iCharts Discussions

[vinay28]

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

Nifty for Tuesday (08/03/16) and beyond

Supports are at about 7475/67/42/14 and 7360 while resistances are at about 7513/43/94 and 7620. Unfilled gaps on higher and lower sides are at about 7741 and 7368 resp. Two +WWs can give about 7618/36 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7439 (if below 7506) and 7222 (if below 7465) (-WWs with lower targets are not mentioned as of now).

Nifty opened gap up again and remained in a small range before closing a bit -ve but well above 7450. Daily candle is a hanging man but with strong +ve volume. There is also a mild bearish div and we may see some reaction soon. However, weekly candle is very strong and the reaction may be limited. Nifty must close above 7490/7564 to continue the rally while a close below 7361 may cause more fall. Friday was a NR9 day and we may see big move in next few days. Global and local eco-political events can have a bearing on how nifty moves in short term. Monthly range can be very wide due to a long expiry.

[vinay28]

Updated NF levels as of 8/3.

[vinay28]

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

Nifty for Wednesday (09/03/16) and beyond

Supports are at about 7447/40/36/20, 7397/61 and 7321 while resistances are at about 7523/32/67/73 and 7616. Unfilled gaps on higher and lower sides are at about 7741/ 7368 resp. Two +WWs can give about 7621/42 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7438 and 7346 (if below 7396) (-WWs with lower targets are not mentioned as of now).

Nifty opened flat and after uncertain up and down moves closed flat but well above 7450. Daily candle is an outside doji with strong -ve volume and a mild -ve div. The mild bearish div remains and we may see some more fall. However, weekly candle was very strong and the reaction may be limited. Nifty must close above 7490/7564 to continue the rally while a close below 7361 may cause more fall. Friday was a NR9 day and we may see big move in next few days. Global and local eco-political events can have a bearing on how nifty moves in short term. Monthly range can be very wide due to a long expiry.

[vinay28]

Updated NF levels as of 9/3.

[vinay28]

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

Nifty for Thursday (10/03/16) and beyond

Supports are at about 7495/55/44/20 and 7381 while resistances are at about 7575/90, 7616/72 and 7722. Unfilled gaps on higher and lower sides are at about 7741/ 7368 resp. 50/100 dma are at about 7405/7664 resp. Three +WWs can give about 7622/43 and 7718 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7485 (if below 7517) and 7414 (if below 7529) (-WWs with lower targets are not mentioned as of now). A rising wedge can give about 7475/35 in case of a break down below 7525.

Nifty opened gap down but rose sharply to close well above 7500. Daily candle is bullish engulfing with strong +ve volume. The mild bearish div remains and we may see some reaction soon. However, weekly candle was very strong and the reaction may be limited. Nifty must close above 7564 to continue the rally while a close below 7361 may cause more fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Monthly range can be very wide due to a long expiry.

[vinay28]

Updated NF levels as of 10/3.

[vinay28]

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

Nifty for Monday (14/03/16) and beyond

Supports are at about 7481/63/47/34/19/09 and 7396 while resistances are at about 7541/52/77 and 7593. Unfilled gaps on higher and lower sides are at about 7741/ 7368 resp. Four +WWs can give about 7620/45 and 7702/37 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7406 (if below 7531) and 7364 (if below 7569) (-WWs with lower targets are not mentioned as of now). A HnS can give about 7405 in case of a break down below 7465.

Nifty opened flat but closed above 7500. Daily candle is an inside bar but volume is strong +ve. Weekly candle is like a spinning top but with relatively strong +ve volume. Hence we may see further rise. The mild bearish div remains. Hence, we may also see some fall soon. Nifty must close above 7564 to continue the rally while a close below 7424/7361 may cause more fall. Daily candle was NR4 while weekly candle was NR10 and hence we may see big range next week. Global and local eco-political events can have a bearing on how nifty moves in short term. Monthly range can be very wide due to a long expiry.

[vinay28]

Updated NF levels as of 11/03.

[AMBY]

thanks,

[vinay28]

Updated NF levels as of 14/03.

[vinay28]

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

Nifty for Tuesday (15/03/16) and beyond

Supports are at about 7505, 7491/74/63/47/12/05 and 7368 while resistances are at about 7549/66/88 and 7620. Unfilled gaps on higher and lower sides are at about 7741/ 7510 resp. Four +WWs can give about 7625/56 and 7704/37 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7436 (if below 7551) and 7400 (if below 7531) (-WWs with lower targets are not mentioned as of now).

Nifty opened gap up but couldn't sustain after a making a higher high and closed -ve but above 7500. Daily candle is like an inverted hammer but volume is good +ve. The mild bearish div also remains. Hence, we may see some fall. Nifty must close above 7564 to continue the rally while a close below 7485 may cause more fall. Daily candle was NR5 while weekly candle was NR10 and hence we may see big range this week. Global and local eco-political events can have a bearing on how nifty moves in short term. Monthly range can be very wide due to a long expiry.

[riteshucha]

Vinay, volumes have been constantly lower than the previous days y, with price making newer highs almost every day from past 5/6 trading sessions,...isn't this a sign of exhaustion???
Is current rally top made today ???
Is this mere a bear market rally?? If yes then by how much (in % terms) does a bear market rally stretch too generally speaking ??

Your thoughts...

[vinay28]

[riteshucha]

thanks vinay!!

[AjitS]