iCharts Discussions

[pkholla]

[vinay28]

[Niftyman]

[Niftyman]

[vinay28]

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

Nifty for Wednesday (15/03/17) and beyond

Supports are at about 9050/10, 8970/59/44 and 8919 while resistances are at about 9098, 9129/39/60/98 and 9250. Unfilled gap on lower side is at about 8934. A +WW can give about 9264 (+WWs with higher targets are not mentioned as of now). A -WW can give about 8800 (if below 9066) (-WWs with lower targets are not mentioned as of now).

Nifty opened up with a huge gap, made a new all time high, albeit just marginally, before reacting to close mildly -ve below 9100, at a new all time high close by a wide margin. However, it gave an impression of rejection from a new high, like a double top, but a consistent confirmation is required for it. Daily candle is again a doji cum likely evening star, to be confirmed by a red candle tmrw, preferably after a gap down open. Daily volume is very strong +ve and higher levels due to momentum are likely. But, in spite of such a huge gap up, -ve div persists on daily chart.

Nifty must close below 8963 for further fall. Global and local eco-geo-political events and liquidity can have a bearing on how nifty moves in short term. This being a long expiry, expect volatility. Trade carefully, important FED meet being due soon.

[vinay28]

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

Nifty for Wednesday (15/03/17) and beyond

Supports are at about 9050/10, 8970/59/44 and 8919 while resistances are at about 9098, 9129/39/60/98 and 9250. Unfilled gap on lower side is at about 8934. A +WW can give about 9264 (+WWs with higher targets are not mentioned as of now). A -WW can give about 8800 (if below 9066) (-WWs with lower targets are not mentioned as of now).

Nifty opened up with a huge gap, made a new all time high, albeit just marginally, before reacting to close mildly -ve below 9100, at a new all time high close by a wide margin. However, it gave an impression of rejection from a new high, like a double top, but a consistent confirmation is required for it. Daily candle is again a doji cum likely evening star, to be confirmed by a red candle tmrw, preferably after a gap down open. Daily volume is very strong +ve and higher levels due to momentum are likely. But, in spite of such a huge gap up, -ve div persists on daily chart.

Nifty must close below 8963 for further fall. Global and local eco-geo-political events and liquidity can have a bearing on how nifty moves in short term. This being a long expiry, expect volatility. Trade carefully, important FED meet being due soon.

[vinay28]

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

Nifty for Thursday (16/03/17) and beyond

Supports are at about 9069/50/24/10, 8970/43 and 8925 while resistances are at about 9095, 9110/27/46/59 and 9250. Unfilled gap on lower side is at about 8934. Two +WWs can give about 9148/9260 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 9032 (if below 9113) and 8797 (if below 9062) (-WWs with lower targets are not mentioned as of now).

Nifty opened flat and remained in a very narrow range to close mildly -ve below 9100. If it was a double top on Tuesday, a consistent confirmation is required for it. Daily candle is again a doji cum inside bar. Hence, it's bullish/bearish if nifty sustains above/below 9123/9060 resp. However, daily volume is very strong -ve and -ve div persists on daily chart. Wednesday was a NR146 day and we may see a big move soon. Nifty must close below 8963 for further fall. Global and local eco-geo-political events and liquidity can have a bearing on how nifty moves in short term. This being a long expiry, expect volatility.

[doctorshah]

P K Holla bro, Many a times previously u suggested to empty your trash when markets at high. I would like to know how much u were successful in doing so?

[pkholla]

[vinay28]

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

Nifty for Friday (17/03/17) and beyond

Supports are at about 9140/27/10, 9099/85/55/45 and 9010 while resistances are at about 9162/73/85 and 9255. Unfilled gap on lower side is at about 9084 but the weekly gap is at about 8934. A +WW can give about 9273 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 9115 (if below 9149) and 9014 (if below 9133) (-WWs with lower targets are not mentioned as of now).

Nifty opened up with a gap and rose to make a new all time high and closed +ve above 9150 at a new all time high. Daily volume is very strong +ve and higher levels look possible. Thursday was a NR148 day and we may see a big move soon. Nifty must close below 9084 to start fall. Global and local eco-geo-political events and liquidity can have a bearing on how nifty moves in short term. This being a long expiry, expect volatility.

[vinay28]

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

Nifty for Monday (20/03/17) and beyond

Supports are at about 9142/25/15/00, 9095/65/53 and 9010 while resistances are at about 9173/83/92, 9210/55 and 9290. Unfilled gap on lower side is at about 9084 but the weekly gap is at about 8934. Two +WWs can give about 9207 (if above 9144) and 9275 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 9098 (if below 9151) and 8976 (if below 9143) (-WWs with lower targets are not mentioned as of now). A small HnS can give about 9115 if nifty sustains below 9155.

Nifty opened up with a big gap, made a new all time high before falling to close -ve but above 9150 and at a new all time high. Daily volume is very strong +ve while weekly volume is strong +ve. Nifty is oversold but further fall, if any, may be limited. If Nifty closes below 9084, it can cause more fall. Global and local eco-geo-political events and liquidity can have a bearing on how nifty moves in short term.

[riteshucha]

hi vinay,
you have said 9255 and 9290 as resistance.. how do u derive these numbers when we are trading at all time highs... in this based on fibo or something else..??

[vinay28]

[vinay28]

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

Nifty for Tuesday (21/03/17) and beyond

Supports are at about 9111, 9092/77/65/50/33, 8998 and 8980 while resistances are at about 9144/55/65/87, 9201/15/53 and 9267. Unfilled gap on lower side is at about 9084 but the weekly gap is at about 8934. Two +WWs can give about 9209 (if above 9142) and 9287 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 9079 (if below 9138) and 8974 (if below 9145) (-WWs with lower targets are not mentioned as of now).

Nifty opened flattish and fell to close -ve but above 9100. Daily volume is very strong -ve and lower levels are likely. However, weekly candle and volume were bullish and further fall, if any, may be limited. Nifty must close above 9154 to begin with while a close below 9087 can cause more fall. Global and local eco-geo-political events and liquidity can have a bearing on how nifty moves in short term.

[doctorshah]