY VIEW FOR 05-13-2010

Discussed 5080 acted big again, while nifty bounced big once again from 5088 for the higher levels. A smaller 5 wave upmove is being seen on the chart.

Supports: This upmove is being held by 5080 clearly. So that would be reversal level for this upmove. For the day it may get weak below 5145 zone for 51250-5090 again. Below 5080 current upmove ends.

Resistances: As shown, 5185 is very important, as well 5220 is. Above these 2 levels nifty can certainly hit 5255-5290/95, where bull power will be retested again.

Read More

Saved by the bell

A fire broke out last night in garage place in our apartment, causing serious damage in few of the cars and resulting in huge power failure. Luckily no one is injured. Very sorry for the inability to post yesterday. Will continue from today again. Thank you for your support. I am safe now.

Read More

A FIBONACCI AND TRENDLINE APPROACH TO BANK NIFTY

Sustaining above 9620-25 is good for further up move again. Below that downward biased extended correction possible. Closing above 9670, even 9720 can bring more serious up move.

Read More

NIFTY INTRADAY VIEW FOR 05-11-2010

As shown on the chart yesterday, nifty did justify 5080 in a great manner by a gap up opening recording low @ 5083, giving the early hint of the reversal. Though it gave little or no chance for intra-day traders to enter into long trade unless some positional longs built on last Friday. Currently the downward move certainly under threat but som technical levels are yet to be broken.

Supports: 5165-80 is entry zone long on for very short term traders. Trading below 5160/55, it can target 5125/15 before moving up again.

Resistances: 5210/20 is initial hurdle. Above that 5250 and 5290-5310/20 will be important place to watch out. Traders are requested to show patience in these extreme condition for intra trading.

Read More

NIFTY INTRADAY VIEW FOR 05-10-2009

Read More

RELIANCE VIEW

Read More

NIFTY INTRADAY VIEW FOR 05-07-2010

Nifty bounced from the 5020 level discussed in the blog, making 5026 low for the day. trend is clearly down and currently witnessing the correction on the upside. The current down move is intact up to 5170/75, even 5200-25 is the headroom on the upside as the correction (4th wave). So till now it's range bound in between 5120-5010/20 zone before the move getting extended.

Supports: 5080 and 5065/60 are crucial for the this smaller up move to hold on. Below which today's low can well be revisited and below 5010, 4970-4950 possible where it can try a bigger bounce back.

Resistances: 5118/20 as said is still the main hurdle, above which 5170/75 is crucial and very likely a end zone for the 4th wave. 5200-5225 is the place, violation of which can nullify the down trend.

Read More

NIFTY INTRADAY VIEW FOR 05-06-2010

Supports: 5082-5070 is important. Holding that can bring some breather. Below which yesterday's low can be under threat for the downward target, 5020-4950, which can cause a bigger bounce from the bottom.

Resistances: Above 5135/40, 5165-85 possible, from where it may resume it's downtrend. 5112 will play pivotal in the day's trade.

Read More

NIFTY INTRADAY VIEW FOR 05-05-2010

Nifty downward biased nature got more maturity below 5200 as discussed. Now looks like it can damage bulls sentiment going further. Sell on rise or hold the shorts are more wise thing to do, until some bigger support level is tested now.

Supports: 5110 is clearly big, very important from intra day as well as Eod basis. Below that another round of severe selling can bring 5050/40-5010 and the 4950/60 positionally.

Resistances: Loads of hurdles on the upside. 5160/75 will be a shorting area. Above that 5200-5225 is very important zone too. Positional Higher targets can only be give after some display of strength of given intermediate resistances.

Read More

NIFTY INTRADAY VIEW FOR 05-04-2010

As discussed on last post, nifty bounced from 5200 (low made 5202), marked as immediate support. Now immediate range of 5200-5265 will get played out.

Supports: 5200 remains the same. Below that 5160-5110 -5050 is possible positionally.

Resistances: 5265/70 is crucial from intra perspective. Above that intra sentiment can turn bullish from 5305-5320/25 zone. Above that 5400-5440/60 possible.

Nifty still in sideways to downward bias. Use strict s/l for longs and book near crucial resistances discussed as long 5325 is not being taken out convincingly.

Read More

NIFTY INTRADAY VIEW FOR 05-03-2010

Read More