Nifty enters March series on a weak note after the Union budget was not well received amidst concerns regarding fiscal deficit. The issue is more about the trust deficit in the market than fiscal deficit and the technical levels have broken indicating larger moves down as long as Nifty does not close above 5825 spot price in this March series.
View for Friday, March 1, 2013:
The Union budget turned out to be a bitter pill for the market and Nifty tanked yesterday and closed below the 144-EMA/SMA level. Now the next support levels are the 233-EMA/SMA levels of 5600/5500. The technical analysts need to take a break now and leave it for the fundamental analysts to create value. The level of 5795 will be the resistance zone for intra day players. Happy trading !!!
View for Monday, March 4, 2013:
Nifty is sell on rise mode after the fall of Thursday and closing just above 5700 on Friday and a few more sessions it might take to recover above 5825 levels in the March series. Support at 5670-5575 and resistance at 5745-5795. Happy trading !!!
View for Tuesday, March 5, 2013:
Nifty closed flat yesterday and will make one more attempt @ retracing towards the 61.8% level of 5950 of the recent fall by this weekend. Trading above 5745 spot price is required for this with a close above 5795 to begin this retracement process. Yesterday's support level of 5665 spot is vital now. Below 5665, look for 5575. Happy trading !!!
View for Wednesday, March 6, 2013:
Nifty support for intra day today at 5745 spot (5765 futures price). Resistance @ 5795-5825 levels. Below 5745 supports at 5690-5655. Happy trading !!!
View for Friday March 8, 2013:
Yesterday's close @ 5863 confirms the trend up. Now to sustain the trend, hourly basis Nifty trading above 5845 is sufficient intra day today to end this week on a high note with targets of 5900-5945 spot price. Weakness only below 5845 levels. The level of 5845-5850 happens to be the 21-EMA/SMA levels. Happy trading !!!
View for Monday, March 11, 2013:
The Nifty is likely to consolidate around 5910 to 5995 levels with attempt to close above 5965 spot today. Happy trading !!!
View for Tuesday, March 12, 2013:
Nifty needs to sustain above 5925 spot price to move towards 6110 levels by this weekend. Failure to form or sustain support @ 5925 can take Nifty towards 5880-5830 today. Resistance is at 5965-5995 level on the upside. Happy trading !!!
View for Wednesday, March 13, 2013:
The Nifty support of 5880 is crucial today below which 5830-5790 are next support zones. Hourly levels remaining above 5925 gives hope for bulls to attempt a close above the resistance level of 5965 spot price (around 5990 futures). Happy trading !!!
View for Thursday, March 14, 2013:
The Nifty trading above 5840 (approx 5860 in futures) on hourly basis can attempt pull back to 5890-5910 levels (approx 5930 futures price). Below 5840 spot price, weakness can take it below 5790. Happy trading !!!
View for Friday, March 15, 2013:
Today's weekend close is important for further course of the Nifty next week. A gap down open below 5900 spot (5920 futures) will be bearish towards yesterday's swing low of 5790. Trading above 5935 spot and closing the week above 5975 (5995 futures) will be bullish. Happy trading !!!
View for Monday, March 18, 2013:
The Nifty continues to put trader's in a confusing state by trading near break out and break down zones. A fresh chart has been added to have a fresh look at the new developing values of spot price based on Fibo time zones. The level of 5825 is now reversal with resistance at 5950 spot (around 5980 futures). Below 5950 spot, The higher end as stated in earlier charts will be 6110 and 6210 levels. Nifty could test the lower levels of 5663 and 5545 support levels in the coming week. Happy trading !!!
View for Tuesday, March 19, 2013:
The Nifty is poised to react with volatility depending on the RBI policy news on rate cuts and the negative bias can turn to positive levels with positive sentiments above 5895 spot price towards a close above 5965-6000 levels. Negative sentiments can pull Nifty down towards 5750-5690 below the level of 5845. The levels between 5845-5875 spot price is a no-trade zone. Happy trading !!!
View for Wednesday, March 20, 2013:
The Nifty is expanding its range to towards the downside after the RBI policy news and other negative news. Now the intra day resistance level will be 5790-5825 on upside and below 5725, supports of 5690-5650 will come into picture. Happy trading !!!
View for Thursday, March 21, 2013:
The Nifty is sliding down but has yet to break the previous swing low of 5663. Below this level, expect 5575-5520. Resistance level with short covering seen @ 5735-5780. Hourly close remaining above 5735 is the key for intra day bulls to enter. Happy trading !!!
View for Friday, March 22, 2013:
The Nifty has closed below the previous swing low of 5663 on spot. Now interestingly the 233-EMA is 5635 and this level might offer some intra day support. Break of this level leads Nifty to 5545-5485 levels. Resistance on the upside is now 5690-5735-5765. Trade safely as volatility is also due to give wild swings. Happy trading !!!
View for Monday, March 25, 2013:
The Nifty is in search of an appropriate support level and closed at 5651 on Friday after making a fresh low with resistance at 5690 spot price. Trading above 5690 spot is the key today for bulls to go long intra day for targets of 5725-5755. Below 5630, intra day shorters will join the positional shorters for targets of 5575-5545. Happy trading !!!
View for March 26, 2013:
The Nifty closed exactly at the 233-EMA level of 5633 yesterday and will try to consolidate around these levels +/- 70-80 points before taking direction. Levels to watch overcoming resistance at 5690 and/or taking support @ 5555. Happy trading !!!
View for March 28, 2013:
The Nifty March series ends today. A flattish trading day will be between 5650-5700 with break out on upside producing 5750 levels. A fall below 5630 spot price can gravitate prices towards 5595-5575. Happy trading !!!
View for Tuesday, March 12, 2013:
Nifty needs to sustain above 5925 spot price to move towards 6110 levels by this weekend. Failure to form or sustain support @ 5925 can take Nifty towards 5880-5830 today. Resistance is at 5965-5995 level on the upside. Happy trading !!!
View for Wednesday, March 13, 2013:
The Nifty support of 5880 is crucial today below which 5830-5790 are next support zones. Hourly levels remaining above 5925 gives hope for bulls to attempt a close above the resistance level of 5965 spot price (around 5990 futures). Happy trading !!!
View for Thursday, March 14, 2013:
The Nifty trading above 5840 (approx 5860 in futures) on hourly basis can attempt pull back to 5890-5910 levels (approx 5930 futures price). Below 5840 spot price, weakness can take it below 5790. Happy trading !!!
View for Friday, March 15, 2013:
Today's weekend close is important for further course of the Nifty next week. A gap down open below 5900 spot (5920 futures) will be bearish towards yesterday's swing low of 5790. Trading above 5935 spot and closing the week above 5975 (5995 futures) will be bullish. Happy trading !!!
View for Monday, March 18, 2013:
The Nifty continues to put trader's in a confusing state by trading near break out and break down zones. A fresh chart has been added to have a fresh look at the new developing values of spot price based on Fibo time zones. The level of 5825 is now reversal with resistance at 5950 spot (around 5980 futures). Below 5950 spot, The higher end as stated in earlier charts will be 6110 and 6210 levels. Nifty could test the lower levels of 5663 and 5545 support levels in the coming week. Happy trading !!!
View for Tuesday, March 19, 2013:
The Nifty is poised to react with volatility depending on the RBI policy news on rate cuts and the negative bias can turn to positive levels with positive sentiments above 5895 spot price towards a close above 5965-6000 levels. Negative sentiments can pull Nifty down towards 5750-5690 below the level of 5845. The levels between 5845-5875 spot price is a no-trade zone. Happy trading !!!
View for Wednesday, March 20, 2013:
The Nifty is expanding its range to towards the downside after the RBI policy news and other negative news. Now the intra day resistance level will be 5790-5825 on upside and below 5725, supports of 5690-5650 will come into picture. Happy trading !!!
View for Thursday, March 21, 2013:
The Nifty is sliding down but has yet to break the previous swing low of 5663. Below this level, expect 5575-5520. Resistance level with short covering seen @ 5735-5780. Hourly close remaining above 5735 is the key for intra day bulls to enter. Happy trading !!!
View for Friday, March 22, 2013:
The Nifty has closed below the previous swing low of 5663 on spot. Now interestingly the 233-EMA is 5635 and this level might offer some intra day support. Break of this level leads Nifty to 5545-5485 levels. Resistance on the upside is now 5690-5735-5765. Trade safely as volatility is also due to give wild swings. Happy trading !!!
View for Monday, March 25, 2013:
The Nifty is in search of an appropriate support level and closed at 5651 on Friday after making a fresh low with resistance at 5690 spot price. Trading above 5690 spot is the key today for bulls to go long intra day for targets of 5725-5755. Below 5630, intra day shorters will join the positional shorters for targets of 5575-5545. Happy trading !!!
View for March 26, 2013:
The Nifty closed exactly at the 233-EMA level of 5633 yesterday and will try to consolidate around these levels +/- 70-80 points before taking direction. Levels to watch overcoming resistance at 5690 and/or taking support @ 5555. Happy trading !!!
View for March 28, 2013:
The Nifty March series ends today. A flattish trading day will be between 5650-5700 with break out on upside producing 5750 levels. A fall below 5630 spot price can gravitate prices towards 5595-5575. Happy trading !!!
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Nifty Future Price