View for Friday, July 26, 2013:
The August series becomes the current month series today after July series ended below the crucial support level of spot price 5935 (20-DMA level now. As per the chart above, a change in trend will be only above 5980 spot price on weekly closing basis. Today being a weekend and also beginning of the current month series provides this opportunity for Nifty. It is short on rise mode till then with reversal pegged at 5980 on closing basis.
View for Monday, July 29, 2013:
The Friday close of Nifty is below all short term EMAs/SMAs and the crucial levelto be watched is 89-SMA of 5857 below which is the 233-EMA/SMA levels of 5760/5799. The RBI policy news tomorrow will be the trigger for any positive change. Till then it is "sell on rise mode" with reversal pegged @ 5935 spot on closing basis. Happy trading !!!
View for Tuesday, July 30, 2013:
A big day for the market with RBI policy announcement likely today which might ultimately turn out to be a non-event. Technically Nifty trading above 5895 can take it towards and above the 21-DMA level of 5930. Close above this level is prerequisite for fresh positional buying. Below 5840, the 233-EMA/SMA levels (5800-5762) is ready to welcome Nifty. Happy trading !!!
View for Wednesday, July 31, 2013:
The Nifty has closed below short term and long term EMA/SMA. Now the previous support levels are the next targets for bears viz., 5690-5630. Short term bounce up to 5860 is possible and now reversal will now be only above the 89-EMA/SMA level of 5860. Happy trading !!!
View for Thursday, August 1, 2013:
The Nifty ended the month of July below all long term EMA/SMA combo and now comes the time to test these levels in form of resistance. A close above the 233-SMA level of 5797 spot is the key for confirmation of short term reversal primarily driven by short covering rally. Happy trading !!!
View for Friday, August 2, 2013:
Today being the weekend, a close above the 5-EMA/DMA level of 5790/5815 will infuse a short covering rally will infuse a short covering rally on the upside towards 5865. Below 5745/5753, the (3-EMA/SMA), Nifty is in sell mode on hourly closing basis for targets below 5675 towards 5635. Happy trading !!!
The Nifty will face resistance around 5810 levels as per the most recent chart analyzed above and the price profile of 5810-5665-5485 is the trading zone. For today (August 16th weekly close), the level of 5755 is vital on hourly closing basis. Happy trading !!!
The Nifty has broken all short term EMA levels on Friday and closed well below that putting it in a sell on rise mode. Intra day players will watch for previous swing low of 5475 to hold @ least till EOD tomorrow hoping for short covering rally. Below 5475, next levels are 5395-5365. The exit pressure in cash market will likely be around 5565-5595 levels. Happy trading !!!
The multi-year pivot level of 5365 is crucial to be held on closing basis for Nifty. Bias will remain bearish with resistance at 5425-5480 levels. Below 5365, major support levels previously has been @ 5210-5180 levels. Happy trading !!!
With recovery from the new low of 5306 yesterday, the retracement process of the fall can now take Nifty past 5425-5480. Overcoming resistance and close above 5480-5500 level is the key for bulls to build long positions. Level of 5395 is important to be held on hourly closing basis for intra day bulls. Below 5395 on hourly closing basis, the fall will continue to new lows below 5306. Happy trading !!!
View for Wednesday, August 28, 2013:
View for Tuesday, July 30, 2013:
A big day for the market with RBI policy announcement likely today which might ultimately turn out to be a non-event. Technically Nifty trading above 5895 can take it towards and above the 21-DMA level of 5930. Close above this level is prerequisite for fresh positional buying. Below 5840, the 233-EMA/SMA levels (5800-5762) is ready to welcome Nifty. Happy trading !!!
View for Wednesday, July 31, 2013:
The Nifty has closed below short term and long term EMA/SMA. Now the previous support levels are the next targets for bears viz., 5690-5630. Short term bounce up to 5860 is possible and now reversal will now be only above the 89-EMA/SMA level of 5860. Happy trading !!!
View for Thursday, August 1, 2013:
The Nifty ended the month of July below all long term EMA/SMA combo and now comes the time to test these levels in form of resistance. A close above the 233-SMA level of 5797 spot is the key for confirmation of short term reversal primarily driven by short covering rally. Happy trading !!!
View for Friday, August 2, 2013:
Today being the weekend, a close above the 5-EMA/DMA level of 5790/5815 will infuse a short covering rally will infuse a short covering rally on the upside towards 5865. Below 5745/5753, the (3-EMA/SMA), Nifty is in sell mode on hourly closing basis for targets below 5675 towards 5635. Happy trading !!!
View for Monday, August 5, 2013:
The cluster of EMA/SMA of different time frames are around 5850-5865 zone with the 233-EMA developing @ 5759 at the beginning of this week. Nifty closing below all these levels over previous week will face huge resistance and selling pressure around 5865-5910 range on bounce back. Support formation @ 5715/57 (3-SMA) is essential for fresh buying. Below 5650 spot, levels of 5590-5555 look to be the next support levels. Happy trading !!!
View for Tuesday, August 6, 2013:
The Nifty has paused at the crucial support levels of 5650 over the past couple of sessions and forming a stable trading zone between 5650-5800. Support levels on break of 5650 are 5615-5580. A close above the resistance level 5765 signals short covering rally towards 5850-5910. Happy trading !!!
The Nifty has paused at the crucial support levels of 5650 over the past couple of sessions and forming a stable trading zone between 5650-5800. Support levels on break of 5650 are 5615-5580. A close above the resistance level 5765 signals short covering rally towards 5850-5910. Happy trading !!!
View for Wednesday, August 7, 2013:
With all technical levels having been broken decisively, pull back to 5665 levels will be the heavily resisted level now. The level of 5555 spot (5590 futures approx) once again becomes important for intra day retail traders on hourly closing basis. Support below 5520, will be this year's lowest swing level of 5477 spot and 5375. Happy trading !!!
With all technical levels having been broken decisively, pull back to 5665 levels will be the heavily resisted level now. The level of 5555 spot (5590 futures approx) once again becomes important for intra day retail traders on hourly closing basis. Support below 5520, will be this year's lowest swing level of 5477 spot and 5375. Happy trading !!!
View for Thursday, August 8, 2013 :
The Nifty made another new low yesterday near to previous swing low of the year and currently trading just above the low of the year 2013. A double bottom scenario exists currently on the charts and major moves can be expected only after the long weekend. For intra day the level of 5575 spot (5610 futures approx) will be the hourly closing level to watch to trade the range long towards 5665 or short towards 5465. Happy weekend. Happy trading !!!
The Nifty made another new low yesterday near to previous swing low of the year and currently trading just above the low of the year 2013. A double bottom scenario exists currently on the charts and major moves can be expected only after the long weekend. For intra day the level of 5575 spot (5610 futures approx) will be the hourly closing level to watch to trade the range long towards 5665 or short towards 5465. Happy weekend. Happy trading !!!
View for Monday, August 12, 2013 :
The 5-EMA/SMA are at 5600 and the 8-EMA/SMA is 5650-5665 levels. These are the intra day bull targets for the day. Below 5565, the bearishness of the previous week will continue. Happy trading !!!
View for Tuesday, August 13, 2013:
With negative IIP numbers and SBI results after market hours yesterday, today the Nifty reaction likely to be choppy and bearish below 5575 spot price. Now break out zone is above 5645 levels towards 5690+ close for bulls. Below 5575, the bears will exert pressure sell more to break the swing lows and get a close below 5485. Happy trading !!!
View for Wednesday, August 14, 2013:
The Nifty having closed above the short term EMA/SMAs (3/5/8 levels) will now attempt to close above the 13/21 EMA/SMA levels of 5710-5775 levels today. Weakness will be now only below yesterday's break out level of 5645 levels. Happy trading !!!
View for Monday, August 12, 2013 :
The 5-EMA/SMA are at 5600 and the 8-EMA/SMA is 5650-5665 levels. These are the intra day bull targets for the day. Below 5565, the bearishness of the previous week will continue. Happy trading !!!
View for Tuesday, August 13, 2013:
With negative IIP numbers and SBI results after market hours yesterday, today the Nifty reaction likely to be choppy and bearish below 5575 spot price. Now break out zone is above 5645 levels towards 5690+ close for bulls. Below 5575, the bears will exert pressure sell more to break the swing lows and get a close below 5485. Happy trading !!!
View for Wednesday, August 14, 2013:
The Nifty having closed above the short term EMA/SMAs (3/5/8 levels) will now attempt to close above the 13/21 EMA/SMA levels of 5710-5775 levels today. Weakness will be now only below yesterday's break out level of 5645 levels. Happy trading !!!
View for Wednesday, August 16, 2013:
The Nifty will face resistance around 5810 levels as per the most recent chart analyzed above and the price profile of 5810-5665-5485 is the trading zone. For today (August 16th weekly close), the level of 5755 is vital on hourly closing basis. Happy trading !!!
View for Monday, August 19, 2013:
The Nifty has broken all short term EMA levels on Friday and closed well below that putting it in a sell on rise mode. Intra day players will watch for previous swing low of 5475 to hold @ least till EOD tomorrow hoping for short covering rally. Below 5475, next levels are 5395-5365. The exit pressure in cash market will likely be around 5565-5595 levels. Happy trading !!!
View for Tuesday, August 20, 2013:
The multi-year pivot level of 5365 is crucial to be held on closing basis for Nifty. Bias will remain bearish with resistance at 5425-5480 levels. Below 5365, major support levels previously has been @ 5210-5180 levels. Happy trading !!!
View for Wednesday, August 21, 2013:
With recovery from the new low of 5306 yesterday, the retracement process of the fall can now take Nifty past 5425-5480. Overcoming resistance and close above 5480-5500 level is the key for bulls to build long positions. Level of 5395 is important to be held on hourly closing basis for intra day bulls. Below 5395 on hourly closing basis, the fall will continue to new lows below 5306. Happy trading !!!
View for Thursday, August 22, 2013:
With Nifty making yet another new low yesterday @ 5268 and bouncing back to close @ 5302, the next bounce back (support) levels are 5180-5145. Resistances assume importance now as it is "short on rise mode" and is at 5395-5425 levels. Happy trading !!!
View for Friday, August 23, 2013:
Nifty has created a lower low yesterday and a lower high over two days and bias will change to positive only trading above 5425 spot on hourly closing basis and EOD closing above 5500. These levels are being resisted and formidable supply zones. Below 5395, another lower low below 5255 is a strong probability. Happy trading !!! 
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