Dec28 Update

Nifty bounced again to close above 5900 levels with lower volumes and neutral breadth. Important points for today.

1. Nifty up by 0.7% with 1.4 breadth.
2. 528th day since the highs of 6338, 252nd day since the lows of 4531.

Nifty remains confined in very narrow range of about 150 points since last 5 weeks. Breakout/breakdown is imminent in coming days.This week's range was 86 points.Quarterly/Yearly range remains at 417/1377 points with 1 day to go while monthly range is at 142 points till today.

Dec27 Update

Nifty drifted lower again from 5930 levels with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.5% with 0.6 breadth.
2. 527th day since the highs of 6338, 251st day since the lows of 4531.

Nifty drifted lower again.Range for this month till today is only 142 points with only 2 days to go.Sub 200 point monthly range is not recorded by Nifty since last few years.If Nifty expands the range downward in 2 days, then Nifty is headed down but if Nifty stays within this range then uncertainty will continue into next week.

Dec26 Update

Nifty moved up above 5900 with low volumes and neutral breadth. Important points for today.

1. Nifty up by 0.7% with 1.4 breadth.
2. 526th day since the highs of 6338, 250th day since the lows of 4531.


Nifty took another upturn closing above 5900 levels.If Nifty is headed up in an impulsive move, then it should move up above 5950 closing basis in next 2 days of this week.But if Nifty falters again below 5900/5850 level on weekly closing basis then deeper downsides may happen in January. Monthly/Quarterly ranges have not changed in this week so far.

Dec24 Update

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

1. Nifty up by 0.15% with 1.0 breadth.
2. 525th day since the highs of 6338.249th day since the lows of 4531.

Nifty moved in 28 point range today.With only 4 days to go, Nifty may only expand its monthly range while Quarterly/Yearly range may end at 417/1377 points.This is contraction quarter as well year.Nifty has likely completed its short term upmove but whether medium term upmove form 5032 OR from 4531 has been completed will only be known in next few weeks.

Dec20 Update

Nifty moved around 5900 levels with moderate volumes and neutral breadth without any direction. Important points for today.

1. Nifty down by 0.25% with 0.67 breadth.
2. 523rd day since the highs of 6338, 247th day since the lows of 4531.

Nifty closed mildly in the red.Nifty remains indecisive and in range between 5820-5965.Breach of extremes should give some indication of further movement.Nifty's Monthly range is 142 points with 6 days to go.Monthly range should see some expansion in remaining 6 days. Yearly range is likely to remain 1378 points as of today, turning to be narrowest range in last few years.

Dec19 Update

Nifty closed above 5900 levels amid narrow range and higher volume. Important points for today.

1. Nifty up by 0.6% with 1.3 breadth.
2. 522nd day since the highs of 6338, 246th day since the lows of 4531.

Nifty moved in a very narrow range of 29 points.Nifty has moved to previous swing highs of 5930 now.It is likely to push further up but if the momentum remains same, them upsides should be marginal only.No change in Monthly/Quarterly/Yearly range today with 7 days to go.

Dec18 Update

Nifty after a brief dip rallied to 5900 levels with higher volumes and neutral breadth. Important points for today.

1. Nifty up by 0.7% with 1.4 breadth.
2. 521st day since the highs of 6338, 245th day since the lows of 4531.

Nifty regained some strength with a close around 5900.Today's range was 82 points indicating Nifty may be entering a period of expanding Range.Monthly range is 142 points and Quarterly range remains at 417 points.If Nifty goes past 6000 levels, then strength above 6000 will decide how far Nifty may survive above that level.There is likelihood that Nifty's 6000+ move may be capitulation of upmove from 5548 OR from 4531.

Dec17 Update

Nifty had another dull day with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 0.4% with 1.15 breadth.
2. 520th day since the highs of 6338, 244th day since the lows of 4531.

Nifty spent another day in narrow range of 36 points.Another flare up in Nifty could open the gates for further upsides above 6000 Or it could be a culminating move, depending on how Nifty manages to close this week.Quarterly/yearly range remains the same at 417/1378 points.

Dec14 Update

Nifty moved in a 47 point range in another dull day with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.5% with 0.9 breadth.
2. 519th day since the highs of 6338, 243rd day since the lows of 4531.

Nifty closed the week  0.5% down.Range for this week was 126 points after 111 point range of previous week.Next week Nifty is likely to attempt higher levels again and if Nifty fails to close above 5950 on weekly closing then chances of Nifty's reversal will increase.But if Nifty closes flat to -ve on weekly closing , then there is a good chance that December end to January should see  a big slide in Nifty.Range of Nifty remains 417/1378 on quarterly/Yearly basis.

Dec13 Update

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

1. Nifty down by 0.65% with 0.23 breadth.
2. 518th day since the highs of 6338, 242nd day since the lows of 4531.

Nifty Slid further today to close just above 5850.Staying above 5800 level, Nifty could again attempt 5950+ level. Nifty's reaction at 5950 will decide the further bullish/bearish scenario going ahead.Quarterly/Yearly range remains at 417/1378 points.

Dec12 Update

Nifty had inside day today with higher volumes and neutral breadth. Important points for today.

1. Nifty down by 0.2% with 0.8 breadth.
2. 517th day since the highs of 6338, 241st day since the lows of 4531.

Nifty again closed below 5900 levels though it was marginally down on closing basis. Only if Nifty attempts 5950 again and fails and closes below 5815 levels will confirm the reversal in Nifty. Initial signs of exhaustion are there but daily closing around 5800 is needed to confirm the downtrend.With only 12 days to go in this month , Nifty's yearly range stands at 1378 points till today.

Dec11 Update

Nifty gave up the early gains to end below 5900 levels with high volumes and -ve breadth. Important points for today.

1. Nifty down by 0.2% with 0.5 breadth.
2. 516th day since the highs of 6338, 240th day since the lows of 4531.

Nifty sold off from 5950+ levels and ended below 5900 levels.Unless Nifty tears apart 6000=+ levels with big thrust , there is good chance of Nifty having topped out at 5950+ levels and completed its medium term move from 4531 levels.First confirmation of medium term Top will be breach of 5838 levels on daily/weekly closing basis. Monthly/Yearly range stands at 127/1378 points.

Dec10 Update

Nifty moved in a tight range of 33 points with moderate volumes and neutral breadth. Important points for today.

1. Nifty flat with 1.0 breadth.
2. 515th day since the highs of 6338, 239th day since the lows of 4531.

Nifty moved around 5900 in a listless manner.Today was 12th day since the swing lows of 5548 and 7th day since the breakout above 5800 levels.Nifty's lack of momentum above 5800 signals that further upside should be limited.No range expansion today.

Dec7 Update

Nifty failed to cross 5950 levels and closed just above 5900 with higher volumes and neutral breadth. Important points for today.

1. Nifty down by 0.4% with 1.4 breadth.
2. 514th day since the highs of 6338, 238th day since the lows of 4531.

Nifty moved in 111 point range this week after big breakout of last week.Nifty after staging a 260 point range last week has compressed a lot this week. This puts question on the breakout above 5815 being fake.If that is the case Nifty may attempt 5950-6000 levels again and retreat sharply down from there in coming weeks.Monthly/Yearly range stands at 111/1361 points.

Dec6 Update

Nifty after completing a short term correction below 5850 powered up to close above 5900 levels with higher volumes and neutral breadth. Important points for today.

1. Nifty up by 0.5% with 1.3 breadth.
2. 513th day since the highs of 6338, 237th day since the lows of 4531.

Nifty closed above 5900 levels.Today's end was sensational though price upmove on closing basis is modest.Today was 5th day after Nifty broke out above previous highs of 5815. Nifty's move since has been modest in price movement. Today was 11th day of upmove from 5548.Monthly/Quarterly range stands at 104/396 points. If Nifty does not gather price momentum in next week, then this is a sign of weakness and good chance of Nifty reversing from here and making a medium term Top.

Dec5 Update

Nifty consolidated its breakout above 5800 levels with higher volumes and neutral breadth. Important points for today.

1. Nifty up by 0.2% with 1.4 breadth.
2. 512th day since the highs of 6338, 236th day since the lows of 4531.

Nifty after breaking out above 5800 levels has not shown bif price upmoves, though volumes are good in pause mode. If Nifty keeps on moving up in gliding fashion, then there is good chance of this being the capitulating move of the upmove that started started from 4531. Weekly/Monthly range stands at 63 points in 3days. Yearly/Quarterly range is 1329/369 points. 

Dec3 Update

Nifty paused and consolidated its breakout above 5800 levels with moderately high volumes and +ve breadth. Important points for today.

1. Nifty down by 0.15% with 2.5 breadth.
2. 510th day since the highs of 6338, 234th day since the lows of 4531.

Nifty moved in 45 point range and remained above 5850 levels.Today was 8th day from the swing lows of 5548.How Nifty makes the next upmove will give indication about the sustainability of this upmove.From the medium term lows of 4770 in June, Nifty has made two impulsive moves of 5 weeks of 570/600 points. The current move is 351/2weeks as of today.Another few 100 points could very well be insight. YearlyQuarterly range stands at 1311/351 points with 19 days to go.

Nov30 Update

Nifty moved up on higher volumes with mildly bullish breadth. Important points for today.

1. Nifty up by 0.9% with 1.6 breadth.
2. 510th day since the highs of 6338, 232nd day since the lows of 4531.

Nifty has closed the weekly with a gain of 4.5%. This upside breakout is with increased volumes , so it has some strength in it.Monthly range for November stands at 327 points which is same as quarterly range also while yearly range is 1297 points. The current move should extend to 6000-6100 levels before any pause in Nifty is there.Nifty may or may not cross all time highs. I expect that by around middle of December, Nifty may nearly exhaust itself up.