Jun30 Update

Nifty continued with its upmove and crossed 5650 levels with high volumes(expiry) and neutral breadth. Important points for today.

1.Nifty up by 0.8% with 1.2 breadth.
2.96th day since the lows of 5177,162nd day since the highs of 6338,49th day since the swing highs of 5906.

Nifty was up for the 8th consecutive day and 2nd day above 5600.Nifty is likely to do 2nd consecutive +ve weekly closing tomorrow.Upside look limited from here,So Nifty may either attempt to reverse from here or it may enter into narrow range movement with upward bias for next few weeks.

Jun29 update

Nifty moved above 5600 with moderate volumes and +ve breadth. Important points for today.

1.Nifty up by 1.0% with 1.85 breadth.
2.95th day since the lows of 5177,161st day since the highs of 6338,48th day since the swing highs of 5906.

Nifty closed just above 5600 levels for the first time after falling below it.Today was 7th day of upmove.Next two days of the week would be interesting to see How Nifty closed on monthly/weekly basis.Any further upmove and close above 5650 will give renewed momentum to the upmove but failure could lead to sudden downfall.

Jun28 Update

Nifty moved in a narrow range with moderate volumes. Important points for today.

1.Nifty up by 0.3% with 1.2 breadth.
2.94th day since the lows of 5177,160th day since the highs of 6338,47th day since the swing highs of 5906.

Nifty was up for the 6th consecutive day.This is very fast retracement of the fall from daily high of 5592(13 days to 5257).This makes me doubt the character of this upmove being a bounce before a impulsive move.Next 1.5 weeks are going to be critical as Nifty is likely to take a swing either way in coming days.

Jun27 Update

Nifty continued with its upsurge and closed above 5500 with moderate volumes and neutral breadth.Important points for today.

1.Nifty up by 1.0% with 1.4 breadth.
2.93rd day since the lows of 5177,159th day since the highs of 6338,46th day since the swing highs of 5906.

Nifty was up for the 5th consecutive day.Nifty has done faster retracement of the 4 day fall from 5500+ to 5195.Medium term trend of Nifty remains down.So I expect this upmove to be followed by new lows.

Jun24 Update

Nifty had a big upmove with moderately high volumes and +ve breadth. Important points for today.

1.Nifty up by 2.9% with 3.7 breadth.
2.92nd day since the lows of 5177,158th day since the highs of 6338,45th day since the swing highs of 5906.

Nifty closed above 5450 on weekly closing.Nifty dropped by about 375 points from 5570 and has bounced back about 300 points in 4 days.If Nifty starts retracing again next week then Nifty would likely break 5177 levels by about 3-5%.But if Nifty remains above 5400 all of next week,then Nifty may have entered into a short term upmove for next few days/weeks.

Jun23 Update

Nifty bounced up moderately and closed above 5300 levels with low volumes and neutral breadth. Important points for today.

1.Nifty up by 0.8% with 0.75 breadth.
2.91st day since the lows of 5177,157th day since the highs of 6338,44th day since the swing highs of 5906.

Nifty closed above 5300 today and expanded its day range to 78 points after getting compressed to 48 points yesterday.Upside from here is limited, so Nifty could fall down from here now.Medium term bottom for Nifty should be near both in terms of days as well as Price.

Jun22 Update

Nifty moved in a very narrow range with low volumes and -ve breadth. Important points for today.

1.Nifty flat with 0.47 breadth.
2.90th day since the lows of 5177,156th day since the highs of 6338,43rd day since the swing highs of 5906.

Nifty's range has compressed to less than 50 today amid very low volumes.Nifty is likely just taking a breather here before starting to move down.So any close below 5250 should be restart of downside impulsive move.Today's range compression is quite high being 48 points only,so Nifty could try to reverse tomorrow .

Jun21 Update

Nifty was quite today after yesterday's big move with low volumes and neutral breadth. Important points for today.

1.Nifty up by 0.35% with 0.65 breadth.
2.89th day since the lows of 5177,155th day since the highs of 6338,42nd day since the swing highs of 5906.

Nifty moved in 65 point range.Nifty may move in 5200-5350 range for some days here OR it may drop down to around 5000 levels by the end of this week.Nifty is not gaining momentum after sharp drop , this to me indicates that downside is limited and Nifty may try to capitulate here by dropping sharply but moderately in price action.

Jun20 Update

Nifty cracked down today with moderately high volumes and -ve breadth. Important points for today.

1.Nifty down by 2.0% with 0.14 breadth.
2.88th day since the lows of 5177,154th day since the highs of 6338,41st day since the swing highs of 5906.

Nifty closed below 5300 today with increased volumes and wide range.Nifty has started its impulsive downmove.Today's range was quite high of 182 points.Today was 4th consecutive down day.I would expect Nifty to drift down to lows/near lows within next few days before it goes into sideways move again.The coming days of this week are likely to see increased volatility.

Jun17 Update

Nifty continued its slow descent with low volumes and -ve breadth. Important points for the day.

1.Nifty down by 0.6% with 0.35 breadth.
2.87th day since the lows of 5177,153rd day since the highs of 6338,40th day since the swing highs of 5906.

Nifty closed below 5400 for the 2nd day.Nifty can crack down from here if this is an impulsive move or still Nifty may keep sliding down and then pick up momentum in an impulsive manner.Beacuse of the time taken till now since the swing highs of 5906, I don't expect a Major cut in Nifty ie not below 4700-4800.My expectations are for Nifty to drop down below 5000 levels and create capitulation.

Jun16 Update

Nifty slid below 5400 levels today with moderate volumes and -ve breadth. Important points for today.

1.Nifty down by 1.0% with 0.45 breadth.
2.86th day since the lows of 5177, 152nd day since the highs of 6338,39th day since the swing highs of 5906.

Nifty closed below 5400 levels.The slide from 5500+ to below 5400 level has been moderate.In terms of time ,market is well positioned for an impulsive move.If that is the case I expect Nifty to break down by next week.The monthly range till today is 215 points.

Jun15 Update

Nifty slid down and closed below 5450 with low volumes and -ve breadth.Important points for today.

1.Nifty down by 1.0% with .52 breadth.
2.85th day since the lows of 5177,151st day since the highs of 6338,38th day since the
swing highs of 5906.

Nifty came down today but would need another day to confirm downmove.Nifty's move in this week has been 84 points till today and 168 points on monthly range.If impulsive downmove begins,I expect a big slide to around 5000-5100 in st line.

Jun14 Update

Nifty was again in narrow sideways move of only 36 point with low volumes and neutral breadth. Important points for today.

1.Nifty up by 0.35% with 1.2 breadth.
2.84th day since the lows of 5177,150th day since the highs of 6338,37th day since the swing highs of 5906.

Nifty continues with its sideways action within narrow range.I expect Nifty should breakout above 5600 (marginally) to setup for a impulsive move in the down direction.That would be a capitulation of the sideways action since first week of may.Monthly range till now is 168 points,so coming days should see Nifty expanding its monthly range also.

Jun13 Update

Nifty moved down today but recovered later on to close just below 5500 with low volumes and neutral breadth. Important points for today.

1.Nifty down by 0.7% with1.0 breadth.
2.83rd day since the lows of 5177,149th day since the highs of 6338,36th day since the swing highs of 5906.

Nifty traded in the red but closed towards upper end of trading range.Volumes are very low in the sideways movement of Nifty since last few days.Since last week was big compression week with range of 113 points, so can expect start of impulsive move this week.

Jun10 Update

Nifty slid below 5500 amid narrow range sideways fashion with low volumes. Important points for today.

1.Nifty down by 0.7% with 0.55 breadth.
2.82nd day since the lows of 5177,148th day since the highs of 6338,35th day since the swing highs of 5906.

Nifty closed below 5500 and is down by 0.5% on weekly basis.I expect a move of about 500 points in next 2-3 weeks timeframe.Let us see which way Nifty is going to break the range! Since 6000 looks less likely, so I am more inclined towards a downside.

Jun9 Update

Nifty stays in a tight range with low volumes and neutral breadth. Important points for today.

1.Nifty down by 0.1% with 0.8 breadth.
2.81st day since the lows of 5177,147th day since the highs of 6338,34th day since the swing highs of 5906.

Nifty's range for this week till today is 91 points.I expect some range expansion to happen tomorrow.If Nifty closes out tomorrow with range of ~100 points,I would expect that next week will likely see a volatile move by Nifty.So Nifty is approaching its range break soon.Also monthly range for June is 125 points till today which also is likely to expand in next 3 weeks.

Jun8 Update

Nifty continued with its narrow range sideways move with low volumes and neutral breadth. Important points for today.

1.Nifty down by 0.5% with 0.8 breadth.
2.80th day since the lows of 5177,146th day since the highs of 6338,33rd day since the swing highs of 5906.

Nifty moved in a range of 42 points today.The sideways movement of Nifty continues and was 24th day today after 9days of down move.16 days to go in June expiry/monthly,so range breakout is expected in the month of June,as continuing this sideways move for another 16 days will stretch things a lot.

Jun7 Update

Nifty continued with its sideways movement with low volumes and neutral breadth. Important points for today.

1.Nifty up 0.45% with 1.4 breadth.
2.79th day since the lows of 5177,145th day since the highs of 6338,32nd day since the swing highs of 5906.

Nifty closed above 5550 today but the sideways narrow range movement continues.Timewise Nifty is at critical juncture.My view remains on bearish side ie I expect an impulsive downmove after the sideways correction is over.

Jun6 Update

Nifty dipped below 5500 but closed above it with very low volumes and neutral breadth. Important points for today.

1.Nifty up by 0.3% with 0.8 breadth.
2.78th day since the lows of 5177,139th day since the highs of 6338,31st day since the siwng highs of 5906.

Nifty stays in sideways range within range of 5328-5605.Break of this range could result in a momentum move.Since the previous impulsive move was down , so I expect that the next impulse would be down , since the sideways movement doesnot exhibit that Nifty is bottoming out around 5300 zone.

Jun3 Update

Nifty moved in about 50 point range and closed below 5550 with low volumes and -ve breadth.

1.Nifty down by 0.7% .
2.77th day since the lows of 5177,143rd day since the highs of 6338,30th day since the swing highs of 5906.

Nifty ended the week with a gain of 0.8%.This was first +ve weekly closing after 5 consecutive -ve closings.Nifty could likely now see its Leg2 of downturn.My targets for Nifty remain 4800-5000 levels in next few weeks.

Jun2 Update

Nifty dipped in the morning but recovered later with moderate volumes and -ve breadth.Important points for today.

1.Nifty down by 0.8% with 0.5 breadth.
2.76th day since the lows of 5177,142nd day since the highs of 6338,29th day since the swing highs of 5906.

Nifty managed to close just above 5550 after dropping at the open.Nifty reversed all of yesterday's move.if Nifty does not close above 5592 in next 2 days then Nifty may have ended its move that started from 5328.Timewise, Nifty's move may well be over.

Jun1 Update

Nifty moved in a very narrow range of 38 points with low volumes and +ve breadth. Important points for today.

1.Nifty up by 0.6% with 1.8 breadth.
2.75th day since the lows of 5177,141st day since the highs of 6338,28th day since the swing highs of 5906.

Nifty has a very narrow range today and this indicates that Nifty is near a inflection point.Nifty has been in sideways movement after 9 days of impulsive downmove.So next move shud likely be a downside move lasting 5-9 days of impulse.

May31 Update

Nifty moved up above 5550 with high volumes and +ve breadth. Important points for today.

1.Nifty up by 1.8% with 2.5 breadth.
2.74th day since the lows of 5177,140th day since the highs of 6338,27th day since the swing highs of 5906.

Nifty closed above 5550 and today was the 4th day of the upmove that started from 5328.Nifty's breadth was good today indicating that Nifty has more scope to move upwards.This week is Likely to be up week but may just be a bounce in a multi week decline of Nifty.