iCharts Discussions

[vinay28]

[vinay28]

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

Nifty for Thursday (02/06/16) and beyond

Supports are at about 8157/41/11 and 8009 while resistances are at about 8192, 8206/18/36/47, 8312 and 8359. Unfilled gaps on the higher/lower sides are at about 8233 and 8160/8069 resp. Two +WWs can give about 8256 (if above 8172) and 8347 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8130/7967 (if below 8212) (-WWs with lower targets are not mentioned as of now). An IHnS can give 8635 if nifty sustains above 8000.

Nifty opened up with a gap and remained in a tight range to close flat but well above 8150. Daily candle is gravestone doji but with good+ve volume and hence we may see some more fall but not a lot. Bearish div is becoming stronger and a major fall is possible only if sustained selling begins. Interesting aspect is that NF daily shows bearish div between last two candles but not NS and hence a freak trade is not ruled out. Nifty must close above 8296 to continue the rally while a close below 8156 can cause a fall again. Wednesday was a NR35 day and we may see a big move soon. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully, this being a long expiry and we could see high volatility.

[vinay28]

Updated NF levels as of 01/06.

[vinay28]

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

Nifty for Monday (06/06/16) and beyond

Supports are at about 8197/76/57 and 8071 while resistances are at about 8253/93 and 8359. Unfilled gaps on the higher/lower sides are at about 8233 and 8069 resp. Two +WWs can give about 8258 (if above 8202) and 8349 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8132 (if below 8214) and 8070 (if below 8222) (-WWs with lower targets are not mentioned as of now). An IHnS can give 8635 if nifty sustains above 8000.

Nifty opened up with a gap but fell to close well above 8200. Both daily and weekly candles are doji cum spinning top cum likely evening stars but with strong +ve volume and hence fall, if any, may be limited. Bearish div is becoming stronger but a major reaction is possible only if sustained selling begins. Last week was NR10 and we may see a big range next week. Nifty must close above 8296 to continue the rally while a close below 8160 can cause a fall again. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully, this being a long expiry and we could see high volatility.

[vinay28]

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

Nifty for Tuesday (07/06/16) and beyond

Supports are at about 8177/56/36/14, 8075/34 and 8014 while resistances are at about 8210/37/59/95, 8336 and 8359. Unfilled gaps on the higher/lower sides are at about 8300/8069 resp. A +WW can give about 8248 (if above 8198) (+WWs with higher targets are not mentioned as of now). A -WW can give about 8036 (if below 8222) (-WWs with lower targets are not mentioned as of now). An IHnS can give 8635 if nifty sustains above 8000.

Nifty opened up with a small gap but fell to close just above 8200. Bearish div, which is persisting, can give a major reaction only if sustained selling begins. Last two days have seen a narrow range and we may see a big range soon. Nifty must close above 8221 to begin with while a close below 8160 can cause a fall again. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully, Tuesday being the RBI policy review day and also since this is a long expiry and we could see high volatility.

[apka]

some Indradhanush-II reforms for Banks are being mulled by the govt that may affect banking stocks, particularly PSBs.

[vinay28]

[apka]

[vinay28]

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

Nifty for Wednesday (08/06/16) and beyond

Supports are at about 8256/21/03, 8178/46, 8075 and 8014 while resistances are at about 8280, 8305/25/41 and 8368. Unfilled gaps on the higher/lower sides are at about 8373/8201 resp. (+WWs with higher targets are not mentioned as of now). A -WW can give about 8010 (if below 8227) (-WWs with lower targets are not mentioned as of now). An IHnS can give 8635 if nifty sustains above 8000.

Nifty opened gap up, fell a bit but recovered to close well above 8250, highest close since 25/10/15. Daily candle is a doji cum spinning top cum likely evening star, latter to be confirmed by a red candle on Wednesday, preferably after a gap down open. Bearish div, which is persisting, can give a major reaction only if sustained selling begins. Nifty is close to an important level of 8337 from which a major fall took place from last Oct and we could see some jitters. Nifty must close above 8296 while a close below 8201 can cause a fall again. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully this being a long expiry and we could see high volatility.

[vinay28]

Bearish harami with hidden bearish div forming. gets killed if 8295 and then 8337 is touched. otherwise fast and furious fall can come.

[vinay28]

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

Nifty for Thursday (09/06/16) and beyond

Supports are at about 8257/38/24/03, 8183/59/46 and 8014 while resistances are at about 8294, 8311/21/37 and 8359. Unfilled gaps on the higher/lower sides are at about 8373/8201 resp. (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8176 (if below 8247) and 7982 (if below 8231) (-WWs with lower targets are not mentioned as of now). A ascending, broadening wedge can give about 8120 upon break down below 8215. An IHnS can give 8635 if nifty sustains above 8000.

Nifty opened gap up and remained in a very narrow range to close well above 8250. Daily candle is once again a spinning top cum bearish harami (though high price) cum likely evening star, latter to be confirmed by a red candle on Thursday, preferably after a gap down open. There is also a hidden bearish div between last two candles and we may see a sharp fall. Wednesday was a NR140 day and we may see big moves soon. Nifty is also close to an important level of 8337 from which a major fall took place last Oct and we could see some jitters. Nifty must close above 8296 while a close below 8201 can cause a fall again. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully this being a long expiry and we could see high volatility.

[vinay28]

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

Nifty for Friday (10/06/16) and beyond

Supports are at about 8185/65/46/29/15, 8075 and 8014 while resistances are at about 8224/41/59/80, 8312/25/36 and 8359. Unfilled gaps on the higher/lower sides are at about 8373/8069 resp. A +WW can give about 8258 (if above 8214) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8164 (if below 8239) and 7952 (if below 8228) (-WWs with lower targets are not mentioned as of now). An ascending, broadening wedge can give about 8105 upon break down below 8185. An IHnS can give 8635 if nifty sustains above 8000.

Nifty opened flat and fell to close just above 8200 and seemed to confirm Wednesday's evening star. However, volume wasn't strong -ve and we may see some recovery after some more fall. The hidden bearish div on longer period can give results if sustained selling begins. Nifty must close above 8296 while a close below 8201 on daily basis and below 8220 on weekly basis can cause more fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully this being a long expiry and we could see high volatility.

[vinay28]

Updated NF levels as of 10/06.

[vinay28]

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

Nifty for Monday (13/06/16) and beyond

Supports are at about 8155/30, 8090/61/14/03 and 7985 while resistances are at about 8197, 8213/41/68, 8346 and 8359. Unfilled gaps on the higher/lower sides are at about 8373/8069 resp. A +WW can give about 8300 (if above 8175) (+WWs with higher targets are not mentioned as of now). A -WW can give about 7923 (if below 8223) (-WWs with lower targets are not mentioned as of now). An ascending, broadening wedge can give about 8100 once below 8190. An IHnS can give 8635 if nifty sustains above 8000. A HnS can give 8115 once below 8175.

Nifty opened gap down, rose sharply but tanked later to close -ve and well below 8200. Daily candle is an inverted hammer while weekly candle is bearish. Both daily and weekly volumes were good -ve and we may see some more fall. The hidden bearish div on longer period can give major fall if sustained selling begins. Nifty must close above 8274 while a close below 8160 can cause more fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully this being a long expiry and we could see high volatility.

[vinay28]

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

Nifty for Tuesday (14/06/16) and beyond

Supports are at about 8097/72/36/14/01, 7967 and 7926 while resistances are at about 8127/39/71, 8212/37 and 8259. Unfilled gaps on the higher/lower sides are at about 8171/7934 resp. A +WW can give about 8198 (if above 8151) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8058 (if below 8115) and 7886 (if below 8224) (-WWs with lower targets are not mentioned as of now). An IHnS can give 8635 if nifty sustains above 8000.

Nifty opened down with a big gap, fell further but recovered to close flat and above 8100. Daily candle is a hammer but with -ve volume and we may see some more fall. The hidden bearish div on longer period can give major fall if sustained selling continues. Nifty must close above 8274 while a close below 8069 can cause more fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully this being a long expiry and we could see high volatility.