iCharts Discussions

[vinay28]

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

Nifty for Monday (17/08/15) and beyond

Supports are at about 8500, 8470, 8420 and 8380 while resistances are at about 8540, 8576, 8597, 8608, 8635, 8690 and 8700. Unfilled gap on lower side is at about 8355 while previous high were at about 8622/55. A +WW can give about 8614 (if above 8485) (+WWs with higher targets are not mentioned as of now). Two -WWs can give 8492 (if below 8529) and 8460 (if below 8492) (-WWs with lower targets are not mentioned as of now).

Nifty rose furiously in spite of a big gap up open and closed above 8500 and also above 200 dma. Daily candle is big and bullish but volume is not commensurate. Such a candle can be deceptive and we need to get a strong follow up upmove for next two days to confirm the bullishness. However, weekly candle is a hanging man cum bearish engulfing and volume is strongly -ve. Hence, we may not see much more rise from here without some more consolidation. If nifty doesn't touch/cross 8655 but RSI crosses 60.19, it may fall quickly. To begin with nifty must close above 8530 but preferably above 8589/8634 for rally to continue. Global and local eco-political events can have a bearing on how nifty moves in short term.

[vinay28]

[ankur11_11]

Hello Vinay ,

I love to read your personal views
its been long since i posted any comment on any thread on iChart.

keep up the good work.

BTW , i am too long in niftyfut from 8397 , was watching your levels today.
So , I kept my positions .

Lets see ....

[vinay28]

[pkholla]

Re: Delay in shift to Aug 15 series!
Vinay: For some reason, number of posts in this thread has come down drastically. Perhaps you can rotate to fresh thread once a quarter from now on!
And call it : "Nifty View Q2 2015-6"?

Prakash Holla

[vinay28]

[vinay28]

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

Nifty for Tuesday (18/08/15) and beyond

Supports are at about 8456, 8425, 8410, 8375, 8360, 8343 and 8328 while resistances are at about 8499, 8510, 8532, 8579, 8602 and 8650. Unfilled gap on lower side is at about 8355 while a previous high is at about 8622. Two +WWs can give about 8530 (if above 8434) and 8562 (if above 8475)(+WWs with higher targets are not mentioned as of now). Two -WWs can give 8400/8376 (if below 8532) (-WWs with lower targets are not mentioned as of now).

Nifty fell sharply upon open and breached 200 dma but recovered a bit to close below 8500 but above 200 dma. Though it caused a jitter, money flow being OK, a lower low seems unlikely. However, it must close above 8589 first to give hopes to bulls. A close below 200 dma (about 8457) again may be worrisome. Global and local eco-political events can have a bearing on how nifty moves in short term.

[ankur11_11]

sold my positions .. and fresh sell initiated @8483 (fut rate).

Waiting for your personal unbiased view Vinay.

[vinay28]

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

Nifty for Wednesday (19/08/15) and beyond

Supports are at about 8421, 8380, 8360 and 8345 while resistances are at about 8478, 8495, 8504, 8520, 8571 and 8586. Unfilled gap on lower side is at about 8355 while a previous high is at about 8622. A +WW can give about 8567 (if above 8478) (+WWs with higher targets are not mentioned as of now). Two -WWs can give 8370/8350 (if below 8530) (-WWs with lower targets are not mentioned as of now).

Nifty fell again after a gap up open, once again breached 200 dma but recovered a bit to close again above 200 dma. Daily candle is a non-descript inside bar but volume is troubling. It seems nifty is at a make or break stage and I feel we may see a 150 point move either side soon. A close above 8589 is must to give hopes to bulls. A close below 200 dma (about 8459) again may be worrisome. Global and local eco-political events can have a bearing on how nifty moves in short term.

[vinay28]

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

Nifty for Thursday (20/08/15) and beyond

Supports are at about 8477, 8437, 8423, 8383, 8360 and 8345 while resistances are at about 8504, 8538, 8578, 8597, 8650 and 8690. Unfilled gap on lower side is at about 8355 while a previous high is at about 8531. A +WW can give about 8572 (if above 8469) (+WWs with higher targets are not mentioned as of now). Two -WWs can give 8345/25 (if below 8530) (-WWs with lower targets are not mentioned as of now).

Nifty fell again, once again breached 200 dma but recovered strongly to close well above 200 dma and just below 8500. It has to sustain above 8530 to rally further. A close above 8589 is a must to give hopes to bulls. A close below 200 dma (about 8459) again may be worrisome. Global and local eco-political events can have a bearing on how nifty moves in short term.

[asrtrade]

Just an observation: Nifty has been making lower highs now- for the last 2 trading sessions (and a lower low today)...

[ankur11_11]

i had to square up my sold position yesterday in 20 point loss .... no trade until nifty " makes or breaks "

[vinay28]

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

Nifty for Friday (21/08/15) and beyond

Supports are at about 8360, 8345, 8330, 8318 and 8266 while resistances are at about 8402, 8415, 8465, 8486, 8495 and 8504. Unfilled gap on lower side is at about 8355 while a previous low is at about 8321. A +WW can give about 8426 (if above 8393) (+WWs with higher targets are not mentioned as of now). A -WW can give 8302 (-WWs with lower targets are not mentioned as of now).

Nifty collapsed at last and closed below 200, 50 and 100 dma and looks ominous. Sustaining below 8330 can cause much more fall. Only some +ve major news event can save nifty. Global and local eco-political events can have a bearing on how nifty moves in short term.

[saurabhkurichh]

[pkholla]