Nifty Update

Nifty Charts :

Daily Chart :

Nifty formed doji candlestick on daily chart. Doji near channel support shows indecision. Tonight we have FED metting , expecting a wild action in Nifty tomorrow. 

Hourly Chart :

Two channels (Red and Blue) which i am following are marked in chart above. Slope of channel just got stepper , suggesting impatient bears. 

Blue channel resistance : 8056

Red  channel resistance : 8096

21HEMA                       : 8122

34HEMA                       : 8180

5DLEMA                       : 8115

From the above set of numbers we can conclude that Nifty needs a move above 8096-8122 for pause in fall. Untill then Nifty remains firmly in bear grip :). 

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Happy Trading. 

DISCLAIMER:

All the views and contents mentioned in this blog are merely for educational purposes and are not recommendations or tips offered to any person(s) with respect to the purchase or sale of the stocks / futures. I do not accept any liability/loss accruing from the use of any content from this blog. All readers of this blog must rely on their own discretion and neither any analyst nor any publisher shall be responsible for the outcome.

 

 

 

Nifty Update

Nifty Chart:

We discussed about BN 350 points rectangle in yesterday post and today we had a spectacular fall :)..  

Coming back to Nifty

Today's closing is exactly at 61.8 per retrace level of 7724-8627.

Channel support at 8044 which is moving down by around 10 points per hours. So tomorrow morning channel support will be around 8034-32 region. It also coincides with GAP support.

If Nifty manages to hold 8030-8035 zone then some pullback can be seen. But as long as Nifty remains in the channel(for aggressive) and for conservative traders below 34 hour ema it will remain weak. 

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Happy Trading. 

DISCLAIMER:

All the views and contents mentioned in this blog are merely for educational purposes and are not recommendations or tips offered to any person(s) with respect to the purchase or sale of the stocks / futures. I do not accept any liability/loss accruing from the use of any content from this blog. All readers of this blog must rely on their own discretion and neither any analyst nor any publisher shall be responsible for the outcome.

Nifty & Bank Nifty Update

Nifty Chart:

As discussed in weekend post nifty took support exactly at channel bottom and consolidated for whole day. Channel resistance and support level for next hour are marked in green. A move past today's day high of 8242 will break channel. But only a move above 8277- 8300 zone will be a first sign of mild bullishness. 

Bank Nifty Chart:

Bank nifty is consolidating in rectangle pattern. A move past any of the levels marked in chart above, will give a 350 points move. 

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Happy Trading. 

DISCLAIMER:

All the views and contents mentioned in this blog are merely for educational purposes and are not recommendations or tips offered to any person(s) with respect to the purchase or sale of the stocks / futures. I do not accept any liability/loss accruing from the use of any content from this blog. All readers of this blog must rely on their own discretion and neither any analyst nor any publisher shall be responsible for the outcome.

Nifty Elliot Wave Count

Nifty Chart:

Elliot wave count for Nifty is marked in chart above. Currently we are wave iii of wave 5. 

I closely follow 68 days moving average which is at 8181 

Gap support at 8180

50% fibo extension for wave 5 8170

Hourly channel support at 8158

5mcema is at 8149

So we have a support band in 8150-8180 range and I expect impulse wave started from 8627 to finish in this band.. 

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You can also register your mail id on right hand side of blog to receive update straight to your mailbox.

Happy Trading. 

DISCLAIMER:

All the views and contents mentioned in this blog are merely for educational purposes and are not recommendations or tips offered to any person(s) with respect to the purchase or sale of the stocks / futures. I do not accept any liability/loss accruing from the use of any content from this blog. All readers of this blog must rely on their own discretion and neither any analyst nor any publisher shall be responsible for the outcome.

Nifty Elliot Wave Count

Nifty:

Provided that 7837 holds, above is my preferred Elliot wave count. Target for wave v comes around 8250.

DISCLAIMER:

All the views and contents mentioned in this blog are merely for educational purposes and are not recommendations or tips offered to any person(s) with respect to the purchase or sale of the stocks / futures. I do not accept any liability/loss accruing from the use of any content from this blog. All readers of this blog must rely on their own discretion and neither any analyst nor any publisher shall be responsible for the outcome.

Pre market update

Bank Nifty:

Nifty:

EOD Update

Bank Nifty:

Nifty:

Probable IHNS in banknifty

Bank Nifty:

Nifty:

Pre Market Update

Bank Nifty

Nifty:

Pre market update

Bank Nifty:

Nifty:

Pre market update

Bank Nifty

Nifty

Nifty and BN both paused at trend line support . More weakness only if it breaks it ..

Update -II

Bank Nifty:

Nifty:

At channel support and near HNS target zone..

Update -1

Bank Nifty:

Triangle broken on down side.

Nifty:

Pre market chart update

Bank Nifty:

Nifty:

Chart update -1

Bank Nifty:

Nifty:

Weekly update

Bank Nifty:

Nifty:

Update 2

Bank Nifty:

Below 16120 it ill go into positional sell mode.

Nifty :

Supspected HNS discussed yesterday has neckline at 8060.

Chart update 1

Bank Nifty

Nifty:

Update 2

Bank Nifty

Nifty :

Probably heads and shoulder forming...

Update -1

Bank Nifty

Nifty