VIEW FOR 24-08-2009

Supports: 45117-4505. This the main place to be watched for the day to maintain the bullishness. Below that nifty can fall down to 4495-4476/65 zone and decide the further move for the day.

Resistances: Nifty closed bullish and crossing 4561 will be more bullish for day where nifty nifty can target next

4585-4645/65-4695.

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GANPATI BAPPA MORIYA

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VIEW FOR 21-08-2009

4503 proved itself a valid breakout level for the coming days as well as 4440 on the downside. A perfect sideways session in a correcting phase (shown on yesterday's chart) it was last day. Nifty was perfectly stuck in between 4489-4455 (exactly as our discussed levels on yesterday's post). Gave sudden up move, again exactly up to 4504 (resistance given 4503) and fell sharply, making it a valid buy above zone in coming sessions.



Supports: If we open below 4465, days support will be at 4402 below 4440 and 4381 level. Trend line support is at 4290. Below 4380, 4330-4259/62-4210 possible.
Resistances: Open above 4465 can bring 4481 to play immediately. Above 4481, 4504 is possible again, above which nifty may continue to be bullish for the day up to 4539-4580/85 zone.

So if it opens above 4465, 4455-4481 should be a no trade zone.

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VIEW FOR 20-08-2009

Supports: considering a little more higher time frame from the above charts Nifty no doubt in a corrective mode, but as it shows signs of impulse nature, it can offer some more upside on intra day basis if 4383/80 level holds. Below that 4364-4340/30 can show up again, make it poised once again for 4262/59-4209 zone.
Resistances: 4415 hold the key, sustaining above that and breaking 4425 can show up 4450/55-4489-4500/03*** for the day.

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VIEW FOR 19-08-2009

Supports: 4442/40 holds the key for the day. Below that 4400/02 will be on the cards. Breaking that level can initiate larger downside up to 4262/59-4210, with a mild supports at 4360-4330/23.
Resistances: 13 Ema @ 4503 and corrective projection at 4507, so it can resist for the day. Above that 4560-4575/80 may come and decide the further move possible in Nifty.

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VIEW FOR 18-08-2009

Nifty started the day with a gap down below 4535, ans so started the severe sell off. It just could not find any support for shortest period and kept sliding hence initiating a bigger/impulse down move. Nifty closed weak of course and looks like a short in any up move for the coming session too.




Supports: 4320/23 seems like a intermediate support zone, but after today move, it's better to look for resistances from intra trading perspective. Below it 4262-45 & 4210/09 will play a crucial role.
Resistances:4440-4480/85-4501/10 are places to initiate shorts on a bounce.

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VIEW FOR 17-08-2009

Volatility touched it's peak on last Friday and kept moving between two potential level discussed earlier (4625-4655). 4625 remains the the main hurdle for coming sessions for the further bullishness, where on the downside nifty can target 4530 on the lower side before deciding some further moves.



Supports: Clearly 4530/33 is the pivotal place, below that it can get more weak for intra day target 4491/80-4415-4387.
Resistances: 4625 remains the main hurdle on the upside, crossing it nifty can target 4655-4685-4725 again, but be cautious as long 4625 is not getting crossed.

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VIEW FOR 14-08-2009

As per the yesterday post 4515 was the breakout level, and we did a gap up and found support at 4516 and as per the overhead resistance we touched 4623 (given 4625) :D. Now Nifty turning bullish surely for higher moves but can face stiff resistances towards 4625-4647/55 zone.



Supports: 4582/75 is big time crucial, below that some intra weakness can be seen where further supports lying at 4555-4525/15zone (13EMA).
Resistances: 4625-4645/55 can be a big hurdle for intra. But crossing that Nifty can touch 4707-4735-4777.

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VIEW FOR 13-08-2009

Hourly 100 and 89 Emas are also converging at same place around 4514/17. So sustaining that level can make Nifty move higher towards 4551-4589-4625. Above 4625 the main trend will again be decided.
Resistances: As discussed 4503-4514 is crucial, crossing that nifty can make it pivotal for the day, to move further. Above that 4557-4589 looks possible enough. 4625 can decide the next immediate move on the card.
Supports: 4429-4399 is big time crucial place for nifty. Below that nifty will again target 4341-4325 zone and breaking further, it can come down to 4265 and finally 4210.

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VIEW FOR 12-08-2009

Supports: Clearly 4425 holds the key for the day; breaking that nifty can test 4380 and 4341-4323 sliding further. Below that 4266-4240/23 is possible. Resistances: 4515/19 is very crucial, 78.6 rt of ABC pattern, neckline on a 5 min chart, 13 EMA on EoD converges there. That's huge place for bears to cross. Above that nifty can gain some good momentum up to 4550/55-4619.

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