iCharts Discussions

[vinay28]

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

Nifty for Friday (25/11/16) and beyond

Supports are at about 7940/30/14/04, 7890 and 7874 while resistances are at about 7990, 8005/15/28/60/72 and 8140. Unfilled gaps on higher/lower sides are at about 8033/7929. Two +WWs can give about 8194/8278 (if above 7940) (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 7906/7885/05 and 7270 (-WWs with lower targets are not mentioned as of now). A HnS can give about 7340 if nifty sustains below 7910.

Nifty opened gap down and fell further to close -ve well below 8000. Daily candle is the third inside bar to Monday's candle and hence nifty must sustain above/below 8013/7916 resp. to give break out/down. Volume was strong -ve and hence lower level is likely. The oversold nifty along with strong hidden bullish div can give much higher levels only if sustained buying resumes. Weekly chart will show 5 consecutive red candles for the first time since Feb '13.

Nifty must close above 8034 to begin with while a close below 7929 and particularly below 7899 can cause more pain. 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 (28/11/16) and beyond

Supports are at about 8077/65/27/13, 7974/38 and 7915 while resistances are at about 8144/64/76, 8220 and 8258. Unfilled gaps on higher/lower sides are at about 8297/7965. 200 dsma is about 8151. Three +WWs can give about 8214/31/92 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7908/7880 (if below 8106) (-WWs with lower targets are not mentioned as of now).

Nifty opened gap up and didn't look back before closing strongly +ve above 8100 and above 50 wsma. Daily volume is not commensurate and we may see some consolidation. However, weekly candle is a strong hammer with strong +ve volume and fall, if any, may be limited. The oversold nifty along with strong hidden bullish div can give much higher levels only if sustained buying resumes. Nifty has already gone up 206 points above low. A close below 8033 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 24 day expiry.

[vinay28]

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

Nifty for Tuesday (29/11/16) and beyond

Supports are at about 8105, 8075/45/25/11, 7987/70 and 7952 while resistances are at about 8165/96, 8200/45 and 8260. Unfilled gaps on higher/lower sides are at about 8297/7965. 200 dsma is about 8154. Three +WWs can give about 8225/70/8303 (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 8097 (if below 8149), 8052 (if below 8127) and 8040 (if below 8077) (-WWs with lower targets are not mentioned as of now).

Nifty opened gap down but rose to close +ve above 8100. Daily volume is strong +ve but rate of nifty rise is slow and we may see some consolidation. The oversold nifty along with strong hidden bullish div can give much higher levels only if sustained buying resumes. Nifty must close above 8297 to begin with while a close below 8033 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 24 day expiry.

[vinay28]

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

Nifty for Wednesday (30/11/16) and beyond

Supports are at about 8110, 8080/30/08, 7998/70 and 7959 while resistances are at about 8158/90, 8220/30/54/65 and 8292. Unfilled gaps on higher/lower sides are at about 8297/8126. 200 dsma is about 8158. Three +WWs can give about 8237/81/8310 (if above 8026) (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 8091 (if below 8156), 8046 (if below 8130) and 8038 (if below 8079) (-WWs with lower targets are not mentioned as of now).

Nifty opened gap up, rose but fell to close +ve above 8100 but below 200 dsma. Daily candle is an inverted hammer with strong +ve and hence fall, if any, may be limited. The oversold nifty along with strong hidden bullish div can give much higher levels only if sustained buying resumes. Nifty must close above 8297 to begin with but preferably above 8408 while a close below 8114 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 24 day expiry.

[vinay28]

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

Nifty for Thursday (01/12/16) and beyond

Supports are at about 8193/79/64/55, 8045 and 8031 while resistances are at about 8244/65/75/92, 8300/35 and 8344. Unfilled gaps on higher/lower sides are at about 8297/8126. 200 dsma is about 8160. Two +WWs can give about 8282/8323 (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 8116 (if below 8199), 8084 (if below 8155) and 8041 (if below 8140) (-WWs with lower targets are not mentioned as of now).

Nifty opened gap up, filled the gap and then rose sharply to close strongly +ve above 8200 and well above 200 dsma. Daily volume is strong +ve but monthly candle and volume are bad and it appears that Dec could be dicey. Unless sustained and strong buying continues to support the hidden bullish div being mentioned for many days. Nifty must close above 8297 to begin with while a close below 8142 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 Friday (02/12/16) and beyond

Supports are at about 8180/60/45/35/05, 8082/45 and 8015 while resistances are at about 8215/32/50/65/80, 8306 and 8320. Unfilled gaps on higher/lower sides are at about 8297/8126. 200 dsma is about 8165. Three +WWs can give about 8226 (if above 8188) and 8251/93 (+WWs with higher targets are not mentioned as of now). Three can give about 8109 (if below 8199), 8083 (if below 8159 and 8030 (below 8142 (-WWs with lower targets are not mentioned as of now).

Nifty opened gap up but fell to close below 8200 but above 200 dsma. Daily candle is bearish piercing with good -ve volume and we may see lower levels. Unless sustained and strong buying continues to support the hidden bullish div being mentioned for many days. Nifty must close above 8225 to begin with while a close below 8142 can start a fresh fall. On a weekly basis, minimum close reqd is above 8138. 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 Monday (05/12/16) and beyond

Supports are at about 8045/32/14, 7996/76 and 7916 while resistances are at about 8110/50/71/84, 8200/33 and 8250. Unfilled gaps on higher/lower sides are at about 8193/7965. 200 dsma is about 8169. Two +WWs can give about 8139 and 8171 (if above 8100) (+WWs with higher targets are not mentioned as of now). A -WW can give about 8026 (if below 8142) (-WWs with lower targets are not mentioned as of now).

Nifty opened gap down and fell sharply to close below 8100, below 200 dsma but just above 50 wsma. Daily and weekly volumes are not strong -ve but weekly candle is a gravestone doji countering the strong hammer of previous week. hence, further fall, if any, may be limited. Unless sustained and strong buying continues, the hidden bullish div being mentioned for many days will not give results. Nifty must close above 8225 to begin with while a close below 8033 can cause further 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 (06/12/16) and beyond

Supports are at about 8110/8100, 8090/70/40/19/10, 7985 and 7973 while resistances are at about 8140/58/70/81, 8200/25/54 and 8275. Unfilled gaps on higher/lower sides are at about 8193/7965. 200 dsma is about 8174. Two +WWs can give about 8181 (if above 8096) and 8241 (+WWs with higher targets are not mentioned as of now). A -WW can give about 8015 (if below 8147) (-WWs with lower targets are not mentioned as of now).

Nifty opened flattish, fell to make a lower low but recovered sharply to close +ve well above below 8100. Daily volume is not strong +ve and hence, further rise, if any, may be limited. Unless sustained and strong buying continues, the hidden bullish div being mentioned for many days will not give results. Nifty must close above 8225 to begin with while a close below 8086 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 Wednesday (07/12/16) and beyond

Supports are at about 8128/18, 8094/58/40/18 and 7985 while resistances are at about 8160/70/80/95, 8210/21/60 and 8280. 200 dsma is at about 8180. Unfilled gaps on higher/lower sides are at about 8193/8128. Two +WWs can give about 8194 (if above 8077) and 8271 (if above 8171) (+WWs with higher targets are not mentioned as of now). A -WW can give about 8007 (if below 8151) (-WWs with lower targets are not mentioned as of now). A IHnS can give about 8240 if nifty sustains above 8180.

Nifty opened gap up, made a higher high but reacted from 200 dsma to close mildly -ve but above 8100. Daily candle is an inverted hammer cum doji but with strong +ve volume. Tuesday was a NR23 day and we should see a big move soon. Unless sustained and strong buying continues, the hidden bullish div being mentioned for many days will not give results. Nifty must close above 8225 to begin with while a close below 8086 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. Trade carefully today being a RBI policy day. Also, 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 Thursday (08/12/16) and beyond

Supports are at about 8086/74/57/37/15 and 7995 while resistances are at about 8130/45/75, 8204/12/45/64 and 8280. Unfilled gaps on higher/lower sides are at about 8193/7929. A +WW can give about 8214 (if above 8100) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8051/8007 (-WWs with lower targets are not mentioned as of now).

Nifty opened gap up, remained in a tight range but tanked later to make a lower low before closing strongly -ve but above 8100. Daily volume is not strong -ve compared to the range. Unless sustained and strong buying continues, the hidden bullish div being mentioned for many days will not give results. Nifty must close above 8144 to begin with while a close below 8086 can cause further 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]

Nifty has formed massive div w.r.t. to $-INR. Hoping for a post-2016-budget like rally, fast and furious.

[rrsekhar]

[anusantosh]

[vinay28]

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

Nifty for Friday (09/12/16) and beyond

Supports are at about 8226/00, 8175/29/09 and 8088 while resistances are at about 8290, 8300/30/53/67 and 8381. Unfilled gaps on higher/lower sides are at about 8297/8102. 200 dsma is at about 8191. Five +WWs can give about 8266/98, 8329/70 and 8412 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8096 (if below 8214 and 8003 (if below 8256) (-WWs with lower targets are not mentioned as of now).

Nifty opened gap up and didn't look back. It rose sharply to close strongly +ve below 8250. Daily candle is big, bullish Marubuzo but without strong +ve volume. Unless sustained and strong buying continues, the hidden bullish div being mentioned for many days will not give results. 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.

[apka]