Nifty

Nifty approaching resistance cluster

After reading Nifty chart closely today morning, i just came across a probable double bottom pattern which has been confirmed. Though i missed it while breakout but we had already recommended longs on other factors. You might be guessing that now whats the use of it?? Of-course we can be cautious near its target of 7620. Similar resistance …

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Nifty

Pagal panti continues!!!!

Nifty continued with its wired trend of making Higher high and lower low for the second consecutive day but today its not the Doji but a strong positive candle. Technically, it may be called “Bullish Engulfing” but its not clearly near a new low so we can consider this just a continuation pattern that too …

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Nifty

Traders are in confused state of Mind

Nifty has given a close with a perfect Doji on Daily charts, signing a Pause to the previous trend or a break before going ahead. In simpler terms, Doji represents confused state of mind of traders. To add more confusion, today’s Doji pinched a New high as well as new low compared to previous closing giving …

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Nifty

Nifty “Gotala”

Nifty has given a strong weekly move of almost 650 points from the day of the budget to todays opening price which marked high at 7505. Again PSU banks rallied and out-performed but at last it seemed rally was a bit exhausted. After a non-stop rally of 600 points in one week, am bit looking for Shorting opportunities. If …

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Nifty

Nifty in Reserve

Today Nifty closed above my expected resistance level of 7447 which was my 50 day average level and recommended target yesterday at “Double Dhamaka”. Looking at todays move on Index, it seems Nifty is going to be unstoppable for a day or two. Technically, Nifty seems to be approaching reserve level for this rally. We must rest  for …

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Nifty

Double Dhamaka on Nifty

TARGETS ACHIEVED: 7265 and 7350 Today it was Diwali day for traders as “stocks rocket ho gaye”. Nifty after many months gave a strong gap up of more than 90 points. Advance/Decline ratio was almost 9:1 and it was one of the best in recent times. Nifty finally closed on my upside target 7350 which i mentioned …

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Nifty

Nifty approaching upside target

Finally we saw some strong move on Nifty after many sessions but yet its not that convincing for a reversal for a long term horizon. As Dow Theory suggest that unless we get a clear reversal signal, we should believe that the existing trend is intact. So i am still not fully convinced for a upside …

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Nifty

Relationship status: “Complicated”

Last week we saw that Nifty kissed support at 6960 and the relationship was upto that kiss only for the last week. But today it got more complicated between supports and Nifty. Today it went more than a kiss below 6960 and it felt that relationship would go much beyond, but they fell apart and couldnt sustain for a day too! Nifty managed to close …

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Nifty

Would it be just one kiss story or will go further?

Technically today was a good day on Nifty daily charts but the weekly closing hasnt been that significant for either side move. So we have to stick to daily chart analysis to get some clear trend. As we saw yesterday, that low was exactly kissed at the strong support of 6960 which was previous weeks low and also the Fibonacci support so it …

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Nifty

Just kissed activation level for the target 6600

Nifty expiry has been the worst this year as it has closed below 7000 level which was last resort psychological level for traders. As i mentioned yesterday that a trade below 6960 would activate 6609, today nifty made low exactly at  6961 which can be termed as ‘kissing support”for the downside breakout.  As you all could …

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