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 (22/07/16) and beyond

Supports are at about 8488/72/48/29/03 and 8373 while resistances are at about 8536/58/84, 8618 and 8635. Unfilled gaps on the higher/lower side are at about 8707/8467. Three +WWs can give about 8564 (if above 8519), 8580 (if above 8541) and 8619 (if above 8476) (+WWs with higher targets are not mentioned as of now). Four -WWs can give about 8440 (if below 8526), 8339 (if below 8539) and 8282 (if below 8587) (-WWs with lower targets are not mentioned as of now). An IHnS can give 8635 if nifty remains above 8000. A rising wedge can give about 8320 if nifty breaks and sustains below 8525.

Nifty opened up with a small gap but fell to close -ve and above 8500. Daily candle is bearish engulfing marubuzo with strong -ve volume and we may see more fall. Nifty must close above 8566 on daily basis and above 8542 on weekly basis to begin with while a close below 8508/8467 may cause some fall. A big move is imminent. Global and local eco-political events can have a bearing on how nifty moves in short term.

[riteshucha]

thanks vinay,

[vinay28]

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

Nifty for Monday (22/07/16) and beyond

Supports are at about 8531/24/06, 8498/79/65/31/06 and 8392 while resistances are at about 8558/67/81/89, 8616 and 8659. Unfilled gaps on the higher/lower side are at about 8707/8467. Three +WWs can give about 8572 (if above 8509), 8595 (if above 8538) and 8621 (if above 8474) (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 8453 (if below 8541), 8337 (if below 8541) and 8282 (if below 8481) (-WWs with lower targets are not mentioned as of now). An IHnS can give 8635 if nifty remains above 8000. A rising wedge can give about 8320 if nifty breaks and sustains below 8525.

Nifty opened up with a small gap and rose to close +ve and below 8550. Daily volume is good +ve and there is a +ve div and we may see further rise. However, weekly candle is like a spinning top and a hanging man with strong -ve volume and -ve div. Hence, eventually we may see more fall. Nifty must close above 8566 to begin with while a close below 8508 can start fresh fall. Weekly candle is NR29 and a very big move is imminent. Global and local eco-political events can have a bearing on how nifty moves in short term.

[katariajs]

[doctorshah]

Update plz

[apka]

Incidentally with the rise Nifty has crossed it's 52 week high

[vinay28]

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

Nifty for Wednesday (27/07/16) and beyond

Supports are at about 8571/57/32/0, 8480/46/22 and 8368 while resistances are at about 8607/34/49/75 and 8731. Unfilled gaps on the higher/lower side are at about 8707/8467. (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 8564, 8371 (if below 8565) and 8282 (if below 8491) (-WWs with lower targets are not mentioned as of now). A rising wedge can give about 8160 if nifty breaks and sustains below 8574.

Nifty opened flattish, rose a bit before falling sharply late in the day to close -ve and below 8600. Daily volume is strong -ve and we may see further fall. Nifty must close above 8636 to continue the rally while a close below 8508 can start fresh fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully expiry being two days away.

[vinay28]

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

Nifty for Thursday (28/07/16) and beyond

Supports are at about 8586/32/20/14, 8497/80/66/49/22 and 8408 while resistances are at about 8621/48/66/74/81/91, 8704 and 8761. Unfilled gaps on the higher/lower side are at about 8707/8467. A +WW can give about 8687 (if above 8564) (+WWs with higher targets are not mentioned as of now). Four -WWs can give about 8557 (if below 8597), 8468 (if below 8633) and 8435/8335 (if below 8571) (-WWs with lower targets are not mentioned as of now). A rising wedge can give about 8160 if nifty breaks and sustains below 8574.

Nifty opened flattish, made a higher high and fell sharply. But it recovered a bit to close above 8600. Daily candle is bullish engulfing but a doji and like an inverted hammer but volume was strong +ve and we may see volatility. Nifty must close above 8636 to continue the rally while a close below 8508 can start fresh fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully being an expiry day.

[amitagg]

[vinay28]

[manojkr78]

26/7 high is 8645 buy why 8674??

[vinay28]

[vinay28]

[manojkr78]

Since Highs are broken so is it considered breakout???

[vinay28]