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 (27/02/17) and beyond

Supports are at about 8910/00, 8885/71/59/47/27/18, 8788 and 8770 while resistances are at about 8955/80/93, 9000 and 9010. Unfilled gap on lower side is at about 8926. A +WW can give 9022 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8826/8790 (if below 8980) (-WWs with lower targets are not mentioned as of now). A rising wedge can give about 8820/8720 if nifty sustains below 8945.

Nifty opened gap up, made a new 52 week high but fell to close mildly -ve above 8900 but not at 52 week high. However, the (truncated) week closed at a new 52 week high. Daily candle is like a shooting star cum spinning top and a likely evening star, to be confirmed by a red candle, preferably with a gap down open. There is also a -ve div on weekly and volume not commensurate with range. Nifty must close above 8953 to continue the rally while a close below 8879/66 can start a fall. Three NR days in a row may give a big move soon. 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 Tuesday (28/02/17) and beyond

Supports are at about 8876/65/40/30, 8795/61 and 8738 while resistances are at about 8955/80/93, 9000 and 9010. Unfilled gap on lower side is at about 8778. A +WW can give 9022 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8824/8788 (if below 8980) (-WWs with lower targets are not mentioned as of now). A rising wedge can give about 8820/8720 if nifty sustains below 8945.

Nifty opened up with a slight gap and fell to make a lower low than last two days and closed -ve below 8900 and seems to have confirmed the evening star. Daily volume is good -ve and we may see lower levels. Nifty must close above 8953 to continue the rally while a close below 8879/66 can cause more 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 Wednesday (01/03/17) and beyond

Supports are at about 8863/50/30, 8790/80 and 8740 while resistances are at about 8895, 8900/20/40, 9020 and 9070. Unfilled gap on lower side is at about 8778. Two +WWs can give 8921 (if above 8881) and 9022 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8785 (if below 8900) and 8706 (if below 8842) (-WWs with lower targets are not mentioned as of now). A rising wedge can give about 8820/8720 if nifty sustains below 8945.

Nifty opened up with a slight gap and fell again to make a lower low and closed -ve below 8900. Monthly close was second highest ever. Daily volume is strong -ve and we may see lower levels. Monthly candle is strong bullish and so is volume though there is mild -ve div. Hence, further fall, if any, may not be major. Nifty must close above 8940 to begin with while a close below 8805 can cause more fall. Tuesday was a NR15 candle and we may see a big move soon. 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 Thursday (02/03/17) and beyond

Supports are at about 8930/07/00, 8888/62/30, 8790 and 8776 while resistances are at about 8983, 9005/20/70 and 9090. Unfilled gap on lower side is at about 8879. Two +WWs can give 9001/55 (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 8914 (if below 8950), 8805 (if below 8973) and 8770 (if below 8900) (-WWs with lower targets are not mentioned as of now). A rising wedge can give about 8820/8720 if nifty breaks and sustains below 8945.

Nifty opened gap up rose to close +ve above 8900. Daily volume is average +ve and we may see higher levels. Nifty must close above 8953/97 to continue the rally while a close below 8879 can cause more 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 Friday (03/03/17) and beyond

Supports are at about 8870/60/46/30/00, 8790/70/44 and 8730 while resistances are at about 8901/16/30/44/65/87/98, 9020 and 9030. Unfilled gap on lower side is at about 8879. Two +WWs can give 9003/35 (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 8801/8753 (if below 8898) and 8710 (if below 8843) (-WWs with lower targets are not mentioned as of now). A rising wedge can give about 8820/8720 if nifty breaks and sustains below 8945.

Nifty opened gap up, made a new 52 week high and tanked to close strongly -ve below 8900. Daily candle is bearish engulfing with good -ve volume and -ve div. Hence, we may see lower levels. Nifty must close above 8946 to begin with while a close below 8879 can cause more 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.

[ca.krishna]

Hi Vinay,

Thanks for your regular updates...would like to understand which are all the events mentioned by you as below:

Global and local eco-geo-political events

[vinay28]

[vinay28]

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

Nifty for Monday (06/03/17) and beyond

Supports are at about 8880/60/35, 8790/67/50 and 8738 while resistances are at about 8916/25/45/67/87, 9001 and 9070. Unfilled gap on lower side is at about 8879. A +WW can give 8925(+WWs with higher targets are not mentioned as of now). Three -WWs can give about 8867, 8838 (if below 8901) and 8800 (if below 8895) (-WWs with lower targets are not mentioned as of now). A rising wedge can give about 8820/8720 if nifty breaks and sustains below 8945.

Nifty opened gap down, made a lower low and then rose to close mildly +ve but below 8900 and below last close. Daily candle is like a hammer while weekly candle is milder than bearish piercing. Both daily and weekly volumes are strong -ve and there is -ve div on weekly. Hence, it looks like a sell on rise nifty and further lower levels are likely. Nifty must close above 8946 to begin with while a close below 8879 can cause more fall. Friday was a NR15 day and we may see big move soon. 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 Tuesday (07/03/17) and beyond

Supports are at about 8940/20/10/02, 8891/72/52/30 and 8790 while resistances are at about 8980/91, 9004/14/55 and 9070. Unfilled gap on lower side is at about 8897. (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 8909 (if below 8971), 8857 (if below 8994) and 8725 (if below 8902) (-WWs with lower targets are not mentioned as of now). A rising wedge can give about 8820/8720 if nifty breaks and sustains below 8945.

Nifty opened gap up and rose to close above 8950, second highest close of all time. Daily volume is not commensurate with range and there is bearish div which gets nullified at 8993. Hence, it looks like a sell on rise nifty and further lower levels are likely. Nifty must close above all time high close of 8997 while a close below 8879 can start fresh 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.

[Niftyman]

still sticking with his -ve divergence

[vinay28]

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

Nifty for Wednesday (08/03/17) and beyond

Supports are at about 8933/20/10/00, 8880/50/27, 8790 and 8775 while resistances are at about 8960/77/83, 9005/11/36/55 and 9070. Unfilled gap on lower side is at about 8897. Two +WWs can give about 8975/95 (if above 8930) (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 8893 (if below 8976), 8855 (if below 8994) and 8707 (if below 8908) (-WWs with lower targets are not mentioned as of now). A rising wedge can give about 8820/8720 if nifty breaks and sustains below 8945.

Nifty opened gap up and fell to close -ve below 8950. Daily candle is bearish thrusting but with strong -ve volume and -ve div. Also, the bearish div continues, which gets nullified at 8993. Hence, lower levels are likely. Nifty must close above all time high close of 8997 while a close below 8945 can start fresh fall. Tuesday was a NR 20 day and we may see a big move soon. 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 Thursday (09/03/17) and beyond

Supports are at about 8914/07, 8884/50/32/22, 8790/77 and 8757 while resistances are at about 8938/64/80/95, 9009/28 and 9055. Unfilled gap on lower side is at about 8778. Two +WWs can give about 8987/9016 (if above 8931) (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 8860 (if below 8980), 8754 and 8691 (if below 8903) (-WWs with lower targets are not mentioned as of now). A rising wedge can give about 8820/8715 if nifty breaks and sustains below 8950. A diamond break out/down can give about 9040/8850 if nifty sustains above/below 8948 resp.

Nifty opened flat and fell to close -ve below 8950. Daily volume is strong -ve and lower levels are likely. Nifty must close above 8964 to begin with while a close below 8879 can cause more 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 election results 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 Friday (10/03/17) and beyond

Supports are at about 8915/04, 8884/70/46/32, 8790 and 8775 while resistances are at about 8955/80, 9055 and 90705. Unfilled gap on lower side is at about 8778. Two +WWs can give about 9012/9044 (if above 8929) (+WWs with higher targets are not mentioned as of now). Four -WWs can give about 8832 (if below 8904), 8796 (if below 8896), 8750 and 8706 (if below 8850) (-WWs with lower targets are not mentioned as of now). A rising wedge can give about 8820/8715 if nifty sustains below 8950. A diamond break out/down can give about 9040/8850 if nifty sustains above/below 8948 resp.

Nifty opened down with a small gap and remained in a small range to close +ve but below 8950. Daily candle is a doji with strong +ve volume. Nifty must close above 8964 to continue the rally while a close below 8879 can cause more 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 election results 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 Tuesday (14/03/17) and beyond

Supports are at about 8921/08, 8895/80/60/05, 8790 and 8746 while resistances are at about 8945/52/80, 9003/20/45/70/80 and 9106. Unfilled gap on lower side is at about 8778. Two +WWs can give about 9032/9075 (if above 8925) (+WWs with higher targets are not mentioned as of now). Four -WWs can give about 8830/8659 (if below 8906), 8811 (if below 8980) and 8754 (-WWs with lower targets are not mentioned as of now). A rising wedge can give about 8825/8720 if nifty sustains below 8955. A diamond break out/down can give about 9040/8850 if nifty sustains above/below 8948 resp. An AT can give about 9060 if nifty sustains above 8976.

Nifty opened gap up, made a higher high but couldn't sustain and fell to close -ve below 8950. Daily candle is again a doji with average +ve volume. Weekly candle is like an inverted hammer and also an inside bar with strong +ve volume. Thus it's bullish/bearish if nifty sustains above/below 8993/8860 resp. But there is bearish div on weekly which gets negated at 8993. Weekly was a NR121 candle (narrowest in 28 months) and we may see big move soon.

Nifty must close above 8964 to continue the rally while a close below 8879 can cause more 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 election results being due soon.

[Niftyman]