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 (28/09/15) and beyond

Supports are at about 7853/42, 7814/08, 7775/62, 7729 and 7689 while resistances are at about 7892, 7910, 7936, 7949, 8041 and 8085. Two +WWs can give about 8014 (if above 7902) and 8038 (if above 7773) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7637/7600 (if below 7934) (-WWs with lower targets are not mentioned as of now). A HnS can give about 7320 if nifty sustains below 7930.

Nifty rose again and closed above 7850 but is not out of the woods. Bullish div sustains but bulls have no hope without liquidity coming in. Only a close above 7982 can start a fresh upmove. A close below 7717 can be very bad. Since bearish sentiment persists, only some +ve major news/event can save nifty. Global and local eco-political events can have a bearing on how nifty moves in short term. High VIX can cause wild swings. Trade carefully in view of RBI policy review on Tuesday and also next week being truncated.

[vinay28]

[vinay28]

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

Nifty for Tuesday (29/09/15) and beyond

Supports are at about 7755, 7744, 7717 and 7686 while resistances are at about 7829, 7844, 7867, 7881, 7901, 7913, 7924, 7935, 8022, 8040 and 8057. Two +WWs can give about 7944 and 8041 (+WWs with higher targets are not mentioned as of now). A -WW can give about 7608 (if below 7953) (-WWs with lower targets are not mentioned as of now). Two HnS can give about 7550/7320 if nifty sustains below 7740/7930.

Nifty fell sharply again and closed below 7800 and continues to be bearish. Bullish div sustains but bulls have no hope without liquidity coming in. Only a close above 7982 can start a fresh upmove. A close below 7717 can be very bad. Since bearish sentiment persists, only some +ve major news/event can save nifty. Global and local eco-political events can have a bearing on how nifty moves in short term. High VIX can cause wild swings. Trade carefully in view of RBI policy review and also next week being truncated.

[vinay28]

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

Nifty for Wednesday (30/09/15) and beyond

Supports are at about 7817/10 and 7718/11 while resistances are at about 7874, 7893, 7953, 8022 and 8039. Three +WWs can give about 7953, 8025 and 8048 (+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 7550/7320 if nifty sustains below 7740/7930. A ST can give about 8115 upon BO above 7915.

Nifty rose sharply after a big gap down open and closed below 7850. Daily candle is bullish and engulfs previous three candles and bulls will hoe for a further rise provided liquidity comes in. On daily basis, nifty needs to close above 7869/7982/8002 for a fresh upmove to start. On monthly basis, though a close above 7785 is adequate, a close above 7972 is preferred. A close below 7717 can be very bad. Since bearish sentiment persists, only some +ve major news/event can save nifty. Global and local eco-political events can have a bearing on how nifty moves in short term. High VIX can cause wild swings. Trade carefully the week being truncated.

[vinay28]

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

Nifty for Thursday (01/10/15) and beyond

Supports are at about 7924, 7889, 7866, 7841, 7820 and 7776 while resistances are at about 7985, 8013/22, 8038, 8061, 8109 and 8159. Three +WWs can give about 8041, 8065 and 8154 (+WWs with higher targets are not mentioned as of now). Two -WWs can give 7782/58 (if below 7943) (-WWs with lower targets are not mentioned as of now). A HnS can give about 7310 if nifty sustains below 7920. A ST can give about 8105 upon BO above 7900. Two IHnS can give about 8070/8325 if nifty sustains above 7945/8035. A bullish flag can give 8055 unless killed below 7840.

Nifty rose in spite of a big gap up open and closed just below 7950. Daily candle is a hanging man and we may see some reaction. On daily basis, nifty needs to close above 7982/8002 for a fresh upmove to start. On weekly basis, though a close above 7826 is adequate, a close at/below 7868 can mean some more fall. Though monthly candle is a hammer, the big -ve volume suggests some more pain. Since bearish sentiment persists, only some +ve major news/event can save nifty. 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 intraday swings.

[vinay28]

Updated NF levels as of 01 Oct.

[vinay28]

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

Nifty for Monday (05/10/15) and beyond

Supports are at about 7932, 7915, 7895, 7882, 7868 and 7843 while resistances are at about 7966, 7999, 8022, 8033, 8044, 8076 and 8109. Three +WWs can give about 8050, 8076 and 8158 (+WWs with higher targets are not mentioned as of now). Two -WWs can give 7804/7758 (if below 7929) (-WWs with lower targets are not mentioned as of now). A HnS can give about 7310 if nifty sustains below 7920. A ST can give about 8105 if nifty sustains above 7900. Two IHnS can give about 8070/8325 if nifty sustains above 7945/8035.

Nifty fell after a gap up open and closed -ve but above 7950. Weekly candle is a hammer with good +ve volume and we may see further upmove. Nifty needs to close above 7982/8002 for a fresh upmove to start. Though monthly candle was a hammer, the big -ve volume suggests some more pain for consolidation. Since bearish sentiment persists, only some +ve major news/event can save nifty. 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 intraday swings.

[NU2013]

[vinay28]

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

Nifty for Tuesday (06/10/15) and beyond

Supports are at about 8087, 8073, 8056, 8035, 7958 and 7880 while resistances are at about 8159/67 and 8204/12. 50/100 dma are at about 8120/8225. An unfilled gap at lower side is at about 7950. Three +WWs can give about 8135, 8160 and 8185 (+WWs with higher targets are not mentioned as of now). A -WW can give about 7898 (if below 8009) (-WWs with lower targets are not mentioned as of now). An IHnS can give about 8320 if nifty sustains above 8030. A rising wedge can give about 7825 upon BD below 8035.

Nifty rose sharply in spite of a big gap up open and closed above 8100 and around 50 dma and suddenly looks bullish. Also, daily candle is a Marubuzo with good +ve volume. However, a mild bearish div is developing and we may see some reaction soon. Nifty needs to close above 8125/8192 for further upmove. Since bearish sentiment still persists, only some +ve major news/event along with liquidity inflow can give higher 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 intraday swings.

[vinay28]

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

Nifty for Wednesday (07/10/15) and beyond

Supports are at about 8140, 8122, 8103, 8070, 8056, 8034, 8004 and 7950 while resistances are at about 8193, 8208, 8231, 8311 and 8366. 50/100 dma are at about 8110/8225. Unfilled gaps on higher/lower side are at about 8300/7950 resp. (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8095 (if below 8188) and 7888 (if below 8011) (-WWs with lower targets are not mentioned as of now). An IHnS can give about 8320 if nifty sustains above 8030. A rising wedge can give about 7880 upon BD below 8120.

Nifty reacted after a big gap up open but recovered to close above 8150 and continues to look bullish. Daily candle is a hanging man. Also, a bearish div has developed and we may see some reaction soon. Nifty needs to close above 8226 for further upmove. Since bearish sentiment still persists globally, only some +ve major news/event along with liquidity inflow can give higher 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]

sell below 8177 only target : 8107 - 8055/8048 SL 8211 or safe 8221

[manojkr78]

Vinay,

any H&S pattern visible on weekly charts???

[amitagg]

The cloud has narrowed EOD and 8161 is crossing the same if it happens ....another buy trigger!

[vinay28]

[Niftyman]