Dec28 Update

Nifty bounced again to close above 5900 levels with lower volumes and neutral breadth. Important points for today.

1. Nifty up by 0.7% with 1.4 breadth.
2. 528th day since the highs of 6338, 252nd day since the lows of 4531.

Nifty remains confined in very narrow range of about 150 points since last 5 weeks. Breakout/breakdown is imminent in coming days.This week's range was 86 points.Quarterly/Yearly range remains at 417/1377 points with 1 day to go while monthly range is at 142 points till today.

Dec27 Update

Nifty drifted lower again from 5930 levels with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.5% with 0.6 breadth.
2. 527th day since the highs of 6338, 251st day since the lows of 4531.

Nifty drifted lower again.Range for this month till today is only 142 points with only 2 days to go.Sub 200 point monthly range is not recorded by Nifty since last few years.If Nifty expands the range downward in 2 days, then Nifty is headed down but if Nifty stays within this range then uncertainty will continue into next week.

Dec26 Update

Nifty moved up above 5900 with low volumes and neutral breadth. Important points for today.

1. Nifty up by 0.7% with 1.4 breadth.
2. 526th day since the highs of 6338, 250th day since the lows of 4531.


Nifty took another upturn closing above 5900 levels.If Nifty is headed up in an impulsive move, then it should move up above 5950 closing basis in next 2 days of this week.But if Nifty falters again below 5900/5850 level on weekly closing basis then deeper downsides may happen in January. Monthly/Quarterly ranges have not changed in this week so far.

Dec24 Update

Nifty was wayward today with low volumes and neutral breadth. Important points for today.

1. Nifty up by 0.15% with 1.0 breadth.
2. 525th day since the highs of 6338.249th day since the lows of 4531.

Nifty moved in 28 point range today.With only 4 days to go, Nifty may only expand its monthly range while Quarterly/Yearly range may end at 417/1377 points.This is contraction quarter as well year.Nifty has likely completed its short term upmove but whether medium term upmove form 5032 OR from 4531 has been completed will only be known in next few weeks.

Dec20 Update

Nifty moved around 5900 levels with moderate volumes and neutral breadth without any direction. Important points for today.

1. Nifty down by 0.25% with 0.67 breadth.
2. 523rd day since the highs of 6338, 247th day since the lows of 4531.

Nifty closed mildly in the red.Nifty remains indecisive and in range between 5820-5965.Breach of extremes should give some indication of further movement.Nifty's Monthly range is 142 points with 6 days to go.Monthly range should see some expansion in remaining 6 days. Yearly range is likely to remain 1378 points as of today, turning to be narrowest range in last few years.

Dec19 Update

Nifty closed above 5900 levels amid narrow range and higher volume. Important points for today.

1. Nifty up by 0.6% with 1.3 breadth.
2. 522nd day since the highs of 6338, 246th day since the lows of 4531.

Nifty moved in a very narrow range of 29 points.Nifty has moved to previous swing highs of 5930 now.It is likely to push further up but if the momentum remains same, them upsides should be marginal only.No change in Monthly/Quarterly/Yearly range today with 7 days to go.

Dec18 Update

Nifty after a brief dip rallied to 5900 levels with higher volumes and neutral breadth. Important points for today.

1. Nifty up by 0.7% with 1.4 breadth.
2. 521st day since the highs of 6338, 245th day since the lows of 4531.

Nifty regained some strength with a close around 5900.Today's range was 82 points indicating Nifty may be entering a period of expanding Range.Monthly range is 142 points and Quarterly range remains at 417 points.If Nifty goes past 6000 levels, then strength above 6000 will decide how far Nifty may survive above that level.There is likelihood that Nifty's 6000+ move may be capitulation of upmove from 5548 OR from 4531.

Dec17 Update

Nifty had another dull day with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 0.4% with 1.15 breadth.
2. 520th day since the highs of 6338, 244th day since the lows of 4531.

Nifty spent another day in narrow range of 36 points.Another flare up in Nifty could open the gates for further upsides above 6000 Or it could be a culminating move, depending on how Nifty manages to close this week.Quarterly/yearly range remains the same at 417/1378 points.

Dec14 Update

Nifty moved in a 47 point range in another dull day with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.5% with 0.9 breadth.
2. 519th day since the highs of 6338, 243rd day since the lows of 4531.

Nifty closed the week  0.5% down.Range for this week was 126 points after 111 point range of previous week.Next week Nifty is likely to attempt higher levels again and if Nifty fails to close above 5950 on weekly closing then chances of Nifty's reversal will increase.But if Nifty closes flat to -ve on weekly closing , then there is a good chance that December end to January should see  a big slide in Nifty.Range of Nifty remains 417/1378 on quarterly/Yearly basis.

Dec13 Update

Nifty slide down today with higher volumes and -ve breadth. Important points for today.

1. Nifty down by 0.65% with 0.23 breadth.
2. 518th day since the highs of 6338, 242nd day since the lows of 4531.

Nifty Slid further today to close just above 5850.Staying above 5800 level, Nifty could again attempt 5950+ level. Nifty's reaction at 5950 will decide the further bullish/bearish scenario going ahead.Quarterly/Yearly range remains at 417/1378 points.

Dec12 Update

Nifty had inside day today with higher volumes and neutral breadth. Important points for today.

1. Nifty down by 0.2% with 0.8 breadth.
2. 517th day since the highs of 6338, 241st day since the lows of 4531.

Nifty again closed below 5900 levels though it was marginally down on closing basis. Only if Nifty attempts 5950 again and fails and closes below 5815 levels will confirm the reversal in Nifty. Initial signs of exhaustion are there but daily closing around 5800 is needed to confirm the downtrend.With only 12 days to go in this month , Nifty's yearly range stands at 1378 points till today.

Dec11 Update

Nifty gave up the early gains to end below 5900 levels with high volumes and -ve breadth. Important points for today.

1. Nifty down by 0.2% with 0.5 breadth.
2. 516th day since the highs of 6338, 240th day since the lows of 4531.

Nifty sold off from 5950+ levels and ended below 5900 levels.Unless Nifty tears apart 6000=+ levels with big thrust , there is good chance of Nifty having topped out at 5950+ levels and completed its medium term move from 4531 levels.First confirmation of medium term Top will be breach of 5838 levels on daily/weekly closing basis. Monthly/Yearly range stands at 127/1378 points.

Dec10 Update

Nifty moved in a tight range of 33 points with moderate volumes and neutral breadth. Important points for today.

1. Nifty flat with 1.0 breadth.
2. 515th day since the highs of 6338, 239th day since the lows of 4531.

Nifty moved around 5900 in a listless manner.Today was 12th day since the swing lows of 5548 and 7th day since the breakout above 5800 levels.Nifty's lack of momentum above 5800 signals that further upside should be limited.No range expansion today.

Dec7 Update

Nifty failed to cross 5950 levels and closed just above 5900 with higher volumes and neutral breadth. Important points for today.

1. Nifty down by 0.4% with 1.4 breadth.
2. 514th day since the highs of 6338, 238th day since the lows of 4531.

Nifty moved in 111 point range this week after big breakout of last week.Nifty after staging a 260 point range last week has compressed a lot this week. This puts question on the breakout above 5815 being fake.If that is the case Nifty may attempt 5950-6000 levels again and retreat sharply down from there in coming weeks.Monthly/Yearly range stands at 111/1361 points.

Dec6 Update

Nifty after completing a short term correction below 5850 powered up to close above 5900 levels with higher volumes and neutral breadth. Important points for today.

1. Nifty up by 0.5% with 1.3 breadth.
2. 513th day since the highs of 6338, 237th day since the lows of 4531.

Nifty closed above 5900 levels.Today's end was sensational though price upmove on closing basis is modest.Today was 5th day after Nifty broke out above previous highs of 5815. Nifty's move since has been modest in price movement. Today was 11th day of upmove from 5548.Monthly/Quarterly range stands at 104/396 points. If Nifty does not gather price momentum in next week, then this is a sign of weakness and good chance of Nifty reversing from here and making a medium term Top.

Dec5 Update

Nifty consolidated its breakout above 5800 levels with higher volumes and neutral breadth. Important points for today.

1. Nifty up by 0.2% with 1.4 breadth.
2. 512th day since the highs of 6338, 236th day since the lows of 4531.

Nifty after breaking out above 5800 levels has not shown bif price upmoves, though volumes are good in pause mode. If Nifty keeps on moving up in gliding fashion, then there is good chance of this being the capitulating move of the upmove that started started from 4531. Weekly/Monthly range stands at 63 points in 3days. Yearly/Quarterly range is 1329/369 points. 

Dec3 Update

Nifty paused and consolidated its breakout above 5800 levels with moderately high volumes and +ve breadth. Important points for today.

1. Nifty down by 0.15% with 2.5 breadth.
2. 510th day since the highs of 6338, 234th day since the lows of 4531.

Nifty moved in 45 point range and remained above 5850 levels.Today was 8th day from the swing lows of 5548.How Nifty makes the next upmove will give indication about the sustainability of this upmove.From the medium term lows of 4770 in June, Nifty has made two impulsive moves of 5 weeks of 570/600 points. The current move is 351/2weeks as of today.Another few 100 points could very well be insight. YearlyQuarterly range stands at 1311/351 points with 19 days to go.

Nov30 Update

Nifty moved up on higher volumes with mildly bullish breadth. Important points for today.

1. Nifty up by 0.9% with 1.6 breadth.
2. 510th day since the highs of 6338, 232nd day since the lows of 4531.

Nifty has closed the weekly with a gain of 4.5%. This upside breakout is with increased volumes , so it has some strength in it.Monthly range for November stands at 327 points which is same as quarterly range also while yearly range is 1297 points. The current move should extend to 6000-6100 levels before any pause in Nifty is there.Nifty may or may not cross all time highs. I expect that by around middle of December, Nifty may nearly exhaust itself up.

Nov29 Update

Nifty broke on the upside above 5800 with high volumes and +ve breadth. Important points for today.

1. Nifty up by 1.7% with 1.5 breadth.
2. 508th day since the highs of 6338, 232nd day since the lows of 4531.

Nifty has given a decisive breakout on the upside having closed above the previous highs of 5815 .Further sharp upmoves are expected now in the coming days.I think 6300 is the next significant resistance for Nifty now.Monthly range now stands at 285 points and yearly range is 1245 points till today. Range is now very likely going to be extended on the upside by atleast 200-300 points.

Nov27 Update

Nifty bounced up with higher volumes and +ve breadth. Important points for today.

1. Nifty up by 1.6% with 2.0 breadth.
2. 507th day since the highs of 6338, 231st day since the lows of 4531.

Nifty is heading into resistance zone of 5750-5800 levels. If Nifty crosses this, then expect to see some quick upmove in next 1-2 weeks time.Chances of Nifty breaking through the resistance are good, since the correction/consolidation of last 6-7 weeks is shallow and Nifty has not corrected below 5550 levels besides repeated attempts.Monthly range remains at 229 points with 2 days to go.

Nov26 Update

Nifty moved in a very narrow range day with moderately low volumes and neutral breadth. Important points for today.

1. Nifty up by 0.2% with 1.3 breadth.
2. 506th day since the highs of 6338, 230th day since the lows of 4531.

Nifty moved in 26 point range and closed mildly in the green.Wayward movement continues within 200-250 point range.Monthly range for this month stands at 229 points with 3 days to go and yearly range is 1227 points.Chances of upside breakout above 5800 are more.

Nov23 Update

Nifty halted its ascend amid low volumes and neutral breadth. Important points for today.

1. Nifty flat with 0.75 breadth.
2. 505th day since the highs of 6338, 229th day since the lows of 4531.

Nifty ended the week with gain of about 0.9%.Range for this month remains at 229 points and for this quarter stands at 267 points.Range expansion for this quarter is very much due and should happen any time with expiry week being among good times for this.I expect that the upmove that started from 4531 in last december may be reaching its end with one final upmove above 6000.

Nov22 Update

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

1. Nifty up by 0.2% with 1.15 breadth.
2. 504th day since the highs of 6338, 228th day since the lows of 4531.

Nifty stayed above 5600 today though volumes were low.Nifty is still moving in its sideways range of 200-250 points.Bias remains on +ve side , since Nifty has not broken on downside in its repeated attempts. Monthly and Yearly range stand at 229/1227 points .

Nov21 Update

Nifty managed to close above 5600 today though with lower volumes and neutral breadth. Important points for today.

1. Nifty up by 0.8% with 1.0 breadth.
2. 503rd day since the highs of 6338, 227th day since the lows of 4531.

Nifty closed above yesterday's high and didnot breach yesterday's low, so that is bullish if Nifty sustains it for another 2 days.Monthly range remains at 229 points and yearly range is 1227 points till today.Expect to see range expansion in 5.5 weeks left in this year.

Nov20 Update

Nifty attempted 5600+  levels but could not survive and closed below it with lower volumes and -ve breadth. Important points for today.

1. Nifty flat with 0.4 breadth.
2. 502nd day since the highs of 6338,226th day since the lows of 4531.

Nifty in last 2-3 days looks like capitulating in its sideways correction. Now if this is correction in an upside , Nifty could move up swiftly from here. But if this has started a bear wave then Nifty could keep on sliding down.The direction should make itself clear by end of this week. Monthly range stands at 229 points till today.

Nov19 Update

Nifty moved around 5550 without dipping any further with lower volumes and -ve breadth. Important points for today.

1. Nifty up by 0.1% with 0.43 breadth.
2. 501st day since the highs of 6338, 225th day since the lows of 4531.

If Nifty jumps from here to 5700 and above in next few days and closes above 5700 on weekly close then 6000+ levels could be seen in next 1-2 weeks.Monthly range stands at 228 points till now.Yearly range till now is 1227 points. There is a good possibility of a range expansion of 200-300 points happening here for yearly range. Given that current Nifty is near highs of that range , so 6000-6100 may come in next 2-3 weeks.

Nov16 Update

Nifty dropped down below 5600 thereby breaking previous low it made few days back. Important points for today.

1. Nifty down by 1.0% with 2.2 breadth.
2. 500th day since the highs of 6338, 224th day since the lows of 4531.

Nifty has again broken the range below 5600 levels.The rise from earlier low of 5583 has been completely retraced in shorter time.Lower levels should follow and Nifty may have made a medium term Top at 5815 in first week of october. This assumption  holds true if Nifty does not rebound from here in next few days. Nifty though is right at support line joining the June/July lows.This week's range stands at 158 points and Monthly range is 218 points.

Nov15 Update

Nifty slid further down today with higher volumes and -ve breadth. Important points for today.

1. Nifty down by 0.65% with 0.55 breadth.
2. 499th day since the highs of 6338, 223rd day since the lows of 4531.

Nifty was down for 5th consecutive day. Nifty has been up as well as down for 5/6 consecutive days but inside the 200 point range of 5600-5800.Though i see that upside capitulation move is pending, so breakout should occur soon, But if Nifty breaches 5500 levels then downside scenario may be appearing. Weekly/ Monthly range stand at 115/176 points with 11 days to go in this month.

Nov12 Update

Nifty traded narrowly in about 40 points with moderately high volumes and neutral breadth. Important points for today.

1. Nifty flat with 0.80 breadth.
2. 497th day since the highs of 6338, 221st day since the lows of 4531.

Nifty was down for 3rd consecutive day. Nifty remains stuck in 200 point range. Diwali is usually a turning point of the trend.Volumes were good today being highest in about a month.No clear Buy/Sell signals as the range bound move continues.

Nov9 Update

Nifty dropped down below 5700 levels with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.9% with 0.44 breadth.
2. 496th day since the highs of 6338, 220th day since the lows of 4531.

Nifty again got resisted at higher 5700 levels and dropped below 5700 levels.Nifty remains in sideways trading range with 5th week of consolidation after 5 weeks of upmove.This week's range was 100 points after 128 points in previous week.Monthly range is 176 points.Unless Nifty closes above 5800 or below 5550 , Nifty remains stuck in sideways trading range.

Nov8 Update

Nifty corrected tody to test lower 5700 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 0.4% with 0.8 breadth.
2.495th day since the highs of 6338, 219th day since the lows of 4531.

Nifty mildly corrected after 6 consecutive days of advance.Nifty it seems has formed a good base around 5600-5700 levels as launchpad for going to higher levels.Medium term upmove remains intact as no significant lower levels have been broken.Expect to see higher levels in coming days/weeks. This week's range is 98 points till today.Last week was 128 points, so if this week is less than that, then previous week's range expansion has been halted.

Nov7 Update

Nifty broke out of its 100+ point range with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.55% with 1.5 breadth.
2. 494th day since the highs of 6338, 218th day since the lows of 4531.

Nifty has now broken on the upside of the 100 point range.Today was 6th consecutive up day of Nifty. This could be a strong upmove with a modest start as consecutive days of upmove indicates that breakout has more chances of being real, so fast moves may follow from here.Monthly range is 176 points and weekly range is 98 points till today.

Nov2 Update

Nifty gapped up and crossed 5700 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.9% with 1.4 breadth.
2. 491st day since the highs of 6338, 217th day since the lows of 4531.

Nifty moved in a very narrow range of 29 points after opening gap up. Nifty has moved up on 3rd consecutive day.Nifty has undergone sideways movement in 200 points range since last few weeks.If this shallow move has ended, then Nifty should find upside momentum in coming days to propel it to all time highs.November monthly range is 110 points in 2days.

Nov1 Update

Nifty traded with +ve bias today above 5600 with moderately low volumes and +ve breadth. Important points for today.

1. Nifty up by 0.5% with 1.8 breadth.
2. 490th day since the highs of 6338, 216th day since the lows of 4531.

Nifty traded above 5600 today and closed in the green for 2nd consecutive day.If Nifty remains +ve for next 2-3 days , then very likely Nifty may have completed its sideways movement and started its ascent upwards. Today's range stands at 48 points and weekly range is 118 points till today.

Oct31 Update

Nifty moved around 5600 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.4% with 1.25 breadth.
2. 489th day since the highs of 6338,215th day since the lows of 4531.

Nifty continues with its rangebound narrow directionless movement.Nifty has closed below 5630-5640 that was support for few days but has not gone down much below that.I think that tells that Nifty has support at lower levels but not triggers to take it up.Unless Nifty regains momentum, upside will be difficult and 5500-5550 should act as good support levels for any bullish possibility to remain.Monthly range ended with 232 points.

Oct30 Update

Nifty slipped below 5600 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 1.2% with 1.45 breadth.
2. 488th day since the highs of 6338, 214th day since the lows of 4531.

Nifty's has  broken its range on the downside. If the downside limits around here with 50-60 points then this could be the capitulation of the sideways movement of last few weeks. But if Nifty closes below 5500 levels, then further lows could be seen quickly in next few days.Monthly range now stands at 226 points and weekly range is 100 points till today.

Oct29 Update

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

1. Nifty flat with 0.65 breadth.
2. 487th day since the highs of 6338, 213th day since the lows of 4531.

Nifty continues to trade in a clueless fashion.Unless upper/lower end of Range breaks, directionless trading will continue.But October has range of only 182 points till today and this is very narrow range.Nifty remains in medium term upmove since lower support levels are retained till now.

Oct26 Update

Nifty slid further today with lower volumes and +ve breadth.Important points for today.

1. Nifty down by 0.75% with 1.5 breadth.
2. 486th day since the highs of 6338, 212th day since the lows of 4531.

Nifty closed the week in the Red.Nifty has now been in correction for 3 weeks after 5 weeks of upmove. Nifty should see a breakout/breakdown move soon since it is moving in a narrow zone of about 100 points for last few days.Monthly range is confined to 182 points only till now.This week's range was 79 points only.Yearly range is 1227 points till now.4588-5815 are the endpoints of the range.few 100 points expansion is very much likely probably on upside in coming days.

Oct25 Update

Nifty moved in a narrow range on expiry day with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.25% with 0.7 breadth.
2. 485th day since the highs of 6338, 211st day since the lows of 4531.

Nifty's range today was only 33 points.With only 4 days to go in October, Monthly range is 182 points in this highly volatile month of October.Some range expansion should happen in next 4 days.If Nifty maintains +ve bias in next 2 days, expect Nifty to breakout during last 1-2 days of this month.Barring the plunge to sub 5000 levels in Nifty on Oct5, Nifty's quarterly range also stands at 182 points till today.

Oct23 Update

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

1.Nifty down by 0.45% with 0.7 breadth.
2. 484th day since the highs of 6338, 210th day since the lows of 4531.

Nifty again backtracked from around 5720 levels to close below 5700 levels.In this rangebound move Nifty has not broken 5630 on lower side and finding 5730+ as resistance on higher side.Break of this range should bring some trading opportunities, though I expect Nifty to break on upside in coming days.Monthly/Weekly range is 182/63 points till today.

Oct22 Update

Nifty started the week on a positive note and closed above 5700 with moderately low volumes. Important points for today.

1. Nifty up by 0.7% with 0.9 breadth.
2. 483rd day since the highs of 6338, 209th day since the lows of 4531.

Nifty again closed above 5700 levels.Whether Nifty has regained enough momentum to take it further up will be known in next few days, if Nifty keeps moving up for next couple of days.Monthly range stands at 182 points only with 6 days left in this month.5633-5815 are the current endpoints for this month's range. Range expansion is very much likely to happen in the remaining few days of the month.Breach at either end should be the probable direction of the next move.

Oct19 Update

Nifty was sideways with moderate volumes and neutral breadth.Important points for today.

1. Nifty down by 0.75% with 0.65 breadth.
2. 482nd day since the highs of 6338, 208th day since the lows of 4531.

Nifty closed the week at about same level as last week.Range for this week was 89 points.Since last 4 weeks , Nifty is moving in about 200 point range.Medium term upmove is intact till now, since Nifty has not broken the lower levels.So if range expansion takes place on upside, it could see good move in short timeframe.Monthly range stands at 182 points.

Oct18 Update

Nifty bounced today above 5700 with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 1.0% with 1.9 breadth.
2. 481st day since the highs of 6338, 207th day since the lows of 4531.

Nifty closed above 5700 today with good breadth.If Nifty continues its upward momentum, more upsides could be seen in coming weeks.This week's range till today is 89 points, while monthly range is 182 points. Higher levels look more likely as of now.

Oct17 Update

Nifty moved in 50 point range with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.2% with 0.8 breadth.
2. 480th day since the highs of 6338, 206th day since the lows of 4531.

Nifty has taken support at sub 5650 levels multiple times now,only indicates that support is coming in at lower 5600 levels. Any close above 5700 now, should put Nifty in a short term upward momentum.Nifty after rising by 600 points has done a shallow correction of 180 points only , indicating that goop buying support is coming in. Nifty could see new highs if it sustains above recent highs of 5800 for few days.Monthly range stands at 182 points. 

Oct16 Update

Nifty could not sustain higher levels and closed below 5650 levels with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.75% with 0.6 breadth.
2. 479th day since the highs of 6338, 205th day since the lows of 4531.

Nifty attempted 5700+ levels but gave up the gains to close below 5650 levels.Nifty could go lower from here but if Nifty manages to claw back to 5700+ level on closing basis in next 2-3 days , then it is likely that Nifty may have completed its sideways move between 5600-5800 zone.Fresh longs should be initiated on Nifty showing strength moving above 5700 levels.Monthly range remains at 180 points.

Oct15 Update

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

1. Nifty up by 0.2% with 1.0 breadth.
2. 478th day since the highs of 6338, 204th day since the lows of 4531.

Nifty was in 42 point range today.Nifty may keep moving in 5650-5800 range for some days.If level of 5650 is maintained and 5800 is taken around expiry, fast upside move could be expected in that case.Monthly range remains at 179 points. October till now is very low range.I expect range expansion in october around/after expiry time.

Oct12 Update

Nifty gave the gains it had yesterday amid moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 0.6% with 0.8 breadth.
2. 477th day since the highs of 6338, 203rd day since the lows of 4531.

Nifty closed the week with a loss of 1.25% confirming that Nifty is in short term correction/consolidation phase.If this corrective phase leads to Nifty doing weekly closing below 5550-5600 then , it may be bearish turnaround else if Nifty sustains 5600+ level than higher levels should be there in coming weeks. This week's range was 115 points and monthly range till today stands at 179 points.

Oct11 Update

Nifty bounced later in the day to close above 5700 levels with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 1.0% with 1.8 breadth.
2. 476th day since the highs of 6338, 202nd day since the lows of 4531.

Nifty has bounced twice from around 5650 levels, indicating that 5600+ is providing some support to Nifty.If Nifty sustains 5700+ levels till next week then new all time highs are possible before Diwali.A decisive breakout above 5800 should clear the way to 6300 levels. Weekly and monthly range stands at 115/179 points.

Oct10 Update

Nifty traded in a narrow range with -ve bias with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.90% with 0.35 breadth.
2. 475th day since the highs of 6338, 201st day since the lows of 4531.

Nifty moved in 39 point range and closed just above 5650 levels.Today was 4th day since Nifty reversed from around 5800 levels.Breadth was -ve today but the volumes were low indicating that downside in terms of price may be limited from here but Nifty may remain sideways for some more days.Monthly range today stands at 168 points and weekly range is 104 points.

Oct9 Update

Nifty traded in a 51 point range with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.5% with 1.2 breadth.
2. 474th day since the highs of 6338, 200th day since the lows of 4531.

Nifty traded within yesterday's range and managed to close above 5700 levels.Between 5600-5800, Nifty remains in sideways movement. Monthly range remains at 149 points and this week's range is 85 points till today.

Oct8 Update

Nifty came down today amid moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 1.2%  with 0.8  breadth.
2. 473rd day since the highs of 6338, 199th day since the lows of 4531.

Nifty closed below 5700 today after sustaining above 5700 all of last week.Nifty is likely pausing/consolidating the gains here and may spend more time hovering in 200-300 point range of 5600-5900.Today's range was 85 points and monthly range stands at 149 points till today.

Oct5 Update

Nifty corrected from 5800+ levels with high volumes and -ve breadth. Important points for today.

1. Nifty down by 0.7% with 0.42 breadth.
2. 472nd day since the highs of 6338, 198th days since the lows of 4531.

Nifty dad an erroneous plunge of 900 points but it closed just below 5750 levels. Given the high volumes supporting the -ve breadth, Nifty may have entered into short term correction within a medium term upmove. Nifty remains in firm upmove on weekly scale but may be consolidating the move to 5700+ now.Range for this quarter remains at 121 points (not including the erroneous signal) after first week.If Nifty keeps hovering in 5600-5900/6000 zone for next 2-3 weeks, that should be bullish sign for the coming weeks.  

Oct4 Update

Nifty crossed 5800 today amid high volumes and neutral breadth. Important points for today.

1. Nifty up by 0.6% with 1.6 breadth.
2. 471st day since the highs of 6338, 197th day since the lows of 4531.


Nifty moved up and closed above 5750 levels. Nifty is edging upwards though in a slow manner but the upmove is showing lot of promise as Nifty has not undergone greater than 1% correction in last 4-5 weeks. This kind of move should evolve into strong thrusting move towards the end.Nifty expanded the range today. Monthly/Weekly range now stands at 113 points.

Oct3 Update

Nifty inched upwards amid narrow range with higher volumes. Important points for today.

1. Nifty up by 0.25% with 1.6 breadth.
2. 470th day since the highs of 6338, 196th day since the lows of 4531.

Nifty is moving in a very narrow range since last few days.Since Nifty is in medium/short term upmove, so this narrow range is likely to resolve itself in the upward direction with a thrusting move soon.Range for this week/month remains at 49 points in 2days.

Oct1 Update

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

1. Nifty up by 0.3% with 1.9 breadth.
2. 469th day since the highs of 6338,195th day since the lows of 4531.

Nifty protected 5700 levels though the range was only 28 points.Nifty has cleared the hurdle of 5600 decisively having done weekly close above 5650 for2 weeks and in sideways consolidation only corrected by 50 points indicating support at 5600+ levels.So next significant resistance that Nifty should attempt is the all time highs of 6300+.This is a start of new quarter and Nifty's range in the 3 quarters of this year have been 1041/608/703 points.New All time highs for Nifty is very much possible in this quarter.

Sep28 Update

Nifty bounced above 5700 with moderately high volumes and neutral breadth. Important points for today.

1. Nifty up by 1.0% with 1.5 breadth.
2. 468th day since the highs of 6338, 194th day since the lows of 4531.

Nifty closed the month/week above 5700.Today was 4th consecutive up week of Nifty.Range for this week was quite low at 97 points.Monthly/quarterly range ended at 520/703 points after today's move.Nifty paused for few days after breaking out above 5450 levels. But Nifty's correction was limited to barely 1% (closing basis).Nifty remains in medium term upmove and short term consolidation.Looking ahead , Nifty on beginning its upmove should scale new highs above 6350 in coming weeks.

Sep27 Update

Nifty traded in yesterday's range with -ve bias amid higher volumes and neutral breadth. Important points for today.

1. Nifty down by 0.25% with 1.1 breadth.
2. 467th day since the highs of 6338, 193rd day since the lows of 4531.

Nifty has not done anything in this week and the range is only 71 points till today. Tomorrow is new series and Nifty should expand its weekly range on the last day of Month/Quarter.Monthly/Quarterly range stands at 505/688 points till today and is likely to remain same by tomorrow also.

Sep26 Update

Nifty moved in sideways consolidation with moderately high volumes and neutral breadth. Important points for today.

1. Nifty down by 0.2% with 1.0 breadth.
2. 466th day since the highs of 6338, 192nd day since the lows of 4531.

Nifty has entered into narrow trading band of about 71 points in 3 days after big upside breakout from 5450.Next 1-2 days should clear up whether Nifty may spend more time consolidating on downside or it is ready to go further up.Monthly/Quarterly range remain at 505/688 points with 2 days to go.I don't expect much expansion in the range in next 2 days, but next quarter should see higher range than this quarter.

Sep25 Update

Nifty was ranged in 50 point with high volumes and neutral breadth. Important points for today.

1. Nifty up by 0.1% with 1.1 breadth.
2. 465th day since the highs of 6338, 191st day since the lows of 4531.

Nifty traded between 5650-5700.In 2 days of this week, Nifty's range is 57 points.Big Movement is expected after expiry.Deeper cut if happens in next few days will be an opportunity to buy.

Sep24 Update

Nifty moved sideways today after friday's big move with higher volumes and neutral breadth. Important points for today.

1. Nifty down by 0.4% with 1.6 breadth.
2. 464th day since the highs of 6338, 190th day since the lows of 4531.

Nifty is consolidating the gains scored in previous week.Nifty staying above 5500-5550 levels may just be pausing after big move in last 3 weeks.If Nifty stays sideways between 5500-5700+ this week, then I would expect that Nifty would likely resume the uptrend in next weeks.Monthly/Quarterly range remain at 505/688 points.Yearly range stands at 1132 points till today.Since next quarter is the last quarter, and Nifty has broken on upside , so yearly range expansion of 400-500 is likely to happen in next quarter.This after today's closing gives target of 6100-6200 levels.

Sep21 Update

Nifty powered up with strong volumes to surpass 5700. Important points for today.

1. Nifty up by 2.5% with 2.25 breadth.
2. 463rd day since the highs of 6338, 189th day since the lows of 4531.

Nifty closed up strongly.Today was 3rd consecutive up week.Nifty has rallied 433 points(8.3% ) in 3 weeks. Today's weekly closing is above the previous feb highs of 5629, indicating Nifty is in strong uptrend now. Next upside resistance comes at around 5950-6000 and then 6300 levels. These levels could be possible in next few weeks.With today's move Nifty's monthly and quarterly range now stand at 505/688 points.

Sep20 Update

Nifty underwent moderate correction and closed just above 5550 today. Important points for today.

1. Nifty down by 0.8% with 0.52 breadth.
2. 462nd day since the highs of 6338, 188th day since the lows of 4531.

Nifty opened gapped down today and closed near day's low with moderately high volumes and neutral breadth.Volumes though high but were less than the breakout days.Nifty is in short term correction and the next trigger point is when Nifty closes above 5650 levels.Only a close below 5400 levels would indicate that Nifty's breakout was false.Monthly/Quarterly range remain at 432/620 points with 6 days to go.

Sep18 Update

Nifty was sideways today in a narrow range with higher volumes. Important points for today.

1. Nifty down by 0.18% with 1.6 breadth.
2. 461st day since the highs of 6338, 187th day since the lows of 4531.

Nifty sustained 5600 levels on closing basis though it was muted price movement.Volumes remained high in Nifty.Increased volumes breakout lends credibility to this breakout and should likely resume in next few days without seeing any deeper correction (not below 5450).Monthly/Quarterly range remain at 437/620 points with 7 days to go.

Sep17 Update

Nifty tested 5650 levels but retraced to close just above 5600 levels. Important points for today.

1. Nifty up by 0.6% with 1.45 breadth.
2. 460th day since the highs of 6338, 186th day since the lows of 4531.

Nifty today crossed the feb highs of 5629. Nifty has crossed the feb highs on weekly/daily basis. This breakout is happening after 7 months and looking at Nifty's momentum in last 2 weeks, Nifty has good chance os surprising on upside.Monthly/Quarterly range after today's move has expanded to 437/620 points. While yearly range now stands at 1074 points.

Sep14 Update

Nifty broke out strongly above 5450 levels amid high volumes and neutral breadth. Important points for today.

1. Nifty up by 2.9% with 1.2 breadth.
2. 459th day since the highs of 6338, 185th day since the lows of 4531.

Nifty has broken the range of last few weeks on the upside with strong volumes, indicating that rally has steam in it.With this move, Nifty's monthly and quarterly range stands at 372/555 points. The weekly closing was up by 4.1% . Nifty has jumped by 319 points in last 2 weeks, indicating that the upside breakout has a strong momentum, that should continue for next few weeks.

Sep13 Update

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

1. Nifty flat with 0.66 breadth.
2. 458th day since the highs of 6338, 184th day since the lows of 4531.


Nifty moved in a 26 point range today, taking the monthly range to 232 points.Today's breadth indicates that Nifty may be entering near term correction phase now.Medium term trendline gives support @5000 levels. So  a deeper correction if it happens may take Nifty to around that level.If Nifty finds support at lower 5000 level, that would be a very bullish scenario for the coming weeks till Diwali.

Sep12 Update

Nifty moved further up above 5400 amid moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.8% with 1.4 breadth.
2. 457th day since the highs of 6338, 183rd day since the lows of 4531.

Nifty closed above 5400 levels today.Nifty is approaching earlier swing highs of 5448.Todays' volumes were better than of last few days.Nifty's slow but firm move upwards since last 5-6 days is putting Nifty in a strong position.If Nifty manages to cross/close above 5448, then Nifty's range expansion is likely to happen on upside in the coming weeks. September Monthly range now stands at 220 points, Quarterly range remains at 416 points till today.

Sep11 Update

Nifty edged towards 5400 levels with muted volumes. Important points for today.

1. Nifty up by 0.5% with 1.15 breadth.
2. 456th day since the highs of 6338, 182nd day since the lows of 4531.

Nifty is inching upwards albeit slowly.5450 will act as resistance point for Nifty beyond which higher doors will open up.This week's range is 84 points till today and monthly range is 178 points.Likelihood of upside expansion are increasing.

Sep10 Update

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

1. Nifty up by 0.4% with 1.2 breadth.
2. 455th day since the highs of 6338, 181st day since the lows of 4531.

Nifty pausing again after 100+ point upmove.Whether Nifty may keep going higher or revisit/ break 5215 lows is open right now.But clsoing above 5450 should pave the way for further immediate upside in Nifty. Monthly range after today's upmove stands at 160 points and quarterly range remains at 416 points.

Sep7 Update

Nifty powered on the upside with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 2.0% with 2.1 breadth.
2. 454th day since the highs of 6338, 180th day since the lows of 4531.

Nifty bounced strongly today and closed above 5300 levels.With today's move, Nifty has closed this week with gain of 1.6% recovering 65% of what it lost in the previous week.5450 is the decisive level for Nifty. If Nifty closes above 5450 next week , then it is an upside breakout and Nifty should move further high in the coming weeks.This week/month range stands at 132 points.Today's upmove was with increased volumes, so there is a good probability of this move going further up.

Sep6 Update

Nifty was again sideways with low volumes and neutral breadth around 5250 levels. Important points for today.

1. Nifty up by -.25% with 1.1 breadth.
2. 453rd day since the highs of 6338, 179th day since the lows of 4531.

Nifty moved in 43 point range and closed below 5250 levels. This week has seen Nifty move in 80 point range till today.Only If Nifty shows momentum below 5200 level, can a deeper cut happen , else Nifty should move above 5400 level. Monthly range is 80 points and quarterly range is 416 points till today.With only 3 weeks left in this quarter, I expect volatile action in coming days with Nifty seeing 5600/4800 levels towards end of month.

Sep5 Update

Nifty was again ranged in narrow band with low volumes and neutral breadth. Important points for today.

1. Nifty down by 0.95% with 0.7 breadth.
2. 452nd day since the highs of 6338, 178th day since the lows of 4531.

Nifty closed below 5250 level. Today was 11th day since the reversal from 5448 and closed below lows of last week,5238.Nifty is hovering around 5200 support levels since few days now.Current move indicates that the move from 4770-5448 is complete and new downmove has started that will retrace part of the last upmove.Monthly range stands at 80 points and Quarterly range remains at 416 points.

Sep4 Update

Nhas not ifty wavered around 5250 with low volumes and neutral breadth. Important points for today.

1. Nifty up by 0.4% with 1.3 breadth.
2. 451st day since the highs of 6338, 177th day since the lows of 4531.

Nifty is finding  support at lower 5200 levels.Today was 10th day since reversal and Nifty has not decisively tested 5200 levels.A bounce and then retest of 5200 may happen over this and next week. But if Nifty chose to go above 5450 levels, then Nifty ascend to 6000+ levels probably would have started. Range in the 2 days of this month is 62 points. Quarterly range remains at 416 points.Upper /Lower bound remain at 5032/5448 for the quarterly range.

Sep3 Update

Nifty moved in 50 point range with low volumes and neutral breadth. Important points for today.

1. Nifty was down by 0.1% with 1.2 breadth.
2. 450th day since the highs of 6338, 176th day since the lows of 4531.

Nifty moved between 5300 and 5240 levels with very low volumes and closed flat.today was 9th day since the reversal from 5448 levels. Nifty may have exhausted the downside for the near term and may bounce now for fee days before resuming the downtrend further.If Nifty indeed moves up from here, then downside below 5200 may be shallow.Quarterly range remains at 416 points.

Sep1 Update

Nifty gave the gains made on expiry day with moderate high volumes and neutral breadth. Important points for today.

1. Nifty down by 1.1% with 0.8 breadth.
2. 449th day since the highs of 6338, 175th day since the lows of 4531

Nifty closed just above 5250 levels and closed the week 2.5% down.Weekly range this week was 161 points.Support of 5150-5200 has not given away, so Nifty if stays weak for another few days may bounce may lower levels.If  Nifty closes in the red next weekly closing also , then Nifty may touch below 5000 levels in coming weeks in september.Quaterly range stands at 416 points.Around 200 points should be added atleast to the quarterly range in this month.

Aug30 Update

Nifty Traded below 5300 all day but surged in last half an hour to close above 5300 with high volumes(expiry day). Important points for today.

1. Nifty up by 0.5% with 1.1 breadth.
2. 448th day since the highs of 6338, 174th day since the lows of 4531.

Nifty closed above 5300 today due to surge during last 30 min of trade.If Nifty has put a short term bottom in place , then next 2-4 days should see Nifty crossing 5450 levels.Tomorrow is weekly closing ,so some clues are expected from tomorrow's closing level.Monthly/Quarterly range has not changed in this week.

Aug29 Update

Nifty closed below 5300 levels with low volumes and -ve breadth. Important points for today.

1. Nifty down by 0.9% with 0.45 breadth.
2. 447th day since the highs of 6338, 173rd day since the lows of 4531.

Nifty closed below 5300 ie Nifty has broken the low of last 2 weeks.Nifty has thus opened gates for further downsides.If Nifty pauses here for few days, then futher downside should be shallow.Monthly and quarterly remain at 284/416 points.Nifty's current bearish inclinations has scope for nifty touching deeper support levels of 4600-4800.

Aug28 Update

Nifty slid further today with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.3% with 0.33 breadth.
2. 446th day since the highs of 6338, 172nd day since the lows of 4531.

Nifty lost further ground to close below 5350 levels.Today was 5th day since the swing highs of 5448. 5150-5200 is a good support level and Nifty should test these levels now. If these levels give away then next support will come at 4800 levels.Monthly/Quarterly range remain the same at 284/416 points.

Aug27 Update

Nifty traded in about 50 point range with low volumes and -ve breadth. Important points for today.

1. Nifty down by 0.8% with 0.45 breadth.
2. 445th day since the highs of 6338, 171st day since the lows of 4531.

Nifty slid further to close at 5350 that is below the low of previous week.Inability to regain 5400 in next 2-3 days will take Nifty to further lower levels.This month's range stands at 284 points till now,and quarterly range is 416 points.last quarters range was 606 points, so this quarter should be 600 +  0-200 points atleast.

Aug24 Update

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

1. Nifty down by 0.6% with 0.55 breadth.
2. 444th day since the highs of 6338, 170th day since the lows of 4531.

Nifty hovered below 5400 today amid low volumes. This week's range is 80 points and today's range is 28 points only.This quarter till now is moving in a very compressive range, and some range expansion of 200-300 point is likely in next 5 weeks.Upside/downside can't be said. This was 4th consecutive upweek of Nifty.Next week should likely show where Nifty is going to expand- up/down.

Aug23 Update

Nifty attempted further high levels but could not sustain there and closed flat with moderate volumes and neutral breadth. Important points for today.

1. Nifty closed flat with 0.9 breadth.
2. 443rd day since the highs of 6338, 169th day since the lows of 4531.

Nifty closed above 5400 level for 3rd consecutive day, though breadth and volumes have not picked up after breaking above 5400 levels.Nifty remains in uptrend but slow move with low volumes put this upmove in doubt after every short intraday selloff.Monthly/Quarterly range now stands at 284/416 points.200 point move in either direction is possible in next few days.

Aug22 Update

Nifty wavered around 5400 levels after closing above 5400 yesterday with low volumes and neutral breadth. Important points for today.

1. Nifty down by 0.2% with 1.0 breadth.
2. 442nd day since the highs of 6338, 168th day since the lows of 4531.

Nifty though wobbled but closed above 5400 today for the 2nd consecutive day.Nifty's range for this month till today stands at 65 points. Upside momentum is missing though bias remains up.Nifty has not given sign of capitulation for this upmove, so more days of this lopsided upmove may continue. Monthly/Quarterly range remain at 271/401 points.

Aug21 Update

Nifty broke above 5400 today though only modestly with lower volumes and neutral breadth. Important points for today.

1. Nifty up by 1.0% with 1.2 breadth.
2. 441st day since the highs of 6338, 167th day since the lows of 4531.

Nifty after struggling in 100 point range of 5300-5400, finally broke out above 5400. This breakout is on low volumes and neutral breadth, but few days of +ve movement should continue now.5600-5700 should be  next resistance level of Nifty.There is likelihood of a correction between 5500-5700 zone before Nifty moves further up towards 6000 levels.Monthly/Quarterly range now stand at 261/393 points.

Aug17 Update

Nifty moved in 58 point range with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by  0.05% with 0.8 breadth.
2. 440th day since the highs of 6338, 166th day since the lows of 4531.

Nifty's range for this week stands at 90 points after being 117 for last 2 weeks.This week Nifty has ended with 0.9% gain after scoring 2.0%+ gains in previous 2 weeks.Above 5300, Nifty is finding difficult to cross the 5400 zone. Breakout above 5400 will only indicate whether Nifty may sustain further upsides and test of lower support levels may happen again.Range for monthly/Quarterly stands at 235/367 points.For deeper downsides in this quarter, I expect next 3 weeks is the time range.If Nifty does not breach sub5000 level in next 3 weeks or so timeframe, then upside momentum should be there to propel Nifty higher.

Aug16 Update

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

1. Nifty down by 0.35% with 1.2 breadth.
2. 439th day since the highs of 6338, 165th day since the lows of 4531.

Nifty consolidated the gains made above 5350 and closed mildly in the red.Nifty remains in upmove. If tomorrow's weekly closing is above 5350, then Nifty should likely target next level of 5600 in next few days. Despite low volumes and slow momentum in upmove, Nifty has not given any signs of turning as of now. Monthly/Quarterly range stands at 226/358 points.

Aug13 Update

Nifty hovered inbetween 5300-5350 with low volumes and neutral breadth. Important points for today.

1. Nifty moved up by 0.5% with 1.2 breadth.
2. 437th day since the highs of 6338, 163rd day since the lows of 4531.

Nifty moved in a 43 point range and closed above the previous swing highs of 5345.Nifty remains in sideways range with upward bias.Nifty 's momentum is slowing down though it is able to move up.Trendless behaviour is not giving any opportunity to play in Nifty.

Aug10 Update

Nifty moved around 5300 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty closed flat with 0.7 breadth.
2. 436th day since the highs of 6338, 162nd day since the lows of 4531.

Nifty after crossing previous swing highs of 5348, has failed to cross it on closing basis this week.This could either be a pause or it could be a completion of countrend rally since lows of 4531.Next 2 weeks will clear up whether Nifty is likely to test lower support of 4600-4800 or it is consolidating in 5000-5300 zone for further upmoves. Monthly and quarterly range remain at 213/345 points.Quarterly range expansion is very much due.

Aug9 Update

Nifty could not sustain above 5350 levels and closed below it with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 0.3% with 0.55 breadth.
2. 435th day since the highs of 6338, 161st day since the lows of 4531.

Nifty failed to close above 5350 levels for 3 days now. Any further weakness in Nifty should open the path to lower support levels of 5150. Nifty remains in short/Intermediate term upmove. Monthly/Quarterly range remain at 214/345 points.Also Yearly range of 2012 is 1041 points till now. I see atleast 500 points expansion in yearly range ie below 4531 or above 5629 or somewhere slightly below and above these threshold levels.

Aug8 Update

Nifty moved sideways around 5350 with moderately high volumes and neutral breadth. Important points for today.

1. Nifty flat with 0.7 breadth.
2. 434th day since the highs of 6338, 160th day since the lows of 4531.

Nifty consolidated the gains made during last 2-3 days around 5350 levels.5350 has been broken decisively now, and  next higher levels upto 5500-5600 should open now.Monthly range stands at 213 points till today and quarterly range is 345 points. if Nifty clears the hurdle of 5400 by next week, then I expect Nifty to test 5700+ levels by next month before undergoing any decent correction.Bias remains up unless Nifty starts trading below 5200 levels.

August7 Update

Nifty extended the gains to touch 5350 with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 1.0% with1.3 breadth.
2. 433rd day since the highs of 6338, 159th day since the lows of 4531.

Nifty surpassed the previous highs of 5348 today.Breadth is just above neutral indicating that upmove is loosing steam.But Nifty remains in clear uptrend and this could continue for few days.Monthly range for August is 181 points till today and this week's range is 90 points.Chances of a deep dip has receeded but Nifty could undergo correction from 5400-5600 zone.

Aug6 Update

Nifty surged above 5250 with low volumes and neutral breadth. Important points for today.

1. Nifty up by 1.3% with 0.63 breadth.
2. 432nd day since the highs of 6338, 158th day since the lows of 4531.

Nifty closed above 5250 levels today after moving sideways around 5250 for few days.This upmove should continue for next few days, as there may still be some juice left in this rally.Nifty's range today was only 33 points and this month's range now stands at 124 points.

Aug3 Update

Nifty dipped below 5200 levels but recovered to close above 5200 with low volumes and neutral breadth. Important points for today.

1. Nifty down by 0.25% with 0.7 breadth.
2. 431st day since the highs of 6338, 157th day since the lows of 4531.

Nifty ended the week with gain of 2.3%.This week's range was 117 points and Monthly range of August stands at 82 points.Nifty is trading sideways in band of 5000-5350 levels and any move beyond the limits with volumes should indicate medium term direction of Nifty.

Aug2 Update

Nifty traded sideways in a narrow range with low volumes. Important points for today.

1. Nifty down by 0.25% with 1.3 breadth.
2. 430th day since the highs of 6338, 156th day since the lows of 4531.

Nifty traded in 27 point range with very low volumes.In 2 days of August , Nifty's range is only 37 points.if Nifty remains in narrow trading range of 200-300 points in August, then that should be bullish for the coming months.

Aug1 Update

Nifty traded in a narrow range with low volumes and +ve breadth. Important points for today.

1. Nifty up by 0.2% with 1.9 breadth.
2. 429th day since the highs of 6338, 155th day since the lows of 4531.

Nifty was sideways with +ve bias.Nifty is likely to clear its medium term move in next 1-2 weeks. I expect that if Nifty trades sideways for next 2 weeks, then Nifty may rise upwards over coming weeks towards 6000 levels. But if Nifty decides to fall below 5000, then retest of 4500 is likely to happen.Quarterly range till today stands at 316 points only and it should expand in the coming weeks.

Jul31 Update

Nifty had a mid day sell off but recovered to close above 5200 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.6% with 1.15 breadth.
2. 428th day since the highs of 6338, 154th day since the lows of 4531.

Nifty closed in the green for the 3rd consecutive day.Nifty has risen sharply from the lows of 5032 it made on expiry day.Volumes in this rally is good though breadth is lacking.Short term Nifty remains in firm uptrend and only a close below 5100 will indicate that this sharp upmove was just a retracement of the fall from 5350 levels.July month ended with the range of 316 points.Sharp upmove indicates that Nifty is likely to enter more volatile period now.

Jul27 Update

Nifty bounced strongly with moderate volumes but -ve breadth. Important points for today.

1. Nifty up by 1.1% with 0.55 breadth.
2. 426th day since the highs of 6338, 152nd day since the lows of 4531.

Nifty tested 5150 levels today but gave up some gains to close just a tad below 5100.Today was 3rd consecutive -ve weekly closing. Nifty this week has closed below lows of last week on all days.On Daily timeframe, Nifty has capitulated and the bounce should continue for few days.On Weekly basis Nifty may/may not have capitulated and there may be more downside left. Monthly range stands at 316 points till today with 2 days to go.

Jul26 Update

Nifty broke down today with moderate volumes and -ve breadth on expiry day. Important points for today.

1. Nifty down by 1.3% with 0.3 breadth.
2. 425th day since the highs of 6338, 151st day since the lows of 4531.

Nifty broke below 5050 today and closed below it.Nifty has to sustain the downward momentum in next few days for it to fall further.Else Nifty may be due for short term bounce to 5300+ now.Monthly range now stands at 318 points.

Jul25 Update

Nifty was rangebound in 45 points with low volumes and -ve breadth. Important points for today.

1. Nifty down by 0.4% with 0.5 breadth.
2. 424th day since the highs of 6338, 150th day since the lows of 4531.

Nifty has closed below 5150 for 3 consecutive days of this week.Today was 11th day since the swing highs of 5348.Nifty should see short term low in next 3-4 days.4800-5000 should find lot of support for Nifty and the momentum of this correction is mute with weak volumes.Downsides look limited from here for Nifty and further moves will clear up the way of the future path.July range till today stands at 272 points.

Jul24 Update

Nifty moved below 5150 with low volumes and -ve breadth. Important points for today.

1. Nifty up by 0.2% .
2. 423rd day since the highs of 6338, 149th day since the lows of 4531.

Nifty after yesterday's slide seems to have paused around 5100 levels.Only a close above 5200 would reverse the short term trend to +ve ,else Nifty may see further lows in the coming days.I expect a sharp/panic low to happen by next week.If Nifty's level around mid August is around 5000, then levels of 6000+ are possible by around Diwali.

Jul23 Update

Nifty broke 5150 levels though with low volumes and -ve breadth. Important points for today.

1. Nifty down by 1.75% with 0.35 breadth.
2. 422nd day since the highs of 6338, 148th day since the lows of 4531.

Nifty broke last week's low on first day of the week.Nifty has closed below important support levels and if Nifty fails to cross 5150 in next 1-2 days then further downsides are possible.Monthly/Quarterly range stands now at 240 points.Nifty looks like expanding on the downside here.Since the volumes are low , so Nifty may pause here around 5100 levels before going further down.

Jul20 Update

Nifty was listless today also with low volumes and -ve bias.Important points for today.

1. Nifty down by 0.75% with 0.6 breadth.
2. 421st day since the highs of 6338, 147th day since the lows of 4531, 104th day since the swing highs of 5629.

Nifty closed in the red for the 2nd consecutive week.Range in this week was only 88 points.July is turning to be low range month.But Nifty is undergoing significant range compression since last few weeks.Retest of the earlier lows look possible, but if Nifty expands upwards and stays up for few days, then it may head towards 6000+ levels in coming weeks/months.

Jul19 Update

Nifty trade in very narrow range with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.55% with 1.2 breadth.
2. 420th day since the highs of 6338, 146th day since the lows of 4531.

Nifty is again trading in its trading band between 5200-5350.Nifty may or may not have completed the upmove from 4770. Trading range on monthly/quarterly remains quite narrow being less than 200 in about 3 weeks. So look for volatility to begin in coming days in the direction of the next move.

Jul18 Update

Nifty slid further but recovered to close above 5200 levels with lower volumes and neutral breadth. Important points for today.

1. Nifty up by 0.5% with 1.0 breadth.
2. 419th day since the highs of 6338, 145th day since the lows of 4531, 102nd day since the swing highs of 5629.

Nifty closed +ve after 5 consecutive down days.Nifty has taken support at 5150 levels and now should try to move higher. 5350+ should open up further upsides while close below 5150 should open further downsides. Between these two levels Nifty may be preparing for its next move.Monthly range till today stands at 179 points, while weekly range is 77 points. This is 3rd week of this month/quarter and Nifty remains in a narrow range.There are 2 possibilities I see as of today. 1. If nifty stays in 300-400 point range till around August end, that would be bullish sign for september onwards.2.If Nifty expands its range to 500+ in next 2-3 weeks, then Nifty may move in the direction of range expansion for some time.

Jul17 Update

Nifty again moved around 5200 levels amid low volumes and -ve breadth. Important points for today.

1. Nifty down by 0.1% with 0.45 breadth.
2. 418th day since the highs of 6338, 144th day since the lows of 4531, 101st day since the swing highs of 5629.

Nifty again closed below 5200 levels but the volumes were quite low. Nifty is finding support in the gap region of 5160-5190. Nifty looks more likely to move up in short term from here though it may remain in consolidation band of 5150-5350 zone.Monthly range till today stands at 167 points with 10 days to go.Till expiry Nifty may wait before making a breakout/breakdown move.

Jul16 Update

Nifty continued its slide to close below 5200 with low volumes and -ve breadth. Important points for today.

1. Nifty down by 0.6% with 0.55 breadth.
2. 417th day since the highs of 6338, 143rd day since the lows of 4531, 100th day since the swing highs of 5629.

Nifty ended below 5200 but breadth and volumes are indicating downside exhaustion.Nifty may move up from here towards 5350+. But Nifty has not shown any good momentum after breaking above 5200, so even if upmove begins real strength is only going to come after a close above 5400 levels.Nifty faltering at ~5400 levels may result in swift reversal to sub 5000 levels. July's range stands at 158 points till today.

Jul13 Update

Nifty hovered  around 5200-5270 levels with low volumes and neutral breadth. Important points for today.

1. Nifty down by 0.15% with 0.8 breadth.
2. 416th day since the highs of 6338, 142nd day since the lows of 4531, 99th day since the swing highs of 5629.

Nifty traded flat today with low volumes and closed mildly in the red. Today's weekly closing was down by 1.8%.Nifty has entered into a short term correction that may last for some time but in very near term, could see a bounce to 5300+. Level of ~5160 remains a crtical point and close below that only would point to a deeper correction to 4600-4800 levels.In 2 weeks of this month, Nifty's range is 132 points. This month is turning out to be a low range month.If that holds true then August could see greater range expansion

Jul12 Update

Nifty slid below 5250 levels with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 1.4% with 0.5 breadth.
2. 415th day since the highs of 6338, 141st day since the lows of 4531, 98th day since the swing highs of 5629.

Nifty closed below 5250 levels.With today's slide Nifty's weekly and monthly range stands at 131 points. Nifty is likely to test 5150 levels now.Nifty may break down from that level or if it finds support there then consolidation and further upmove may be possible.

Jul11 Update

Nifty shed yesterday's gain with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.75% with 0.55 breadth.
2. 414th day since the highs of 6338, 140th day since the lows of 4531, 97th day since the swing highs of 5629.

Nifty traded in a range of 36 points. This week's range till today is 91points.Nifty's bias is +ve but momentum is missing.To get the momentum, there should be a volatile move in the opposite direction. So I expect Nifty to move up sharply(100+ points) if the upmove from 4770 is ending or vice versa. Monthly range too remains at 91 points after 1.5 weeks.

Jul10 Update

Nifty powered up today with moderate volumes and +ve breadth to close near 5350. Important points for today.

1. Nifty up by 1.3% with 1.9 breadth.
2. 413th day since the highs of 6338, 139th day since the lows of 4531, 96th day since the swing highs of 5629.

Nifty has come out of its sideways range of 100 points today.The +ve momentum should continue in near term.Range for this month/quarter stands at 91 points till today.Today was 27 days since 4770 levels.Nifty remains in uptrend so further upmove should be possible though momentum seems lacking.

Jul9 Update

Nifty slid below 5300 with lower volumes and -ve breadth. Important points for today.

1. Nifty down by 0.7% with 0.44 breadth.
2. 412th day since the highs of 6338, 138th day since the lows of 4531, 95th day since the swing highs of 5629.

Nifty closed below 5300 today amid narrow range. This week Nifty is likely to test the gap of 5160-5190 levels. Any drop below these levels will open further downsides below 5000 levels. Nifty's range expansion may be beginning but evidence is needed to confirm.If Nifty's 5 week upmove is complete , then Nifty's retrace may be starting here for first target of 4770.

Jul6 Update

Nifty ended above 5300 on weekly closing with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 0.2% with 0.67 breadth.
2. 411st day since the highs of 6338, 137th day since the lows of 4531, 94th day since the swing highs of 5629.

Nifty finished this week with a range of just 70 points, This is the lowest weekly range of Nifty in many years.First week of July has generated only 70 points.Nifty is moving very slowly after breakout above 5200, so lookout for capitulation in Nifty with a sharp 100+ point upmove in next few days.This is setting up a very volatile move in next few weeks.This week Nifty has completed 87 weeks since the highs of 6338,

Jul4 Update

Nifty was again confined in a narrow range with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 0.3% with 1.9 breadth.
2. 410th day since the highs of 6338, 136th day since the lows of 4531, 93rd day since the swing highs of 5629.

Nifty closed above 5300 today though range was only 44 points. Nifty has moved in 54 point range in 3 days of this week.This kind of compression generally signals that the end of  move may be nearing.It is possible that Nifty may head higher in next few days amid narrow range and then start reversal sharply.

Jul3 Update

Nifty was sideways with moderate volume and +ve bias. Important points for today.

1. Nifty up by 0.2% with 1.5 breadth.
2. 409th day since the highs of 6338, 135th day since the lows of 4531, 92nd day since the swing highs of 5629.

Nifty has moved in a narrow range of 55 points in 2 days of this week after big breakout on Friday.If Nifty moves like this for next 2-3 days then this may be a mild breakout instead of big breakout implying that Nifty's breakout above 5200 is likely a capitulating move.July has started on a slow pace with 55 points only in 2 days of trading.

Jul2 Update

Nifty Moved in 39 point range with moderately low volumes and +ve breadth. Important points for today.

1. Nifty flat with 1.9 breadth.
2. 408th day since the highs of 6338, 134th day since the lows of 4531, 91st day since the swing highs of 5629.

Today was 5th day of Nifty's upmove.The first upmove from 4770-5144 lasted for 8 days.How Nifty carries this move further will decide whether this is capitulation of the move from 4770 or Nifty may remain in uptrend for longer.Chances of expansion in this quarter are high since last quarter was only 608 points and lowest in 4-5 years.Timewise also Nifty is in 87th week since the highs of 6338(Nov'10).Revisit to lows of 4531/new lows may be possible in next weeks.

Jun25 Update

Nifty scaled new highs above 5190 but gave up the gains to close in red with lower volumes and neutral breadth. Important points for today.

1. Nifty down by 0.6% with 1.1 breadth.
2. 403rd day since the highs of 6338, 129th day since the lows of 4531, 86th day since the swing highs of 5629.

Nifty made an attempt at 5200 again but could not sustain higher levels and closed just above 5100. 5050 is a critical point and Nifty closing below it, will open the doors for earlier support levels of 4800-4900.This week may turn volatile towards the end.Breakout or Breakdown could happen in next few days.I see chances of breakdown happening more since medium term  bottom does not look to have been formed at 4770 levels.

Jun22 Update

Nifty opened gap down but recovered later on to close just below 5150 with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 0.35% with 0.9 breadth.
2. 402nd day since the highs of 6338, 128th day since the lows of 4531, 85th day since the swing highs of 5629.

Nifty has spent last 4 days within Monday's trading range of 149 points.This pattern indicates that Nifty may be exhausting here at 5150-5200 levels. Any further attempt at 5200+ could happen as a capitulating move and Nifty could swirl down to lower support levels of 4600-4800 in next 1-3 weeks if Nifty makes failed attempt at 5200 and closes in the red next week.Quarterly range stands at 608 points and there looks to be a good opportunity emerging in next 2 months for Nifty to undergo wild swing.

Jun21 Update

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

1. Nifty up by 0.9% with 1.8 breadth.
2. 401st day since the highs of 6338, 127th day since the lows of 4531, 84th day since the swing highs of 5629.

Nifty is again approaching resistance line of 5200.Last 3 days upmove has been less than 1% move each day, implying that +ve momentum is missing and Nifty is just crawling upwards.On Timeline , Nifty is approaching important Fib no's on medium and intermediate terms(144/89).Short term trend remains up and last 2 week's low of 5015 should be the downside indicator incase Nifty breaches this level.Monthly and quarterly range remain at 420/608 points.

Jun20 Update

Nifty moved in a narrow range of 41 points with moderately low volumes and +ve breadth. Important points for today.

1. Nifty up by 0.35% with 1.7 breadth.
2. 400th day since the highs of 6338, 126th day since the lows of 4531, 83rd day since the swing highs of 5629.

Nifty was sideways and moved just above 5100 levels.After Monday's big range , Nifty has stayed within Monday's trading range for the last 2 days.Nifty is trading in narrow range for 2nd week now after big range expansion in 1st week of June.Nifty is sideways moving in a range from 5000-5200 for few days now.Only momentum breakout above 5200 should open further upsides for Nifty.

Jun19 Update

Nifty crawled to 5100+ levels with lower volumes and moderate breadth. Important points for today.

1. Nifty up by 0.8% with 1.1 breadth.
2. 399th day since the highs of 6338, 125th day since the lows of 4531, 82nd day since the swing highs of 5629.

Nifty moved in 65 point range and moved upwards. Nifty may reattempt 5200 levels again.But if Nifty fails again at 5200, retest of 4800 is likely in a swift manner.Nifty must cross 5200 in next few days to open possibility of further highs and for this upmove to sustain further.But failure would indicate that Nifty may be headed down. Monthly and quarterly range remain at 420 and 608 points. Quarterly range is pointing to a volatile move in July/August.

Jun18 Update

Nifty attempted 5200 levels but sold off from there with moderately low volumes and -ve breadth. Important points for today.

1. Nifty down by 1.5% with 0.4 breadth.
2. 398th day since the highs of 6338, 124th day since the lows of 4531, 81st day since the swing highs of 5629.

Nifty had a selloff from below 5200 levels.Today was 11th day since 4770 levels. Nifty after going through a compression week had a huge day today with range of 149 points.Nifty should breach previous week lows of 5015 as first signs of reversal.Nifty is likely to attempt 5200 levels again in this week.Nifty's quartely range remains a very compressed 608 points.

Jun15 Update

Nifty marched upwards towards 5150 levels with moderately low volumes and neutral breadth. Important points for today.

1. Nifty up by 1.7% with 1.3 breadth.
2. 397th day since the highs of 6338,123rd day since the lows of 4531, 80th day since the swing highs of 5629.

Nifty is hovering in 5000-5150 range now for 7-8 days. Today was 10th day since Nifty turned up from sub 4800 levels.Nifty may attempt 5200 soon and if momentum is lacking then it could turn out to be area of reversal.Nifty's monthly range stands at 376 points and quarterly range at 608 points.Quarterly range is indicating extreme compression after many successive quarters of expansion.This is a reliable indicator and is pointing towards quarterly expansion in next quarter, which may indicate that an important level may be reached by Nifty in next 2-3 months.

Jun14 Update

Nifty moved in 83 point range with lower volumes and -ve breadth. Important points for today.

1. Nifty down by 1.3% with 0.45 breadth.
2. 396th day since the highs of 6338, 122nd day since the lows of 4531, 79th day since the swing highs of 5629.

Nifty failed to cross 5150 levels since last 3 days and came down today.Nifty remains in short term upmove but further upsides above 5200 may be capitulative move.Nifty on medium term appears to be forming expanding wedge and right now is in its 4th leg down with possible targets of 4000 levels in about August timeframe.Monthly and quarterly range stands at 374 and 608 points.Expansion of quarterly range by more than 100 points looks less probable right now, as it may require a move to 4600/5500 in next 11 days.

Jun13 Update

Nifty was sideways with lower volumes and neutral breadth. Important points for today.

1. Nifty flat with 1.0 breadth.
2. 395th day since the highs of 6338, 121st day since the lows of 4531, 78th day since the swing highs of 5629.

Nifty moved in 49 point range and closed flat.Nifty is in short term upmove but is slowing down here in resistance zone.Till 5200 is not crossed decisively, correction upto 4900 could happen .Today was 8th day since Nifty reversed from 4770 levels. Monthly range stands at 374 points.

Jun12 Update

Nifty took support at lower 5000 levels and bounced up to close above 5100 levels with lower volumes and neutral breadth. Important points for today.

1. Nifty closed up 1.2% with 1.15 breadth.
2. 394th day since the highs of 6338, 120th day since the lows of 4531, 77th day since the swing highs of 5629.

Nifty closed above 5100 levels.Today was 7th day of upturn. Nifty may spend some time around 5200 levels and then go down or if crosses 5200 with momentum and sustains it for couple of days then it may head higher.
Nifty 's monthly range stands at 358 points till today and quarterly range remains 608 points.

Jun11 Update

Nifty opened above 5100 levels but closed around 5050 levels with lower volumes and neutral breadth. Important points for today.

1. Nifty down by 0.3% with 1.0 breadth.
2. 393rd day since the highs of 6338, 119th day since the lows of 4531, 76th day since the swing highs of 5629.

Nifty had a mild selloff from 5100+ levels.5100-5200 is a strong resistance zone, and Nifty in the absence of +ve trigger may find it difficult to breach it decisively.Bear scenario of sub 4500 also remains open as of now but bullcase of Nifty having turned up on medium term basis is also emerging.1st week of July should clear up quite a few things.Quarterly range till today is only 608 points and is lowest in last about 5 years.So if Nifty doesnot expand its quarterly range significantly in the remaining days of June, then probabilty of expansion in next quarter will be quite high.

Jun8 Update

Nifty trended down for most part of the day but bounced in last hour to close in green with lower volumes and neutral breadth. Important points for today.

1. Nifty up by 0.4% with 1.0 breadth.
2. 392nd day since the highs of 6338, 118th day since the lows of 4531, 75th day since the swing highs of 5629.

Nifty was up for 5th consecutive day.Nifty is now approaching resistance zone of 5100-5200. This week ,Nifty jumped by 5% on weekly basis.5200 is a strong resistance , so Nifty could reverse all of this week's gain in next week!If that happens then Nifty may either take support at 4600 and bounce OR it may make new lows below 4500.Monthly range now stands at 314 points and quarterly range at 608 points.

Jun7 Update

Nifty extended the gains with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 1.0%  with 1.5 breadth.
2. 391st day since the highs of 6338, 117th day since the lows of 4531, 74th day since the swing highs of 5629.

Nifty closed above 5000 with 4th consecutive up day.Nifty has put in short term bottom around 4800 levels. But Nifty's bounce makes it at centre of quarterly range of 608 points. Nifty is expanding its quarterly range since last few quarters, so compression in this quarter indicates that Nifty is more likely to make volatile moves in next quarter.5378/4770 are the bounds of quarterly range till now. This is likely to expand on upside or downside by 100-200 points till end of this month.

Jun6 Update

Nifty turned up strongly with moderately high volumes and +ve breadth. Important points for today.

1. Nifty up by 3.3% with 3.3 breadth.
2. 390th day since the highs of 6338, 116th day since the lows of 4531, 73rd day since the swing highs of 5629.

Nifty turned up today closing above previous swing closing high of 4990.today was 26th day since Nifty turned down from 5279 levels.If Nifty has made medium term reversal from  here, then 4900 should remain as base and not be breached and Nifty should move up gradually or swiftly.With today's move , Nifty's range for this quarter(Apr-Jun) stands at 608 points and for this week at 240 points.If Nifty turns further up, then it is setting up for a high probability trade for a drop towards 4500-4600 levels in next few weeks.

Jun5 Update

Nifty moved in a narrow range of 41 points with lower volumes and neutral breadth. Important points for today.

1. Nifty up by 0.3% with 1.2 breadth.
2. 389th day since the highs of 6338, 115th day since the lows of 4531, 72nd day since the swing highs of 5629.

Nifty moved in between 4847-4900. Nifty has been in pause mode for 2days after declining by 250 points from 5020-4770.Since Nifty is in weekly down mode, so Nifty may resume its downtrend in 1-2 days.Nifty is at critical juncture as it is 4-5% above the lows of 4531 after breaching 4700 support levels decisively in nov-dec.From the charts, I see Nifty has taken out 4700 support medium term decisively ,so another halt at 4500-4600, could setup Nifty for deeper fall to 3700-4000 levels in next few weeks.This week's range stands at 128 points.

Jun4 Update

Nifty opened gap down but recovered to closed mildly +ve with lower volumes and neutral breadth. Important points for today.

1. Nifty up by 0.1% with 0.83 breadth.
2. 388th day since the highs of 6338, 114th day since the lows of 4531, 71st day since the swing highs of 5629.

Nifty ended flat after opening gap down. Today was 24th day since the swing highs of 5279. Nifty has taken 71days till now correcting 43days of upmove from 4531-5629.Clearly Nifty is lacking downside momentum now but it does not look like Nifty has capitulated on medium term basis.A sharp unexpected Low should happen for Nifty to capitulate.4500-4700 is a strong support zone and Nifty should find support here if it goes further down from here. Nifty's range for this month stands at 179 points in 2days till now.

Jun1 Update

Niftyhad a mild selloff with lower volumes and -ve breadth. Important points for today.

1. Nifty down by 1.65% with -.4 breadth.
2. 387th day since the highs of 6338, 113th day since the lows of 4531, 70th day since the swing highs of 5629.

Nifty closed below 4850 levels today.After 2 weeks of sideways move, Nifty has closed down by 1.6% on weekly basis. This down move could continue for another few days and Nifty is likely to test 4600 levels now.Momentum will decide whether Nifty is headed for bid downmove or it may rest around the support zone of 4500-4600.Nifty is heading down at the start of the month, so Nifty is likely to expand its monthly and quarterly range on downside.

May30 Update

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

1. Nifty down by 0.8% with 0.45 breadth.
2. 385th day since the highs of 6338, 111th day since the lows of 4531, 68th day since the swing highs of 5629.

Nifty moved down to close at 4950 level. If Nifty moves further down towards 4900 or below in next 2 days, then Nifty is likely headed to lower support levels of 4500-4600 levels. Nifty's monthly and quarterly range stands at 490 & 590 points.Nifty is likely to expand its quarterly range in the month of may by 200-300 points , so that implies 4500-4600 should be tested in June.

May29 Update

Nifty hovered around 5000 levels with lower volumes and neutral breadth. Important points for today.

1. Nifty up by 0.1% with 1.0 breadth.
2. 384th day since the highs of 6338, 110th day since the lows of 4531, 67th day since the swing highs of 5629.

Nifty moved past 5000 levels but closed below it.Today was 4th day of upmove of Nifty.Nifty is moving up but in a slow momentum .Nifty has crossed 4950 resistance levels, so if Nifty now closes below 4950 then it may point to reversal in Nifty's short term move to down.Nifty's monthly range remains at 490  and quarterly range at 590 points.

May28 Update

Nifty moved up with very low volumes and +ve breadth to close just below 5000 levels. Important points for today.

1. Nifty up by 1.3% with 1.9 breadth.
2. 383rd day since the highs of 6338, 109th day since the lows of 4531, 66th day since the swing highs of 5629.

Nifty rose for the 3rd consecutive day.Nifty has risen past 4950 that acted as resistance level since last few days.This may be capitulation of the sideways move or if Nifty moves further up for another 1-2 days then  Nifty may have entered a short term consolidation move between 4800-5200. I would look for signs of topping out over next 2 days,if That happens then Nifty may attempt lows of 4500-4600 by next week .

May25 Update

Nifty moved in 46 point range with low volumes and neutral breadth. Important points for today.

1. Nifty flat with 1.35 breadth.
2. 382nd day since the highs of 6338, 108th day since the lows of 4531, 65th day since the swing highs of 5629.

Nifty ended above 4900 on weekly close.Since last 2 weeks Nifty has closed flat around 4900 after falling steeply for 3 weeks before.Today was 14th week since the medium term highs of 5629 in Mid Feb.Nifty is likely undergoing medium term weekly correction and it does not like it has ended as yet. Fast fall to new lows should be a capitulation point of this weekly downmove.

May23 Update

Nifty moved in 50 point range with low volumes and -ve breadth. Important points for today.

1. Nifty down 0.5% with 0.55 breadth.
2. 380th day since the highs of 6338, 106th day since the lows of 4531, 63rd day since the swing highs of 5629.

Nifty closed below 4850 after touching around 4800 early in the day.Today was 16th day since Nifty's reversal from 5279.If Nifty breaks 4700 level on closing basis , lower levels are expected to follow then.Above 4700, Nifty may remain in sideways range between 4700-5000.Nifty's weekly range till today stands at 153 points and monthly range at 491 points.

May22 Update

Nifty opened above 4950 but closed near 4850 with low volumes and moderate breadth. Important points for today.

1. Nifty down by 0.95% .
2. 379th day since the highs of 6338, 105th day since the lows of 4531, 62nd day since the swing highs of 5629.

Nifty after opening gap up gave away all its gain to close near day's low. Nifty seems to be pausing here as it is encountering good resistance at 4950 levels.Today was 15th day since the reversal from 5279.If this is a pause within the downturn, then Nifty could start its downmove in 1-2 weeks but if Nifty crosses above 5000 levels then the upmove may last longer.

May21 Update

Nifty was sideways with +ve bias with very low volumes and +ve breadth. Important points for today.

1. Nifty up by 0.3% with 1.8 breadth.
2. 378th day since the highs of 6338, 104th day since the lows of 4531, 61st day since the swing highs of 5629.

Nifty moved in 49 point range and closed above 4900. Today was 3rd consecutive up day of Nifty. In 3 days Nifty has moved up by 1%. Nifty may revisit last week's low by end of this week.The upmove looks to be only a short term move and Nifty is likely to move down again.If Nifty takes support at ~4700 again and moves up then Nifty has good chance of going 5000+ in weeks ahead.

May18 Update

Nifty gapped down below 4800 but recovered later on with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.4% with 0.83 breadth.
2. 377th day since the highs of 6338, 103rd day since the lows of 4531, 60th day since the swing highs of 5629.

Nifty dropped below 4800 today bt found support to bounce above 4900. Nifty is finding support at lower levels, so near term drop below 4700 looks less likely and on upside 4950-5000 should pose resistance to Nifty.With today's move Nifty ended the week with range of 169 points and monthly range at 491 points.On Weekly basis , Nifty is down for 4th consecutive week but this week was down by 0.75%. Nifty may hover in 200-250 point range for few days and may then drift to lower support zone of 4600-4700 around expiry.

May17 Update

Nifty moved in 72 point range with lower volumes and neutral breadth. Important points for today.

1. Nifty up by 0.25% with 1.0 breadth.
2. 376th day since the highs of 6338, 102nd day since the lows of 4531, 59th day since the swing highs of 5629.

Nifty closed marginally in the green today after yesterday's sharp fall. Today was 12th day since the reversal from 5279.Nifty's short term movement is not very clear as it is hovering near support and going down but in slow momentum.This week's range remains at 120 points till today. Nifty has a range of 200+ points since last 2 weeks, so range compression this week would increase the probability of a wider move next week.

May16 Update

Nifty was sideways with -ve bias amid moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 1.7% with 0.7 breadth.
2. 375th day since the highs of 6338, 101st day since the lows of 4531, 58th day since the swing highs of 5629.

Today was 11th day since Nifty reversal from 5279.Nifty is trending down but downside momentum is moderate.Nifty may be close to forming a short term bottom around 4700-4800 in next 1-2 days.Nifty may remain weak though in short term it may not go down much further but medium term Nifty remians in downtrend and further new lows could be there in coming weeks.Weekly range after today is 120 points and monthly range is 442 points.

May15 Update

Nifty opened gap down and recovered after that to close above 4900 with low volumes and neutral breadth. Important points for today.

1. Nifty up by 0.7% with 1.2 breadth.
2. 374th day since the highs of 6338, 100th day since the lows of 4531, 57th day since the swing highs of 5629.

Nifty likely made a short term low today and could remain in sideways +ve movement for few days. The downtrend does not look like it has ended. Only close above 5100-5150 zone would indicate bullish reversal has happened in Nifty.Today was 10th day since Nifty started its descent from 5279.Weekly range till today stands at 89 points and monthly range at 411 points.