iCharts Discussions

[vinay28]

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

Nifty for Wednesday (20/05/15) and beyond

Supports are at about 8324, 8283, 8240 and 8228 while resistances are at about 8377, 8391, 8418, 8445 and 8472. An unfilled gap on lower side is at about 8262, 200 dma is at about 8307 and 50 ema is at about 8433. Three +WWs can give about 8405, 8430 and 8521 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8222 (if below 8319) and 8173 (if below 8400) (-WWs with lower targets are not mentioned as of now). A HnS can give about 7900 if nifty sustains below 8410 while an IHnS can give about 8490 if nifty goes and sustains above 8300. A bearish flag can give lower level unless killed above 8395.

Nifty rose after a gap up but reacted sharply to close a bit -ve but closed above 8350 and well above 200 dma. Daily candle is an inverted hammer and we may see some more fall. Crossing above 8505 and a close above 8430 can give more rise. However, only a close above 8527 will give hopes of a further rally. A close below 8224 can cause more fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully as high vix can cause wild intraday swings.

[vinay28]

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

Nifty for Thursday (21/05/15) and beyond

Supports are at about 8418, 8290, 8366, 8296 and 8228 while resistances are at about 8446, 8472 and 8540. A previous high is at about 8505 while an unfilled gap on lower side is at about 8262. 200 dma is at about 8311 and 50 ema is at about 8434. Two +WWs can give about 8461 and 8587 (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 8324 (if below 8429), 8285 and 8213 (if below 8350) (-WWs with lower targets are not mentioned as of now). A HnS can give about 7900 if nifty sustains below 8410 while an IHnS can give about 8490 if nifty goes and sustains above 8300. A rising wedge break down can give 8250 if nifty sustains below 8385.

Nifty rose after a gap up open and closed above 8400. However, a mild bearish div has developed and we may see a sharp fall before further rally. Crossing above 8505 and a close above 8430 can give more rise. However, only a close above 8527 will give hopes of a further rally. A close below 8224 can cause more fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully as high vix can cause wild intraday swings.

[vinay28]

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

Nifty for Friday (22/05/15) and beyond

Supports are at about 8416, 8391, 8366, 8352 and 8336 while resistances are at about 8431, 8451, 8465, 8472, 8481, 8495 and 8555. A previous high is at about 8505 while an unfilled gap on lower side is at about 8365. 50/100/200 dma are at about 8476/85478314 and 50 ema is at about 8433. Three +WWs can give about 8460, 8530 and 8600 (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 8380/62/37 (-WWs with lower targets are not mentioned as of now). A HnS can give about 7925 if nifty sustains below 8425 while an IHnS can give about 8490 if nifty goes and sustains above 8300. A rising wedge break down can give 8275 if nifty sustains below 8410.

Nifty recovered after a fall upon a gap up open but closed -ve though above 8400. Daily candle is bearish engulfing and also like a hanging man. Also, a mild -ve and bearish div has developed and we may see some fall before further rally. Crossing above 8505 and a close above 8430 can give more rise. However, only a close above 8527 will give hopes of a further rally. A close below 8365 can be the first warning of an impending fall. Friday must close at least above 8396, preferably above 8430. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully as high vix can cause wild intraday swings as expiry approaches.

[vinay28]

Updated NF levels as of 22/05.

[NU2013]

[vinay28]

[NU2013]

[vinay28]

[vinay28]

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

Nifty for Monday (25/05/15) and beyond

Supports are at about 8440, 8423, 8387 and 8366 while resistances are at about 8472, 8493, 8526, 8579 and 8636. A previous high is at about 8505 while an unfilled gap on lower side is at about 8365. 50/100/200 dma are at about 8471/8550/8318 and 50 ema is at about 8432. Three +WWs can give about 8520, 8547 and 8644 (+WWs with higher targets are not mentioned as of now). A -WW can give about 8382 (if below 8465) (-WWs with lower targets are not mentioned as of now). A HnS can give about 7925 if nifty sustains below 8425 while an IHnS can give about 8490 if nifty goes up further. A rising wedge break down can give 8275 if nifty sustains below 8410.

Nifty recovered to cross 50 dma but closed below it. However, it closed above 50 ema and volume was good. Close above 8527/43 will give hopes of a further rally. A close below 8420 can be the first warning of an impending fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully as high vix can cause wild intraday swings being an expiry week.

[NU2013]

[vinay28]

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

Nifty for Tuesday (26/05/15) and beyond

Supports are closely spaced at about 8342, 8324, 8314, 8300, 8285 and 8276 while resistances are at about 8393, 8407, 8421 and 8470. A previous unfilled gap on lower side is at about 8262. 50/200 dma are at about 8465/8320 and 50 ema is at about 8431. Three +WWs can give about 8402 (if above 8367), 8445 (if above 8393) and 8518 (if above 8383) (+WWs with higher targets are not mentioned as of now). Four -WWs can give about 8356, 8324, 8303 and 8204 (-WWs with lower targets are not mentioned as of now). A HnS can give about 7930 if nifty sustains below 8430. A rising wedge break down can give 8275 if nifty continues to fall.

Nifty fell sharply to close above 8350 and seems headed down. A close below 8332 can cause more fall. However, there is a bullish div on lower tf and only a sharp reversal soon can save bulls. But only a close above 8527/43 will give hopes of a further rally. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully as high vix can cause wild intraday swings being an expiry week.

[vinay28]

[vinay28]

Nifty likely levels.

[vinay28]

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

Nifty for Wednesday (27/05/15) and beyond

Supports are closely spaced at about 8324, 8313, 8293 and 8275 while resistances are at about 8346, 8373, 8407, 8429, 8453 and 8542 A previous unfilled gap on lower side is at about 8262. 50/200 dma are at about 8458/8323 and 50 ema is at about 8428. Four +WWs can give about 8376/8420 (if above 8335), 8406 (if above 8356) and 8450 (if above 8375) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8272 and 8203 (-WWs with lower targets are not mentioned as of now). A HnS can give about 7930 if nifty sustains below 8430. A rising wedge break down can give 8275 if nifty continues to fall.

Nifty fell again to cross below 200 dma but closed above it and 8300. A close below 8332 can cause more fall. However, there is a bullish div on lower tf and a sharp reversal is possible. A close above 8424 will give further momentum. Tuesday was a NR4 day and we may see a big move on Wednesday. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully as high vix can cause wild intraday swings being an expiry week.

[apka]

hey, hows everyone

what's the mood of the market, are we long or short here?