iCharts Discussions

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

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

Nifty for Friday (08/05/15) and beyond

Supports are at about 8030, 7995 and 7933 while resistances are at about 8107, 8121, 8185, 8221 and 8296. An unfilled gap on lower side is at about 7927 and 200 dma is at about 8280. Four +WWs can give about 8135/8193 (if above 8011), 8160 (if above 8065) and 8383 (if above 8108) (+WWs with higher targets are not mentioned as of now). (-WWs with lower targets are not mentioned as of now). A HnS can give about 7700 if nifty sustains below 8125.

Nifty fell more but recovered to close above 8050. Daily candle is a doji and also like a morning star, suggesting a possible reversal, which can be confirmed by a gap up open with a green candle. The +ve div on daily chart and bullish div on weekly is increasing. A close above 8182 may give further rise. Global and local eco-political events can have a bearing on how nifty moves in short term.

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

The recent rise in nifty is indeed due to +ve div but that only lasts a few days. I am more interested in the bullish div on weekly as it is much stronger. So, as of now I see two possibilities. (1) nifty will not sustain above 8355, though it may go to 8380 or so, and then down to 8080 or so and then 8600-8700 by expiry and 9000+ in june or (2) first 8550 then 8080 then about 8550 by expiry and then 9000+ in June.

This, however, requires fund flows from FIIs, which are -ve for last so many days. But also DII flow is consistently +ve. I have noted that when it happens for many days, FIIs start buying. I have never understood why FIIs sell at lower levels and buy at higher. I have always suspected foul play in data reporting. If, however, there is no +ve FII fund flow in near future and that too for many days then a third possibility is 8380/8550 first and then 7800/7500/7400.

doctorshah · White Belt Joined: 24 Jul 2011 Posts: 95

Vinay I heard big IPOs coming up in China next week. Do this have any effect on our markets?

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

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

Nifty for Monday (11/05/15) and beyond

Supports are at about 8179, 8134, 8106, 8078 and 8030 while resistances are at about 8221, 8237, 8255, 8282, 8296, 8355 and 8391. An unfilled gap on lower side is at about 8057 and 200 dma is at about 8283. Three +WWs can give about 8272, 8296 and 8374 (if above 8209) (+WWs with higher targets are not mentioned as of now). (-WWs with lower targets are not mentioned as of now). A HnS can give about 7860 if nifty sustains below 8360.

Nifty rose sharply after a gap up open and closed just below 8200confirming the morning star. Weekly candle is a doji and also an outside bar with +ve volume. Also, there is a +ve div and bullish div on weekly and further rise is imminent. A close above 8286 followed by 8332 may give further momentum. Global and local eco-political events can have a bearing on how nifty moves in short term.

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

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

Nifty for Tuesday (12/05/15) and beyond

Supports are at about 8294, 8255, 8237 and 8181 while resistances are at about 8345, 8366, 8391 and 8403. An unfilled gap on lower side is at about 8191 and 200 dma is at about 8286. Three +WWs can give about 8362, 8378 and 8407 (+WWs with higher targets are not mentioned as of now). Four -WWs can give about 8276 (if below 8330), 8244 (if below 8321), 8176 (if below 8247) and 8122 (if below 8214) (-WWs with lower targets are not mentioned as of now). A HnS can give about 7860 if nifty sustains below 8360.

Nifty rose sharply again in spite of a gap up open and closed not only above 200 dma but also above 8300 and suddenly looks bullish. Weekly candle is a doji and also an outside bar with +ve volume. The bullish div on weekly is nicely playing out. However, to begin with, a close above 8332 is a must, followed by a close above 8430 for further momentum. Global and local eco-political events can have a bearing on how nifty moves in short term.

NU2013 · White Belt Joined: 18 Jul 2013 Posts: 104

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

NU2013 · White Belt Joined: 18 Jul 2013 Posts: 104

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

NU2013 · White Belt Joined: 18 Jul 2013 Posts: 104

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

NU2013 · White Belt Joined: 18 Jul 2013 Posts: 104

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

no I bought some calls. will decide near eod.

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

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

Nifty for Wednesday (13/05/15) and beyond

Supports are at about 8085, 8052, 8007, 7978 and 7935 while resistances are at about 8182/8190, 8264, 8366 and 8391. An unfilled gap on lower side is at about 8057 and 200 dma is at about 8290. Four +WWs can give about 8191 (if above 8143), 8363 and 8382/8561 (if above 8090) (+WWs with higher targets are not mentioned as of now). A -WW can give about 8105 (-WWs with lower targets are not mentioned as of now). A HnS can give about 7860 if nifty sustains below 8360 while an IHnS can give about 8500 if nifty goes and sustains above 8320.

Nifty slumped more than 200 points to close below 8150 and also well below 200 dma and suddenly looks very bearish. Daily candle is a huge, bearish Marubuzo. However, the bullish div is becoming stronger and we may see a sharp reversal soon. A close above 8182 is a must to begin with but only a close above 8332 will give further momentum. Global and local eco-political events can have a bearing on how nifty moves in short term.