iCharts Discussions

[vinay28]

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

Nifty for Wednesday (28/12/16) and beyond

Supports are at about 8027/11, 7991/80/35/10 and 7891 while resistances are at about 8045/78/96, 8117/40/59 and 8215. Unfilled gaps on higher sides are at about 8062/8140. Two +WWs can give about 8134/65 (if above 8052) (+WWs with higher targets are not mentioned as of now). A -WW can give about 7946 (if below 8002) (-WWs with lower targets are not mentioned as of now).

Nifty opened gap up and didn't look back. It made a higher high than last two days to close strongly +ve well above 8000 indicating a reversal as suggested yesterday. Daily candle is a big, bullish Marubuzo but volume is not strong +ve and this reversal may fizzle out unless strong buying resumes. Nifty must close above 8087/8154 to continue the rally while a close below 7985 may start fresh fall. Global and local eco-geo-political events and liquidity can have a bearing on how nifty moves in short term.

[Niftyman]

[vinay28]

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

Nifty for Thursday (29/12/16) and beyond

Supports are at about 8029/15/00, 7975/56/36/13 and 7900 while resistances are at about 8060/75/86, 8105/35 and 8215. Unfilled gap on higher side is at about 8140. Two +WWs can give about 8138 (if above 8052) and 8175 (if above 8175) (+WWs with higher targets are not mentioned as of now). A -WW can give about 7946 (if below 8002) (-WWs with lower targets are not mentioned as of now).

Nifty opened gap up, made a higher and reacted to close mildly -ve but well above 8000. Daily candle is an inverted hammer but with strong +ve volume and we may see higher levels. Nifty must close above 8087/8154 to continue the rally while a close below 7985 may start fresh fall. Global and local eco-geo-political events and liquidity can have a bearing on how nifty moves in short term.