iCharts Discussions

[vinay28]

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

Nifty for Friday (29/04/16) and beyond

Supports are at about 7830/12, 7782/62 and 7731 while resistances are at about 7894, 7951 and 7998. Unfilled gaps on higher and lower sides are at about 8041/7708 resp. 200 dma is at about 7853. Two +WWs can give about 7919 (if above 7879) and 7946 (if above 7898) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7810 and 7495 (if below 7855) (-WWs with lower targets are not mentioned as of now). Two IHnS can give about 8070/8315 if nifty sustains above 7665/7840 resp.

Nifty opened down with a gap and tanked to close below 7850. Daily candle is big, bearish Marubuzo with strong -ve volume. Hence, we may see further fall. Bearish div on longer TF will give results only if sustained selling continues. Nifty must close above 7938 to continue the rally while a close below 7850 on Friday can cause more fall. Global and local eco-political events can have a bearing on how nifty moves in short term.

[AMBY]

Thanks.

[vinay28]

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

Nifty for Monday (02/05/16) and beyond

Supports are at about 7832, 7799/83/68/31 and 7685 while resistances are at about 7899, 7910/20/46/64 and 8000. Unfilled gaps on higher and lower sides are at about 8041/7708 resp. 200 dma is at about 7850. Two +WWs can give about 7911 (if above 7800) and 7919 (if above 7822) (+WWs with higher targets are not mentioned as of now). A -WW can give about 7493 (if below 7825) (-WWs with lower targets are not mentioned as of now). Two IHnS can give about 8070/8315 if nifty sustains above 7665/7840 resp.

Nifty opened flattish and fell but recovered a bit to close below 7850 and just below 200 dma. Daily candle is a doji with strong +ve volume and +ve div. Weekly candle is also a doji with -ve volume and -ve div and monthly candle is also a doji with strong +ve volume and is NR4. Hence, we may see some consolidation next week. Bearish div on longer TF will give results only if sustained selling continues. Nifty must close above 7915 to begin with while a close below 7758 can cause more fall. Global and local eco-political events can have a bearing on how nifty moves in short term.

[apka]

Hey Vinay long time

Bad times to come?

[venkkatshiv]

[vinay28]

[quote="apka"]Hey Vinay long time

Bad times to come?

[vinay28]

[sameerchaki]

In last 6 month nifty made high 8336 on 26/10/15 and 7992 on 28/04/16.
on 29/04 nifty closes 7849.Over all trend is bullish. MACD is +85.75
EMA is as on date up trend. On 2nd May if nifty breaks first 7835 and then
7715, then nifty's uptrend will arrest.consider SGX Nifty on monday

[sameerchaki]

MACD reduced from +85.75 to + 71.24 and it has generated sell signal.
nifty 7700 is crucial level for nifty break down.

[vinay28]

[vinay28]

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

Nifty for Tuesday (03/05/16) and beyond

Supports are at about 7799/83/59/11, 7682 and 7627 while resistances are at about 7834/52/70/80 and 7976. Unfilled gaps on higher and lower sides are at about 7850/7708 resp. 200 dma is at about 7847. Three +WWs can give about 7877 (if above 7780), 7891 (if above 7777) and 7952 (if above 7822) (+WWs with higher targets are not mentioned as of now). A -WW can give about 7493 (if below 7831) (-WWs with lower targets are not mentioned as of now). Two IHnS can give about 8070/8315 if nifty sustains above 7665/7840 resp.

Nifty opened gap down, made a lower low before closing just above 7800. Daily range was moderate but volume was -ve. Hence, we may see some more fall/consolidation this week. Bearish div on longer TF will give results only if sustained selling continues. Nifty must close above 7915 to begin with while a close below 7758 can cause more fall. Global and local eco-political events can have a bearing on how nifty moves in short term.

[venkkatshiv]

[quote="vinay28"]

[vinay28]

Updated NF levels as of 03/05.

[vinay28]

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

Nifty for Wednesday (04/05/16) and beyond

Supports are at about 7739/05, 7688/71/33/14 and 7577 while resistances are at about 7765/94, 7839/80 and 7911. Unfilled gap on lower side is at about 7708. 200 dma is at about 7844. Three +WWs can give about 7901 (if above 7770), 7911 (if above 7759) and 7952 (if above 7804) (+WWs with higher targets are not mentioned as of now). A -WW can give about 7486 (if below 7834) (-WWs with lower targets are not mentioned as of now).

Nifty opened gap down and rose sharply to make a higher but then crashed on global clues to make a lower low before closing below 7750. It thus looks bearish now. Daily candle is an outside bar. However, volume was not commensurate with the total range. Also, there is +ve div on lower TF and a mild bullish div on daily. Hence, further fall, if any, may be limited before next reversal, which may happen after the gap at 7708 is filled. Bearish div will give results only if sustained selling continues. Nifty must close above 7891 to start a reversal while a close below 7735 will continue the downtrend. Global and local eco-political events can have a bearing on how nifty moves in short term. High volatility is expected due to the long expiry.

[apka]