iCharts Discussions

[manojkr78]

vinay,

red candle today...

[vinay28]

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

Nifty for Wednesday (21/10/15) and beyond

Supports are at about 8226, 8188, 8153 and 8030 while resistances are at about 8297, 8329, 8352 and 8366. 100/200 dma are at about 8206/8380 resp. Unfilled gaps on higher/lower side are at about 8300/8107 resp. A +WW can give about 8347 (+WWs with higher targets are not mentioned as of now). Four -WWs can give about 8116 (if below 8210), 8082 (if below 8283) and 7888 (if below 8257) (-WWs with lower targets are not mentioned as of now). An IHnS can give about 8305 if nifty sustains above 8015. A rising wedge and a broadening, ascending wedge can give about 7930 if nifty remains below 8220.

Nifty fell after making a higher high but reacted and though it recovered a bit, it closed mildly -ve but above 8250. However, daily candle is bearish engulfing with -ve div and strong -ve volume. So we may see some more reaction. The bearish div is getting stronger on daily, weekly and monthly. Hence we may see a sharp fall soon. Monday's NR48 day is yet to give big moves. Bulls will want a close above 8300 to begin with while bears will want a close below 8189. 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 as next week is truncated.

[vinay28]

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

Nifty for Friday (23/10/15) and beyond

Supports are at about 8211, 8188, 8174, 8153, 8133 and 8102 while resistances are at about 8277, 8297, 8312, 8321, 8335, 8352 and 8368. 100/200 dma are at about 8205/8380 resp. Unfilled gaps on higher/lower side are at about 8300/8107 resp. A +WW can give about 8384 (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 8114 (if below 8208), 8080 (if below 8280) and 7885 (if below 8260) (-WWs with lower targets are not mentioned as of now). An IHnS can give about 8320 if nifty sustains above 8030. A rising wedge and a broadening, ascending wedge can give about 7910 if nifty remains below 8250.

Nifty made wild up and down moves before closing mildly -ve and above just 8250. Daily candle is an outside doji bar with -ve div and strong -ve volume. So we may see some more reaction. The bearish div is getting stronger on daily, weekly and monthly. Hence we may see a sharp fall soon. Bulls will want a close above 8300 to begin with while bears will want a close below 8238 and preferably below 8189. 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, expiry being next week.

[vinay28]

Updated NF levels as of 21/10.

[riteshucha]

sell NF below 8307 add more around 8340 SL 8360, target 8255 - 8239...

bank nifty is buy above 17950 tgt 18040 / 18140 and sell below 17800 target 17700 / 17600 ----spot levels...

[NU2013]

How long will the party last??

[vinay28]

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

Nifty for Monday (26/10/15) and beyond

Supports are at about 8272, 8251, 8188, 8153 and 8133 while resistances are at about 8330, 8352, 8366, 8396 and 8402. 100/200 dma are at about 8202/8379 resp. Unfilled gaps on higher/lower side are at about 8373/8251 resp. A +WW can give about 8404 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8208 (if below 8313) and 8103 (if below 8369, which is yet to be reached) (-WWs with lower targets are not mentioned as of now). A rising wedge and a broadening, ascending wedge can give about 8000 if nifty breaks and remains below 8300.

Nifty remained in a narrow range and closed mildly -ve and just below 8300. Daily candle is a spinning top and a likely evening star, to be confirmed by a red candle on Monday. So we may see some reaction. The bearish div is getting stronger on daily, weekly and monthly. Hence we may see a sharp fall soon. Weekly candle was NR49 and we may see big moves next week. Bulls will want a close above 8373 with while bears will want a close below 8251. 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, expiry being next week.

[riteshucha]

NF gap filled... NS yet to fill... might just come down again...

[vinay28]

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

Nifty for Tuesday (27/10/15) and beyond

Supports are at about 8227, 8196 and 8166 while resistances are at about 8286, 8302, 8317, 8334, 8356, 8370, 8397 and 8424. 100/200 dma are at about 8203/8378 resp. Unfilled gaps on higher/lower side are at about 8373/8251 resp. Two +WWs can give about 8310 (if above 8224) and 8403 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8204 (if below 8321) and 8108 (-WWs with lower targets are not mentioned as of now). A rising wedge can give about 8090 if nifty remains below 8270.

Nifty fell after a gap up open and closed above 8250. Daily candle is a Marubuzo cum outside bar with -ve div. So we may see some more fall. The bearish div on daily, weekly and monthly continues. Hence we may see a sharp fall soon. Bulls will want a close above 8373 with while bears will want a close below 8251. 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 expiry week.

[riteshucha]

below 8239 NF target 8216 / 8194 / 8171... SL 8281

highly likely that we may touch 8171... 8200 PE has the highest OI.. strong base... might test to see how strong the base is...

[vinay28]

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

Nifty for Wednesday (28/10/15) and beyond

Supports are at about 8228, 8216, 8203, 8194, 8164, 8145 and 8110 while resistances are at about 8238, 8253, 8261, 8283, 8331, 8346 and 8394. 100/200 dma are at about 8204/8379 resp. Unfilled gaps on higher/lower side are at about 8261/8107 resp. Two +WWs can give about 8252/8321 (if above 8225) (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 8200, 8110 and 8086 (-WWs with lower targets are not mentioned as of now). A rising wedge can give about 8090 if nifty remains below 8270.

Nifty remained in an extremely narrow range after a gap down open and closed above 8250. The range was narrowest in more than 2 years with huge volume, which is very confusing. Daily candle is a doji star and has the potential to cause island reversal if Wednesday's candle opens gap up and closes green without filling the gap. There is a +ve div on lower TF and we may indeed see some recovery. However, the bearish div on daily, weekly and monthly continues. Hence we may see a sharp fall soon. Bulls will want a close above 8296 to begin with while bears will want a close below 8189. 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 expiry week.

[riteshucha]

NF trading below 8216 targets are 8194 / 8171 / 8149 SL 8258

but few things that are pointing towards bullish set up
1. 8300 PE open high same at 99.65 indicating support at 8200
2. 8200 CE open low same at 32 again indicating we might go higher but only once 8233 on spot is breached...
3. +ve on 15 TF for novemenber series...
4. 8000 CE open low same..again saying 8200 strong support

8200 PE high is 32.60, hence support could be around 8167 on NS

hence shorters keep SL of 8233 NS for the day and longs keep SL of 8167 NS... and play is what i feel

I personally feel one can sell on rise till 8225 spot SL 8233

view till tomm expiry....

[vinay28]

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

Nifty for Thursday (29/10/15) and beyond

Supports are at about 8140, 8129, 8105, 8090 and 8069 while resistances are at about 8188, 8201, 8216, 8235, 8251, 8283 and 8346. 100 dma is at about 8206. Unfilled gaps on higher/lower side are at about 8233/8107 resp. Two +WWs can give about 8260 (if above 821) and 8284 (if above 8191) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8087 and 8061 (-WWs with lower targets are not mentioned as of now). A rising wedge can give about 7980 if nifty remains below 8280.

Nifty fell after a gap down open but recovered a bit to close well below 8200. Daily candle is a hammer but with strong -ve volume and hence any recovery may be short lived. The bearish div on daily, weekly and monthly continues and we may see lower levels in neat future. Bulls will want a close above 8261 to begin with while bears are now smelling victory and will want a close below 8107. 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.

[NU2013]

[amitagg]