iCharts Discussions

[vinay28]

[riteshucha]

there is one gap at 8288-8296 also...

[vinay28]

[riteshucha]

ya realised after posting

Ritesh

[vinay28]

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

Nifty for Monday (12/12/16) and beyond

Supports are at about 8248/20, 8194/37/04 and 8093 while resistances are at about 8282, 8300/25/44 and 8367. Unfilled gaps on higher/lower sides are at about 8297/8102. 8297 is a weekly gap as well. 200 dsma is at about 8197. Four +WWs can give about 8312/42/72 and 8415 (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 8200/7994 (if below 8277) and 8169 (if below 8252) (-WWs with lower targets are not mentioned as of now).

Nifty opened gap up but fell and remained in a very tight range before closing mildly -ve but above 8250. Daily candle is a hanging man cum likely evening star, latter to be confirmed by a subsequent red candle, preferably after a gap down open. However, volume is strong +ve. Also, weekly candle is bullish engulfing, having come after a weekly strong hammer and a strong inverted hammer, with good +ve volume. Hence, fall, if any, may be limited. In fact, I feel nifty is very bullish. The hidden bullish div being mentioned for many days seems to be giving results.

Friday's candle was a NR81 day and we should see very big moves next week. Nifty must close above 8297 to give hopes of further rally while a close below 8224 can start a fresh fall. Global and local eco-geo-political events and liquidity can have a bearing on how nifty moves in short term. Expect volatility this being a long expiry.

[vinay28]

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

Nifty for Tuesday (13/12/16) and beyond

Supports are at about 8142/30/10/00, 8058/38/22 and 8010 while resistances are at about 8195, 8205/25/34/48/70 and 8284. Unfilled gaps on higher/lower sides are at about 8262/8102. 200 dsma is at about 8202. A +WW can give about 8230 (if above 8173) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8073 (if below 8230) and 7984 (if below 8278) (-WWs with lower targets are not mentioned as of now).

Nifty opened gap down and tanked to close strongly -ve well below 8200 and seems to have confirmed the evening star. Daily volume is not strong -ve and further fall may be limited. Nifty must close above 8262 to give hopes of further rally while a close below 8142 can cause more fall. Global and local eco-geo-political events and liquidity can have a bearing on how nifty moves in short term. Expect volatility this being a long expiry as well as due to FED policy this week.

[vinay28]

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

Nifty for Wednesday (14/12/16) and beyond

Supports are at about 8190/70/47/24/15 and 8038 while resistances are at about 8255/80/90, 8322 and 8353. Unfilled gaps on higher/lower sides are at about 8262/8102. 200 dsma is at about 8207. Two +WWs can give about 8249 and 8280 (if above 8190) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8153 (if below 8205), 8071 (if below 8232) and 7972 (if below 8280) (-WWs with lower targets are not mentioned as of now).

Nifty opened gap up, fell initially but recovered later to close +ve and well above 8200. Daily candle is an inside bar with strong +ve volume and further rise is likely. Nifty is now bullish if sustains above 8231 and bearish if sustains below 8154. Nifty must close above 8262 to give hopes of further rally while a close below 8170 can cause start a fresh fall. Global and local eco-geo-political events and liquidity can have a bearing on how nifty moves in short term. Expect volatility this being a long expiry as well as due to FED policy this week.

[vinay28]

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

Nifty for Thursday (15/12/16) and beyond

Supports are at about 8174/58/40/15, 8056 and 8023 while resistances are at about 8200/28/50/71/92, 8316 and 8345. Unfilled gaps on higher/lower sides are at about 8262/8102. 200 dsma is at about 8212. Two +WWs can give about 8245/64 (if above 8195) and 8257 (if above 8162) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8116/7959 (if below 8285) (-WWs with lower targets are not mentioned as of now).

Nifty opened gap up but fell to close -ve and below 8200. Daily volume is strong -ve volume and further rise is likely. Nifty is bullish if sustains above 8231 and bearish if sustains below 8154. Nifty must close above 8262 to give hopes of further rally while a close below 8170 can cause start a fresh fall. Global and local eco-geo-political events and liquidity can have a bearing on how nifty moves in short term. Expect volatility this being a long expiry.

[vinay28]

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

Nifty for Friday (16/12/16) and beyond

Supports are at about 8138/15, 8094/58/40/22 and 7988 while resistances are at about 8180, 8205/22/43/88 and 8300. Unfilled gaps on higher/lower sides are at about 8262/8102. 200 dsma is at about 8217 while 50wsma is at about 8097. Three +WWs can give about 8224/81 (if above 8164) and 8257 (if above 8192) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8016/7947 (-WWs with lower targets are not mentioned as of now). A HnS can give about 8035 if nifty breaks and sustains below 8128.

Nifty opened down with a big gap but rose sharply but missed a higher high. It then fell a lot to close +ve just above 8150. Daily candle is an inverted hammer with strong -ve volume and further fall looks imminent. Nifty must close above 8222 to begin with while a close below 818114/8102/8086 can cause more fall. Global and local eco-geo-political events and liquidity can have a bearing on how nifty moves in short term. Expect volatility this being a long expiry.

[vinay28]

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

Nifty for Tuesday (20/12/16) and beyond

Supports are at about 8090/80/65/56/40 and 8025 while resistances are at about 8120/35/55/70, 8208/15/48 and 8280. Unfilled gaps on higher/lower sides are at about 8140/7965. Two +WWs can give about 8141/8287 (if above 8098) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8000/7945 (-WWs with lower targets are not mentioned as of now). A HnS can give about 8040 if nifty sustains below 8130.

Nifty opened gap down, made a lower low but remained in a small range to close -ve just above 8100. Daily volume is small -ve and further fall, if any may be limited. Monday was a NR6 candle and we may see a big move soon. Nifty must close above 8154 to begin with while a close below 8086 can cause more fall. Global and local eco-geo-political events and liquidity 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 Wednesday (21/12/16) and beyond

Supports are at about 8058/51/49/38/24/20 and 7999 while resistances are at about 8095, 8105/25/38/51/60/70/86, 8220/57 and 8280. Unfilled gaps on higher/lower sides are at about 8140/7965. Two +WWs can give about 8145/8290 (if above 8090) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8000/7945 (-WWs with lower targets are not mentioned as of now). A HnS can give about 8040 if nifty sustains below 8140.

Nifty opened gap up but fell to make a lower low and closed -ve below 8100. Daily volume is good -ve and we may see further fall, albeit limited. Nifty must close above 8154 to begin with while a close below 8033 can cause more fall. Global and local eco-geo-political events and liquidity can have a bearing on how nifty moves in short term.

P.S. - I intend to start buying Jan/Feb/March distant calls at 8055 and below as I expect a huge rally soon till Feb. My progressive SLs will be close below 8033/7965/7929. Do your own study. Following me can be dangerous as I often go wrong.

[vinay28]

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

Nifty for Thursday (22/12/16) and beyond

Supports are at about 8050/30/05 while resistances are at about 8085, 8105/40/70 and 8215. Unfilled gaps on higher/lower sides are at about 8140/7965. Two +WWs can give about 8147/8292 (if above 8088) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8000/7945 (-WWs with lower targets are not mentioned as of now). A HnS can give about 8040 if nifty sustains below 8140.

Nifty opened gap up but fell to make a lower low and closed -ve below 8100. Daily volume is average -ve and we may see a low soon. Nifty must close above 8154 to begin with while a close below 8033 can cause more fall. Global and local eco-geo-political events and liquidity 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 Friday (23/12/16) and beyond

Supports are at about 7966/59/40/10 and 7865 while resistances are at about 8005/27/41/60/85, 8105/23 and 8137. Unfilled gaps on higher/lower sides are at about 8062/7929. (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7927/7892 (-WWs with lower targets are not mentioned as of now).

Nifty opened gap down and fell further to make a lower low and closed strongly -ve below 8000. Both daily and weekly volumes are below average and we may see a bottom soon. Also, there is strong hidden bullish div on daily and lower TFs and a +ve div on weekly and hence we may see a sharp reversal. On daily basis, nifty must close above 8034/87 while on weekly basis, it must close above 8075/87/8115. On daily basis, a close below 7965/29 can cause panic though weekly close below 8074 is actually bearish if low volume is ignored. Global and local eco-geo-political events and liquidity 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 Monday (26/12/16) and beyond

Supports are at about 7944/35, 7895 and 7865 while resistances are at about 8003/30/40/56/70, 8112/25/83 and 8199. Unfilled gaps on higher/lower sides are at about 8062/7929. Two +WWs can give about 8123/57 (if above 8051) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7940/7890 (if below 7999) (-WWs with lower targets are not mentioned as of now).

Nifty opened gap down and fell further to make a lower low but recovered to close +ve but below 8000. Daily candle is a doji with good +ve volume and +ve div. Also, though weekly candle and close are bearish, volume is not commensurate and hence we may see some more rise. There is a strong hidden bullish div on daily and weekly but we will see a sharp rise only if sustained buying resumes. Nifty must close above 8034/87 to begin with while a close below 7965/29 can cause more pain.

It should be noted that monthly and quarterly candles will be bad while half yearly candle will be an inverted hammer and yearly candle a doji. Global and local eco-geo-political events and liquidity 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 Tuesday (27/12/16) and beyond

Supports are at about 7891/70/40/20 and 7770 while resistances are at about 7930/60, 8011/30/48/77 and 8092. Unfilled gaps on higher/lower sides are at about 7986/7748. Two +WWs can give about 8030/79 (if above 7950) (+WWs with higher targets are not mentioned as of now). A -WW can give about 7760 (-WWs with lower targets are not mentioned as of now).

Nifty opened gap down and fell further to make a lower low to retrace 50% of rise from 6825 and closed at a new low since 26/5 and just above 7900. Daily volume is average and there is a +ve div. Also, nifty is oversold on all TFs. In addition, there is a strong hidden bullish div on daily and weekly but we will see a sharp rise only if sustained buying resumes. Nifty must close above 7930/66 to begin with while a close below 7900 can cause more pain.

It should be noted that monthly and quarterly candles will bad while half yearly candle will be an inverted hammer and yearly candle a doji. Global and local eco-geo-political events and liquidity can have a bearing on how nifty moves in short term.