Nifty

Tune in to channel “W”

Nifty has been quite volatile since last few weeks but during this course it has created a upside sloping channel on weekly charts as marked in the attached chart. Momentum seems to be strong for the upside rally in coming week or two as indicated by weekly indicators. But now daily charts are bit confusing to our weekly momentum …

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Nifty

Nifty back to its medium term trend

We have seen some surprising pull back from the lows on Nifty which was surely not expected in such a quick manner. Though overall trend for the mid term seems to be positive but Nifty was trading in a downside channel on the daily chart which has been breached today with heavy volumes moving back …

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Nifty

Nifty channeling

In my last post i mentioned about probable evening star pattern on 9th June and its still holding its importance on Nifty chart. But to support its significance we have got two more components now. Firstly, We got shooting star candle as squared in the chart and secondly, now Nifty has confirmed its path in …

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Nifty

Imperfect says ‘I-M-Perfect’ ??

Sometimes patterns wont be perfect but still its says that “I-M-Perfect”. Though today many technical analyst wont notice circled pattern as perfect evening star pattern but i would say that this COULD be imperfect evening star pattern and could give some points reversal if not as much as a perfect pattern would give from such a peak. …

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Nifty

Nifty target achieved!

Nifty has given a wonderful run over 7772 which was my trigger for buy as i mentioned in my post on 25th May (Bears Sucked out completely) and target of 8265 was given on 26th May (IPL Fever on D-street). Though my target was left by just 3 points on Friday but we should have margin of safety of …

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Nifty

Nifty ends with Bearish Engulfing

After fast and furious five days  we have got a bearish reversal pattern after a long time i.e., Bearish engulfing on Nifty. Market have been one way since last week but now it seems we may get some breaks on the rally. Confirmation of bearish engulfing could be only if we trade below todays low tomorrow or day two. Though my …

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Nifty

IPL fever on D-Street

Today i just felt i was watching highlights of RCB vs GL where Virat and AB De villiers scored incredible 248 in 15 overs as exactly same we scored 300+ points on Nifty in 2 sessions which was just so fascinating. 7700 was surely my support but frankly speaking i also didnt expect such a rapid recovery in just 2 sessions.  But coincidentally it …

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Nifty

Bears sucked out of Nifty completely

Vacuum cleaner has sucked out all Bears in a day from the Nifty charts. As i mentioned yesterday, 7772 was the hurdle but we opened way above the hurdle and confirmed short term rally with a close above number of resistances. Technically, now the gates have reopened for upside target of 8100 in june expiry but alot would be dependent …

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Nifty

Nifty has entered Vacuum Cleaner

Since last few days, there was nothing to write about on Nifty as we were witnessing a Mary-go-round for traders around 200 day average which was flying around 7792-7810 but today finally i have spotted something on daily charts. Nifty opened flat today but closed way above 0 mark leaving a Green candle but the candle has resisted to line (upper red line) connecting recent higher highs which …

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Nifty

Dont get misguided with Candlestick pattern

It had been nightmare for BTST traders as Nifty opened gap down and didnt gave any chance for BTST players to exit in profits but positional traders shouldn’t worry much. As i said yesterday that we might get a dip today and best buy would be in the range of 7840-7870 and we have closed exactly …

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