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.