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 (12/02/16) and beyond

Supports are at about 6941, 6885/57/25 and 6797 while resistances are at about 6995, 7012/59, 7114/42 and 7167. Unfilled gaps on higher and lower sides are at about 7216 and 6858 resp. 200 wma is at about 6872. (+WWs with higher targets are not mentioned as of now). (-WWs with lower targets are not mentioned as of now).

Nifty collapsed on local and global clues and closed below 7000, lowest close since 09/05/14 i.e. before Loksabha election results, a massive 22 month low. The persistent +ve as well as bullish div can not take market up without sustained buying. Nifty must close above 7564 to become bullish in short term. There is no nearby support on a closing basis. 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 Monday (15/02/16) and beyond

Supports are at about 6959, 6885/58 and 6793 while resistances are at about 7005/57, 7130/87 and 7216. Unfilled gaps on higher and lower sides are at about 7216 and 6858 resp. 200 wma is at about 6872. (+WWs with higher targets are not mentioned as of now). (-WWs with lower targets are not mentioned as of now). An IHnS can give about 7120 upon BO above 7040.

Nifty fell again but recovered sharply to close below 7000. Daily candle is a hammer with strong +ve volume and +ve div. However, weekly candle is bearish with strong -ve volume. So any upmove may last only for 2-3 days. The persistent bullish div can not take market up much without sustained buying. Nifty must close above 7277 to begin with. There is no nearby support on a closing basis. 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 Monday (22/02/16) and beyond

Supports are at about 7192/67/59/18/11, 7097 and 7049 while resistances are at about 7237/46/67/78, 7322/40 and 7376. Unfilled gaps on higher and lower sides are at about 7299 and 7108 resp. Two +WWs can give about 7261 (if above 7139) and 7326 (+WWs with higher targets are not mentioned as of now). A -WW can give about 7070 (if below 7222) (-WWs with lower targets are not mentioned as of now).

Nifty fell after a gap down open but recovered smartly again to close above 7200. Daily candle is non-descript with average +ve volume. Hence, nifty may try to consolidate here unless it sustains above 7222. Also, it must close above 7277 to be bullish in short term. A close below 7108 followed by 7048 can cause more fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully as vix may shoot up due to expiry week.

[girishvhanchate]

Hi to All Members,

This is just my view.

As per my assumption of mkt... now we are very near to the most awaited Budget.....Just for knowledge sharing.... this is the most volatile moment for Indian Stock Market.... as I have been seeing it since last 10 years of trading.

I think after giving a bull rally till Budget expected somewhere near 7500 to 7700 a lot of investors mentality will be to go long. At this specific juncture in last 10 years I have seen the biggest activities of Stock Operators to mesmarize the small investors or traders so as to gain profits for Institutions or Promoters. So once the small Investors or Traders are in full mood to enjoy "Modi Budget" they will be battered till last drop of blood making them buy @ top. my basic thought for this budget session is all the news based counters gain will be discounted and mkt will be ripe for a fresh fall which will be too steep & fast and Longers (Small Traders or Investors) to take any action on their position.

No Hard Feeling as I mentioned "Modi Budget" as even I am also a big supporter of Honourable Prime Minister of India.

But as its stock market a quote is "Sab Ganda Hai Par Dhanda Hai Ye"

All members please guide me if I am wrong as I am very open to Learn new things every second.

Also I am sorry vinay28 if I have hampered ur area of posts. But just wanted to share.

[vinay28]

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

Nifty for Tuesday (23/02/16) and beyond

Supports are at about 7226/09, 7199/75/30 and 7036 while resistances are at about 7261/78/93, 7319 and 7402. Unfilled gaps on higher and lower sides are at about 7299 and 7108 resp. Two +WWs can give about 7264 (if above 7132) and 7371 (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 7209 (if below 7258), 7179 (if below 7241) and 7042 (if below 7231) (-WWs with lower targets are not mentioned as of now).

Nifty remained in a narrow range and closed above 7200, particularly above the high of last 7 days. Volume is good +ve considering small range. Nifty must close above 7277 to be bullish in short term. A close below 7108 followed by 7048 can cause more damage. Monday was a NR9 day and we may see big moves in coming days. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully as vix may shoot up due to expiry week.

[vinay28]

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

Nifty for Wednesday (24/02/16) and beyond

Supports are at about 7050/42/36 and 6993 while resistances are at about 7124/36/50/64/98, 7207/38 and 7292. Unfilled gaps on higher and lower sides are at about 7299 and 6858 resp. Two +WWs can give about 7151 (if above 7100) and 7263 (if above 7134) (+WWs with higher targets are not mentioned as of now). A -WW can give about 7014 (-WWs with lower targets are not mentioned as of now).

Nifty tanked after a gap up open and closed just above 7100. Daily candle is huge Marubuzo but the volume is not commensurate and hence further fall may be limited. Nifty must close above 7277 to be bullish in short term. A close below 7108 followed by 7048 can cause more damage. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully as vix may shoot up due to expiry week.

[vinay28]

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

Nifty for Thursday (25/02/16) and beyond

Supports are at about 6987/70/56, 6864 and 6858 while resistances are at about 7043/64/74, 7124/36/58/69, 7202 and 7216. Unfilled gaps on higher and lower sides are at about 7109 and 6858 resp. A +WW can give about 7158 (if above 7080) (+WWs with higher targets are not mentioned as of now). A -WW can give about 6988 (-WWs with lower targets are not mentioned as of now).

Nifty fell again and closed above 7000. Nifty must close above 7277 to be bullish in short term. There are no supports on closing basis on lower side. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully as vix may shoot up being expiry day.

[pkholla]

Vinay: Higher OI in 7000P and 7100C shows they are protecting these levels. You agree avec moi? So close = 7040?? (IC level!)
Prakash Holla
Looks like another Rip van Winkle/ Kumbhakarna day! Total apathy

Update @ 1514: NF now 6968 so clearly some sellers of 7000P have lost money. Glad I didnt enter the market today at all