Oct31 Update

Nifty moved around 5600 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.4% with 1.25 breadth.
2. 489th day since the highs of 6338,215th day since the lows of 4531.

Nifty continues with its rangebound narrow directionless movement.Nifty has closed below 5630-5640 that was support for few days but has not gone down much below that.I think that tells that Nifty has support at lower levels but not triggers to take it up.Unless Nifty regains momentum, upside will be difficult and 5500-5550 should act as good support levels for any bullish possibility to remain.Monthly range ended with 232 points.

Oct30 Update

Nifty slipped below 5600 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 1.2% with 1.45 breadth.
2. 488th day since the highs of 6338, 214th day since the lows of 4531.

Nifty's has  broken its range on the downside. If the downside limits around here with 50-60 points then this could be the capitulation of the sideways movement of last few weeks. But if Nifty closes below 5500 levels, then further lows could be seen quickly in next few days.Monthly range now stands at 226 points and weekly range is 100 points till today.

Oct29 Update

Nifty continues its sideways movement with low volumes and neutral breadth. Important points for today.

1. Nifty flat with 0.65 breadth.
2. 487th day since the highs of 6338, 213th day since the lows of 4531.

Nifty continues to trade in a clueless fashion.Unless upper/lower end of Range breaks, directionless trading will continue.But October has range of only 182 points till today and this is very narrow range.Nifty remains in medium term upmove since lower support levels are retained till now.

Oct26 Update

Nifty slid further today with lower volumes and +ve breadth.Important points for today.

1. Nifty down by 0.75% with 1.5 breadth.
2. 486th day since the highs of 6338, 212th day since the lows of 4531.

Nifty closed the week in the Red.Nifty has now been in correction for 3 weeks after 5 weeks of upmove. Nifty should see a breakout/breakdown move soon since it is moving in a narrow zone of about 100 points for last few days.Monthly range is confined to 182 points only till now.This week's range was 79 points only.Yearly range is 1227 points till now.4588-5815 are the endpoints of the range.few 100 points expansion is very much likely probably on upside in coming days.

Oct25 Update

Nifty moved in a narrow range on expiry day with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.25% with 0.7 breadth.
2. 485th day since the highs of 6338, 211st day since the lows of 4531.

Nifty's range today was only 33 points.With only 4 days to go in October, Monthly range is 182 points in this highly volatile month of October.Some range expansion should happen in next 4 days.If Nifty maintains +ve bias in next 2 days, expect Nifty to breakout during last 1-2 days of this month.Barring the plunge to sub 5000 levels in Nifty on Oct5, Nifty's quarterly range also stands at 182 points till today.

Oct23 Update

Nifty moved in a narrow range with low volumes and neutral breadth. Important points for today.

1.Nifty down by 0.45% with 0.7 breadth.
2. 484th day since the highs of 6338, 210th day since the lows of 4531.

Nifty again backtracked from around 5720 levels to close below 5700 levels.In this rangebound move Nifty has not broken 5630 on lower side and finding 5730+ as resistance on higher side.Break of this range should bring some trading opportunities, though I expect Nifty to break on upside in coming days.Monthly/Weekly range is 182/63 points till today.

Oct22 Update

Nifty started the week on a positive note and closed above 5700 with moderately low volumes. Important points for today.

1. Nifty up by 0.7% with 0.9 breadth.
2. 483rd day since the highs of 6338, 209th day since the lows of 4531.

Nifty again closed above 5700 levels.Whether Nifty has regained enough momentum to take it further up will be known in next few days, if Nifty keeps moving up for next couple of days.Monthly range stands at 182 points only with 6 days left in this month.5633-5815 are the current endpoints for this month's range. Range expansion is very much likely to happen in the remaining few days of the month.Breach at either end should be the probable direction of the next move.

Oct19 Update

Nifty was sideways with moderate volumes and neutral breadth.Important points for today.

1. Nifty down by 0.75% with 0.65 breadth.
2. 482nd day since the highs of 6338, 208th day since the lows of 4531.

Nifty closed the week at about same level as last week.Range for this week was 89 points.Since last 4 weeks , Nifty is moving in about 200 point range.Medium term upmove is intact till now, since Nifty has not broken the lower levels.So if range expansion takes place on upside, it could see good move in short timeframe.Monthly range stands at 182 points.

Oct18 Update

Nifty bounced today above 5700 with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 1.0% with 1.9 breadth.
2. 481st day since the highs of 6338, 207th day since the lows of 4531.

Nifty closed above 5700 today with good breadth.If Nifty continues its upward momentum, more upsides could be seen in coming weeks.This week's range till today is 89 points, while monthly range is 182 points. Higher levels look more likely as of now.

Oct17 Update

Nifty moved in 50 point range with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.2% with 0.8 breadth.
2. 480th day since the highs of 6338, 206th day since the lows of 4531.

Nifty has taken support at sub 5650 levels multiple times now,only indicates that support is coming in at lower 5600 levels. Any close above 5700 now, should put Nifty in a short term upward momentum.Nifty after rising by 600 points has done a shallow correction of 180 points only , indicating that goop buying support is coming in. Nifty could see new highs if it sustains above recent highs of 5800 for few days.Monthly range stands at 182 points. 

Oct16 Update

Nifty could not sustain higher levels and closed below 5650 levels with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.75% with 0.6 breadth.
2. 479th day since the highs of 6338, 205th day since the lows of 4531.

Nifty attempted 5700+ levels but gave up the gains to close below 5650 levels.Nifty could go lower from here but if Nifty manages to claw back to 5700+ level on closing basis in next 2-3 days , then it is likely that Nifty may have completed its sideways move between 5600-5800 zone.Fresh longs should be initiated on Nifty showing strength moving above 5700 levels.Monthly range remains at 180 points.

Oct15 Update

Nifty was rangebound with low volumes and neutral breadth. Important points for today.

1. Nifty up by 0.2% with 1.0 breadth.
2. 478th day since the highs of 6338, 204th day since the lows of 4531.

Nifty was in 42 point range today.Nifty may keep moving in 5650-5800 range for some days.If level of 5650 is maintained and 5800 is taken around expiry, fast upside move could be expected in that case.Monthly range remains at 179 points. October till now is very low range.I expect range expansion in october around/after expiry time.

Oct12 Update

Nifty gave the gains it had yesterday amid moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 0.6% with 0.8 breadth.
2. 477th day since the highs of 6338, 203rd day since the lows of 4531.

Nifty closed the week with a loss of 1.25% confirming that Nifty is in short term correction/consolidation phase.If this corrective phase leads to Nifty doing weekly closing below 5550-5600 then , it may be bearish turnaround else if Nifty sustains 5600+ level than higher levels should be there in coming weeks. This week's range was 115 points and monthly range till today stands at 179 points.

Oct11 Update

Nifty bounced later in the day to close above 5700 levels with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 1.0% with 1.8 breadth.
2. 476th day since the highs of 6338, 202nd day since the lows of 4531.

Nifty has bounced twice from around 5650 levels, indicating that 5600+ is providing some support to Nifty.If Nifty sustains 5700+ levels till next week then new all time highs are possible before Diwali.A decisive breakout above 5800 should clear the way to 6300 levels. Weekly and monthly range stands at 115/179 points.

Oct10 Update

Nifty traded in a narrow range with -ve bias with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.90% with 0.35 breadth.
2. 475th day since the highs of 6338, 201st day since the lows of 4531.

Nifty moved in 39 point range and closed just above 5650 levels.Today was 4th day since Nifty reversed from around 5800 levels.Breadth was -ve today but the volumes were low indicating that downside in terms of price may be limited from here but Nifty may remain sideways for some more days.Monthly range today stands at 168 points and weekly range is 104 points.

Oct9 Update

Nifty traded in a 51 point range with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.5% with 1.2 breadth.
2. 474th day since the highs of 6338, 200th day since the lows of 4531.

Nifty traded within yesterday's range and managed to close above 5700 levels.Between 5600-5800, Nifty remains in sideways movement. Monthly range remains at 149 points and this week's range is 85 points till today.

Oct8 Update

Nifty came down today amid moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 1.2%  with 0.8  breadth.
2. 473rd day since the highs of 6338, 199th day since the lows of 4531.

Nifty closed below 5700 today after sustaining above 5700 all of last week.Nifty is likely pausing/consolidating the gains here and may spend more time hovering in 200-300 point range of 5600-5900.Today's range was 85 points and monthly range stands at 149 points till today.

Oct5 Update

Nifty corrected from 5800+ levels with high volumes and -ve breadth. Important points for today.

1. Nifty down by 0.7% with 0.42 breadth.
2. 472nd day since the highs of 6338, 198th days since the lows of 4531.

Nifty dad an erroneous plunge of 900 points but it closed just below 5750 levels. Given the high volumes supporting the -ve breadth, Nifty may have entered into short term correction within a medium term upmove. Nifty remains in firm upmove on weekly scale but may be consolidating the move to 5700+ now.Range for this quarter remains at 121 points (not including the erroneous signal) after first week.If Nifty keeps hovering in 5600-5900/6000 zone for next 2-3 weeks, that should be bullish sign for the coming weeks.  

Oct4 Update

Nifty crossed 5800 today amid high volumes and neutral breadth. Important points for today.

1. Nifty up by 0.6% with 1.6 breadth.
2. 471st day since the highs of 6338, 197th day since the lows of 4531.


Nifty moved up and closed above 5750 levels. Nifty is edging upwards though in a slow manner but the upmove is showing lot of promise as Nifty has not undergone greater than 1% correction in last 4-5 weeks. This kind of move should evolve into strong thrusting move towards the end.Nifty expanded the range today. Monthly/Weekly range now stands at 113 points.

Oct3 Update

Nifty inched upwards amid narrow range with higher volumes. Important points for today.

1. Nifty up by 0.25% with 1.6 breadth.
2. 470th day since the highs of 6338, 196th day since the lows of 4531.

Nifty is moving in a very narrow range since last few days.Since Nifty is in medium/short term upmove, so this narrow range is likely to resolve itself in the upward direction with a thrusting move soon.Range for this week/month remains at 49 points in 2days.

Oct1 Update

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

1. Nifty up by 0.3% with 1.9 breadth.
2. 469th day since the highs of 6338,195th day since the lows of 4531.

Nifty protected 5700 levels though the range was only 28 points.Nifty has cleared the hurdle of 5600 decisively having done weekly close above 5650 for2 weeks and in sideways consolidation only corrected by 50 points indicating support at 5600+ levels.So next significant resistance that Nifty should attempt is the all time highs of 6300+.This is a start of new quarter and Nifty's range in the 3 quarters of this year have been 1041/608/703 points.New All time highs for Nifty is very much possible in this quarter.