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.