Nifty Daily Chart: As we expected, Nifty reversed from the resistance level of 5872. If Nifty manages to closes below 5875 then we can see further fall in Nifty over the days to come. RSI is turning its head down. Only Risky Positional Traders hold long in nifty, or keep a SL at 5740.Nifty Intraday Chart: As we expected we see wild sings in the daily chart in the late afternoon session. On the chart we see sluggishness in the upside movement in Nifty. I think this will drag nifty further down in days to come.
Thursday, 31 March 2011
Wednesday, 30 March 2011
Nifty Intraday Chart: Nifty fails to move higher than 5804 the resistance level for the session. However the momentum towards downside is still lacking. We will get clear direction on Nifty in a day or two. Tomorrow being expiry, we expect Nifty to be volatile and provides good opportunity to go either way. Only Risky Positional Traders hold Long on Nifty, the rest can remain neutral in the market for the day.
Tuesday, 29 March 2011
Monday, 28 March 2011
Intraday Chart: Nifty holding strong on the positive trendline. No big movements on the intraday chart in todays session. Positional Traders: We are holding long on Nifty as our closing stratergy. On the intraday basis we booked profits on Nifty short at 5660. We might get an opportunity to average long position on Nifty in tomorrow's session.
Nifty Daily Chart: On the daily chart we see that Nifty has broken the triangle as we expected few weeks back. Nifty has given surprises by rallying with run away hard gaps. All we need to see is to build on long positions when Nifty tries to fill the hard gaps in a day or two.
Nifty Intraday Chart: On the intraday scale we see a positive trendline in formation. The RSI seems to be little tired, which gives us an opportunity to enter the market when nifty tries to take support at the marked levels (Blue Lines).
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Wednesday, 23 March 2011
Tuesday, 22 March 2011
Monday, 21 March 2011
Nifty moving well along the expected lines. I think the triangle pattern we were speaking about would be completed in a day or two. We need to get it soon for the reversal to happen; if this has to happen. Another possibility is that the pattern would have been completed in todays low at 5349 (Island Reversal). We will keep tracking the nifty movements and will keep you posted.
Friday, 18 March 2011
As we expected earlier in this week, nifty has taken the support around 5360. If nifty closes below 5434 and if nifty manages to break below 5340, we can see heavy selling over the weeks to come. Only risky traders create short position again in Nifty, for safe traders it is advisable to wait for the close below the lower range today. We are holding short in Nifty.
Thursday, 17 March 2011
Nifty has been moving forth and back within a range for the past few sessions; giving no clear cues about the future price action. Mr.Market always love to push prices into no man's land, leaving all bulls and bears in dilemma. Now the price action for the past few sessions have given us an important cue about the major price action to begin. The range in between 5538 and 5434 is critical. I personally believe a close above or below this range would decide the next major movement in Nifty. Am watching these levels very closely. Will keep you updated once this range is breached.
Apologies for not updating for the previous session and this morning; as I was held up in Bangalore. Keep watching this space for updates.
Wednesday, 16 March 2011
Yesterday's move in Nifty has pushed the index into no man's land. We still feel a little push down towards 5300 would complete the correction in Nifty. Book profits at regular intervals until a clear movement in Nifty is identified. Positional Traders can hold short with SL at 5500 on today's closing basis.
Tuesday, 15 March 2011
Nifty is poised to open lower and it seems to me a wedge pattern in completion. Nifty need to touch around 5305 to complete the wedge pattern and need to bounce from there. We will keep tracking the minute movements in Nifty and we will keep you posted. Positional Traders with Short in Nifty can cover short in opening gap down.
Monday, 14 March 2011
Friday, 11 March 2011
Thursday, 10 March 2011
Nifty closed exactly near our SL at 5532 yesterday. Volumes have been under pressure for the past few trading sessions. Nifty is piosed to open lower in the morning session. Nifty need to make intraday low below 5460 to gain momentum; else there is always a chance for intraday bounce in Nifty. We will keep you posted once the market is opened. Keep watching this blog.
Wednesday, 9 March 2011
Tuesday, 8 March 2011
Mr.Market does it instyle. It filled the gap of yesterday and howering around that level, trying hard to cross over. Nifty need to close above 5512 today to gain further momentum upside. However no clear signals emerges. We are holding short in Nifty with SL at 5544 on closing basis. Tomorrows market action would be deterimental for some weeks to come. One can hold short in nifty with the said SL for todays closing.
Nifty bounced from intraday low around 5420 yesterday, which happens to be the 50% retracement of the previous leg up. Today Nifty need to manage to go below 5420 and closes below it, for further downside movement. For the morning session we advise the safe traders to book profits on shorts build on friday around 5430. We wil keep you posted for the next possible moves on Nifty. Keep watching this blog for updates.
Monday, 7 March 2011
Friday, 4 March 2011
Tuesday, 1 March 2011
Nifty witnessed wild sings as expected on the day of budget. Today we can expect a move higher in early session and gradually moving lower and lower. Nifty need to close above 5430 to continue its upside movement, till then bears will have control over the nifty. We are still holding short, will keep you updated in case a reversal in nifty is spoted.
SMS not going through. Levels for the day: INTRADAY SELL NIFTY(SPOT)@5370~5405~5440 WITH SL@5445 FOR TARGETS OF 5340~5300.