iCharts Discussions

[vinay28]

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

Nifty for Monday (01/01/16) and beyond

Supports are at about 7933/26/19/08, 7899/90/82, 7861 and 7842 while resistances are at about 7969, 7986/96, 8007, 8057, 8074 and 8103. Unfilled gaps on higher/ lower sides are at about 8041/7861. 50/100 dma are at about 7908/7987 resp. Four +WWs can give about 7979 and 8026/42/62 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7888 (if below 7949) and 7647 (if below 7882) (-WWs with lower targets are not mentioned as of now). A rising wedge can give about 7815/7740 in case nifty sustains below 7915.

Nifty rose after a flat open and closed just below 7950 and again above 50 dma. The mild bearish div continues and gets killed only at/above 7980 to begin with. Monthly candle is a hammer with +ve div and we may see some more rise. For upward momentum to continue, a close above 7955 on daily basis and above 7943 on weekly basis is required while a close below 7861 can start a fall again. Yearly candle is a doji and like an inverted hammer and hence it is doubtful how long this rally will continue. Global and local eco-political events can have a bearing on how nifty moves in short term.

[ninjadude]

BELATED MERRY CHRISTMAS AND A HAPPY , PROSPEROUS NEW TRADING YEAR 2016 TO ALL THE TRADERS HERE

[vinay28]

[vinay28]

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

Nifty for Monday (04/01/16) and beyond

Supports are at about 7944/34/19, 7890 and 7883 while resistances are at about 7986/93, 8009/14, 8073, 8103 and 8172. Unfilled gaps on higher/ lower sides are at about 8041/7861. 50/100 dma are at about 7902/7981 resp. Four +WWs can give about 7983 and 8028/44/68 (+WWs with higher targets are not mentioned as of now). A -WW can give about 7886 (if below 7947) (-WWs with lower targets are not mentioned as of now). A rising wedge can give about 7830/7740 in case nifty sustains below 7930.

Nifty rose again after a flattish open and closed above 7950. There is a mild -ve div on lower TF and we may see a mild reaction. The mild bearish div continues and gets killed only at/above 7980 to begin with. Weekly candle is good with strong +ve volume and monthly candle was a hammer with +ve div and hence any fall may be small and we may see higher levels eventually provided 7980 is touched/crossed. For upward momentum to continue, a close above 8051 is required while a close below 7896/61 can start a fall again. Yearly candle was a doji and like an inverted hammer and hence how long this rally will continue is doubtful. Global and local eco-political events can have a bearing on how nifty moves in short term.

[NU2013]

Wishing everyone a very happy and prosperous new year!! May the trading profits be much higher than 2015!! (Sell in May, and go away!!)

Vinay bhai,

What do you make of this new Marginal Cost based lending rate system for Banks, mandated by the RBI??

Banks earnings are sure to drop, since interest rates generally are expected to come down. Even though companies benefit due to this, the banks which are already under stress because of NPA's will suffer when this system is implemented in April'16. I think banks will take at least 2-3 quarters till the full impact is clear. This is believe will be a crucial in 2016, along with USA elections.

Any thoughts on this?? Pl share!!

[vinay28]

[vinay28]

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

Nifty for Tuesday (05/01/16) and beyond

Supports are at about 7762/33/07, 7693/69 and 7627 while resistances are at about 7813/29/40 and 7895. Unfilled gaps on higher/ lower sides are at about 7963/7700. A +WW can give about 7842 (if above 7807) (+WWs with higher targets are not mentioned as of now). A -WW can give about 7634 (-WWs with lower targets are not mentioned as of now). A rising wedge can give about 7740.

Nifty tanked on global clues and closed below 7800 thereby giving first target of rising wedge breakdown. Daily candle is a huge bearish Marubuzo. However, volume is not commensurate with the range. Also, there is now a mild bullish div which gets killed below 7715 and then 7625. Hence any further fall may be limited. Nifty now has to close above 7896 for further rise while a close below 7761 can cause more fall. 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 Wednesday (06/01/16) and beyond

Supports are at about 7771/63/52/39/22/13, 7693/69/58 and 7612 while resistances are at about 7796, 7811/29/36/64/96 and 7936/46. Unfilled gaps on higher/lower sides are at about 7963/7700. Three +WWs can give about 7817 (if above 7760), 7842 (if above 7802) and 7884 (if above 7776) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7736 and 7626 (-WWs with lower targets are not mentioned as of now). A rising wedge break down can give about 7750.

Nifty fell after a gap up open and closed -ve below 7800. The mild bullish div persists and gets killed below 7715 and then 7625. Hence any further fall may be limited. Nifty now has to close above 7896 for further rise while a close below 7761 can cause more fall. Global and local eco-political events can have a bearing on how nifty moves in short term.

[vinay28]

Updated NF levels as of 06/01.

[vinay28]

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

Nifty for Thursday (07/01/16) and beyond

Supports are at about 7722/19/03, 7692 and 7669 while resistances are at about 7758/73/91, 7829/37 and 7896. Unfilled gaps on higher/lower sides are at about 7964/7700. Three +WWs can give about 7820 (if above 7758), 7844 (if above 7800) and 7886 (if above 7774) (+WWs with higher targets are not mentioned as of now). A -WW can give about 7617 (-WWs with lower targets are not mentioned as of now). A HnS can give about 7390 if nifty sustains below 7737.

Nifty fell again and closed -ve below 7750. There is +ve div on lower TF and the mild bullish div persists though it gets killed below 7715 and then 7625. Hence, any further fall may be limited. Nifty now has to close above 7792/7845 for further rise while a close below 7683/7612 can bring pain. 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 Friday (08/01/16) and beyond

Supports are at about 7552/22, 7479/22 and 7394 while resistances are at about 7584, 7603/46/64/75 and 7721. Unfilled gaps on higher/lower sides are at about 7741 and 7526/7454 resp. Two +WWs can give about 7608 (if above 7578) and 7639 (if above 7610) (+WWs with higher targets are not mentioned as of now). (-WWs with lower targets are not mentioned as of now). A HnS can give about 7390 if nifty sustains below 7737.

Nifty tanked in spite of a big gap down open and closed above 7550. The bullish div is getting stronger but can give results only if persistent buying emerges. Nifty now has to close above 7762 to begin with while a close below 7558 can bring pain. 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 (11/01/16) and beyond

Supports are at about 7582/74/49 and 7394 while resistances are at about 7609/25/33/45/62/75/90, 7738 and 7767. Unfilled gaps on higher/lower sides are at about 7741 and 7526/7454 resp. Two +WWs can give about 7639 (if above 7551) and 7753 (if above 7574) (+WWs with higher targets are not mentioned as of now). (-WWs with lower targets are not mentioned as of now). A HnS can give about 7390 if nifty sustains below 7737.

Nifty remained in a small range after a gap up open and closed -ve but just above 7600. Daily candle is a Harami but is not really bullish since (a) both today's and yesterday's candles are Red and today's close is well below middle of yesterday's candle. Also, weekly candle is bad and we may see some more fall. However, bulls will have hope from the fact that daily candle is like a Harami star with strong +ve volume. Also, Friday was a NR8 day and we may see a big move in next few days.

In addition, the bullish div is getting stronger though it can give results only if persistent buying emerges. What's more, RSI 5 is well below 30 on monthly chart and nifty has always rose by a huge margin in the past when this happened. Nifty now has to close above 7762 to begin with while a close below 7558 can bring pain. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully due to corporate results season.

[manojkr78]

Vinay,

Monthly charts RSI is around 36 please confirm......or post the monthly chart please....

[girishhu1]

here is nifty monthly
regards
girish

[vinay28]