Nifty reversed yesterday's loss with high volumes and +ve breadth. Important points for today.
1. Nifty up by 2.2% with 2.2 breadth.
2. 304th day since the highs of 6338,29th day since the lows of 4531.
Nifty's today bounce is part of short term correction that Nifty has likely entered.Looking at today's bounce Nifty should likely stretch above previous highs of 5217.I expect the correction mode to continue till around mid-late february.January ended with the range of 629 points.Nifty has jumped by 12.5% in last 1 month.So I expect february to be a low range month with neutral to upward bias.
Tuesday, January 31, 2012
Monday, January 30, 2012
Jan30 Update
Nifty fell down below 5100 levels with moderate volumes and -ve breadth. Important points for today.
1. Nifty down by 2.25% with 0.4 breadth.
2. 303rd day since the highs of 6338, 28th day since the lows of 4531.
Nifty has reversed from important resistance levels of 5200+. After remaining in upmove for many days, Nifty has made a sharp fall.This to me indicates that reattempt at recent highs of 5200+ will be attempted again in coming days.Nifty has likely entered short term correction for few days and I expect Nifty to trade in 5000-5300 range for few days now.
1. Nifty down by 2.25% with 0.4 breadth.
2. 303rd day since the highs of 6338, 28th day since the lows of 4531.
Nifty has reversed from important resistance levels of 5200+. After remaining in upmove for many days, Nifty has made a sharp fall.This to me indicates that reattempt at recent highs of 5200+ will be attempted again in coming days.Nifty has likely entered short term correction for few days and I expect Nifty to trade in 5000-5300 range for few days now.
Saturday, January 28, 2012
Jan27 Update
Nifty powered up with higher volumes and +ve breadth to close above 5200. Important points for today.
1. Nifty up by 0.9% with 1.8 breadth.
2. 302nd day since the highs of 6338, 27th day since the lows of 4531.
Nifty had a weekly close above 5200.Nifty remains in uptrend though momentum is not strong.I expect Nifty to slow down in its further upmove before it exhausts itself.This should likely be the last major upmove of Nifty.I expect an impulsive downmove of Nifty after this upmove is over in next few weeks.
1. Nifty up by 0.9% with 1.8 breadth.
2. 302nd day since the highs of 6338, 27th day since the lows of 4531.
Nifty had a weekly close above 5200.Nifty remains in uptrend though momentum is not strong.I expect Nifty to slow down in its further upmove before it exhausts itself.This should likely be the last major upmove of Nifty.I expect an impulsive downmove of Nifty after this upmove is over in next few weeks.
Wednesday, January 25, 2012
Jan25 Update
Nifty extended its gain amid narrow range of 44 points with higher expiry volumes and +ve breadth. Important points for today.
1. Nifty up by 0.6% with 2.0 breadth.
2. 301st day since the highs of 6338, 26th day since the lows of 4531.
Nifty is firming up, though volumes are tepid.Since Nifty's upmove is 18 days long now,there is chance that Nifty could do weekly close above 5200 for capitulation of this upmove.So in next 2-3 days I expect a Top and Nifty should likely consolidate in 4800-5200 range after that for few weeks.Monthly range till today is 587 points now.
1. Nifty up by 0.6% with 2.0 breadth.
2. 301st day since the highs of 6338, 26th day since the lows of 4531.
Nifty is firming up, though volumes are tepid.Since Nifty's upmove is 18 days long now,there is chance that Nifty could do weekly close above 5200 for capitulation of this upmove.So in next 2-3 days I expect a Top and Nifty should likely consolidate in 4800-5200 range after that for few weeks.Monthly range till today is 587 points now.
Tuesday, January 24, 2012
Jan24 Update
Nifty moved up with high volumes and +ve breadth to close above 5100. Important points for today.
1. Nifty up by 1.6% with 1.6 breadth.
2. 300th day since the highs of 6338, 25th day since the lows of 4531.
Nifty closed above 5100 levels and has entered into strong resistance zone of 5100-5200.Today was 17th day of upmove from 4588,so this upmove should be close to topping out.If Nifty is making a medium term top here, then Nifty will drift down to make new lows in 4-6 weeks(looks less likely).Else Nifty may enter into consolidation mode for 2-3 weeks before it moves further up for a medium term Top.Nifty extended its monthly range and now stands at 553 points.
1. Nifty up by 1.6% with 1.6 breadth.
2. 300th day since the highs of 6338, 25th day since the lows of 4531.
Nifty closed above 5100 levels and has entered into strong resistance zone of 5100-5200.Today was 17th day of upmove from 4588,so this upmove should be close to topping out.If Nifty is making a medium term top here, then Nifty will drift down to make new lows in 4-6 weeks(looks less likely).Else Nifty may enter into consolidation mode for 2-3 weeks before it moves further up for a medium term Top.Nifty extended its monthly range and now stands at 553 points.
Monday, January 23, 2012
Jan23 Update
Nifty was rangebound in narrow range of 38 points with moderate volumes and neutral breadth. Important points for today.
1. Nifty flat with 1.0 breadth.
2. 299th day since the highs of 6338, 24th day since the lows of 4531.
Nifty is pausing in 5000-5050 range.Today was 16th day of this upmove from 4588.There could be one more shot at 5100+ in next few days before Nifty enters correction/consolidation.
1. Nifty flat with 1.0 breadth.
2. 299th day since the highs of 6338, 24th day since the lows of 4531.
Nifty is pausing in 5000-5050 range.Today was 16th day of this upmove from 4588.There could be one more shot at 5100+ in next few days before Nifty enters correction/consolidation.
Sunday, January 22, 2012
Jan20 Update
Nifty moved further up amid high volumes and neutral breadth. Important points for today.
1. Nifty up by 0.6% with 0.8 breadth.
2.298th day since the highs of 6338, 23rd day since the lows of 4531.
Nifty closed around 5050 levels.Today was 15th day since the start of this upmove from 4588 levels.Timewise, this upmove should not take more than 3-5 days.On medium term basis, I see Nifty's upmove should continue for another 6-7 weeks.January range till today stands at 476 points.
1. Nifty up by 0.6% with 0.8 breadth.
2.298th day since the highs of 6338, 23rd day since the lows of 4531.
Nifty closed around 5050 levels.Today was 15th day since the start of this upmove from 4588 levels.Timewise, this upmove should not take more than 3-5 days.On medium term basis, I see Nifty's upmove should continue for another 6-7 weeks.January range till today stands at 476 points.
Thursday, January 19, 2012
Jan19 Update
Nifty closed above 5000 levels amid very narrow range and moderate volumes. Important points for today.
1. Nifty up by 1.2% with 2.0 breadth.
2. 297th day since the highs of 6338, 22nd day since the lows of 4531.
Nifty closed above 5000 after quite sometime but the range of Nifty was only 32 points.This looks like extreme compression and Nifty should make a big range move now.Since Nifty remains in upward bias,so the chances of upmove are more. Nifty range in this month till now is 435 points.
1. Nifty up by 1.2% with 2.0 breadth.
2. 297th day since the highs of 6338, 22nd day since the lows of 4531.
Nifty closed above 5000 after quite sometime but the range of Nifty was only 32 points.This looks like extreme compression and Nifty should make a big range move now.Since Nifty remains in upward bias,so the chances of upmove are more. Nifty range in this month till now is 435 points.
Wednesday, January 18, 2012
Jan18 Update
Nifty moved in a narrow range and closed marginally -ve with higher volumes and -ve breadth. Important points for today.
1.Nifty down by 0.3% with 0.43 breadth.
2. 296th day since the highs of 6338, 21st day since the lows of 4531.
Nifty paused after yesterday's big move with high volumes and -ve breadth.Nifty has undergone breadth correction without price action in a 49 point range.I don't think this is a short term Top of Nifty, so further upmove is expected in next few days.This week's range stands at 153 points till today.
1.Nifty down by 0.3% with 0.43 breadth.
2. 296th day since the highs of 6338, 21st day since the lows of 4531.
Nifty paused after yesterday's big move with high volumes and -ve breadth.Nifty has undergone breadth correction without price action in a 49 point range.I don't think this is a short term Top of Nifty, so further upmove is expected in next few days.This week's range stands at 153 points till today.
Tuesday, January 17, 2012
Jan17 Update
Nifty bounced today with higher volumes and +ve breadth. Important points for today.
1.Nifty up by 1.9% with 2.2 breadth.
2. 295th day since the highs of 6338, 20th day since the lows of 4531.
Nifty made a decent bounce today and was up all day long.Since next resistance at 5100+ would be strong , so further upmove should happen in next 1-2 days.This upmove started from 4588 and is 12 days old now.So I see good chance that resistance level of 5100+ would be hit in this expiry ie in next 6 days, since this short term upmove is maturing now.
1.Nifty up by 1.9% with 2.2 breadth.
2. 295th day since the highs of 6338, 20th day since the lows of 4531.
Nifty made a decent bounce today and was up all day long.Since next resistance at 5100+ would be strong , so further upmove should happen in next 1-2 days.This upmove started from 4588 and is 12 days old now.So I see good chance that resistance level of 5100+ would be hit in this expiry ie in next 6 days, since this short term upmove is maturing now.
Monday, January 16, 2012
Jan16 Update
Nifty moved in a narrow range of 53 points with low volumes and neutral breadth. Important points for today.
1. Nifty up by 0.15% with 0.85 breadth.
2. 294th day since the highs of 6338, 19th day since the lows of 4531.
Nifty is moving in a narrow range for 5 days now.Range breakout looks likely to me with Nifty's upward bias .I expect the next surge of Nifty to target 5200.
1. Nifty up by 0.15% with 0.85 breadth.
2. 294th day since the highs of 6338, 19th day since the lows of 4531.
Nifty is moving in a narrow range for 5 days now.Range breakout looks likely to me with Nifty's upward bias .I expect the next surge of Nifty to target 5200.
Friday, January 13, 2012
Jan13 Update
Today again was narrow range day with moderately high volumes and +ve breadth. Important points for today.
1. Nifty up by 0.7% with 2.3 breadth.
2. 293rd day since the highs of 6338, 18th day since the lows of 4531.
Nifty has closed above 4800 for 4 consecutive days, implies that Nifty has consolidated the 100+ point move to 4850 made early in the week. Upmove looks very likely from here.Nifty's range in this month till today is 313 points.
1. Nifty up by 0.7% with 2.3 breadth.
2. 293rd day since the highs of 6338, 18th day since the lows of 4531.
Nifty has closed above 4800 for 4 consecutive days, implies that Nifty has consolidated the 100+ point move to 4850 made early in the week. Upmove looks very likely from here.Nifty's range in this month till today is 313 points.
Thursday, January 12, 2012
Jan12 Update
Nifty continued its narrow range move but with higher volumes and neutral breadth. Important points for today.
1. Nifty down by 0.6% with 1.1 breadth.
2. 292nd day since the highs of 6338,17th day since the lows of 4531
Nifty is consolidating in 4800-4850 range for 3 days now.I expect decisive move of Nifty likely early next week.On the upside 5100+ would be the first breakout target while on downside 4600+ should provide strong support.I see Nifty +vly biased, so probability of upmove looks more to me.
1. Nifty down by 0.6% with 1.1 breadth.
2. 292nd day since the highs of 6338,17th day since the lows of 4531
Nifty is consolidating in 4800-4850 range for 3 days now.I expect decisive move of Nifty likely early next week.On the upside 5100+ would be the first breakout target while on downside 4600+ should provide strong support.I see Nifty +vly biased, so probability of upmove looks more to me.
Wednesday, January 11, 2012
Jan11 Update
Nifty moved in a very narrow range with moderate volumes and +ve breadth. Important points for today.
1. Nifty up by 0.2% with 2.0 breadth.
2. 291st day since the highs of 6338, 16th day since lows of 4531.
Nifty today sustained the breakout move of yesterday with increased volumes.If Nifty stays above 4800 for next 2 days, then next week has good chance of Nifty seeing 5100 levels.I see 4531 as a reliable medium term bottom having been formed now.
1. Nifty up by 0.2% with 2.0 breadth.
2. 291st day since the highs of 6338, 16th day since lows of 4531.
Nifty today sustained the breakout move of yesterday with increased volumes.If Nifty stays above 4800 for next 2 days, then next week has good chance of Nifty seeing 5100 levels.I see 4531 as a reliable medium term bottom having been formed now.
Tuesday, January 10, 2012
Jan10 Update
Nifty had a good bounce today with moderate volumes and +ve breadth. Important points for today.
1. Nifty up by 2.3% with 4.7 breadth.
2. 290th day since the highs of 6338, 15th day since the lows of 4531.
Nifty broke out of its small consolidation range and closed above 4800. If Nifty sustains the upmove for another 1-2 days then I expect Nifty to halt near 5100 only now.Range for this month till today is 267 points.
1. Nifty up by 2.3% with 4.7 breadth.
2. 290th day since the highs of 6338, 15th day since the lows of 4531.
Nifty broke out of its small consolidation range and closed above 4800. If Nifty sustains the upmove for another 1-2 days then I expect Nifty to halt near 5100 only now.Range for this month till today is 267 points.
Jan9 Update
Nifty moved in 60 point range with low volumes and +ve breadth. Important points for today.
1. Nifty down by 0.1% with 1.8 breadth.
2. 289th day since the highs of 6338, 14th day since the lows of 4531.
Nifty again closed around 4750 levels.Nifty is in high congestion zone for 5 days now.I think Nifty trades with +ve bias now, so next move should be a upmove to next resistance zone of 5100-5200.January range till today is 206 points only.
1. Nifty down by 0.1% with 1.8 breadth.
2. 289th day since the highs of 6338, 14th day since the lows of 4531.
Nifty again closed around 4750 levels.Nifty is in high congestion zone for 5 days now.I think Nifty trades with +ve bias now, so next move should be a upmove to next resistance zone of 5100-5200.January range till today is 206 points only.
Sunday, January 8, 2012
Jan6 Update
Nifty dropped down but recovered later with low volumes and neutral breadth. Important points for today.
1. Nifty up by 0.1% with 1.0 breadth.
2. 288th day since the highs of 6338, 13th day since the lows of 4531.
Nifty has paused at 4750 now for 4 days.I don't see lows being retested again or new lows formed, so Nifty's break of the range is expected to happen on upside.This weeks range was 206 points.
1. Nifty up by 0.1% with 1.0 breadth.
2. 288th day since the highs of 6338, 13th day since the lows of 4531.
Nifty has paused at 4750 now for 4 days.I don't see lows being retested again or new lows formed, so Nifty's break of the range is expected to happen on upside.This weeks range was 206 points.
Thursday, January 5, 2012
Jan5 Update
Nifty moved in very narrow range of 49 points with low volumes and neutral breadth. Important points for today.
1.Nifty closed flat with 1.2 breadth.
2.287th day since the highs of 6338, 12th day since the lows of 4531.
Nifty has paused for 2 days now.If tomorrows weekly closing is around 4750-4800 levels, then Nifty's upside bias will be stronger.Since Nifty is pausing at 4800, so on upmove ,I would expect Nifty to see close to 5100 levels.
1.Nifty closed flat with 1.2 breadth.
2.287th day since the highs of 6338, 12th day since the lows of 4531.
Nifty has paused for 2 days now.If tomorrows weekly closing is around 4750-4800 levels, then Nifty's upside bias will be stronger.Since Nifty is pausing at 4800, so on upmove ,I would expect Nifty to see close to 5100 levels.
Jan 4 Update
Nifty was sideways in narrow range with low volumes and neutral breadth. Important points for today.
1.Nifty down by 0.35% with 1.2 breadth.
2.286th day since the highs of 6338, 11th day since the lows of 4531.
Nifty paused today after yesterday's big runup. Nifty could well remain sideways for next 2 days also.If that happens, then chances of big upside(5000+) will be there next week.I don't see indication of Nifty going down to make new lows for now in short term.
1.Nifty down by 0.35% with 1.2 breadth.
2.286th day since the highs of 6338, 11th day since the lows of 4531.
Nifty paused today after yesterday's big runup. Nifty could well remain sideways for next 2 days also.If that happens, then chances of big upside(5000+) will be there next week.I don't see indication of Nifty going down to make new lows for now in short term.
Tuesday, January 3, 2012
Jan3 Update
Nifty bounced strongly today with low volumes and +ve breadth. Important points for today.
1. Nifty up by 2.7% with 4.36 breadth.
2. 285th day since the highs of 6338, 10th day since the lows of 4531.
Nifty had a strong bounce today.Today's bounce increases the validity of the medium term bottom having been formed at 4531.Nifty's next resistance should come at 5050-5100 levels given the strong breadth in today's bounce.I expect to see sustained upmove from here upto 5500-6000 levels in next 2 months or so.
1. Nifty up by 2.7% with 4.36 breadth.
2. 285th day since the highs of 6338, 10th day since the lows of 4531.
Nifty had a strong bounce today.Today's bounce increases the validity of the medium term bottom having been formed at 4531.Nifty's next resistance should come at 5050-5100 levels given the strong breadth in today's bounce.I expect to see sustained upmove from here upto 5500-6000 levels in next 2 months or so.
Monday, January 2, 2012
Jan2 Update
Nifty was sideways in narrow range with low volumes and neutral breadth. Important points for today.
1. Nifty up by 0.25% with 1.15 breadth.
2. 284th day since the highs of 6338, 9th day since the lows of 4531.
Nifty dipped below 4600 but closed above it.If Nifty manages to close above 4600 for next 2 days, then there is a good chance of medium term bottom having been formed and Nifty to remain in upward bias for next few weeks.I expect around 1000 point move in Nifty by budget time.So taking today's low as the low then 1000 points will be ~5600 on Nifty.
1. Nifty up by 0.25% with 1.15 breadth.
2. 284th day since the highs of 6338, 9th day since the lows of 4531.
Nifty dipped below 4600 but closed above it.If Nifty manages to close above 4600 for next 2 days, then there is a good chance of medium term bottom having been formed and Nifty to remain in upward bias for next few weeks.I expect around 1000 point move in Nifty by budget time.So taking today's low as the low then 1000 points will be ~5600 on Nifty.
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