iCharts Discussions

[bappa1971]

[vinay28]

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Wednesday (13/04/16) and beyond

Supports are at about 7690/73/55/32/12 and 7578 while resistances are at about 7720/33/45/54 and 7855/65. Unfilled gaps on higher and lower sides are at about 7759/7512 resp. 100/200 dma are at about 7565/7876 resp. Three +WWs can give about 7774/90 and 7814 (+WWs with higher targets are not mentioned as of now). A -WW can give about 7669 (if below 7719) (-WWs with lower targets are not mentioned as of now). Two IHnS can give about 8040/8300 if nifty sustains above 7640/7825 resp.

Nifty remained in a small range and closed above 7700. Nifty must close above 7759 to continue the rally while a close below 7546 can start fresh fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully, this being a truncated week.

[vinay28]

[vinay28]

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Monday (18/04/16) and beyond

Supports are at about 7826, 7791/34 and 7728 while resistances are at about 7880/92, 7904/25 and 8002/18. Unfilled gaps on higher and lower sides are at about 7964/7708 resp. 200 dma is at about 7874. A +WW can give about 8005 (+WWs with higher targets are not mentioned as of now). A -WW can give about 7798 (if below 7855) (-WWs with lower targets are not mentioned as of now). Two IHnS can give about 8040/8300 if nifty sustains above 7640/7825 resp.

Nifty opened with a big gap and kept rising before closing above 7850. Daily volume was strong but truncated weekly candle volume wasn't commensurate with range. Nifty must close above 7964 to continue the rally while a close below 7758 can start fresh fall. Global and local eco-political events can have a bearing on how nifty moves in short term.

[AMBY]

Thanks,

[vinay28]

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Wednesday (20/04/16) and beyond

Supports are at about 7890/77/57/28/12, 7741 and 7723 while resistances are at about 7938/55/74, 8002 and 8095. Unfilled gaps on higher and lower sides are at about 7964/7708 resp. 200 dma is at about 7869. Three +WWs can give about 7982/8007/8095 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7882 (if below 7920) and 7769 (if below 7868) (-WWs with lower targets are not mentioned as of now). Two IHnS can give about 8040/8300 if nifty sustains above 7640/7825 resp.

Nifty opened with a big gap, reacted quickly but recovered to close above 7900. Daily candle is more a long legged doji than a hanging man but with good +ve volume. Bearish div continues but will give results only if sustained selling resumes. Nifty must close above 7964 to continue the rally while a close below 7758 can start a fresh fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully, this being a truncated week.

[vinay28]

Updated NF levels as of 18/04.

[vinay28]

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Thursday (21/04/16) and beyond

Supports are at about 7902, 7888/75/50 and 7837 while resistances are at about 7957/74/95, 8002 and 8016. Unfilled gaps on higher and lower sides are at about 7964/7708 resp. 200 dma is at about 7868. Two +WWs can give about 7984/8009 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7880/7857 (-WWs with lower targets are not mentioned as of now). Two IHnS can give about 8040/8300 if nifty sustains above 7640/7825 resp. A HnS can give about 7845 if it breaks below 7888.

Nifty opened up with a gap but reacted quickly. It recovered a bit to close above 7900. Daily volume is good +ve. But there is mild -ve div and we may see lower level. Bearish div continues but will give results only if sustained selling resumes. Nifty must close above 7964 to continue the rally while a close below 7758 can start a fresh fall. Global and local eco-political events can have a bearing on how nifty moves in short term.

[vinay28]

Updated NF levels as of 21/04.

[vinay28]

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Friday (22/04/16) and beyond

Supports are at about 7893/68/41/27/11, 7772/41 and 7715 while resistances are at about 7928/75, 8005/28 and 8046. Unfilled gaps on higher and lower sides are at about 7964/7708 resp. 200 dma is at about 7866. Two +WWs can give about 7986/8010 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7855/7799 (-WWs with lower targets are not mentioned as of now). Two IHnS can give about 8040/8300 if nifty sustains above 7640/7825 resp. A HnS can give about 7845 if it breaks below 7888.

Nifty opened up with a gap and fell but managed to close above 7900. Daily volume is strong -ve. Also, there is mild -ve div and we may see lower level. Bearish div continues but will give results only if sustained selling resumes. Nifty must close above 7915 and preferably above 7964 to continue the rally while a close below 7850 can cause more fall. Global and local eco-political events can have a bearing on how nifty moves in short term.

[vinay28]

Updated NF levels as of 22/04.

[vinay28]

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Monday (25/04/16) and beyond

Supports are at about 7870/52/41/31 and 7798 while resistances are at about 7927/52 and 8002. Unfilled gaps on higher and lower sides are at about 7964/7708 resp. 200 dma is at about 7863. Two +WWs can give about 7962/73 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7853/7797 (-WWs with lower targets are not mentioned as of now). Two IHnS can give about 8070/8315 if nifty sustains above 7665/7840 resp. A HnS can give about 7815 if it breaks below 7870.

Nifty opened down with a gap and remained in a narrow range before closing just below 7900 but above 200 dma. Daily candle is doji with -ve volume and hence we may see some fall. However, weekly candle is also a doji but with strong +ve volume and hence fall, if any, may be small. Interestingly, both candles suggest a possible reversal but in opposite directions. Hence, bulls will hope for a green candle, preferably with a gap up open while bears will hope for the opposite. Bearish div continues but will give results only if sustained selling resumes. Daily candle was NR7 while weekly candle was NR6. So, Monday/next week could have a big range. Nifty must close above 7915 and preferably above 7964 to continue the rally while a close below 7850 can cause more fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully, it being an expiry week.

[amitagg]

A doji with strong volumes after an uptrend in prices (6800-8000) would suggest " distribution" rather than something else...... So the fall should be large rather than small "if" it happens...... I may be wrong but "Is that?" The true interpretation I am placing or something else! - wanted a technical view.

Most people are seeing top as 8100-8300 so if that happens fall has to be small as u say.

Regards

[vinay28]

[amitagg]

Thnx