Nifty ended flat with high volumes and neutral breadth. Important points for today.
1.Nifty up by 0.2% with 1.4 breadth.
2. 323rd day since the highs of 6338, 49th day since the lows of 4531.
Nifty ended flat today though it moved in 100 point range.Nifty is forming a short term base here with downside around 5200 levels.If Nifty moves up next 2 weeks then I expect Nifty to revisit the recent lows toward month end , else Nifty may try to consolidate over here and then move up towards middle of the month.Monthly closing today was around 4% up fro january.
Wednesday, February 29, 2012
Monday, February 27, 2012
Feb27 Update
Nifty fell sharply with moderately high volumes and -ve breadth. Important points for today.
1. Nifty down by 2.7% with 0.18 breadth.
2. 322nd day since the highs of 6338, 47th day since the lows of 4531.
Nifty closed below 5300 levels today.Nifty has corrected sharply in last 4 days.The correction reaffirms 1 point that either Medium term Top is formed or it should be close to the highs recorded already.I see support of Nifty coming in around 5100-5300 zone.
1. Nifty down by 2.7% with 0.18 breadth.
2. 322nd day since the highs of 6338, 47th day since the lows of 4531.
Nifty closed below 5300 levels today.Nifty has corrected sharply in last 4 days.The correction reaffirms 1 point that either Medium term Top is formed or it should be close to the highs recorded already.I see support of Nifty coming in around 5100-5300 zone.
Sunday, February 26, 2012
Feb24 Update
Nifty dropped down further on 1st day of new series with very high volumes and -ve breadth. Important points for today.
1. Nifty down by 1.0% with 0.5 breadth.
2. 321st day since the highs of 6338, 46th day since the lows of 4531.
Nifty's weekly close 2.5% lower.Such a sharp fall indicates that this is good signal that Nifty has topped out or will Top out within 100 points of 5630 levels.Today was 8th week since the upmove started.This month's range stands at 470 points and quarterly range at 1041 points.March may just prepare the ground for the fall with Nifty moving between support of ~5200 to 5700 resistance level.
1. Nifty down by 1.0% with 0.5 breadth.
2. 321st day since the highs of 6338, 46th day since the lows of 4531.
Nifty's weekly close 2.5% lower.Such a sharp fall indicates that this is good signal that Nifty has topped out or will Top out within 100 points of 5630 levels.Today was 8th week since the upmove started.This month's range stands at 470 points and quarterly range at 1041 points.March may just prepare the ground for the fall with Nifty moving between support of ~5200 to 5700 resistance level.
Thursday, February 23, 2012
Feb23 Update
Nifty Slid further down amid high volumes and -ve breadth. Important points for today.
1. Nifty down by 0.4% with 0.5 breadth.
2. 320th day since the highs of 6338, 45th day since the lows of 4531.
Nifty closed below 5500 today.Nifty is entering into correction mode now though a spike above 5600 is possible in the remaining days of this month but that should likely be a Topping formation then.Downside to me looks till around 5200 levels.If Nifty regains 5600+ level in this/next week then I see a good chance of that being a medium term Top then.
1. Nifty down by 0.4% with 0.5 breadth.
2. 320th day since the highs of 6338, 45th day since the lows of 4531.
Nifty closed below 5500 today.Nifty is entering into correction mode now though a spike above 5600 is possible in the remaining days of this month but that should likely be a Topping formation then.Downside to me looks till around 5200 levels.If Nifty regains 5600+ level in this/next week then I see a good chance of that being a medium term Top then.
Wednesday, February 22, 2012
Feb22 Update
Nifty dropped down today with high volumes and -ve breadth. Important points for today.
1. Nifty down by 1.8% with 0.2 breadth.
2. 319th day since the highs of 6338, 44th day since the lows of 4531.
Nifty made a much desired correction atlast. If today's correction is reversed swiftly in next 2-3 days to form a new Top, then that would most likely be a medium term Top of Nifty to me.Or if Nifty slides down from here, then Nifty may move in a wide range of 400-500 points next month.The range for this month stands at 470 points and this quarters range is now 1041 points.
1. Nifty down by 1.8% with 0.2 breadth.
2. 319th day since the highs of 6338, 44th day since the lows of 4531.
Nifty made a much desired correction atlast. If today's correction is reversed swiftly in next 2-3 days to form a new Top, then that would most likely be a medium term Top of Nifty to me.Or if Nifty slides down from here, then Nifty may move in a wide range of 400-500 points next month.The range for this month stands at 470 points and this quarters range is now 1041 points.
Tuesday, February 21, 2012
Feb21 Update
Nifty managed to close above 5600 today though it moved in narrow range of 60 points with high volumes and neutral breadth. Important points for today.
1. Nifty up by 0.8% with 1.3 breadth.
2. 318th day since the highs of 6338, 43rd day since the lows of 4531.
Nifty closed above 5600 with high volumes.Upside momentum remains good in Nifty but price action remains moderate.Timewise Nifty is approaching medium term Top but given the +ve momentum,Nifty should slow down first before it reverses. Nifty expanded the monthly and quarterly today being at 462 & 1033 points.On quarterly basis ,Nifty's range in this quarter is now highest in the last 10 Qtr's ie since Q3'09.
1. Nifty up by 0.8% with 1.3 breadth.
2. 318th day since the highs of 6338, 43rd day since the lows of 4531.
Nifty closed above 5600 with high volumes.Upside momentum remains good in Nifty but price action remains moderate.Timewise Nifty is approaching medium term Top but given the +ve momentum,Nifty should slow down first before it reverses. Nifty expanded the monthly and quarterly today being at 462 & 1033 points.On quarterly basis ,Nifty's range in this quarter is now highest in the last 10 Qtr's ie since Q3'09.
Saturday, February 18, 2012
Feb17 Update
Nifty moved past 5600 with heavy volumes and neutral breadth. Important points for today.
1. Nifty up by 0.8% with 0.8 breadth.
2. 317th day since the highs of 6338, 42nd day since the lows of 4531.
Nifty surpassed 5600 intraday but closed below it.Volumes are very heavy since last few days indicating the maturity of the move.If Nifty crosses 5600 levels then it is headed for 5900-6000 levels but if Nifty does not cross 5600 in next 1-2 days then a sharp fall is not ruled out next week with Nifty rebounding after the fall.Nifty expanded the month range to 447 points and quarterly range to 1018 points.
1. Nifty up by 0.8% with 0.8 breadth.
2. 317th day since the highs of 6338, 42nd day since the lows of 4531.
Nifty surpassed 5600 intraday but closed below it.Volumes are very heavy since last few days indicating the maturity of the move.If Nifty crosses 5600 levels then it is headed for 5900-6000 levels but if Nifty does not cross 5600 in next 1-2 days then a sharp fall is not ruled out next week with Nifty rebounding after the fall.Nifty expanded the month range to 447 points and quarterly range to 1018 points.
Thursday, February 16, 2012
Feb16 Update
Nifty moved in 48 point range with high volumes and neutral breadth. Important points for today.
1. Nifty down by 0.2% with 1.3 breadth.
2. 316th day since the highs of 6338, 41st day since the lows of 4531.
Nifty again closed below 5500 though the range was very narrow.Nifty's high today was yesterday's closing.So Nifty has not shown further aggression after yesterday's big move.Given the high volumes, Nifty is recording, there is still more room for Nifty to move up but this should now be tepid movement and likely capitulation of the Rally from mid-december.
1. Nifty down by 0.2% with 1.3 breadth.
2. 316th day since the highs of 6338, 41st day since the lows of 4531.
Nifty again closed below 5500 though the range was very narrow.Nifty's high today was yesterday's closing.So Nifty has not shown further aggression after yesterday's big move.Given the high volumes, Nifty is recording, there is still more room for Nifty to move up but this should now be tepid movement and likely capitulation of the Rally from mid-december.
Wednesday, February 15, 2012
Feb15 Update
Nifty had a breakout today with high volumes and +ve breadth. Important points for today.
1. Nifty up by 2.3% with 2.3 breadth.
2. 315th day since the highs of 6338, 40th day since the lows of 4531.
Nifty had a big breakout today and closed above 5500 levels.Range expansion in this week has taken on the upside .With today's move , Nifty range is 191 points till today.Range expansion should continue further in this week.If Nifty closes above 5650 without halting then Nifty may head towards 6000 levels.But if 5650 acts as resistance then there could be a violent correction to around 5200 levels in next 2 weeks.This months range now stands at 383 points.
1. Nifty up by 2.3% with 2.3 breadth.
2. 315th day since the highs of 6338, 40th day since the lows of 4531.
Nifty had a big breakout today and closed above 5500 levels.Range expansion in this week has taken on the upside .With today's move , Nifty range is 191 points till today.Range expansion should continue further in this week.If Nifty closes above 5650 without halting then Nifty may head towards 6000 levels.But if 5650 acts as resistance then there could be a violent correction to around 5200 levels in next 2 weeks.This months range now stands at 383 points.
Tuesday, February 14, 2012
Feb14 Update
Nifty moved in a narrow range of 50 points with moderately high volumes and neutral breadth. Important points for today.
1. Nifty up by 0.5% with 1.3 breadth.
2. 314th day since the highs of 6338,39th day since the lows of 4531.
Nifty is moving in 35 point range (closing basis) since last 4 days.I think this kind of movement is likely to continue till next week.Range of this week is 77 points till now.Since last week's range was 105 points, so if this week is expansion then I see Nifty to test lower 5200 levels this week.
1. Nifty up by 0.5% with 1.3 breadth.
2. 314th day since the highs of 6338,39th day since the lows of 4531.
Nifty is moving in 35 point range (closing basis) since last 4 days.I think this kind of movement is likely to continue till next week.Range of this week is 77 points till now.Since last week's range was 105 points, so if this week is expansion then I see Nifty to test lower 5200 levels this week.
Monday, February 13, 2012
Feb13 Update
Nifty was sideways within 65-70 point range with moderate volumes and neutral breadth. Important points for today.
1. Nifty up by 0.2% with 1.0 breadth.
2. 313th day since the highs of 6338, 38th day since the lows of 4531.
Nifty seems to be finally pausing now.This kind of narrow range consolidation may continue till around expiry time.I expect that there should be one more move of this uptrend left which may begin after expiry.February is turning out to be a narrow range month with range of 268 points till now.Last week's range was only 105 points involving short term Top.So this week could see range expansion probably on the downside.
1. Nifty up by 0.2% with 1.0 breadth.
2. 313th day since the highs of 6338, 38th day since the lows of 4531.
Nifty seems to be finally pausing now.This kind of narrow range consolidation may continue till around expiry time.I expect that there should be one more move of this uptrend left which may begin after expiry.February is turning out to be a narrow range month with range of 268 points till now.Last week's range was only 105 points involving short term Top.So this week could see range expansion probably on the downside.
Saturday, February 11, 2012
Feb10 Update
Nifty wavered around 5400 levels with high volumes but closed below 5400 levels. Important points for today.
1. Nifty down by 0.6% with 0.8 breadth.
2. 312th day since the highs of 6338, 37th day since the lows of 4531.
Nifty closed in the green for the 6th consecutive week.This week's range was 125 points.Narrow range Top is indicator of Short term Top.There is good chance that Nifty may enter into pause/correction mode now with 5200 as the base support.I expect that medium term Top of Nifty should be there around mid march timezone, after which Nifty may begin its impulsive downmove to new lows.
1. Nifty down by 0.6% with 0.8 breadth.
2. 312th day since the highs of 6338, 37th day since the lows of 4531.
Nifty closed in the green for the 6th consecutive week.This week's range was 125 points.Narrow range Top is indicator of Short term Top.There is good chance that Nifty may enter into pause/correction mode now with 5200 as the base support.I expect that medium term Top of Nifty should be there around mid march timezone, after which Nifty may begin its impulsive downmove to new lows.
Thursday, February 9, 2012
Feb9 Update
Nifty marched upwards above 5400 with high volumes and +ve breadth. Important points for today.
1. Nifty up by 0.85% with 2.0 breadth.
2. 311th day since the highs of 6338,36th day since the lows of 4531.
Nifty closed above 5400 levels today.Nifty has closed above previous medium term high of 5399.This is indicating of a very bullish (6000+) levels in coming weeks or this is just deception.Will get more insight into this over the next 2-3 weeks.Nifty range for this week is 101 points till today.This is turning out to be a bullish week with a very narrow range and is indicator of a short term Top.
1. Nifty up by 0.85% with 2.0 breadth.
2. 311th day since the highs of 6338,36th day since the lows of 4531.
Nifty closed above 5400 levels today.Nifty has closed above previous medium term high of 5399.This is indicating of a very bullish (6000+) levels in coming weeks or this is just deception.Will get more insight into this over the next 2-3 weeks.Nifty range for this week is 101 points till today.This is turning out to be a bullish week with a very narrow range and is indicator of a short term Top.
Wednesday, February 8, 2012
Feb8 Update
Nifty stayed within 5300-5400 amid high volumes and +ve breadth. Important points for today.
1. Nifty up by 0.65% with 1.85 breadth.
2. 310th day since the highs of 6338, 35th day since the lows of 4531.
Nifty closed above 5350 levels again amid high volumes.Nifty is in 100 point range since last 4 days though volumes are high.I expect Nifty to start consolidating here without undergoing correction in price.This week's range till today is 91 points.
1. Nifty up by 0.65% with 1.85 breadth.
2. 310th day since the highs of 6338, 35th day since the lows of 4531.
Nifty closed above 5350 levels again amid high volumes.Nifty is in 100 point range since last 4 days though volumes are high.I expect Nifty to start consolidating here without undergoing correction in price.This week's range till today is 91 points.
Feb7 Update
Nifty opened above 5400 but could not sustain at higher levels amid higher volumes and -ve breadth. Important points for today.
1. Nifty down by 0.5% with 0.65 breadth.
2. 309th day since the highs of 6338, 34th day since the lows of 4531.
Nifty today breached the previous medium term highs of 5399 also.Nifty has done bullish crossover of intraday and daily closing highs.Nifty could undergo violent correction here or stay in narrow range consolidation move of around 200 points.Both moves will have implications for the next move ahead.I will look out for the kind of correction mode Nifty enters to decide about the next course of action. Nifty's range till today is 254 points.
1. Nifty down by 0.5% with 0.65 breadth.
2. 309th day since the highs of 6338, 34th day since the lows of 4531.
Nifty today breached the previous medium term highs of 5399 also.Nifty has done bullish crossover of intraday and daily closing highs.Nifty could undergo violent correction here or stay in narrow range consolidation move of around 200 points.Both moves will have implications for the next move ahead.I will look out for the kind of correction mode Nifty enters to decide about the next course of action. Nifty's range till today is 254 points.
Monday, February 6, 2012
Feb6 Update
Nifty closed above 5350 with high volumes and +ve breadth. Important points for today.
1. Nifty up by 0.7% with 2.0 breadth.
2. 308th day since the highs of 6338, 33rd day since the lows of 4531.
Nifty closed above previous medium term swing closing high of 5360.Nifty has done a bullish break by breaking previous high in 33 days while it took 34 days to fall to 4531 from 5399.Though Nifty is yet to break the highs of 5399.I don't expect Nifty to undergo correction but enter into narrow range consolidation for next few days.Nifty is entering a big inflection point here as the move after pause is expected to clear up further bull/bear path of Nifty.This month's range stands at 231 points till today.
1. Nifty up by 0.7% with 2.0 breadth.
2. 308th day since the highs of 6338, 33rd day since the lows of 4531.
Nifty closed above previous medium term swing closing high of 5360.Nifty has done a bullish break by breaking previous high in 33 days while it took 34 days to fall to 4531 from 5399.Though Nifty is yet to break the highs of 5399.I don't expect Nifty to undergo correction but enter into narrow range consolidation for next few days.Nifty is entering a big inflection point here as the move after pause is expected to clear up further bull/bear path of Nifty.This month's range stands at 231 points till today.
Friday, February 3, 2012
Feb2 Update
Nifty moved further up with very high volumes and neutral breadth. Important points for today.
1. Nifty up by 0.7% with 1.2 breadth.
2. 306th day since the highs of 6338, 31st day since the lows of 4531.
Nifty moved up with very high volumes though price movement and breadth was moderate. Today was 3rd consecutive day of upmove in Nifty.Nifty's price movement is tepid though volumes are increasing very rapidly.This is indication of Nifty approaching its short term Top.
1. Nifty up by 0.7% with 1.2 breadth.
2. 306th day since the highs of 6338, 31st day since the lows of 4531.
Nifty moved up with very high volumes though price movement and breadth was moderate. Today was 3rd consecutive day of upmove in Nifty.Nifty's price movement is tepid though volumes are increasing very rapidly.This is indication of Nifty approaching its short term Top.
Wednesday, February 1, 2012
Feb1 Update
Nifty extended its upmove with high volumes and +ve breadth. Important points for today.
1. Nifty up by 0.7% with 2.35 breadth.
2. 305th day since the highs of 6338, 30th day since the lows of 4531.
Nifty closed above 5200 today very high volumes.Nifty has retraced 1 day fall in slightly more than 1 day.Next 2-3 days should likely see a short term Top in Nifty.If Nifty stays till around 5300 before reversing then I expect Nifty to stay in consolidation phase of 300-400 points for few days.But it is also likely given the good momentum in Nifty that Nifty goes to 5400 levels before it reverses down.
1. Nifty up by 0.7% with 2.35 breadth.
2. 305th day since the highs of 6338, 30th day since the lows of 4531.
Nifty closed above 5200 today very high volumes.Nifty has retraced 1 day fall in slightly more than 1 day.Next 2-3 days should likely see a short term Top in Nifty.If Nifty stays till around 5300 before reversing then I expect Nifty to stay in consolidation phase of 300-400 points for few days.But it is also likely given the good momentum in Nifty that Nifty goes to 5400 levels before it reverses down.
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