Nov21 Update

Nifty  moved up decisively above 8450 with higher volumes and -ve breadth. Important points for today.

1. Nifty up by 0.9% with 0.75 breadth.
2. 296th day since the lows of 5118, 194th day since the lows of 5933.

Nifty closed above 8450 today. Today's range was 91 points and weekly range was 140 points. Nifty has crossed 8450 and sustaining that, 8550 is the next resistance level. 8400 is now the support level for Nifty. Monthly range now stands at 199 points with 5 days to go.

Nov20 Update

Nifty bounced off from 8350 levels to above 8400 amid moderate volumes and -ve breadth. Important points for today.

1. Nifty up by 0.25% with 0.58 breadth.
2. 295th day since the lows of 5118, 193rd day since the lows of 5933.

Nifty tested 8350 levels and bounced later to close above 8400 level. Nifty has found support at 8350 level and if this is retained then Nifty to make new highs above 8500 soon. Todays range was 57 and weekly/monthly range remain at 106/165 points till today.

Nov19 Update

Nifty slipped below 8400 today amid higher volumes and -ve breadth. Important points for today.

1. Nifty down by 0.5% with 0.52 breadth.
2. 294th day since the lows of 5118, 192nd day since the lows of 5933.

Nifty made a higher high at open and slipped after that to close in the red below 8400. Todays range was 90 points and Weekly range stands at 106 points. Nifty closed just above 7ema today.  Further weakness below 7ema will lead to Nifty seeking lower support at 8200 levels ie consecutive hourly closing below 8350 indicate short top formation at 8455. But if Nifty retains 8350 level , then newer high may come by early next week above 8500 level. Monthly range is 164 points till today. Monthly range expansion is very likely by atleast 80-100 points, so 8290 Or 8455 will breach by ~100 points in this expiry.

Nov18 Update

Nifty opened positive and moved above 8450 level but came down later to close mildly in red with higher volumes and neutral breadth.

1. Nifty down by 0.05% with 1.2 breadth.
2. 293rd day since the lows of 5118, 191st day since the lows of 5933.

Nifty closed nearly flat and touched 8450 level Intraday. Nifty is trading in narrow range with small upside since last 10 days after breakout move above 8180 level. Trendline resistance stands ~@8450 level , so correction is round the corner in Nifty.   Downside support exists at 8350/8200 level. Today's range was 47 points and weekly at 105 points till today.

Nov17 Update

Nifty moved above 8400 today amid higher volumes and neutral breadth. Important points for today.

1. Nifty up by 0.5% with 1.15 breadth.
2. 292nd day since the lows of 5118, 190th day since the lows of 5933.

Nifty hovered between 8350-8400 till afternoon but moved above 8400 and closed above it towards closing. Today's range was 89 points and monthly range stands at 148 points till today. Another 1-2 days, if Nifty survives and closes above 8400, rapid upmove may happen. Weakness to emerge only below 8350 now.

Nov13 Update

Nifty had a mini pullback today with higher volumes and -ve breadth. Important points for today.

1. Nifty down by 0.3% with 0.63 breadth.
2. 290th day since the lows of 5118, 189th day since the lows of 5933.

Nifty opened above 8400 level but came down to test lower 8300 levels before closing just above 8350. If Nifty stays above 8300, it can move for new highs above 8415 but below 8300, 8200 can come very soon. in the absence of big momentum upmove above 8450, Nifty is likely to exhaust itself above 8450 levels. Weekly/Monthly range stays at 111/125 levels till today.

Nov12 Update

Nifty today crossed 8400 level but closed below it. Important points for today.

1. Nifty up by 0.25% with 1.0 breadth.
2. 290th day since the lows of 5118, 182nd day since the lows of 5933.

Nifty moved in 45 point range crossing 8400 intraday but closed below it. Nifty is inching upwards since last 6 days having moved 61 points in 6 days. 8400-8450 is Daily trendline resistance zone and Nifty has bumped into it today. Unless 8450 is crossed and close above it for 2 days, Nifty may undergo pullback from here. Weekly/Monthly range stand at 111/125 points till today. On downside 8200 is main support of Nifty.