Apr30 Update

Nifty traded above 5200 in 61 point range with low volumes and neutral breadth. Important points for today.

1. Nifty up by 0.8% with 1.4 breadth.
2. 364th day since the highs of 6338, 90th day since the lows of 4531, 47th day since the swing highs of 5629.

Nifty remains stuck in its narrow range consolidation unable to find trigger to break out of its range.Nifty ended this month with a range of 218 points(5160-5378).Nifty is likely to expand its quarterly range in this month. Since Nifty is moving in a slow paced narrow range,so any breakout from this range is likely to be modest in speed only.

Apr27 Update

Nifty continued with its sideways move around 5200 with lower volumes and neutral breadth. Important points for today.

1. Nifty flat with 0.65 breadth.
2. 362nd day since the highs of 6338, 88th day since the lows of 4531, 45th day since the swing highs of 5629.

Nifty closed below 5200 today. Nifty's weekly closing will be tomorrow.So if Nifty closes around 5200 tomorrow then , on weekly timeframe Nifty is starting to point toward downside.This month's range till today now stands at 224 points.Direction of Nifty will only be clear if it closes below 5135(March's low) or closes above 5400.

Apr26 Update

Nifty was again stuck in a narrow range of 36 points with low volumes and neutral breadth. Important points for today

1. Nifty down by 0.25% with 0.65 breadth
2. 361st day since the highs of 6338, 87th day since the lows of 4531, 44th day since the swing highs of 5629.

Nifty moved in  narrow range on expiry day.Volumes were also low. Though Nifty closed below 5200, but previous swing lows of 5135 were not broken. Break and close below 5135 shud indicate Nifty has broken the range on downside and may head downwards towards lower support levels of 4600-4800.With 2days left in this month, Nifty's range stands at 218 points.

Apr24 Update

Nifty hovered in a narrow range and closed above 5200 with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.4% with 0.9 breadth.
2. 359th day since the highs of 6338, 85th day since the lows of 4531, 42nd day since the swing highs of 5629.

Nifty paused today after yesterday's steep fall.Nifty should resume its downtrend if yesterday's move was start of an impulsive move else Nifty remains in sideways rangebound movement. Timing indicators point towards range break to happen now.Nifty previous upmove from 4531-5629 was 43 days long.April's range till today stands at 198 points.

Apr23 Update

Nifty made a big swing today breaking below 5200 levels with lower volumes and -ve breadth. Important points for today.

1. Nifty down by 1.75% with 0.3 breadth.
2. 358th day since the highs of 6338, 84th day since the lows of 4531, 41st day since swing highs of 5629.

Nifty had a volatile day today but managed to close at 5200 levels. Close below previous low of 5135 levels would indicate Nifty has broken down and is headed down. Range for this month stands at 193 points till today.Range expansion looks likely on downside but may happen after expiry.This is 10th week since the highs in mid Feb.Next 2-3 weeks should likely see medium term low in Nifty if Nifty is breaking down from here.

Apr20 Update

Nifty hovered around 5300 levels with lower volumes and -ve breadth. Important points for today.

1. Nifty down by 0.8% with 0.55 breadth.
2. 357th day since the highs of 6338, 83rd day since the lows of 4531, 40th day since the swing highs of 5629.

Nifty made a big intraday dip below 5250 but recovered later on to close just below 5300.Nifty ended the week with a gain of 1.8%. This was 9th week since the swing highs of 5600+. Nifty remains in sideways movement for now but range for this week has increased to 159 points.Monthly range remains at 193 points. Expansion of monthly range is likely in next 6 days of this month.

Apr19 Update

Nifty moved in yesterdays range but closed in +ve with lower volumes and neutral breadth.

1. Nifty up by 0.7%.
2. 356th day since the highs of 6338,82nd day since the lows of 4531, 39th day since the swing highs of 5629.

Nifty moved in 53 point range today.Nifty's sideways low range movement continues. This is 9th week since Nifty made weekly high of 5564 mid february. Timewise Nifty is approaching a decision point,so I expect up/down move in Nifty soon.

Apr18 Update

Nifty traded with +ve bias with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.2% with 1.3 breadth.
2. 355th day since the highs of 6338, 81st day since the lows of 4531, 38th day since the swing highs of 5629.

Nifty gave up the gains of 1st half and closed just at 5300.Nifty's short term bias is +ve but there is no momentum on upside. Today Nifty traded in a 49 point range after showing increased trading range since last 2-3 days.Weekly Range till today stands at 160 points.

Apr17 Update

Nifty retained 5200 today and moved towards 5300 with moderately high volumes and neutral breadth.

1. Nifty up by 1.2% with 1.4 breadth.
2. 354th day since the highs of 6338, 80th day since the lows of 4531, 37th day since the swing highs of 5629.

Nifty staged a moderate comeback today.Volatility has increased over the last 3 days. This is indicative that a decisive moved should be near.5150/5400 remain as inflection points.Monthly/Quarterly range remains at 193 points till today.

Apr16 Update

Nifty dipped below 5200 but recovered later on amid low volumes and +ve breadth. Important points for today.

1. Nifty up by 0.4% with 1.4 breadth.
2. 353rd day since the highs of 6338, 79th day since the lows of 4531, 36th day since the swing highs of 5629.

Nifty moved in a 50 points range after a volatile session on friday.Today's move was not confirming previous day's downfall, so Nifty continues its sideways range for now.

Apr13 Update

Nifty had a volatile day today as it went first above 5300 , then below 5200 with higher volumes and -ve breadth.

1. Nifty down by 1.35% with 0.55 breadth.
2. 352nd day since the highs of 6338, 78th day since the lows of 4531 , 35th day since the swing highs of 5629.

Nifty closed just above 5200 levels after trading +ve at open.Nifty closed 2.3% -ve weekly closing.If Nifty has started its impulsive downmove, then next week could see big downside moves. Todays' -ve weekly closing increases likelihood of next downmove , though Nifty could keep hovering around 5000-5200 levels till expiry .This week's range was 121 points and monthly range till today stands at 193 points.

Apr 12 Update

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

1. Nifty up by 1.0% with 1.9 breadth.
2. 351st day since the highs of 6338, 77th day since the lows of 4531, 34th day since the swing highs of 5629.

Nifty moved up with a range of 44 points today.Nifty is drifting directionless amid moderate to low volumes and narrow range since many days now.Periods of less volatility are followed by periods of high volatility.Nifty going up above 5600 is less probable, so I expect Nifty to trade like this, till it makes it way for a definitive downward slide. This week's range till today stands at 100 points.

Apr11 Update

Nifty slipped below 5200 levels but recovered later on with moderate volumes and neutral breadth.

1. Nifty down by 0.3% with 0.7 breadth.
2. 350th day since the highs of 6338, 76th day since the lows of 4531, 33rd day since the swing highs of 5629.

Nifty slipped below 5200 level but closed above it.Nifty's range today was 73 points. Nifty remains stuck in sideways range and not taking any clear direction.5150/5500 remain as breakdown/breakout points.Nifty's range in this week till today stands at 97 points and this month's range at 187 points.I expect that chances of range expansion in this week are good.

Apr10 Update

Nifty moved in narrow range of 44 points with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.2% with 1.15 breadth.
2. 349th day since the highs of 6338,75th day since the lows of 4531, 32nd day since the swing highs of 5629.

Nifty closed mildly +ve . Nifty's range in this month has been extremely narrow on most of days.This should soon result in range expansion in coming days.Nifty's biased towards downside, so I expect range expansion to likely happen on downside.The range in this week stands at 76 points till today and monthly range is 167 points.

Apr9 Update

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

1. Nifty down by 1.7% with 0.5 breadth.
2. 348th day since the highs of 6338, 74th day since the lows of 4531, 31st day since the swing highs of 5629.

Nifty closed below 5250 levels.Today's volumes were very low, lowest in about 3 months.This is 8th week of Nifty since it hit highs of 5629.Earlier lows of 5139 will be crucial here.If Nifty breaches this level again, then further downsides are likely.The current downmove since 5629 does not look like it has completed.To possible likely downside options for Nifty are i)Nifty breaches 5139 levels this week but bounces back to 5400+ level by end of week.ii) Nifty closes in the red on weekly basis around 5200 levels.For both the options, Likelyhood of Nifty touching new lows will increase.

Apr4 Update

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

1. Nifty down by 0.7% with 1.0 breadth.
2. 347th day since the highs of 6338, 73rd day since the lows of 4531, 30th day since the swing highs of 5629.

Nifty's range today was only 33 points.Nifty has moved in a narrow range of 100 points in this week.After 5 consecutive down weeks, Nifty seems like in pause mode since last 2 weeks.Since Nifty breached the monthly lows of Feb in March,I expect Nifty to resume its weekly downtrend soon.

Apr3 Update

Nifty inched upwards with moderately low volumes and +ve breadth. Important points for today.

1. Nifty up by 0.8% with 2.0 breadth.
2. 346th day since the highs of 6338, 72nd day since the lows of 4531, 29th day since the swing highs of 5629.

Nifty moved further up above 5350.Today's range was very narrow at 34 points only.Nifty is up 3 days in a row but the volumes are moderate to low.This may be a corrective rally or a new impulsive move.Incase of a impulsive move, Nifty should cross 5500+ levels by next week.If Nifty chooses to go below 5200 again , then that shud be the start of a new impulsive downmove.This week's range till today is 100 points.

Apr2 Update

Nifty moved in a very narrow range of 53 points with low volumes and +ve breadth. Important points for today.

1. Nifty up by 0.4% with 2.75 breadth.
2. 345th day since the highs of 6338, 71st day since the lows of 4531, 28th day since the swing highs of 5629.

Nifty edged above 5300 but the volumes were quite low.Volumes indicate Nifty may find it difficult to move further up but +ve breadth may give some more upside leg to Nifty.How Nifty negotiates with 5400+ level in next 2-3 days will indicate the intent and strength of Nifty.Nifty has clearly formed a short term double bottom at 5150-5200 zone,so if bull scenario is to happen, then Nifty should show strength above 5400 levels in next few days.But if Nifty stays sideways around 5300 levels or drifts down, then it is a sign of weakness in Nifty.