Today's high 24661 a strong resistance point to watch out for. If Nity is not above to close above this level then we can see the fizz of the current rally going out and Nifty can go searching for supports in the short term. If we get a closing above 24661 the top of the trend seems to be near 24726 for now. Supports for Nifty seem to be near 24593, 24526, 24476...
Nifty touched and returned from an important trend line resistance today at 24635. During the course of day another point at This will be an important hurdle to cross before we reach another hurdle which 24615 also proved to be a resistance. If these two resistances are crossed next resistance will be at 24692. Supports for Nifty are at 24526 and 24476. the zone...
Driven by unexpectedly positive results by TCS, most IT companies jumped in a positive rage and took the index into further unchartered territory making a high or 24592 and closing at 24502. The trend suggest that the peak can be near 24769 if the resistances of 24592 and 24662 are crossed. The supports for Spot Nifty remain at 24490, 24437, 24317 major support 50...
Nifty today took a support at 24141 and market a recovery where it closed at 24324. If Nifty is able to close or hold above 24353 there can be recovery which can lead to Nifty going as high as 24403 or 24461. If and when we get a closing above 24461 we can think of crossing 24500 and hitting a high of 24520 for now. If the resistance of 24353 is not corseed and we...
Nifty 50 in a parallel channel drawn on hourly candles is indicating that it might be nearing an important Fibonacci resistance of 24463. Before reaching there it needs to clear today's high that is 24443. Thus the zone between 24443 and 24463 is a huge resistance. One way to clear it would be a gap up opening tomorrow. If that is not possible tomorrow and for the...
As predicted the current top seems to be around 24408. Nifty reached round about there, made a high of 24401 and closed at 24302 which is 98.85 points down. The resistnace remains the same and supports remain the same. In fact there is a very weak additional support now at 24396 followed by 24236. Other supports for Nifty remain in the range between 24144 and...
Nifty is moving in a tight range. On higher levels there is Profit booking as it falls there is buying. Perfect Bull bear tussel at play. during the tussel Nifty has found a new support of today's low at 24054. Also extended it's resistance to 24236. If we get a closing above 24236 the Channel top currently looks near 24350 to 24408 range. There is a possibility...
Today's high of 24164 will be an important resistance. Closing above 24164 can open the door for 24322. 24322 is a very important channel top and trend top resistance. As there is very less room left towards the top and Nifty is delicately placed on the trend line. There are 2 things that can happen when and if the Nifty reaches channel top. There can be channel...
Nifty is moving swiftly near the channel top. In the short term hourly chart RSI is 58.8 indicating that there might be some strength left in the current rally. However, it is delicately placed between strong resistance and weak supports which indicates correction also might be round the corner. Nifty supports are at 23976 and 23881 both are weak supports. 23777...
Nifty is moving swiftly near the channel top. In the short term hourly chart RSI is 58.8 indicating that there might be some strength left in the current rally. However it is delicately placed between strong resistance and weak supports which indicates correction also might be round the corner. Nifty supports are at 23976 and 23881 both are weak supports. 23777 is...
The chart above is the chart of Nifty 50 since 1991. This chart here tells a few stories. I will tell you my version of these stories or observations you can derive your own conclusions from them: 1) India is a continuous bull market. There are blips due to Micro and Macro reasons but the chart keeps moving forward in the parallel channel. We are in the upper...
24K is done and dusted now what can we expect? As indicated earlier IT was the index to watch out for this week. There was a cup and handle formation and cup and handle breakout in the sector after lot of consolidation. Few other sectors that were red hot were Energy, Infra and consumption. We had also indicated that Mid and small cap shares will face the brunt...
Nifty at All Time High What is in store next? What are the support and resistance levels now?: Nifty has made a new high on the back of rallying major Large caps in Bank Nifty, Financial services and IT stocks. Small cap was stable but Public sector, Mid-caps and Realty stocks were bearing the brunt of Profit booking. We have been indicating a major shift...
Nifty has taken a good support at 23340 and given a closing above 50 hours EMA at 23537. Shadow of the candle for now has turned positive. There is a strong resistance in place near 23548. 23455 (50 Hours EMA) and 23340 are good supports for now. Above 23548 the next resistances can be 23568 and 23667. Let us see if Nifty rally has gained some steam after little...
Nifty is resting delicately on 50 Hours EMA support. Every rise is seen as an opportunity to book profit at least in selective mid and Small cap companies. Last week we saw a shift of investors retail, FII as well as DII towards large cap banks and Chemicals. This indicates some sectoral shift also. The Fizz of the rally is dying down as Nifty remained range bound...
Nifty Facing is seemingly facing Strong resistance from a probable temporary top. The high of today 23664 will not be easy to cross for now as the shift in the mood seems to be of profit booking. However if you look at FII and DII numbers very both positive and Nifty ended in negative. This can also be an indication of sectoral shift from the big players towards...
Nifty moving forward on a Parabolic curve. With no much negative trigger it is inching slowly towards the channel top shown in the parallel channel. When you lie by a sword you also die by a sword. When you move up on a parabolic curve there is also a possibility of a down side on a parabola it the rounding top is formed. So investors have to be careful about this...
Hyperbolic formation indicating we are on the edge of the sword. Last time when Nifty saw this kind of Hyperbolic formation markets jumped from 22579 to 23338 and then market fell to 21821 and recovered to make an ATH high of 23490. Similar Hyperbolic formation is seen now indicating similar move on cards for Nifty. We are on edge of sorts where there is a feeling...