iCharts Discussions

[vinay28]

Here's one more chart showing likely lower levels if it reverses tmrw. Hopefully, fall will halt at 8606 before next upmove. One hint for a likely fall is RSI touching/crossing 57.62 intraday on daily chart without NS touching/crossing 8839.

[vinay28]

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

Nifty for Friday (13/02/14) and beyond

Supports are at about 8680, 8623, 8590, 8546 and 8520 while resistances are at about 8717, 8767, 8787, 8818 and 8912. Three +WWs can give about 8750 (if above 8489), 8838 (if above 8571) and 8911 (if above 8687) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8592 (if below 8752, which is yet to be reached) and 8582 (once below 8706) (-WWs with lower targets are not mentioned as of now).

Nifty rose sharply after initial fall to close above 8700 and looks bullish. A close above 8809 may take it up further while a close below 8588, may mean more damage. Friday must close at least above 8662 for likely upmove next week. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully as we can see wild swings due to rising vix as expiry and budget approaches.

Important - Nifty is now in a very precarious situation. On a daily basis, if it doesn't touch/cross above 8839/8841 on Friday then RSI (presently 56.51) should not touch/cross above 57.62/64.05 resp. On a weekly basis, if it doesn't touch/cross above 8841 then RSI (presently 64.90) should not touch/cross above 63.85, which it has crossed above today. If any of the above happens, we may see a fall next week. In other words, Friday being last day of the week, if nifty doesn't touch/cross above these levels, it should fall so that RSI on daily/weekly is below 57.62/63.85 resp. to give hope to bulls for further upmove next week.

[asrtrade]

Looks like there was a significant spike in VIX towards the last 15 min. Does it imply anything- caution?

[vinay28]

[saurabhkurichh]

nice move in nifty in the past few days . Today's low could be the SL for positional trades


PS:- bugdet on 28 th feb, Saturday. The next trading day would show some very volatile moves

[vinay28]

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

Nifty for Monday (16/02/14) and beyond

Supports are at about 8785, 8749, 8715, 8693, 8623 and 8590 while resistances are at about 8842, 8879 and 8912. Two +WWs can give about 8867 and 8922 (if above 8683) (+WWs with higher targets are not mentioned as of now). Four -WWs can give about 8747 (if below 8832), 8733 (once below 8804), 8525 (once below 8725) and 8488 (once below 8666) (-WWs with lower targets are not mentioned as of now). A bullish flag can give higher level unless killed below 8680.

Nifty rose sharply again to close just above 8800 and continues to look very bullish. A close above 8809 may be the first hint of further rise. However, to begin, with it must touch/cross 8841 or else it will first go down. A close below 8661 may mean more fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully as we can see wild swings due to rising vix as expiry and budget approaches.

[vinay28]

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

Nifty for Wednesday (18/02/14) and beyond

Supports are at about 8778, 8747, 8699 and 8623 while resistances are at about 8825, 8856, 8901 and 8929. An unfilled gap on lower side is at about 8711. A +WW can give about 8935 (if above 8679) (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 8727, 8714 (if below 8845) and 8534 (once below 8750) (-WWs with lower targets are not mentioned as of now). A bullish flag can give higher level unless killed below 8680.

Nifty fell after a gap up open but managed to cross 8841 and also close barely above 8809 and kept hopes alive for more upmove. However, some more fall for consolidation is not ruled out before that. A close above 8952 may mean new high while a close below 8661 may mean more fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully as we can see wild swings due to rising vix as expiry and budget approach.

[vinay28]

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

Nifty for Friday (20/02/14) and beyond

Supports are at about 8887, 8867, 8848, 8822 and 8774 while resistances are at about 8919, 8929, 8942, 8987 and 9051. Two +WWs can give about 8962 and 9018 (+WWs with higher targets are not mentioned as of now). A -WW can give about 8777 (once below 8887) (-WWs with lower targets are not mentioned as of now). A bullish flag can give higher level unless killed below 8700. An IHnS can give about 9085 if nifty sustains above 8885.

Nifty rose sharply after a fall and closed just below 8900 and seems headed further up. Daily candle is a hanging man and there is a -ve div on lower tf and we may see a mild intraday reaction. A close above 8952 may take it to a new high though first hint will be a close above 8836 on Friday, an all time high weekly close. A close below 8808 may cause a big fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully as we can see wild swings due to rising vix as expiry and budget approach.

[AMBY]

THANKS.

[vinay28]

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

Nifty for Monday (23/02/14) and beyond

Supports are at about 8799, 8766, 8699 and 8623 while resistances are at about 8850, 8884, 8934 and 9051. Two +WWs can give about 8901/45 (if above 8831) (+WWs with higher targets are not mentioned as of now). Four -WWs can give about 8752 (if below 8903), 8745 (once below 8808), 8636 and 8455 (once below 8815) (-WWs with lower targets are not mentioned as of now). A bullish flag can give higher level unless killed below 8700. An IHnS can give about 9125 if nifty sustains above 8925. A right angled, ascending broadening formation can give about 9020/8745 upon BO/BD above/below about 8932/8794.

Nifty fell sharply and closed below 8850 and particularly below 8835, which may mean more fall. However, NF closed above 8845 and hence fall may not be much. Daily candle is an insider bar and hence it's bullish above 8914 and bearish below 8794. Weekly candle is a doji cum inverted hammer indicating uncertainty but weekly chart is still safe for bulls. A close above 8952 may take it to a new high while a close below 8808 may cause a big fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully as we can see wild swings due to rising vix as expiry and budget approach.

[NU2013]

[vinay28]

NU

Sensible decision by Sebi though FIIs may be reluctant to trade on holiday. It may prevent violent gap up/down open on Monday.

where did I say 9200 before budget? Not impossible though.

oh ya, realised too late about new thread and so continued.

My guess for march is 9400 if 8997 is crossed and 8400 if closes below 8793.

[PS Trader]

[vinay28]

As of Dec'14, FIIs hold 23% of our equity market and 47% of free float Vs. 15% and 36% in March '09. What will happen if budget is even slightly disappointing to them?

[vinay28]

My Monthly early warning radar. TL, RSI, CCI and Money Flow Index are showing early signs of possible weakness emerging in future but I feel there is still some room for higher highs. A few things to note w.r.t. two charts attached.

1. If nifty doesn't cross 8,997 by 28/02 but rsi remains above 77.26 on monthly, we may see a medium term fall.

2. Target of AT BO is about 9,400 and perhaps more (10,420?) since BO volume was more than 4 year average.

3. Robert C Miner's calculation gives likely highs of about 9110/9506/10145 as of now. Likely lowest level in case of a break down is about 8,215 as of now.

4. Monthly R1/R2 are at about 9,182/9,555 and Weekly R1/R2 at about 8929/9051, both till 28/02.