NIFTY INTRA DAY VIEW FOR 01-06-2010

Supports: Immediate support lies @ 5272  & 5260, sustaining below that, can target further downside towards 5250-5225, 5220 can emerge as a potential buying zone, in case immediate support breaks.

Resistances: 5295 is clearly the immediate one. Above that most awaited 5333/40 zone will emerge. Which can very well be potential profit booking and shorting zone with strict s/l above 5355.

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NIFTY INTRA DAY VIEW FOR 01-05-2010

It's a clear bull show again where tiniest amount dips were utilized as buying opportunity. We managed to break 5230 and traded quite convincingly above that. And finally closed  just @ 5240. No downside level is broken, so no impending as of now, and still a buy on dips situation.

 

Supports: As shown on the chart 5230-20 is an important zone for support. Below that, as discussed on yesterday, 5205-5175 possible.

Resistances: As we are above 5230, positionally targets are 5295-5340/45. But from intra day perspective 5250 is important, above that 5285/95 is easily possible with higher targets of 5330-5340/45(main) in hand too.

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NIFTY INTRA DAY VIEW FOR 01-04-2010

From a bit longer term perspective Nifty still looks bullish from any angle, but very shorter term looks little stretched.

Supports: 5190 is immediate, below that 5170 is possible for the day. A convincing break below 5165 can bring 5140-5120 for he day. Short only advisable below 5165 zone.

Resistances: 5230 is indeed crucial above that 5295-5340-5440 is possible from positional perspective. Going long in handsome dips or aboce 5240 would be wiser than jumping in.

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A Wish......

Make a Smilebox greeting

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NIFTY INTRADAY VIEW FOR 12-31-2009

We sold off from a bearish ABC pattern and right now moving sideways. Yesterday's given range are yet to be broken out. Nifty is witnessing intra basis correction due to it's inability to cross 5230.

Supports: 5165 zone is important. Sustaining below that nifty can show 5150-5125 for the day before some sort of recovery. 5085/80 is most crucial as of now for trend reversal.

Resistances: Above 5185 it can show some strength to go towards 5205-5220/30 again. Above 5240, 5295-5335/45 is possible easily.

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NIFTY INTRADAY VIEW FOR 12-30-2009

First sorry for the discontinuation. Went out for a trip and supposed to get back early morning, well before market starts. But a lengthy arrival delay of the train messed it up.

Now as market just bounced exactly from 4940 as discussed number of times before it did really happen (low made 4938), showed some real bull  power to take out menacing 5180. And as discussed on previous post, 5230 was the immediate target after breaking 5180 on the upside, made a high of 5124 on last session. Now indeed 5230-35 is a tricky place, but the BO above 5180 will make all these fall an intra dip as of now.

 

Going back again to my 20th july post..... 5220 and aggressive target 5540 was discussed.

Supports: Uptrend is live and kinking and every previous top and bottom is acting as demand zone. For coming session 5170/73 will be crucial from intra day perspective. Below that 5145 will be the place to get into the buy side. But below that 5115 can come in no time and further break down can confirm short term reversal.

Resistances: As discussed, 5230 remains the same. Though sustaining above 5215 can bring momentum to break that level, but will be comfortable taking long above 5235 zone. Above that 5295-5335/40 are very likely the next targets on the upside.

It can pause a bit before a speedy move. Shorting on the upside and covering it in a dip while going long can be a ideal strategy.

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Christmas time.... Mistletoe and wine!!

                             Wish you all a Marry Christmas! :)

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NIFTY INTRADAY VIEW FOR 12-24-2009

4940 was like rock. Bears were blown away by the force displayed by the bulls. It was like there was no barrier. I personally shorted around 5050 as discussed, for intra gains, while the importance of 4940 was discussed numerous times from positional perspective. These are the times when we overlook underlying longer term sentiments and outcome for quick gain. In all aspect of life :)... here is how nifty right now.

Supports: Immediate support @ 5145/30. Below that 5085-5060 will be place to initiate longs.

Resistances: It is clearly showing indication to move higher. Once 5185 is crossed, immediate target will be 5230-5300-5335/50-5440.

And this way I am completing my 200th posts. I am yet to believe the fact. A mere intention of blogging has become a nature and indispensable part of my life. What more can I ask for? Thank you my fellow readers, my friends, my well wishers. Thank you for everything.

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NIFTY INTRADAY VIEW FOR 12-23-2009

Finally we witnessed some bounce from 4940, well discussed support level. But the way intra day range is getting squeezed, the current state of market is strictly for advanced  and experienced traders.

Supports: 4965 is immediate where longs can be built on some weakness but strictly for intra trades with s/l below 4940. A sustained break below 4940 can certainly bring 4910-4890-4850-4820. As we are in the mid of down trend on shorter time frame, violation of 4820 can make it severely weak for positional/medium term.

Resistances: 5008. Above that 5025 is another big hurdle to cross. Nifty may not fallen so much but certainly created some tough overhead resistances while coming down. Above 5025, 5045-5065 will be on the cards, which are shorting zone as well.

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NIFTY INTRADAY VIEW FOR 12-22-2009

Nifty just showed no strength for the day and eventually did hit our support level @ 4960-4940(4938 low) and ended the day at day's low. Technically it's weak but from a trader perspective it's getting tougher to trade intra day as range is getting narrower with smaller bounce or dips as contra trend to initiate trade.

Supports: Bears are comfortably moving price downwards. Though 4940 is still holding but simply on the wire. I did recommend intra longs around our support zone and it's still on as 4940 is not taken out yet. Though below that fall may gain more speed with target 4915-4895 in hand. Further breakdown can bring 4850-4815/20.

Resistances: 4980 is immediate. Above that 5005/20 is fair possibility. But I doubt if bears will let the shorting chance go. So these are places where intra longs (if built yesterday around 4940) should be booked. Above 5020, one can play for 5055/60, which will be a positional shorting zone also with a very minimum risk-reward ratio.

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