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 (04/05/15) and beyond

Supports are at about 8179, 8141, 8130, 8100 and 8052 while resistances are at about 8186, 8226, 8257, 8270 and 8310. 200 dma is at about 8270 while an unfilled gap on lower side is at about 8102. Three +WWs can give about 8314 (if above 8170), 8365 and 8532 (if above 8207) (+WWs with higher targets are not mentioned as of now). (-WWs with lower targets are not mentioned as of now). Two HnS can give about 7850/7750 if nifty sustains below 8350/8160.

Nifty fell again and closed below 8200 and also below 200 dma. Daily/ weekly/monthly candles are bearish and nifty seems certain to go down further. However, there is a +ve div on daily and we may see a reversal. A close above 8286 may give further rise. Monday's candle may also give some hint of the immediate term movement since it is the first day of the week/expiry/month. Global and local eco-political events can have a bearing on how nifty moves in short term.

[vinay28]

chandrujimrc wrote:
Dear Vinay,
I think mkt will reverse at 200 Ema which is also the point 5 of EOD +WW for big rally with Divrg of RSI at 30.

Vinay28 wrote:
chandru, point 5 (about 8150 if happens today) is below 200 ema (about 8186) and in a very critical zone. Based on my finding over many years, if it even touches 8116, we will see more fall, albeit may be after a recovery of 300-500. But even if it breaches 8140, same may still happen. Today's low was 8221, very close to 8230 I posted yesterday. see charts posted yesterday. Keeping fingers crossed.

Note that monthly AT BO target of min 9240 was not reached. As of now, nifty is behaving like it did from Nov'13 to feb'14.
[quote]

Phew, that was close. Now I can blindly go long with SL of an intraday touch of 8116NS for a target of 10300-11800 by next Jan. Even if it touches 8116, it will reverse after some more fall and give a bounce of 300-500 points when I will cover longs and go short. Of course, since it came so close, there is no guarantee it won't fall more later but my confidence level will be boosted if there is no lower low next week and it crosses 8845 to begin with and then 8997/9120.

If, however, it touches 8116 then after a rally 7800/7600 may be certain.

[vinay28]

As of now, I doubt nifty will cross above this line. Note that the resistance level increases by about 14 per day. If it stops there, it may then fall about 10%. If it does sustain above it, next target is 9060-80 from which it may fall about 20%.

[vinay28]

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

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

Supports are at about 8295, 8252, 8220 and 8173 while resistances are at about 8379, 8391, 8410 and 8426. 200 dma is at about 8272. Two +WWs can give about 8395 and 8479 (if above 8237) (+WWs with higher targets are not mentioned as of now). (-WWs with lower targets are not mentioned as of now). Two HnS can give about 7870/7770 if nifty sustains below 8370/8170.

Nifty rose sharply and closed well above 8300 and also well above 200 dma, suggesting a strong island reversal. Daily candle is big, bullish Marubuzo and further rise looks certain. However, volume was below average and bulls will hope that this reversal doesn't fizzle out. A close above 8430 may give further momentum. The first day of the week/expiry/ month has given good hope sentimentally. Global and local eco-political events can have a bearing on how nifty moves in short term.

[vinay28]

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

Nifty for Wednesday (06/05/15) and beyond

Supports are at about 8310, 8295, 8282, 8243 and 8220 while resistances are at about 8333, 8358, 8395 and 8410. 200 dma is at about 8276. Two +WWs can give about 8391 and 8440 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8240 (if below 8308) and 8235 (if below 8350) (-WWs with lower targets are not mentioned as of now). A HnS can give about 7870 if nifty sustains below 8370 while an IHnS can give about 8465 if nifty crosses and sustains above 8365.

Nifty closed -ve but above 8300 and also well above 200 dma. Daily candle is like a hammer and further rise is possible. Tuesday was a NR7 day and we may see a big move on Wednesday. A close above 8430 may give further momentum. Global and local eco-political events can have a bearing on how nifty moves in short term.

[NU2013]

VIX up 13%...... holding 8400 puts!!

[vinay28]

[NU2013]

[vinay28]

[NU2013]

[vinay28]

[vinay28]

[manojkr78]

one more gap at 8029....

[vinay28]

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

Nifty for Thursday (07/05/15) and beyond

Supports are at about 8030, 8009, 7935 and 7921 while resistances are at about 8107, 8171, 8221 and 8296. An unfilled gap on lower side is at about 8029 and 200 dma is at about 8277. Four +WWs can give about 8156 (if above 8089), 8220/8267 (if above 8128) and 8376 (if above 8110) (+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 collapsed and closed just below 8100. Daily candle is like a huge, bearish Marubuzo and further fall seems certain. However, there is a +ve div on daily chart and a mild bullish div on weekly. Hence, we may see a reversal soon. 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]

Long term TL from pre-election time.