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 (22/01/16) and beyond

Supports are at about 7254, 7224, 7215 and 7157 while resistances are at about 7313/28/54/70/77, 7400/60 and 7493. Unfilled gaps on higher/lower sides are at about 7741/7229 resp. A +WW can give about 7500 (if above 7254) (+WWs with higher targets are not mentioned as of now). (-WWs with lower targets are not mentioned as of now). A falling wedge can give about 7600 upon break out above 7345.

Nifty fell sharply after a big gap up open and closed below 7300 again. There seems no end to the fall. Daily candle is an inside bar. So breaking below 7250/7241 will cause a slide while above 7399/7471, we will see a sharp rally. The +ve and bullish div are strong and prices mouth watering but only persistent buying can cause substantial recovery. Otherwise the slide will continue. Nifty has to close above 7559 to begin with while a close below 7229 can be bad in short term. 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 (25/01/16) and beyond

Supports are at about 7391/71/53/14/00 and 7286/78 while resistances are at about 7439/64/93, 7503/13 and 7559. Unfilled gaps on higher/lower sides are at about 7741/7229 resp. Two +WWs can give about 7513 and 7624 (if above 7374) (+WWs with higher targets are not mentioned as of now). (-WWs with lower targets are not mentioned as of now). A falling wedge can give about 7600 upon break out above 7345.

Nifty rose sharply in spite of a huge gap up open and closed well above 7400, a quick result of fresh bullish div developed again in previous two days. Weekly candle is a long legged doji cum likely morning star and further rise is possible. Sustaining below 7241 can cause a slide while sustaining above 7471 can cause further rise. The bullish div sustains and prices are mouth watering but only persistent buying can cause substantial recovery. Nifty has to close above 7559 to begin with while a close below 7229 can be bad in short term. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully in view of a truncated 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 (27/01/16) and beyond

Supports are at about 7406, 7384/68 and 7283 while resistances are at about 7451/70/94, 7500/18/34/56/72, 7611 and 7643. Unfilled gaps on higher/lower sides are at about 7741/7276 resp. Three +WWs can give about 7523, 7626 (if above 7369) and 7664 (if above 7523) (+WWs with higher targets are not mentioned as of now). A -WW can give about 7406 (if below 7500) (-WWs with lower targets are not mentioned as of now). A falling wedge can give about 7600 upon break out above 7345.

Nifty fell after a gap up open but managed to close well above 7400 and above close on 19/01. Nifty has to close above 7569 to begin with while a close below 7351 can be bad in short term. Monday was a NR11 day and we may see a big move on Wednesday. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully in view of a truncated 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 (28/01/16) and beyond

Supports are at about 7409, 7395/84/75 and 7301 while resistances are at about 7448/74, 7506/22/45/55/82 and 7643. Unfilled gaps on higher/lower sides are at about 7741/7276 resp. Two +WWs can give about 7532 and 7630 (if above 7363) (+WWs with higher targets are not mentioned as of now). A -WW can give about 7395 (if below 7504) (-WWs with lower targets are not mentioned as of now). A falling wedge can give about 7600 if nifty continues to go up.

Nifty fell after a gap up open again and closed well above 7400. Both volume and money flow are +ve and there is a mild +ve div. Hence, we may see further upmove. Nifty has to close above 7569 to begin with while a close below 7351 can be bad in short term. Wednesday was a NR12 day and we may see a big move on Thursday. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully it being an expiry day.

[vinay28]

Updated NF levels as of 27/01.

[AjitS]

Vinay,
Appreciate if you can clarify a doubt regarding counting NR days:
When we say today was NR12 day, is it because NIFTY range today was least of last 12 days or is it because it was max of last 12 days?

[vinay28]

[AjitS]

Thanks Vinay.

[pkholla]

Vinay: Today is F&O close for Jan 2016! Then why is NF behaving as if drowned in Che%%ai flood? Low volumes, total lack of interest.
Almost looks like copy of Diwali muhurat trading = trading for 'naam ka vaste'
Any explanation, will it pick up by Europe market open time?
Prakash Holla
Update @ 1500: Only 15-18 pts between NF-1m and -2m. Can you remember any month where gap so low? Are biggies making it easy to roll over, for THEMSELVES?

[vinay28]

[amitagg]

[vinay28]

Updated NF levels as of 15/02.

[vinay28]

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

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

Supports are at about 7131/18, 7083/32/05 and 6970 while resistances are at about 7180, 7216/63 and 7290. Unfilled gaps on higher and lower sides are at about 7216 and 6980 resp. A +WW can give about 7263 (if above 7156) (+WWs with higher targets are not mentioned as of now). A -WW can give about 6800 (if below 7083) (-WWs with lower targets are not mentioned as of now).

Nifty rose sharply in spite of a big gap up open and close below 7200. Though daily candle is like a bullish Marubuzo, volume is not relatively strong. Also, weekly candle was bearish with strong -ve volume. So any further upmove may last only for 1-2 days. Nifty must close above 7277 to begin with. Global and local eco-political events can have a bearing on how nifty moves in short term.

[AjitS]

Vinay,

If you have missed it - you have started commenting in Jan thread again.
Maybe, you want to revert back to Feb thread.

[Niftyman]