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 (30/10/15) and beyond

Supports are at about 8085/77/68, 8045 and 7913 while resistances are at about 8133, 8165/72, 8194, 8214, 8223, 8235, 8256 and 8283. 50/100 dma is at about 8023/8205. Unfilled gaps on higher/lower side are at about 8233/7950 resp. Two +WWs can give about 8194 (if above 8127) and 8268 (if above 8206) (+WWs with higher targets are not mentioned as of now). A -WW can give about 8048 (-WWs with lower targets are not mentioned as of now). A rising wedge can give about 7980 if nifty remains below 8280. A falling wedge can give about 8270 upon BO above 8120.

Nifty fell again but managed to close above 8100 and looks bearish. However, there is bullish div on lower tf and we may see some recovery. The bearish div on daily, weekly and monthly continues and we may see lower levels in neat future unless strong buying emerges. On a daily basis, nifty must close above 8172/8190/8233, on weekly basis above 8190/8239/8256 and on monthly basis above 8137 to maintain some bullishness. A close below 8107 can be bad. Global and local eco-political events can have a bearing on how nifty moves in short term. As bulls and bears fight for a foot hold, we can see wild swings. Trade carefully, this being an expiry day.

[saurabhkurichh]

Hi vinay, Good morning.
Apart from these day to day or week to week levels. What is ur broad view of the markets?

[vinay28]

[vinay28]

Updated NF levels as of 30/10.

[saurabhkurichh]

thanks vinay

[manojkr78]

Vinay,

Think H&S is forming if today low not broken and move up till 8200-8250. But it is too early to predict

[riteshucha]

NS might target or try to fill the gap at 7950 to 8005.10....

[amitagg]

[vinay28]

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

Nifty for Monday (02/11/15) and beyond

Supports are at about 8022, 7994, 7981 and 7883 while resistances are at about 8088, 8116, 8129, 8135, 8173, 8190, 8235 and 8255. 50/100 dma is at about 8015/8205. Unfilled gaps on higher/lower side are at about 8233/7950 resp. Two +WWs can give about 8154 (if above 8091) and 8200 (if above 8126) (+WWs with higher targets are not mentioned as of now). A -WW can give about 7685 (if below 8027) (-WWs with lower targets are not mentioned as of now). A rising wedge can give about 7980 if nifty continues to fall. A falling wedge can give about 8260/8335 upon BO above 8060 or 7955 upon BD below 8040.

Nifty fell again and closed above 8050 and continues to be bearish. Weekly candle is bearish engulfing and lower levels are likely. The bearish div reported earlier has already given about 300 point fall. However, now, a bullish div is developing on all time frames and we may see a sharp and vicious recovery soon if buying emerges. Nifty must close above 8108 to begin with followed by above 8190 for further upmove. A close below 8001/7981 can mean lower levels. Global and local eco-political events can have a bearing on how nifty moves in short term. As bulls and bears fight for a foot hold, we can see wild swings.

[riteshucha]

Since 8005.10 ns is the low of breakout candle, any breach of this level will invite the big bears.... So better put this as final stop for any longs one may have...


quote="amitagg"]

[riteshucha]

NS 8005.10 breached... sell on pull backs... SL 8129 closing basis NS

[vinay28]

Updated NF levels as of 02/11.

[vinay28]

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

Nifty for Tuesday (03/11/15) and beyond

Supports are at about 8033, 8008, 7968 and 7958 while resistances are at about 8065, 8079, 8104, 8114, 8121, 8152, 8186 and 8256. 50/100 dma is at about 8007/8205. Unfilled gaps on higher/lower side are at about 8066/7950 resp. Three +WWs can give about 8082 (if above 8043), 8157 (if above 8085) and 8206 (if above 8122) (+WWs with higher targets are not mentioned as of now). (-WWs with lower targets are not mentioned as of now). A falling wedge can give about 8235/8335 upon BO above 8035 or 7940 upon BD below 7990.

Nifty fell again to go below 50 dma but recovered to close well above it and just above 8050. Daily candle is a hammer and we may see further recovery. Also, the bullish div can give a sharp and vicious recovery soon if buying emerges. Nifty must close above 8108 to begin with followed by above 8190 for further upmove. A close below 8001/7981 can mean lower levels. Global and local eco-political events can have a bearing on how nifty moves in short term. Sharply falling INR is confusing. As bulls and bears fight for a foot hold, we can see wild swings.

[vinay28]

Updated NF levels as of 03/11.

[vinay28]

Do all roads really lead to Rome? If nifty falls further, about 7977 seems to be the "last-hope" support for bulls.