Nov29 Update

Nifty broke on the upside above 5800 with high volumes and +ve breadth. Important points for today.

1. Nifty up by 1.7% with 1.5 breadth.
2. 508th day since the highs of 6338, 232nd day since the lows of 4531.

Nifty has given a decisive breakout on the upside having closed above the previous highs of 5815 .Further sharp upmoves are expected now in the coming days.I think 6300 is the next significant resistance for Nifty now.Monthly range now stands at 285 points and yearly range is 1245 points till today. Range is now very likely going to be extended on the upside by atleast 200-300 points.

Nov27 Update

Nifty bounced up with higher volumes and +ve breadth. Important points for today.

1. Nifty up by 1.6% with 2.0 breadth.
2. 507th day since the highs of 6338, 231st day since the lows of 4531.

Nifty is heading into resistance zone of 5750-5800 levels. If Nifty crosses this, then expect to see some quick upmove in next 1-2 weeks time.Chances of Nifty breaking through the resistance are good, since the correction/consolidation of last 6-7 weeks is shallow and Nifty has not corrected below 5550 levels besides repeated attempts.Monthly range remains at 229 points with 2 days to go.

Nov26 Update

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

1. Nifty up by 0.2% with 1.3 breadth.
2. 506th day since the highs of 6338, 230th day since the lows of 4531.

Nifty moved in 26 point range and closed mildly in the green.Wayward movement continues within 200-250 point range.Monthly range for this month stands at 229 points with 3 days to go and yearly range is 1227 points.Chances of upside breakout above 5800 are more.

Nov23 Update

Nifty halted its ascend amid low volumes and neutral breadth. Important points for today.

1. Nifty flat with 0.75 breadth.
2. 505th day since the highs of 6338, 229th day since the lows of 4531.

Nifty ended the week with gain of about 0.9%.Range for this month remains at 229 points and for this quarter stands at 267 points.Range expansion for this quarter is very much due and should happen any time with expiry week being among good times for this.I expect that the upmove that started from 4531 in last december may be reaching its end with one final upmove above 6000.

Nov22 Update

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

1. Nifty up by 0.2% with 1.15 breadth.
2. 504th day since the highs of 6338, 228th day since the lows of 4531.

Nifty stayed above 5600 today though volumes were low.Nifty is still moving in its sideways range of 200-250 points.Bias remains on +ve side , since Nifty has not broken on downside in its repeated attempts. Monthly and Yearly range stand at 229/1227 points .

Nov21 Update

Nifty managed to close above 5600 today though with lower volumes and neutral breadth. Important points for today.

1. Nifty up by 0.8% with 1.0 breadth.
2. 503rd day since the highs of 6338, 227th day since the lows of 4531.

Nifty closed above yesterday's high and didnot breach yesterday's low, so that is bullish if Nifty sustains it for another 2 days.Monthly range remains at 229 points and yearly range is 1227 points till today.Expect to see range expansion in 5.5 weeks left in this year.

Nov20 Update

Nifty attempted 5600+  levels but could not survive and closed below it with lower volumes and -ve breadth. Important points for today.

1. Nifty flat with 0.4 breadth.
2. 502nd day since the highs of 6338,226th day since the lows of 4531.

Nifty in last 2-3 days looks like capitulating in its sideways correction. Now if this is correction in an upside , Nifty could move up swiftly from here. But if this has started a bear wave then Nifty could keep on sliding down.The direction should make itself clear by end of this week. Monthly range stands at 229 points till today.

Nov19 Update

Nifty moved around 5550 without dipping any further with lower volumes and -ve breadth. Important points for today.

1. Nifty up by 0.1% with 0.43 breadth.
2. 501st day since the highs of 6338, 225th day since the lows of 4531.

If Nifty jumps from here to 5700 and above in next few days and closes above 5700 on weekly close then 6000+ levels could be seen in next 1-2 weeks.Monthly range stands at 228 points till now.Yearly range till now is 1227 points. There is a good possibility of a range expansion of 200-300 points happening here for yearly range. Given that current Nifty is near highs of that range , so 6000-6100 may come in next 2-3 weeks.

Nov16 Update

Nifty dropped down below 5600 thereby breaking previous low it made few days back. Important points for today.

1. Nifty down by 1.0% with 2.2 breadth.
2. 500th day since the highs of 6338, 224th day since the lows of 4531.

Nifty has again broken the range below 5600 levels.The rise from earlier low of 5583 has been completely retraced in shorter time.Lower levels should follow and Nifty may have made a medium term Top at 5815 in first week of october. This assumption  holds true if Nifty does not rebound from here in next few days. Nifty though is right at support line joining the June/July lows.This week's range stands at 158 points and Monthly range is 218 points.

Nov15 Update

Nifty slid further down today with higher volumes and -ve breadth. Important points for today.

1. Nifty down by 0.65% with 0.55 breadth.
2. 499th day since the highs of 6338, 223rd day since the lows of 4531.

Nifty was down for 5th consecutive day. Nifty has been up as well as down for 5/6 consecutive days but inside the 200 point range of 5600-5800.Though i see that upside capitulation move is pending, so breakout should occur soon, But if Nifty breaches 5500 levels then downside scenario may be appearing. Weekly/ Monthly range stand at 115/176 points with 11 days to go in this month.

Nov12 Update

Nifty traded narrowly in about 40 points with moderately high volumes and neutral breadth. Important points for today.

1. Nifty flat with 0.80 breadth.
2. 497th day since the highs of 6338, 221st day since the lows of 4531.

Nifty was down for 3rd consecutive day. Nifty remains stuck in 200 point range. Diwali is usually a turning point of the trend.Volumes were good today being highest in about a month.No clear Buy/Sell signals as the range bound move continues.

Nov9 Update

Nifty dropped down below 5700 levels with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.9% with 0.44 breadth.
2. 496th day since the highs of 6338, 220th day since the lows of 4531.

Nifty again got resisted at higher 5700 levels and dropped below 5700 levels.Nifty remains in sideways trading range with 5th week of consolidation after 5 weeks of upmove.This week's range was 100 points after 128 points in previous week.Monthly range is 176 points.Unless Nifty closes above 5800 or below 5550 , Nifty remains stuck in sideways trading range.

Nov8 Update

Nifty corrected tody to test lower 5700 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 0.4% with 0.8 breadth.
2.495th day since the highs of 6338, 219th day since the lows of 4531.

Nifty mildly corrected after 6 consecutive days of advance.Nifty it seems has formed a good base around 5600-5700 levels as launchpad for going to higher levels.Medium term upmove remains intact as no significant lower levels have been broken.Expect to see higher levels in coming days/weeks. This week's range is 98 points till today.Last week was 128 points, so if this week is less than that, then previous week's range expansion has been halted.

Nov7 Update

Nifty broke out of its 100+ point range with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.55% with 1.5 breadth.
2. 494th day since the highs of 6338, 218th day since the lows of 4531.

Nifty has now broken on the upside of the 100 point range.Today was 6th consecutive up day of Nifty. This could be a strong upmove with a modest start as consecutive days of upmove indicates that breakout has more chances of being real, so fast moves may follow from here.Monthly range is 176 points and weekly range is 98 points till today.

Nov2 Update

Nifty gapped up and crossed 5700 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.9% with 1.4 breadth.
2. 491st day since the highs of 6338, 217th day since the lows of 4531.

Nifty moved in a very narrow range of 29 points after opening gap up. Nifty has moved up on 3rd consecutive day.Nifty has undergone sideways movement in 200 points range since last few weeks.If this shallow move has ended, then Nifty should find upside momentum in coming days to propel it to all time highs.November monthly range is 110 points in 2days.

Nov1 Update

Nifty traded with +ve bias today above 5600 with moderately low volumes and +ve breadth. Important points for today.

1. Nifty up by 0.5% with 1.8 breadth.
2. 490th day since the highs of 6338, 216th day since the lows of 4531.

Nifty traded above 5600 today and closed in the green for 2nd consecutive day.If Nifty remains +ve for next 2-3 days , then very likely Nifty may have completed its sideways movement and started its ascent upwards. Today's range stands at 48 points and weekly range is 118 points till today.