Today I am not going to post any chart as all the levels on either sides are still in tact and that too quite for sometime now. Nifty still could not manage to go above 4885/90 and menacingly not also has broken down the 4835/30 zone discussed earlier .As big B’day is here, will humbly request to trade less/nothing today. Immediate range of the market is still @ 4885/90-4830 and the broader range can be 4960/75 to 4750-4715/10. Traders able to match these levels in each time frame and co-relate them, only should trade, though it’s my personal opinion.
Supports:...
Friday, February 26, 2010
Thursday, February 25, 2010
Supports: 4840 is immediate. Below that 4808/00-4785. Positional supports lies @ 4750-4715/10.Resistances: 4890 stays as it is. Above that 4910/25 possible. Further breakout will bring 4960-4985, which can be a reversal points for the down move.Trades are advisable to take only after a valid breakout or breakdown from a certain lev...
Wednesday, February 24, 2010
4835 provided support as discussed yesterday. Nifty is absolutely range bound between 4920 and 4800. But some impulsive action from upside down implying some impending weakness in it.Supports: 4860 will be the first support zone. Below that 4840 is another crucial level. Violation of this level can bring 4820-4808/00-4785. Below that 4750-4715/25 are achievable.Resistances: 4895 and 4915, a confirmatory breakout above 4925 will bring 4945-4975/85...
Tuesday, February 23, 2010
Expectations of Budget & expiry in this week resulted into a very nervous to the market. Market reacted from the given levels of 4925 but certainly inconsistent in it's movements. As of now 4919 holds the key to the up side.Supports: 4835 is immediate. Below that 4800-4785 can possible before any further breakdown. Below that 4720/10 is possible before any handsome pullback.Resistances: As said above, 4919 is the key now. Above 4920, it can again...
Monday, February 22, 2010
Supports: 4800 is immediate. But as one downward impulse is in course, targets can be deep below 4795/4790. 4750-4715 will be the immediate target in that case.Resistances: 4885 very important place. Above that 4905-4925 is possible in no time. Further BO can bring 4955-4960/80 before deciding any further mov...
Friday, February 19, 2010
Thursday, February 18, 2010
It touched 4829 (resistance given 4825) before reacting today, and nifty and bank nifty both are nearing bigger resistances. And as budget is in the corner we can expect a bigger move on wither side (technically down from resistances).Supports: The shorter term impulse and longer term corrective is unchanged till 4960-4985 is crossed. Will be wise to book longs and going short with strict s/l. Day's supports are lying @ 4870/75-4840-4805. Below...
Wednesday, February 17, 2010
At last short term impulse which was being discussed on the bog for last couple of days witnessed a good break out. Although it's still in bearish zone and yet to confirm a the reversal of the bigger down move of 5303-4667, it was worth playing long. Now as it has broken past 4875 as well, it can have some more fuel to for upside. Supports: Continuation of the up move is intact. Most crucial supports for this up move are placed @ 4825-4785....
Monday, February 15, 2010
The current range in nifty is decreasing gradually and yet to give the confirmatory movement on either side after witnessing a mild correction on the upside against the downtrend on hourly. Sideways move had resulted into cluster of supports as well as resistances on either side, before any decisive movement on shorter time frame.Supports: 4775 and 4750/52 are immediate, below that some more weakness can show 4705/08 before final breakdown. Below...
Supports: Very short term trend seems uptrending. Supports for going long would be @ 4815-4790/85 zone. Below that 4740-4720 is important positional support zone. Resistances: 4855-4875 as discussed. Above that 4915/20-4960 are very much possib...
Thursday, February 11, 2010
So 4825 worked brilliantly (high made 4823.5) and still holds the good for bears. The corrective up looks to be weakening as long 4825 is breaking on the upside. Though as discussed on yesterday's post that an 5 wave impulse is in course in the smaller time frame on the upside, so that's the last hope for the bulls to make this corrective up a bit more lengthier.Supports: Immediate support is 4745. As told previously, as the very short term chart...
Wednesday, February 10, 2010
Support discussed for the day was 4735 and made a low of 4735, resistance was 4825, high made 4825. Shorter time frame initiated a impulse move from the support zone discussed. Currently that's still on and positionally targeting a higher price.Supports: 4785 is critical and it has closed just there for the day. Below that it can witness some weakness for intraday up to 4760-4725, where lies the most probable last support for this current up move....
Tuesday, February 9, 2010
Yesterday I mentioned about the 4685-4640 before any considerable bounce on Nifty. It might not exactly touched 4640, but came will into the support zone discussed. So as the correction continues on the upside, it'll leave bulls in the two mind, whether the down move is over or another fresh leg of down move is pending. Looking at the magnitude of the down move, the current intra gains look very much like a correction and not a reversal of the current...
Monday, February 8, 2010
Supports: 4734 and 4710 is the zone for intra bulls to protect. Though as long 4790 is not taken out decisively, it'll be riskier to buy on dips from 1-2 days positional perspective. Below that 4685-4640 can be the targets before any considerable bounce.Resistances: 4786/90 is the main hurdle. Any weakness around that zone can be bad news for bulls. Above that the immediate intra day trend can take a small reversal towards discussed level 4825/3...
Friday, February 5, 2010
Market has been sold off again from the critical resistance zone after session of extreme volatility. Though technically it's still holding the 4800 zone, we can say correction is still in course on the upside. But the magnitude of volume with which it has fallen, the corrective uptrend may well be under threat.Supports: 4800 is the key for this corrective up move to hold. Sustaining below that can bring sell off towards 4760-4730 again. 4730...
Thursday, February 4, 2010
I included one interesting Ema chart with it's various vertical shifts in post for 28th January views for Nifty. So today I am just updating and re-posting that chart first to examine the move guided or identified by the Ema. My students will surely able to relate the chart and the procedure of it's formations and applications. The Ema lines have successfully provided support to this uptrend as of now. And right now hovering above the 144 with...
Wednesday, February 3, 2010
Supports: Immediate and probably the main support for the last up move lies at 4795, A confirmed break below that can certainly bring 4760-4730 again, with a target of 4640 & 4400 positionally.Resistances: Main resistance which can bring a potential intermediate reversal is lying @ 4940, above that it can certainly hit 4980/90-5040-5080/90. Intra day hurdles are placed @ 4870-48...
Tuesday, February 2, 2010
4820 was given as the final breakdown level for the last session. 4822 was the place from where buying emerged and nifty continued move up right from there till the end. Though 4935 zone is not crossed, but demand at the support zone (first from 4760, then 4820) is indicating towards a very immediate term uptrend.
Supports: 4885 is critical for the day. Below that 4870-4845 is again possible. Further breakdown can bring 4820-4785. Below 4785 current...
Monday, February 1, 2010
Nifty current low 4822, discussed 4820 as the breakdown level. But 4785 ha to be broken for the cancellation of this corrective up move....
Nifty reversed from the well discussed zone of 4760-4730 by hitting a low of 4757 on the last session. Nifty still in a downtrend, but a correction against a 550 points fall can also lead towards a healthy upmove.Supports: Supports for the day lies @ 4865 & 4845, reversal from 4757 is having pivot on those place. Intra bulls will try to hold that. A confirmed break below 4820 will bring more weakness though and it may head towards 4760-4730...
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