iCharts Discussions

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

Some observation for pessimists and perennial bears to note:

BSE Dollex 30 made a low of 3053 on 13/9/15 and yesterday its was I think 3072. This is the level from which break out took place in 2014. This level tells us that dollar equivalent of nifty is around 6000-6400.

Make your own judgement.

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

Updated NF levels as of 10/12.

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

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

Nifty for Friday (11/12/15) and beyond

Supports are at about 7673, 7659, 7629, 7577 and 7517 while resistances are at about 7717, 7731, 7752, 7777, 7804 and 7849. Unfilled gaps on higher/ lower sides are at about 7865/7526. Two +WWs can give about 7804 (if above 7690) and 7819 (if above 7707) (+WWs with higher targets are not mentioned as of now). A -WW can give about 7638 (if below 7684) (-WWs with lower targets are not mentioned as of now).

Nifty rose after a gap up open but only after filling the gap and closed +ve with good volume and well above 7650 and some recovery seems on the way. There is a +ve div and we may see some recovery. Daily close above 7732 may be adequate but weekly close above 7763 is must for any chance of further upmove. A close above 7782 will be welcome. A close below 7612 can start another fall. Global and local eco-political events can have a bearing on how nifty moves in short term.

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

Previous low of 7539 is last hope otherwise another 100-200 down seems certain.

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

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

Nifty for Monday (14/12/15) and beyond

Supports are at about 7561/53, 7525/17 and 7499 while resistances are at about 7633, 7652, 7687, 7731, 7760 and 7793. Unfilled gaps on higher/ lower sides are at about 7865/7526. Two +WWs can give about 7703 (if above 7602), 7806 (if above 7688) and 8000+ (if above 7642) (+WWs with higher targets are not mentioned as of now). A -WW can give about 7526 (-WWs with lower targets are not mentioned as of now). A HnS can give about 7380 if nifty sustains below 7725.

Nifty fell sharply after a gap up open and looks very bearish. Daily candle is bearish engulfing and weekly close is lowest in 14 months. There is a +ve div and we may see some recovery. Previous low of 7539 is crucial. Daily close above 7684 is a must to begin with while a close below 7558/39 can start another fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully in view of chances of a FED rate hike on 16th.

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

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

Nifty for Tuesday (15/12/15) and beyond

Supports are at about 7619. 7576, 7550 and 7528/17/12/06 while resistances are at about 7659, 7673, 7695, 7728, 7742 and 7768. Unfilled gaps on higher/ lower sides are at about 7865/7526. A +WW can give about 7703 (if above 7599) (+WWs with higher targets are not mentioned as of now). A -WW can give about 7515 (-WWs with lower targets are not mentioned as of now). A HnS can give about 7380 if nifty sustains below 7725.

Nifty rose sharply after a gap down open. Daily candle is bullish engulfing with +ve div and we may see some recovery. Previous low of 7539 is crucial. Daily close above 7684 is a must to begin with while a close below 7610 can be bad. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully in view of chances of a FED rate hike on 16th.

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

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

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

Supports are at about 7674, 7660, 7646 and 7594/86 while resistances are at about 7731, 7749, 7768, 7784, 7803, 7860 and 7890. Unfilled gaps on higher/ lower sides are at about 7865/7526. Three +WWs can give about 7775 (if above 7714), 7838 (if above 7737) and 7863 (if above 7660) (+WWs with higher targets are not mentioned as of now). A -WW can give about 7630 (-WWs with lower targets are not mentioned as of now). A HnS can give about 7380 if nifty sustains below 7725.

Nifty rose sharply after a gap up open and closed just above 7700. It managed to cross last Friday's high with good +ve volume. Daily close above 7732 is a must to begin with though a close above 7763 is preferred to give hopes to bulls. A close below 7610 can be bad. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully in view of chances of a FED rate hike on 16th.

apka · Black Belt Joined: 13 Dec 2011 Posts: 6137

The US market went up after fed rate hike... Why do they like rate hike?

pkholla · Black Belt Joined: 04 Nov 2010 Posts: 2890

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

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

Nifty for Friday (18/12/15) and beyond

Supports are at about 7811, 7793, 7762, 7750, 7725, 7700 and 7667 while resistances are at about 7858/, 7889, 7891, 7902, 7923 and 7953. Unfilled gaps on higher/ lower sides are at about 7865/7700. Three +WWs can give about 7904, 7946 (if above 7829) and 8049 (+WWs with higher targets are not mentioned as of now). A -WW can give about 7730 (if below 7807) (-WWs with lower targets are not mentioned as of now). A HnS can give about 7380 if nifty sustains below 7725.

Nifty rose sharply again after a gap up open and closed below 7850 and higher levels now seem likely. On daily basis, a close above 7857/7955 is required but not below 7732. On a weekly basis, a close above 7943 is required and not below 7762. Global and local eco-political events can have a bearing on how nifty moves in short term.

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

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

Nifty for Monday (21/12/15) and beyond

Supports are at about 7750, 7732, 7711, 7698 and 7667 while resistances are at about 7779/87, 7818/33/46/70, 7925 and 7977. Unfilled gaps on higher/ lower sides are at about 7845/7700. Two +WWs can give about 7928 and 7949 (if above 7824) (+WWs with higher targets are not mentioned as of now). A -WW can give about 7715 (if below 7778) (-WWs with lower targets are not mentioned as of now). A HnS can give about 7380 if nifty sustains below 7725.

Nifty fell sharply in spite of a gap down open and closed above 7750. Daily candle is an Inside Bar and we may see further fall. However, weekly candle is bullish engulfing and the fall may be limited. A close above 7845/7857 can result in further rise while a close below 7731 can start further fall. Global and local eco-political events can have a bearing on how nifty moves in short term.

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

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

Nifty for Tuesday (22/12/15) and beyond

Supports are at about 7817, 7800, 7762, 7733, 7719 and 7693 while resistances are at about 7859, 7875, 7896, 7913, 7925 and 8027. Unfilled gaps on higher/ lower sides are at about 7845/7700. Two +WWs can give about 7937 and 7953 (if above 7819) (+WWs with higher targets are not mentioned as of now). Two -WW can give about 7757 (if below 7835) and 7717 (if below 7862) (-WWs with lower targets are not mentioned as of now). A HnS can give about 7385 if nifty sustains below 7730.

Nifty rose sharply after a gap down open and closed well above 7800. Daily candle is bullish engulfing and we may see further rise. A close above 7857 can result in further rise while a close below 7761 can start further fall. Global and local eco-political events can have a bearing on how nifty moves in short term.

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

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

Nifty for Wednesday (23/12/15) and beyond

Supports are at about 7772, 7757, 7731 and 7719 while resistances are at about 7806, 7832, 7855, 7876, 7896, 7906 and 7925. Unfilled gaps on higher/ lower sides are at about 7865/7700. Two +WWs can give about 7839 (if above 7793) and 7944 (+WWs with higher targets are not mentioned as of now). Two -WW can give about 7755 (if below 7837) and 7715 (if below 7864) (-WWs with lower targets are not mentioned as of now). A HnS can give about 7385 if nifty sustains below 7730. A bullish flag can give higher levels unless killed below 7715.

Nifty fell again and closed below 7800. Daily candle is NR4 and we may see a big move on Wednesday. A close above 7857 can result in further rise while a close below 7761 can start further fall. Global and local eco-political events can have a bearing on how nifty moves in short term.