Markets moved perfectly while staying below the 15850 area. Now the supports around 15620 (minor) holds while major is around 15450. On the upside break of 15850 is needed as minimum to assume near term bottom. Technically no signs yet to that. However, the momentum of downside for today may be slowing. Suffice to say play 15630-15830 range with 50 point stop.
Nifty bulls obliged the bears allowing much more deeper correction than asked for. On the daily, market pierced the mid-Bollinger band and currently rest at 34 Day Moving Average. Ideally this should result in a bounce. Near term it is sell on rallies, hence continue to view from that perspective. Bulls scope opens up only on close above 15040 which is far. Near...
Nifty bears trigger the move, go past 15040 and deeper. The close near the 15000 is the only silver line for the bulls. The declining trailing line for the bears now moves to 15150-180 range for negating the downward view. On the down side 14750 is one probable level to watch. Consider this fall from 15400 as healthy correction in an otherwise bull phase. For the...
Nifty bulls loosing the momentum. The upmove is stalled around 15340 and inching towards break of 15030-40. Close below 15000 warns deeper correction towards 14750 min. Position for that ? Looks emphatic yes Close above 15300 negates
Breaking. Res zone. But stop 38 aggressive. 40.30 conservative. For 55 min ideal 72
NIFTY one more time reacted to style. Bulls on the back foot. Momentum and Oscillators suggest that the up move lacks for push to one more high. Supply zone gets lowered towards the 15300-340 now, while the support zone looks shaky. Any closing break of 15040 would call for deeper correction towards 13750 (without providing any technical inputs this can unfold)....
Nifty moved to the script. Ability to hold the gains near 15400 petered and move near 15200 met with support. The resistance is now lowered in the range of 15340-380 for move towards the 15100 area. Extension to 15040 is not ruled out. Shorts with conservative stops of 15340 or 380 is suggested for this move.
The base shifts to 15200 now; while this holds move to 15416 is seen where one can expect some supply. Today may not open with huge gap and thus one can look for entry or exit. 15200-15400 range should work with 40 pips either side. Please note bulls have edge in these markets than bears. Sans few selective spaces.
Dips remained shallow while profit taking was on account of week end and short term over bought. Indications are for one more high. If the markets open with a gap then difficult to suggest entry. New base 15040 above this one move towards 15400’seen.
Bears failure to close lower n bulls ability to close 15150 plus suggest attempt to higher first than lower. Near term base 15050 to hold (stops for longs) for new high Suggest longs on dips 15120-100. For 15250-80
Pause after huge weekly gains. Near term 14800-15200 to drive with profit taking as the theme. Select spaces remain choice for both bulls and bears. Near term tiny shorts 15180 Stops 15240 for 14960
Big picture still holds for more gains while near term higher level consolidation is what one can look for. More importantly sectorial rotation is keeping the broad market in good shape. Stay in PSU space for some more gains. For the day 14690-15100 should work.
Bears took more than anticipated towards 13700. Global cues and oversold conditions to give relief rally. Bulls need to pass 14200 test if they need to assert dominancy. It remains sell on rallies and hence any up move would be short lived. On the downside 13680-700 is very strong to give some sort of fight. 13700-14100 is the range before we see next directional move.
Measured double top targets comes around 14750-780 that appears to be the direction. With global cues too moving into the red, the local events take a pause. Near term 14110 holds for move towards 13800 or 13770-750. Ideally we move down first than up. No longs suggested before the expected target is met. Trailing stops for shorts remain 14110 or new shorts...
Failed near the resistance zone the fall provided intraday rally closed near the lows. 14230 is important on close basis. Potential double top to take it to 13800. Shorts stops and 14410. Longs not preceded save short rallies.
From buy on dips we move sell on rallies. How deep it can go is to be seen. Near term 14450-480 caps stops for shorts. One move 14270 is in order with a minor bounce. Trade on short side.
Nifty bulls made attempts towards the range high then the steep fall. This suggests the risk of sharp moves on higher levels to witness even on slightest hint of negative news. The fall has been sharper going deeper into the lower range. Big picture range 14230-14730. Within this bias now neutral to slight softer bias. Shorts with stops 14680-700 should work for...
Nifty bulls continue to hold the upper hand. One move towards 14730-780 is in order while we stay above the 14530. Probability of bears reduced considerably and the focus is on buying the dips with trailing stops. With events ahead the market mood remains firmly to the upside. For the day 14600-14730 should work sans 30 points either way.