VIEW FOR 11-08-2009

As discussed nifty never managed to get above the 13EMA barrier and fell exactly from there, thus making it pivotal zone for coming days. It sold off sharply at the end of the day and tested the last major low by nifty @ 4386. It seems that Nifty is on the move with a impulse while targeting lower levels around 4355/40 initially and 4266-4230 kind of level form a slightly longer perspective.




Supports: 4386-4340 is immediate support for nifty. But further downside (which looks possible, may be after some bounce) can bring 4266-4240/35 zone, which is of course a important zone to watch out for.
Resistances:4475/85 is the pivotal for the day now, A break above that nifty can target 4517-4540 zone again, where 4540 is the previously discussed 13EMA zone.

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VIEW 10-08-2009

Supports: On the downside 4440/50 is the most crucial place to watch for. Below the nifty can face another round of selling up to 4390-4360 zone, which can be a immediate trend decider for nifty.
Resistances: Above 4487 nifty can met, 4507-4531, above which it can well extend up to 4563/68 zone, and decide the further trend. Above 4565.68... nifty can extend up to 4594-4623/27-4363/65 places.

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VIEW FOR 070809

Supports: 4555/35 is real big place as shown in above figures. Breaking that nifty may witness some serious trouble again up to 4475-4448, which is again a important level. From midterm perspective nifty should hold 4275 to maintain the secular uptrend.
Resistances: Market exhibiting prefect movement which can be gauged by technical, nifty
holding the 4535 zone may reach up to 4600-4625. Crossing that bulls can again come back to play and can show us 4662/65 (important zone)-4690-4715 again. Crucial day, play cautiously.

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VIEW FOR 06-08-2009

Nifty did manage 4715 and 4614 zone perfectly and gave almost 100 point trading range either side, but failed to cross 4715 convincingly again. Nifty is maintaining its upward momentum, but getting restricted @ 4715/30 as well.



As nifty is moving into same range there are not much new to post...
Supports:4675/70 is definitely pivotal and main place for bulls, defending that nifty can show higher levels again. Below that it can come down to 4655-4614.. and breaking 4614, it can bring 4550/60 zone, which is another very strong support for nifty.
Resistance: 4715/31 remains the big hurdle. Above that nifty can easily go up to 4766/82 as shown on figure and witness another resistance for short term. Above that 4802-4848-4920 can come.

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VIEW FOR 05-08-2009

Supports: 4655/50 is intermediate support for the day, below that 4610/14 zone is crucial one. Breaking that Nifty can move towards 4570-4550, where lies another important support. From the closing chart posted above 4580 zone is very crucial (EoD level).
Resistances: 4709/15 is big time crucial for nifty. a convincing break above 4715 can show newer highs on nifty. Further targets nifty will be 4750-4765/77-4802 and much higher positionally :).

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VIEW FOR 04-08-2009

This chart was posted while discussing the longer term state of the market on the day of 19Th July, 2009, in the post called "A longer term take on nifty". And today we are on the verge of breaking the hurdle of 4730. As discussed Nifty above 4730/40 zone can target 5220-5500 in coming days. Posting the chart below here....


We may also experience stiff resistances going forward, but strategy should be remain short for at most 1-2 days, and buy on every dips. Though intra basis views can and will alter with the change in price movement.


Supports: 4677/75 is very crucial from short term perspective, holding that closing basis can show much higher levels. Below 4675 , 4634-4590 is possible again.
Resistances: 4769/80 is key on upside. Though it's bullish bit time but an an intra correction can take place if that's not crossed very convincingly. Above that 4814-4840/50 can be the next targets for Nifty.

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VIEW FOR 03-08-2009

It was asserted on the Friday post that "it can really become quite bullish after crossing 4589/92 zone". We made a comfortable gap up above that level and went to one of the crucial resistance @ 4677. The breakout zone worked as support while retracing from the top. Now for the shortest term it's still looking bullish and can cross 4677 zone for next higher levels....






So for the week and month beginning,
Supports: 4607/04 is the most important level to watch to maintain the uninterrupted bullish on
short term also. Below that Nifty can target 4585-4555/44 zone.
Resistances:4658 78.6 rt of 4679-4585 down move), above that the last high will be again challenged, above crossing that nifty can target 4710/21-4769/79 zone.

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VIEW FOR 31-07-2009

After the sudden fall on 29th nifty managed really well to recover yesterday and covered almost all the losses it experienced. As discussed on yesterday's post nifty made a low of 4473 (given 4475) and crossed 4535 as well. As nifty has managed to complete a BC=1.618*AB move at 4535, it's bullish to test at least 4589/92 and decide further moves for the day. But it can really go up and break the 4610 barrier this time to target higher prices. So for the coming session,

Supports: 4535-30 is pivotal and important for nifty to maintain the uptrend in intra too. Below that it can some intra weakness by targeting 4505/4495-4475.
Resistances: As shown on chart it can really become quite bullish after crossing 4589/92 zone, and target 4610/19-4665/77-4706-4731-4765/67 zones.

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VIEW FOR 30-07-2009

Nifty showing corrective move on the upside from yesterday's low of 4415. As long 4532/35 is not crossed it can be weak and under pressure by the bears. In that case,
Supports: 4478/75 can be pivotal . Below that nifty can target 4442/40 and decide further moves. At 4395/90 lies the crucial support for medium term.
Resistances: 4532/35 is most crucial, above which next target fro nifty will be 4562/67-4586. Above 4586 Nifty can show more strength with a target of 4660 positional.

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VIEW FOR 29-07-2009

A trend line look ...


4660 level was discussed earlier. Take a look at more extended target for nifty on a valid breakout above 4610 zone.


A 423.65 extension of first top from 4194 is at 4610 zone. Above that 4707-4766 can be
possible target for nifty, though above 4660/70.


For coming session:
Supports: 4550/45 is important zone below that nifty can be under pressure and 4525-4505-4475/72 can be possible supports/target.
Resistances: 4590-4610 remain the crucial barrier on the upside. A convincing breakout above 4610 can bring 4637-4660/70 and above 4700 positionally.

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