Nifty

Perfect inverted H&S Spotted!

Technical patterns are generally very rare to be spotted perfectly just as a theory definition but i just came across a “Inverted Head and Shoulder” pattern on Aban OffShore’s  weekly and it is just so near to perfect. As you all could make out in the attached graph, stock has given a confirmation close above the neckline, 183, yesterday. …

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Nifty

Nifty back to resistance level on Weekly chart!

One of the best days we got on Nifty but unfortunately we were not able to trade but anyways Markets are not gonna close tomorrow so we shall trade now after some confirmation on the upside. Today after a false breakout trade below 200 day SMA at 7868 in opening minutes, we have closed way above …

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Nifty

Nifty Showing Signs of Profit Booking

Nifty had a tremendous run through April expiry but finally its showing some signs of profit booking on daily chart. In my last post i recommended to keep trailing stop loss at 7848 and it has been triggered today. After the 4 consecutive close over 200 Day average, Nifty has closed below the same but its just …

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Nifty

Are we over with one year Profit Booking?

Today i shall be talking about Nifty charts through a larger scope of horizon which is Weekly charts as some interesting facts have came up. As you all can notice in the chart, Nifty had been trading strictly in downside channel since the life high last March and for the first time in 12 months …

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Nifty

Nifty close gives a confirmation!

After long time i am posting to you guys but am sure if you guys have followed as per my last post you are having a Gala time at D-Street. On my last post “Tug Of War” i had a recommended a conditional strategy on the index and fortunately we got the breakout on the upside …

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Nifty

Tug of War Continues!

Tug of war continues between the bulls and bears! The game has been tough since February but the bulls seems to be getting favorite on traders list! Each try to short markets have burnt fingers in last two weeks. Today when Bears had almost go the rope in their zone, bulls came with the full force and …

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Nifty

Tit for Tat for bulls

Nifty has confirmed Nifty bank average today which is sell on rise for the short term traders. In my earlier post today i initiated sell call on Nifty Bank but now Nifty charts two have confirmed the other average with Double Top formation. As we all could notice that neckline was around 7590 where markets was taking support since last 4 times. Fortunately that was even …

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Nifty

Financial Year end’s with a confusion!

Nifty has been pretty confusing in last 3 weeks of trading where we have almost seen 6 Doji’s  on daily chart with represents confusion on D-Street. Today also we have got a candle depicting  same characteristics as a Doji. Daily chart indicators have already entered overbought zone but still we haven’t got any clear confirmation for …

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Nifty

Nifty takes a Drifting Turn

Nifty Drifts successfully on the U-Turn to resume the unfinished up-move. Until yesterday, charts were smelling that we could witness a profit booking ahead of expiry and year end but i was proved wrong today. Just like a car gets off road during race and its not expected to be back on track, Nifty was …

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Nifty

Nifty ends one more day with negative biasness

Nifty traded in the strict range throughout the day and remained volatile between the range. But the close was with some bearish outline on the charts. Firstly, a Grave Stone Doji has been embarked on daily chart which indicates a bearish mood among traders who closed positions or markets to days low. Secondly, Nifty ended exactly near …

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