Jul28 Update

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

1.Nifty down by 1.1% with0.4 breadth.
2.115th day since the lows of 5177,181st day since the highs of 6338,69th day since the swing highs of 5906,28th day since the swing lows of 5195.

Nifty closed below 5500 levels with increased volumes.Today was 3rd consecutive down day.Nifty looks weak here.Next few days could see sharp downside moves in Nifty.4800-5000 should act as good support for Nifty.

Jul28 Update

Nifty traded down today with moderate volumes and neutral breadth.Important points for today.

1.Nifty down by 0.5% with 0.78 breadth.
2.114th day since the lows of 5177,180th day since the highs of 6338,68th day since the swing highs of 5906,27th day since the swing lows of 5195.

Nifty closed below 5550 today.Last 2 days Nifty has reversed the gains of 2 days prior to that.For a deeper fall,Nifty shud fall big on friday/monday,If not then Nifty may be Just capitulating in its sideways move before it moves up.Nifty's monthly range till today is 244 points compared to 450 in previous 2 months.This is significant range compression,so next month ie August shud see range expansion in Nifty.

Jul26 Update

Nifty reversed two day's gain today and closed below 5600 levels with moderately high volumes and -ve breadth. Important points for today.

1.Nifty down by 1.9% with 0.4 breadth.
2.113th day since the lows of 5177,179th day since the highs of 6338,67th day since the swing highs of 5906,26th day since the swing lows of 5195.

Nifty dropped sharply today.Last 3 days Nifty has moved sharply(up/down) but within the range.Nifty is preparing itself for a move in either direction.A move past the upper/lower band shall tell where Nifty intends to go.To me short term Nifty is in sideways while medium term trend remains down.

Jul25 Update

Nifty confirmed its upmove by moving closer to 5700 with moderate volumes and neutral breadth.Important points for today.

1.Nifty up by 0.85% with 1.4 breadth.
2.112th day since the lows of 5177,178th day since the highs of 6338,66th day since the swing highs of 5906,25th day since the swing lows of 5195.

Nifty closed above 5650 today.Nifty is in short term upmove now.If Nifty shows strength above 5700 in next 2-3 days, then Nifty may have more upside above 5750-5800 levels but if Nifty falters around 5750 level then Nifty may reverse towards 5200 levels in next 1-2 weeks.

Jul22 Update

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

1.Nifty up by 1.7% with 1.8 breadth.
2.111th day since the lows of 5177,177th day since the highs of 6338,65th day since the swing highs of 5906.

Nifty closed above 5600 level with good volumes.Nifty is in sideways move since many days.Nifty may have topped out at 5728 OR Nifty may make another attempt for 5750+ in another move.Next week Nifty should see some decisive movement as this week turned out to be compressive week with 110 points only.On upside I expect a Fake breakout above 5750 and on downside Nifty could drag down before catching momentum.

Jul21 Update

Nifty was sideways again in narrow range with low volumes and -ve breadth.Important points for today.

1.Nifty down by 0.5% with 0.55 breadth.
2.110th day since the lows of 5177,176th day since the highs of 6338,64th day since the swing highs of 5906.

Nifty closed below 5550 today.Nifty is moving in about 150 point range of 5500-5650 since many days.So possible range breakout targets are 5350/5800.My inclination is still towards upside as a capitulating move.

Jul 20 Update

Nifty dropped below 5600 after attempting 5650 levels with moderate volumes and -ve breadth.IMportant points for today.

1.Nifty down by 0.8% with 0.5 breadth.
2.109th day since the lows of 5177,175t day since the highs of 6338,63rd day since the swing highs of 5906.

Nifty closed below 5600 level after closing above it yesterday.Sideways choppy movement of Nifty continues.I expect to see impulsive move in July expiry(likely to be upmove).Nifty is entering important time zone of next 4-5 weeks.I expect to see increased volatility from now till August Expiry.

Jul19 Update

Nifty bounced up today and closed above 5600 levels with low volumes and neutral breadth.Important points for today.

1.Nifty up by 0.8% with 1.6 breadth.
2.108th day since the lows of 5177,174th day since the highs of 6338,62nd day since the swing highs of 5906.

Nifty closed above 5600 with somewhat increased volumes than previous two days, indicating short term Nifty may have started its climb up.Follow up move is required now.This move I expect to be the capitulating move and could go all the way upto ~5800 levels.

Jul18 Update

Nifty was rangebound in narrow range with low volumes and neutral breadth.Important points for today.

1.Nifty down by 0.3% with 1.15 breadth.
2.107th day since the lows of 5177,173rd day since the highs of 6338,61st day since the swing highs of 5906.

Nifty closed marginally in the red with very low volumes.Nifty's volumes are drying up on declines in this sideways movement of few days.This indicates that Nifty should start with an upmove soon.My expectation is that this next upmove is likely to be capitulating move of the upside move that started from 5195.

Jul14 Update

Nifty crossed 5650 levels with moderate volumes but could not sustain till close.Important points for today.

1.Nifty up by 0.3% with 1.4 breadth.
2.105th day since the lows of 5177,171st day since the highs of 6338,59th day since the swing highs of 5906.

Nifty closed just below 5600 levels.Nifty may undergo one more downleg to complete the fall from 5740-5496.But if Nifty closed above 5650 level in 1-2 days then Nifty is likely headed to 5750+ levels early next week.

Jul13 Update

Nifty bounced back today though with low volumes and +ve breadth. Important points for today.

1.Nifty up by 1.1% with 2.6 breadth.
2.105th day since the lows of 5177,171st day since the highs of 6338,58th day since the swing highs of 5906.

Nifty bounced and closed above 5550 levels.I expect Nifty here to make highs above 5750 in this upmove in next few days.If Nifty does not go much above 5750(ie stays within 5850 zone) then this may also be capitulation move before Nifty moves down again.

Jul12 Update

Nifty had a big down day with moderate volumes and -ve breadth.Important points for today.

1.Nifty down by 1.6% with 0.35 breadth.
2.104th day since the lows of 5177,170th day since the highs of 6338,57th day since the swing highs of 5906.

Nifty closed below 5600 levels today.After gap down opening, Nifty remained weak all through the day and closed towards the lower end of range.I see Nifty staying weak for another day or so before bouncing up towards 5700 levels towards weekend.Today was 16th day since the swing low of 5195.

Jul11 Update

Nifty continued its slide down but the volumes wer low and breadth neutral. Important points for today.

1.Nifty down by 0.75% with 0.67 breadth.
2.103rd day since the lows of 5177,169th day since the highs of 6338,56th day since the swing highs of 5906.

Nifty's pullback is about 2.2% down.Today's volumes were low indicating that downside here should be limited.Tomorrow's closing will be important as I expect Nifty to reverse/bottom out and move up.Alternately Nifty could remain in narrow range for 1-2 days also before shooting up.

Jul8 Update

Nifty pulled back after closing above 5700 with moderate volumes and -ve breadth. Important points for today.

1.Nifty down by 1.2% with 0.47 breadth.
2.102nd day since the low of 5177,168th day since the highs of 6338,55th day since the swing highs of 5906.

Nifty pulled back with down close of 1.2% .This was the second pullback in this 14 day rally since 5195.5500-5550 should provide support to Nifty on downside.I expect Nifty to move above 5750 in coming days.Since Nifty has managed to go Just about 35 point above first +ve swing high of 5705,I expect that Nifty would likely top out in 5750-5850 zone If it goes past 5750 in next 1-2 weeks.

Jul7 Update

Nifty surged above 5700 today with good volumes and +ve breadth.Important points for today.

1.Nifty up by 1.8% with 2.3 breadth.
2.101st day since the lows of 5177,167th day since the highs of 6338,54th day since the swing highs of 5906.

Nifty moved up after its narrow range movement of 3 days.Nifty has done a close above 5700.Strength of Nifty above 5700 has to be seen in next few days to see How many legs of upside may be there.Only if Nifty shows strength with volumes above 5700,I expect Nifty to open its next leg up towards 5950-6000 levels.

Jul7 Update

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

1.Nifty down by 0.15% with 1.0 breadth.
2.100th day since the lows of 5177,166th day since the highs of 6338, 53rd day since the swing highs of 5906.

Nifty moved in 45 point range today.This week's range is 96 points till today and there should be range expansion of 50-100 points in next 2 days.Upside looks stalled here as Nifty has not attempted 5700 again in 3 days since it crossed 5700.Failure at 5700 again would be a strong signal of Nifty moving down.

Jul5 Update

Nifty traded in narrow range with low volumes and neutral breadth. Important points for today.

1.Nifty down by 0.3% with 1.0 breadth.
2.98th day since the lows of 5177,165th day since the highs of 6338,52nd day since the swing highs of 5906.

Nifty has got into narrow range movement after friday's pullback.Nifty has not yet attempted a go at 5700 again.I expect Nifty to reattempt 5700 again and the strength around those levels will decide whether Nifty would remain in this upmove for more or 5700 would prove to be a turning point.

Jul4 Update

Nifty was rangebound today with low volumes and +ve breadth. Important points for today.

1.Nifty up by 0.4% with 2.0 breadth.
2.98th day since the lows of 5177,164th day since the highs of 6338,51st day since the swing highs of 5906.

Nifty moved in a narrow range of 46 points today.Today was 10th day since the swing lows of 5195.Short term trend is up but I see this upmove as sideways move within a medium term downtrend.Nifty made an impulsive move of 9 days from 5906 -5443.Since then I see Nifty's move as sideways with -ve bias.So I expect Nifty to make an impulsive downswing before it enters into medium term up.

Jul1 Update

Nifty jumped above 5700 at open but slide back and closed in the red with moderate volumes and neutral breadth. Important points for today.

1.Nifty down by 0.4% with 1.5 breadth.
2.97th day since the lows of 5177,163rd day since the highs of 6338,50th day since the swing highs of 5906.

Nifty closed above 5600 for 3rd consecutive day.Nifty pulled back back from 5700+ levels indicating some resistance at the level.Since last weeks saw a sharp upmove of 5% on weekly basis,so Nifty can go into sideways move with narrow range for next 1/2 weeks before it moves higher.Short term trend is up,medium term trend is down.