Dec30 Update

Nifty attempted 6350 levels and sold off with lower volumes and neutral breadth. Important points for today.

1. Nifty down by 0.35% with 1.0 breadth.
2. 83rd day since the lows of 5118,60th day since the lows of 5700.

Nifty opened near 6344 but slipped from there to close below 6300. Nifty has encountered resistance near 6350 level again. But given that volumes were quite low so another 1-2 days of weakness is needed to confirm reversal on downside. 6250 is strong Nifty support and close below that will be bearish for Nifty. Above 6350 Nifty may go upto 6450-6500 levels. Todays range was 71 points and Monthly range stands at 286 points.

Dec27 Update

Nifty closed above 6300 with lower volumes and neutral breadth. Important points for today.


1. Nifty up by 0.6% with 1.25 breadth.
2. 82nd day since the lows of 5118, 59th day since the days of 5700.

Nifty traded in 35 point range and closed above 6300. Weekly range was only 65 points. Monthly range stands at 286 points till now. 6250 is strong support now and close above 6350 will open path for ~6500 in Nifty.

Dec26 Update

Nifty wavered aimlessly within 43 points with moderate volumes and  +ve breadth. Important points for today.

1. Nifty up by 0.15% with 2.0 breadth.
2. 81st day since the lows of 5118, 58th day since the lows of 5700.

Nifty closed flat without doing anything much.Todays range was 43 point and weekly range stands at 58 points. Weekly range indicates that either 6350 Or 6200 could happen tomorrow and is high probability of seeing either of the two levels. On upside 6450-6500 is the main resistance while below 6150 should provide first support.

Dec23 Update

Nifty hovered around 6300 levels with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 0.15% with 1.9 breadth.
2. 79th day since the lows of 5118, 56th day since the lows of 5700.

Nifty closed below 6300 today though it stayed above 6300 for most time.Todays range was 51 points. 6230-6250 is main support of Nifty an 6330-6350 is resistance. Nifty is likely to trade between 6230-6350. Nifty may attempt 6450 in this week as that is trendline resistance of Nifty. Monthly range remains at 286 points 

Dec20 Update

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

1. Nifty up by 1.8% with 2.3 breadth.
2. 78th day since the lows of 5118, 55th day since the lows of 5700.

Nifty ended the week above 6250 with a gain of 1.8% on weekly basis. So in 4 weeks Nifty has gained 280 points(4.6%)  after falling by 312 points(5%) in 3 weeks. Even though Nifty took out the previous high of 6342 on daily and intraday basis but on weekly basis , this rally is still taking more time. It is likely that this rally may test again 6400-6500 zone by next week. Weekly range for this week was 155 points and Nifty has 100+ point range in each of last 3 days, indicating increase in volatility.

Dec19 Update

Nifty opened above 6250 levels but sold off amid heavy volumes and neutral breadth. Important points for today.

1. Nifty down by 0.8% with 0.8 breadth.
2. 77th day since the lows of 5118, 54th day since the lows of 5700.

Nifty opened gap up but sold off big to close below 6200 levels erasing all the gains of yesterday. Todays range was 113 points. Weekly range now stands at 134 points While monthly range remains at 286 points. Short term Nifty is in 6130-6260 range. Breaking 6250 on closing basis will open the way for 6350-6400 levels. While breach of 6100 on closing basis will open the way for 5900-5950 levels.

Dec18 Update

Nifty  bounced up above 6200 levels with higher volumes and +ve breadth. Important points for today.

1. Nifty up by 1.25% with 2.0 breadth.
2. 76th day since the lows of 5118, 73rd day since the lows of 5700.

Nifty closed above 6200 today bouncing from trendline support joining 5700-5972. 6230-6250 is the resistance zone. If Nifty manages to close above above this zone, then 6350 may happen soon. Todays range was 107 points. Weekly/ Monthly range stands at 107/286 points.

Dec17 Update

Nifty again moved around 6150 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 0.25% with 0.8 breadth.
2. 75th day since the lows of 5118, 52nd day since the lows of 5700.

Nifty attempted to go past 6200 levels but fell below 6150 level and closed below it. Today's range was 57 points. Nifty  is close to rising trendline support at 6100+.  6100-6250 is the immediate range for Nifty. Above 6250, 6400+ is possible, below 6100, 5900- may be seen. Weekly range stands at 57 points in 2 days with Monthly range at 282 points.

Dec16 Update

Nifty moved around 6150 support level with lower volumes and -ve breadth. Important points for today.

1. Nifty down by 0.25% with 0.74 breadth.
2. 74th day since the lows of 5118, 51st day since the lows of 5700.

Nifty closed mildly in the red but above 6150 level. Todays range was 37 points and monthly range now stands at 269 points. Rising trendline support comes at 6100 levels ,so holding around these levels ,Nifty may attempt 6200-6250-6300-6400 levels.

Dec13 Update

Nifty slid further below 6200 levels with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 1.1% with 0.33 breadth.
2. 73rd day since the lows of 5118, 50th day since the lows of 5700.

Nifty closed below 6200 levels breaching the 6230-6250 zone. Nifty closed the week with a loss of 1.5% . Sustaining above 6250, Nifty may attempt higher levels 6350-6415. On Downside, Nifty has support in 6050-6150 zone. Weekly range was 254 points and monthly range stands at 266 points.

Dec12 Update

Nifty slipped further below 6250 levels amid lower volumes and -ve breadth. Important points for today.

1. Nifty down by 1.1% with 0.57 breadth.
2. 72nd day since the lows of 5118, 49th day since the lows of 5700.

Nifty ended in red for 3rd consecutive day and closed below 6250 level. Todays range was 56 points and weekly range is 185 points now. If Nifty closes below 6200 level for 2 consecutive days then Nifty has formed a Top @6415 and entered into correction mode. Sustaining 6200 level, Nifty could attempt 6400+ levels again.

Dec11 Update

Nifty dipped below 6300 amid moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.4% with 0.7 breadth.
2. 71st day since the lows of 5118, 48th day since the lows of 5700.

Nifty closed just above 6300 but in the red. Nifty has corrected about 2% from monday morning highs.Weekly/Monthly range stand at 135/266 points till today. Nifty has filled the gap of monday morning and upside may be expected from here on. I see limited upside from previous high of 6415 in short term(in Dec) by 50-100 points only. Let us see Whether Nifty is able to take 6415 in next 2 days of this week.

Dec10 Update

Nifty went down below 6350 amide higher volumes and -ve breadth. Important points for today.

1. Nifty down by 0.5% with 0.44 breadth.
2. 70th day since the lows of 5118, 47th day since the lows of 5700.

Nifty closed below 6350 today.Unless Nifty closes above 6363 tomorrow, it may have entered short term correction with possible target of 6250-6275 on downside before rising again. Nifty's significant resistance exist in the 6450-6500 zone. Today's range was 55 points and weekly/monthly range now stands at 108/266 points. Looking from Range perspective , there may be pullback from around 6500 levels that could last till mid of january.

Dec9 Update

Nifty broke the previous all time high amid heavy volumes and neutral breadth. Important points for today.

1. Nifty up by 1.7% with 1.0 breadth.
2. 69th day since the lows of 5118, 46th day since the lows of 5700.


Nifty decimated the 5 year old highs and closed above it indicating a big breakout . But the momentum above 6400 did not last and closed just above 6350 levels. Nifty will attempt to go above 6400 again and if momentum is not sustained again then Nifty may go into sideways pause inorder to consolidate the breakout above 6350. Todays range was 70 points and monthly range now stands at 266 points.

Dec6 Update

Nifty moved around 6250 with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.3% with 1.15 breadth.
2. 68th day since the lows of 5118, 45th day since the lows of 5700.


Nifty inched upwards amid narrow range of 45 points. On weekly Nifty closed up by 1.3%. This week's range was 151 points. Monthly range till now is also 151 points. Nifty is likely to attempt to go past 6350 next week. on Downside 6200-6230 will act as strong support zone.

Dec5 Update

Nifty opened gap up with higher volumes and neutral breadth. Important points for today.

1. Nifty up by 1.35% with 1.0 breadth.
2. 67th day since the lows of 5118, 44th day since the lows of 5700.

Nifty opened above 6250 and touched 6300 but could not sustain higher levels and closed below 6250 levels. Today's range was 68 points though Nifty closed with a gain of 81 points. Nifty still has a gap at 6209 yet to be filled. Weekly range till now is 151 points. If Nifty sustains around 6250 tomorrow then doors for higher levels above 6350 remain open for next week.

Dec4 Update

Nifty slipped below 6200 levels with moderate volumes and slightly -ve breadth. Important points for today.

1. Nifty down by 0.7% with 0.78 breadth.
2. 66th day since the lows of 5118, 43rd day since the lows of 5700.

Nifty closed below 6200 levels and just near support levels of 6150. If Nifty bounces up from above 6200, then 6350 could be targetted in short term. Todays range was 60 points and weekly range was 79 points till today. Any weakness below 6150 indicates weakness and revisit to lows of 5972 may be possible on below 6150.

Dec3 Update

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

1. Nifty down by 0.25% with 1.0 breadth.
2. 65th day since the lows of 5118, 42nd day since the lows of 5700.

Nifty moved around 6200 within a range of 34 points. Today was a inside day of Nifty.  Short term Nifty is in uptrend and significant resistance is at 6300 only. So Nifty likely to go to 6300+ levels before going for any deeper correction.Don't expect Nifty to test 6150 level without facing resistance at higher levels. Weekly range remains at 57 points.

Dec2 Update

Nifty moved above 6200 levels but could not move much higher amid lower volumes and +ve breadth. Important points for today.

1. Nifty up by 0.7% with 1.7 breadth.
2. 64th day since the lows of 5118, 41st day since the lows of 5700.

Nifty closed above 6200 level today and today's range was 57 points. Above 6250 , 6350 is the next resistance. Today was 6th day of the upmove from 5972. Nifty is headed higher above 6350 in next few weeks but the upmove may be rocky and not straight line, so trading opportunity may emerge. 6150 is the strong support level and 6350 is the last resistance.

Nov28 Update

Nifty bounced above 6100 levels but could not sustain and closed below it with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 0.7% with 1.5 breadth.
2. 62nd day since the lows of 5118, 39th day since the lows of 5700.

Nifty closed in the green today just below 6100 levels. Today's range was again 44 points and this week's range till now stands at 93 points. Breach of 6050 could lead to fall upto min 5950 now while closing above 6100 levels can see rally upto 6200+ levels in short term.

Nov27 Update

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

1. Nifty flat with 0.77 breadth.
2. 61st day since the lows of 5118, 38th day since the lows of 5700.

Nifty moved in 44 point range and closed flat. Lower 6000 levels is coming as support for Nifty. Any further cut below 5972(with volumes) should take Nifty to lower 5800 levels. But if Nifty manages to close above 6100 level, then bias would turn positive and upmove will be likely. Time till 2nd week of December is seasonally +ve when Nifty makes  a bottom around last week of November.Range for this week stands at 93 points till today.

Nov25 Update

Nifty bounced strongly above 6100 levels with lower volumes and +ve breadth. Important points for today.

1. Nifty up by 2.0% with 1.75 breadth.
2. 59th day since the lows of 5118, 36th day since the lows of 5700.

Nifty closed above 6100 levels today. Nifty going above previous swing high of 6212 will indicate that new highs above 6342 will come soon. Given the strong momentum , Nifty may take out 6200/6300 levels this week itself. Today's range was 88 points .

Nov22 Update

Nifty moved around 6000 levels with lower volumes and neutral breadth. Important points for today.

1. Nifty down by 0.1% with 0.83 breadth.
2. 58th day since the lows of 5118, 35th day since the lows of 5700.

Nifty closed flat and on weekly basis closed 1% down. Weekly range was 240 points.  Nifty is taking support at 5950 levels , decisive break below 5950 will take Nifty to 5800->5700 levels. Close above 6100 will open the path upto 6250 atleast.

Nov21 Update

Nifty slid below 6000 levels with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 2.0% with 0.43 breadth.
2. 57th day since the lows of 5118, 34th day since the lows of 5700.

Nifty slid for 2nd consecutive day and closed below 6000 levels retracing all of the gains in 2 days. But if Nifty does not closed below 5972 in next 2 days then this slide id just bottoming @5950 levels and Nifty may move up from here to new highs. Today's range was 12 points and weekly range is 227 points. Monthly/Quarterly range remain at 370/642 points.

Nov20 Update

Nifty slipped down today with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 1.3% with 0.9 breadth.
2. 56th day since the lows of 5118, 33rd day since the swing lows of 5700.

Nifty dropped down and closed below important support 6150 levels. This indicates Nifty to remain in short term weakness now until it crossed and closes above 6180/6200 levels. Strong downside support is there at 6000-6050 if Nifty goes there.Today's range was 98 points and weekly range is 106 points.

Nov19 Update

Nifty moved in very narrow range around 6200 with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.2% with 1.0 breadth.
2. 55th day since the lows of 5118, 32nd day since the swing lows of 5700.

Nifty closed just above 6200 levels. Nifty is consolidating the gains scored over previous 2 days.Sustaining for another 1-2 days , Nifty may move higher above 6350 in coming days. Todays range was 32 points and weekly range stands at 102 points.

Nov18 Update

Nifty powered up today with moderate volumes and +ve breadth. Important points for today.

1 . Nifty up by 2.2% with 1.7 breadth.
2. 54th day since the lows of 5118, 31st day since the swing lows of 5700.

Nifty moved past 6150 and closed just below 6200 today. Nifty has bounced strongly and is now bumping into resistance 6150-6200. Given the strong momentum, Nifty is likely to continue its upside for next few days though it may pause immediately here around 6200 levels. Todays range was 86 points. 

Nov13 Update

Nifty moved in 70 point range with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.5% with 0.5 breadth.
2. 52nd day since the lows of 5118, 29th day since the lows of 5700, 7th day since the highs of 6342.


Nifty closed below 6000 levels. Today was 7th consecutive down day of Nifty. 5950 is a good support of Nifty below which 5700-5800 will be strong support levels. Weekly range stands at 169 points and monthly range is 370 points till today. Short term trend turns up only on close above 6080 levels.

Nov12 Update

Nifty continues its slide with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 1.0% with 0.5 breadth.
2. 51st day since the swing lows of 5118, 28th day since the swing lows of 5700. 6th day since the swing highs of 6342.

Nifty closed below 6050 today and has breached the support zone and previous swing of 6050-6032. Nifty shows +ve divergence on RSI on hourly scale , so bounce may happen soon. Trade above 6100 will turn the short term trend up and above 6200, Nifty may scale new highs. Below 6000 levels 5950/5800 may be tested. Today range was 97 points. Weekly/Monthly range stands at 130/331 points.

Nov11 Update

Nifty dipped below 6100 with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 1.0% with 0.54 breadth.
2. 461st day since the lows of 4531, 50th day since the swing lows of 5118, 27th day since the swing lows of 5700.

Nifty was down for 5th consecutive day and closed below 6100 levels and below the previous swing low of 6079 that it made on RBI policy day in october. Nifty is right now at support zone of 6050 and showing +ve divergence also,so bounce from here can come and if Nifty closes above 6200 level then 6350 can also be surpassed. Today's range was 74 points and Monthly/Quarterly range is 272/642 points.

Nov8 Update

Nifty slid further towards 6100 levels with moderate volumes and -ve beadth. Important points for today.

1. Nifty down by 0.6% with 0.7 breadth.
2. 460th day since the lows of 4531, 49th day since the swing lows of  5118, 26th day since the swing lows of 5700.

Nifty was down for the 4th consecutive day. Nifty closed below 6150 today. Nifty is now in support zone after reversing from 6342 levels.Today's range was 65 points while weekly/monthly range stand at 186/222 points till today. Nifty reversed all of the previous week's gain.6050 is the level to look for and breach of it will signal that short term top at 6342 has been formed.

Nov7 Update

Nifty swung both ways with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.55% with 0.6 breadth.
2. 459th day since the lows of 4531, 48th day since the swing lows of 5118, 25th day since the swing lows of 5700.

Nifty bounced towards 6288 but squandered all the gains to close below 6200 levels. Today was the 3rd consecutive down day. Range for today was 108 points and weekly/monthly range is 124/162 points.   Nifty may have 1 more upside leg left towards 6450 levels, for that Nifty should take support around 6150 levels.

Nov6 Update

Nifty slid further towards 6200 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 0.6% with 1.1 breadth.
2. 458th day since the lows of 4531, 47th day since the swing lows of 5118, 24th day since the swing lows of 5700.

Nifty closed in the red for the second consecutive day. 6050-6150 is likely to give support and unless this breaks , expect Nifty to bounce back to 6400+ in coming days. Today's range was 61 points and monthly range is 134 points till now.

Nov5 Update

Nifty slipped below 6300 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 1.0% with 1.2 breadth.
2. 457th day since the lows of 4531, 46th day since the swing lows of 5118, 23rd day since the swing lows of 5700.

Nifty closed below 6300 levels and started a short term correction.6050-6150 should provide support incase Nifty falls further. If Nifty does not breach 6050 level then 6350 could be reattempted in coming days. But breach of 5950 levels would sigal Nifty has topped at 6350 for Intermediate term and sideways to bearish mode may continue for some time. Today range was 642 points.

Nov1 Update

Nifty moved sideways in narrow range with higher volumes and +ve breadth. Important points for today.

1. Nifty up by 0.1% with 1.8 breadth.
2. 456th day since the lows of 4531, 45th day since the swing lows of 5118, 22nd day since the swing lows of 5700.

Nifty closed above 6300 levels but moved in a range of only 46 points. Today was 4th day since of the bounce from 6079 levels. Nifty ended the week with gain of 2.7%. Nifty is facing 2 significant resistance at 6350 and 6400-6450. Whether Nifty forms a Top over here or No will become clear in coming days but correction is imminent within next 100-150 points.

Oct31 Update

Nifty moved past 6300 levels on expiry day with higher volumes and neutral breadth. Important points for today.

1. Nifty up by 0.8% with 1.2 breadth.
2. 455th day since the lows of 4531, 44th day since the swing lows of 5118, 21st day since the swing lows of 5700.

Nifty closed just below 6300 and is within striking distance of all time highs of 6357. Weekly /Monthly range stand at 230/609 points and yearly range is 1191 points. @6400 is the next significant resistance for Nifty to encounter.  Moves from here could become volatile as Nifty is about to test multi year highs now. Nifty has done highest monthly closing today. Momentum in Nifty is weakning so correction may also be not far off.

Oct30 Update

Nifty consolidated the gains amid moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.5% with 1.1 breadth.
2. 454th day since the lows of 4531, 43rd day since the swing lows of 5118, 20th day since the swing lows of 5700.

Nifty closed above 6250 levels. Any strength above 6280 should take Nifty to 6400 in next coming days. Trendline joining 6111-6229 comes ~ @6400, so that is next significant resistance for Nifty to encounter if it gets past 6280 level.  Unless there is some trigger to take Nifty to higher levels, there is no strong momentum at these levels now. Todays range was 47 points and weekly/monthly range stand at 190/569 points.

Oct29 Update

Nifty bounced strongly from sub 6100 levels with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 2.0% with 1.3 breadth.
2. 453rd day since the lows of 4531, 42nd day since the swing lows of 5118, 19th day since the swing lows of 5700.

Nifty found support at 6079 and bounced to close above 6200 levels . Nifty is again bumping into trendline resistance joining 5900-5950 and currently @ around 6260 levels. Breach of this resistance decisively should result in Nifty heading towards 6400 . But if Nifty fails to go past 6250-6280 levels then drop in Nifty could be sudden. Weekly range stands at 149 points and monthly range is 552 points till today.

Oct28 Update

Nifty slid below 6100 levels today with lower volumes and -ve breadth. Important points for today.

1. Nifty down by 0.7% with 0.6 breadth.
2. 452nd day since the lows of 4531, 41st day since the swing lows of 5118, 18th day since the swing lows of 5700.

Nifty today broke the swing low and previous week's low of 6116 and closed below it. Today was the 5th consecutive down day of Nifty.Nifty has broken the trendline from 5700 as well from 5118, so deeper correction can be expected from here unless Nifty bounces back above 6200 in 1/2 day. Todays range was 74 points.

Oct25 Update

Nifty moved around 6150 in narrow range with lower volumes and -ve breadth. Important points for today.

1. Nifty down by 0.3% with 0.58 breadth.
2. 451st day since the lows of 4531, 40th day since the swing lows of 5118, 17th day of the upmove from  lows of 5700.

Nifty closed the week with a loss of 0.75%. If Nifty retains 6100 levels early next week then 6300 could come soon, else if Nifty goes below 6070 then Nifty has reversed from 6252 levels and headed down. Downside support exists at 6050-6070-> 5930->5790->5690->5550 levels. This week's range was 136 points and monthly range is 552 points.

Oct24 Update

Nifty crossed 6250 but gave up the gains to close just above 6150 with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 0.2% with 0.8 breadth.
2.   450th day since the lows of 5118, 39th day since the lows of 5118, 16th day since the swing lows of 5700.

Nifty got resisted at 6250 levels today and came down to 6140 levels. Nifty in this week has been consolidating the move of Last friday in 136 point range. 6070 is now the lower support zone and 6250 is the higher resistance. Monthly range now stands at 552 points. Last 2 days have seen 100+ point range but Nifty remains within 6100-6250.

Oct23 Update

Nifty today went below 6150 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 0.4% with 1.0 breadth.
2. 449th day since the lows of 4531, 38th day since the swing lows of 5118.

Nifty closed below 6200 levels today. Since last 3 days Nifty is hovering around 6200 levels. This looks like consolidation of big move of Last friday unless Nifty breaks and closes below Friday's low of 6070. Nifty broke the 6140-6150 support level(earlier Resistance is now Support) but bounced back soon. So If Nifty dips again below 6140, then 6050 is the next support being the trendline support (trendline from 5118). Weekly range is 104 points , While Monthly range remains same at 520 points with 6 days to go in this month.

Oct21 Update

Nifty consolidated the gains of Friday with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 0.25% with 1.8 breadth.
2. 447th day since the lows of 4531, 36th day since the swing lows of 5118.

Nifty closed above 6200 today. Nifty is Just about floating on the surface of trendline resistance @ around 6200 levels. 6230-6350 are the next resistance for Nifty. If Nifty survives @6200 levels for another 1-2 day, then new highs above 6350 are going to come soon. Whether this is multi-year breakout will be known by movement above 6300 levels. Currently Nifty has 2 significant resistance in 150 point zone. So correction if any happens now will find support at 6000-5900 levels. Only if these levels are broken can we expect deeper supports to come into play. Today's range was 66 points and Monthly range now stands at 518 points.

Oct18 Update

Nifty opened above 6070 and traded up all day with moderate volumes and neutral breadth.

1. Nifty up by 2.0% with 1.5 breadth.
2. 446th day since the lows of 4531, 35th day since the swing lows of 5118.


Nifty took support in the gap of 6033-6046 and bounced strongly and went past 6200 levels. Today's range was 131 points and Weekly/Monthly range stand at 169/501 points. Today was 12th day of upmove from 5700 levels. If 6200 is crossed decisively then Nifty has 6300-6350 as the next resistance level. On downside 5940 is the main support.

Oct17 Update

Nifty slid further with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 0.7% with 0.9 breadth.
2. 445th day since the lows of 4531, 34th day since the swing lows of 5118.

Nifty closed below 6050 levels and filled the gap 6033-6046 it made few days back. Nifty has closed in the gap, so a bounce might happen from here. Today was 2nd consecutive down day of Nifty. if Nifty sustains above 6080 levels , then Nifty may go above 6156 else if Nifty breaches 5980 level then 5900-5950 level should be seen soon. Today's range was 78 points and Weekly range now stands at 456 points.

Oct15 Update

Nifty went past 6142 today but sold off from there to 6050 levels with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.3% with 0.5 breadth.
2. 444th day since the lows of 4531, 33rd day since the swing lows of 4531.

Nifty after going above 6150 levels closed below 6100 levels.Todays range was 100 points. Weekly/Monthly range now stand at 100/456 points. 5940 is the lower support level for Nifty while 6150 is the resistance on upside. Broadly Nifty remains in 5900-6150 range. On upside, 6150-6300 is multi year resistance and may require strong push to decisively clear those levels.

Oct14 Update

Nifty moved in very narrow range around 6100 levels with lower volumes and neutral breadth. Important points for today.

1. Nifty down by .05% with 1.05 breadth.
2. 443rd day since the lows of 4531, 32nd day since the swing lows of 4531, 16th day since the swing highs of 6142.

Nifty closed flat after moving in 42 point range. Last 3 days range is quite narrow between 40-60 points. Nifty remains in uptrend but momentum is not supporting strong upmoves here in this resistance zone. Any correction may take Nifty to 5950 levels that is the first main support. Monthly range now stands at 424 points.

Oct11 Update

Nifty opened gap up above 6100 levels and moved around it with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 1.25% with 1.15 breadth.
2. 442nd day since the lows of 4531, 31st day since the swing lows of 5118, 15th day since the swing highs of 6142.

Nifty closed just below 6100 level after opening at 6100. Today's range was very narrow with 61 points. Today's action was contained in the first 30min bar. Nifty may undergo a correction in 6100-6200 zone. Depending on Whether correction is shallow, Next upmove may come. No signals of reversal as of yet. Weekly/Monthly range now stand at 286/407 points.

Oct10 Update

Nifty consolidated yesterday's gain with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.2% with 1.4 breadth.
2. 441st day since the lows of 4531, 30th day since the swing lows of 5118, 14th day since the swing highs of 6142.

Nifty closed above 6000 levels for 2nd consecutive day. Today was narrow range day of 54 points only. Weekly/Monthly range is 208/333 points. Nifty is making a diagonal triangle on daily charts in this upmove from 5700 indicating that steep fall may happen now. But if Nifty closes above 6050 level for next 2 days then this will be negated and Nifty will head for 6200+/6300.

Oct9 Update

Nifty opened below 5900 levels but recovered to close above 6000 with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 1.35% with 1.5 breadth.
2. 440th day since the lows of 4531, 29th day since the swing lows of 5118, 13th day since the swing highs of 6142.

Nifty crossed resistance level of 5950 today and closed above 6000 levels. If Nifty sustains 5950+ for next 2 days then new high above 6300 may happen soon. If not and Nifty gives away today's gain then 5500 is the first likely support for Nifty.Todays range was 138 points and monthly range now stands at 315 points.

Oct8 Update

Nifty opened gap up but gave up the gains later to close mildly in the green with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.35% with 1.2 breadth.
2. 439th day since the lows of 4531, 28th day since the swing lows of 5118, 12th day since the swing highs of 6142.

Nifty opened up above 5950 but could not survive and closed below it. Nifty is getting resisted at 5950 again. If Nifty goes below 5825, yesterdays low again then 5700 is likely to give up and next main support will come at 5500. Since Nifty has taken resistance at 5950, 3 times now any further weakness may result in sudden slide to lower support level of 5500. Today's range was 68 points. Weekly/Monthly range now stand at 156/281 points.

Oct7 Update

Nifty was directionless today with lower volumes and neutral breadth. Important points for today.

1. Nifty flat with 1.34 breadth.
2. 438th day since the lows of 4531, 27th day since the swing lows of 5118, 11th day since the swing highs of 6142.

Nifty slipped below 5850 early in the trade but recovered later on to close above 5900 levels. Nifty is basically pausing after the bullish move of last Thursday.5780/5950 remain the pivot points for downside/upside breakout. Today's range was 87 points. Breach of any of the pivot point will lead to Nifty moving 200-300 point in that direction. Monthly range remains at 250 points.

Oct4 Update

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

1. Nifty flat with 1.0 breadth.
2. 437th day since the lows of 4531, 26th day since the swing lows of 5118, 9th day since the swing highs of 6142.

Nifty closed flat after moving in 65 point range. 5950 is the falling trendline resistance joining 6229-6093. Nifty moved past this resistance line on 19th sept but fell back very next day, so this resistance is not yet been taken out. If Nifty were to fail here then 5700-5500 are the support zones Nifty is likely to target.  Weekly/Monthly range stands at 250 points.

Oct3 Update

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

1. Nifty up by 2.2% with 1.9 breadth.
2. 719th day since the highs of 6338, 437th day since the lows of 4531, 25th day since the swing lows of 5118, 9th day since the swing highs of 6142.

Nifty closed above 5900 today. Today was 2nd consecutive up day. Nifty's correction from 6142 looks over now and Nifty is on upswing. Resistance for Nifty stand at 5950-6100-6300. Let's see how Nifty negotiates the resistance levels ahead. Range for this week stands at 217 points till today.

Oct1 Update

Nifty opened around 5700 levels but recovered to close above 5750 with lower volumes and +ve breadth. Important points for today.

1. Nifty up by 0.8% with 1.4 breadth.
2. 718th day since the highs of 6338, 436th day since the lows of 4531, 24th day since the swing lows of 5118, 8th day since the swing highs of 6142.

Nifty bounced up from 5700 levels today. Nifty has taken gap support and bounced up. Next resistance if an upmove has started come at 5950-6140-6300. Today's range was 86 points.Next 2 days of the week will clear up where Nifty wants to go in next 2-3 weeks.

Sep30 Update

Nifty  opened down and kept sliding t0 lower 5700 levels with lower volumes and -ve breadth. Important points for today.

1. Nifty down by 1.7% with 0.55 breadth.
2. 717th day since the highs of 6338, 435th day since the lows of 4531, 23rd day since the swing lows of 5118, 7th day since the swing highs of 6142.


Nifty today closed below 5738(low of Bullish Candle) in the Gap. This is a support zone and Nifty is entering in this zone with reduced momentum so likely that support will induce short term bounce. Today's range was 92 points.Quarterly range ended at 1024 and monthly range at 824 points. Yearly range till now stands at 1111 points. I expect to see some yearly range expansion in this quarter, so 6229/5118 should breach in this quarter.

Sep27 Update

Nifty slide down towards 5800 levels with lower volumes and neutral breadth. Important points for today.

1. Nifty down by 0.8% with 1.0 breadth.
2. 716th day since the highs of 6338, 434th day since the lows of 4531, 22nd day since the swing lows of 5118, 6th day since the swing high of 6142.

Nifty closed down below 5850 today reversing all of last week's gain and down 3% weekly closing basis. Lower volumes of today indicate that today's fall is not supported by volume. Nifty is nearing support of 5688-5738(gap) also, so bounce in Nifty should be expected on further dip down from here. This week's range was 178 points and monthly/quarterly range stand at 824/1024 points. Yearly range till now is 1111 points while last year's range was 1377 points. About 100-150 points more may be added to this year's range in next quarter(5118-6229).

Sep26 Update

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

1. Nifty up by 0.15% with 1.15 breadth.
2. 715th day since the highs of 6338, 433rd day since the lows of 4531, 21st day since the swing lows of 5118.

Nifty's range today was only 53 points and closed mildly in the green. Nifty is confined within 100+ point range of 5810-5940 since last 3-4 days. 5700 is the major support and 5950/6050 are the main resistance. Weekly range remains at 178 points and monthly range at 824 points till today.

Sep25 Update

Nifty moved in 100 point range with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 0.3% with0.75 breadth.
2. 714th day since the highs of 6338, 432nd day since the lows of 4531, 20th day since the swing lows of 5118.

Nifty tested lower 5800 levels but closed above 5850.Todays range was 99 points and weekly range now stands at 178 points. Nifty has not retraced the move from 5798-6142 in time ,it took to go up. If Nifty has bottomed over here then 5950/6050 are the next resistance levels for Nifty.

Sep24 Update

Nifty tested 5850 and hovered around 5900 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty flat with 0.85 breadth.
2. 713th day since the highs of 6338, 431st day since the lows of 4531, 19th day since the swing lows of 5118.

Nifty attempted bounce from 5850 but could not go beyond 5938 and closed almost flat.Todays range was 84 points and weekly range is 135 points. Nifty is sliding towards the trendline joining 5118-5318, so bounce is expected from here and divergence is also showing up on Nifty intraday charts indicating support for Nifty. It is likely that rally from 5118 is still on and last 8-9 days is just consolidation phase and new upmove may begin now with confirmation coming on close above 6100 levels.

Sep20 Update

Nifty gave up some of the gains of yesterday with high volumes and -ve breadth. Important points for today.

1. Nifty down by 1.7% with 0.5 breadth.
2. 711th day since the highs of 6338,  day since the lows of 4531,17th day since the swing lows of 5118.

Nifty exhibited high volatility today with 200 point downmove then 100 point upmove. Today's range was 198 points. Nifty dipped below the resistance zone of 5950-6000 but managed to close above it keeping the trendline breakout intact. If Nifty manages to close above 6100 in next 2 days then next resistance will be 6250-6350, else Nifty may have reversed from 6142 levels and headed down. Weekly/Monthly/Quarterly range now stand at 344/824/1024 points with 6 days to go in this month.

Sep23 Update

Nifty slipped further down below 5900 levels with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 2.0% with 0.56 breadth.
2. 712th day since the highs of 6338, 430th day since the lows of 4531, 18th day since the lows of 5118.

Nifty continued its slide for the 2nd day and closed below 5900 levels.Todays range was 118 points. Nifty is about 50 points above the trendline joining 5118-5318, that is likely to provide support to Nifty. If Nifty breached this trendline for 2-3 conecutive days then next support will be 5500. Nifty is likely to touch its trendline support in next 1-2 days. That will clear up the short term view. Nifty is attempting to cross 6100 levels for the 4th time in this year.

Sep19 Update

Nifty blasted today with very high volumes and +ve breadth. Important points for today.

1. Nifty up by 3.7% with 2.1 breadth.
2. 710th day since the highs of 6338, 428th day since the lows of 4531, 16th day since the lows of 5118.

Nifty closed above 6100 levels, breaking the previous high of 6093. Nifty has crossed both the trendline resistance at 5950 and horizontal resistance of 6100 levels and now 6300-6350 is the main resistance to encounter.Beyond that is clear sky for Nifty.Today's range was 102 points as Nifty opened gap up. Weekly/Monthly/Quarterly range now stand at 344/824/1024.

Sep18 Update

Nifty retained 5800 levels and closed in green with lower volumes and neutral breadth. Important points for today.

1. Nifty up by 0.8% with 1.05 breadth.
2. 709th day since the highs of 6338, 427th day since the lows of 4531.

Nifty closed just below 5900 and moved in 76 point range. Nifty is again heading into 5950-6000  resistance zone from where it has corrected 3 times by about 100-150 points. If Nifty gathers momentum to cross 6000 level than it can run to 6300 levels with minor resistance at 6100 levels. Upside look more probable than downside as of today. Weekly range remain at 159 points and monthly range at 639 points.

Sep17 Update

Nifty moved in a narrow range with lower volumes and mild -ve breadth. Important points for today.

1. Nifty up by 0.2% with 0.74 breadth.
2. 708th day since the highs of 6338, 426th day since the lows of 4531.

Nifty again closed at 5850 level after moving in a 150 point range. Since last 5 days nifty is moving in 150 points between 5800-5950. Last Bullish Bar is still maintained, indicating that this is likely a consolidation before next upmove rather than reversal. But Gap of 5700 should be retained for keeping the bullish hopes alive. On Upside 5957 is the level , crossing of which will indicate new impulsive move has started. Today was an inside day so Weekly range remains at 159 points.

Sep16 Update

Nifty opened gap up but slid after that with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.2% with 0.67 breadth.
2. 707th day since the highs of 6338, 425th day since the lows of 4531.

Nifty closed flat after swinging big intraday. Nifty had a range of 157 points today and broke the last week's low to go below 5800 levels.Though Nifty has been moving sideways/correcting for last 4 days but the correction remains with the bullish bar of Last Monday(5738-5913) approx. That is a bullish sign .But on Upside , Nifty faces a big resistance at 5950-6000 levels and has corrected 3 times now from 5900+. So only a momentum move is likely to push Nifty beyond this resistance point.on the downside 5700-5730 is a gap area and will act as first support of Nifty. only a close below this gap will open the gates for further lows to 5500 levels. Weekly/Monthly range stand at 157/639 points.

Sep13 Update

Nifty moved sideways with moderate volumes and +ve breadth. Important points for today.

1. Nifty flat with 1.5 breadth.
2. 706th day since the highs of 6338, 424th day since the lows of 4531,89 weeks since the lows of 4531.

Nifty moved around 5850 in a narrow range of 62 points.This week's range was 194 points.Nifty is in sideways corrective mode since last 3 days. But pricewise Nifty has sustained 5800 levels this week. 5700 on lower side and 6000 on higher side are significant levels to watch out for. Breach of either of these levels may seen sudden moves. Monthly range till today stands at 614 points.

Sep12 Update

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

1. Nifty down by 1.1% with 0.95 breadth.
2. 705th day since the highs of 6338, 423rd day since the lows of 4531.

Nifty closed at 5850 today. Todays range was 117 points.This week's range stands at 194 points till today.Nifty is now in 5800-6000 range with upward bias.5700 is first major support for Nifty on downside and 5950 is the resistance. Unless Nifty breaks support/resistance , Nifty will move within this range.

Sep11 Update

Nifty moved around 5900 today with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 0.25% with 1.8 breadth.
2. 704th day since the highs of 6338, 422nd day since the lows of 4531.

Nifty moved in 92 point range and closed above 5900 levels. Nifty is in 5900-6000 strong resistance zone and likely to move sideways/correction in coming days before next move becomes clear. Around 5700 is good support of Nifty if it undergoes deep correction, below that is 5500 levels. This week/months range now stands at 186/606 points. Shallow correction to 5750-5800 will indicate Nifty will move higher above 6000 levels.

Sep10 Update

Nifty opened gap up and touched 5900 level with high volumes and +ve breadth. Important points for today.

1. Nifty up by 3.85% with 2.4 breadth.
2. 703rd day since the highs of 6338, 421st day since the lows of 4531.

Nifty entered into the resistance zone of 5900-6000 levels gaining around 4% from previous close. Upside momentum is good in Nifty and indicates that Nifty is good for more upside from here. Today was 4th consecutive up day of Nifty. Nifty is likely to face resistance here and some pullback may happen over here in next few days. Let us see how Nifty copes up with 6000 levels to see What will be the move ahead.Todays range was 166 points and this month's range now stands at 586 points.

Sep6 Update

Nifty extended the gains with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 1.6% with 1.4 breadth.
2. 702nd days since the highs of 6338, 420th day since the lows of 4531.

Nifty closed in the green for the 3rd consecutive day.Nifty has closed just above trendline resistance joining April and June lows. So it may wobble at this level for few days before moving higher.OR if Nifty has exhausted close below 5450 is needed to confirm that Nifty is heading to new lows below 5118 . This week's range was 370 points.Quarterly/Yearly range stand at 975/1111 points.

Sep5 Update

Nifty opened gap up above 5550 and sustained that with higher volumes and +ve breadth. Important points for today.

1. Nifty up by 2.8% with 2.3 breadth.
2. 701st day since the highs of 6338, 419th day since the lows of 4531.


Nifty once again crossed 5550 level but bumped into the 5600 resistance zone. Today's range was narrow at just 73 points though Nifty jumped by 154 points. Nifty has crossed the 262 point fall in about less time indicating impulsive character of this upmove. If this is true ,Nifty should follow up tomorrow with further gains. Next significant resistance after 5600 comes at 5950 level, so next upmove could be quite swift. This week/month's range stands at 307 points till today.

Sep4 Update

Nifty reversed 50% of yesterdays loss with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 2.0% with 1.75 breadth.
2. 700th day since the highs of 6338, 418th day since the lows of 4531.

Nifty went past 5450 but closed marginally below that reversing half of yesterday's loss. Todays range was 142 points. Nifty dipped marginally below yesterdays low and powered up and sustained 5400 levels throughout the day indicating some power is there in this leg.if Nifty sustains above 5450 for couple of hours then 5550-5600 should come soon again. It will be 3rd time then for Nifty to face 5550 resistance and chances of breaking it will be higher.

Sep3 Update

Nifty squandered the gains of last 3 days in1 session with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 3.8% with 0.36 breadth.
2. 699th day since the highs of 6338, 417th day since the lows of 4531.

Nifty closed below 5350 giving up all the gains. Daily trendline gives support at around 5300 levels. So If Nifty closes deep in the red tomorrow also then sub 5000 levels could come soon, else if Nifty takes support at 5300 levels and bounces back then 5600+ levels should be seen soon.Todays range was 257 points.

Sep2 Update

Nifty went past 5550 levels with low volumes and +ve breadth. Important points for today.

1. Nifty up by 1.5% with 2.2 breadth.
2. 698th day since the highs of 6338, 416th day since the lows of 4531.

Nifty closed above the previous resistance point of 5504-5528. 5700 is the next resistance but 5950 is the main resistance for Nifty now.Today was 4th consecutive up day of Nifty. Todays range was 86 points. August had the highest monthly range of this year at 690 points.Short term Nifty is Up.

Aug29 Update

Nifty rallied further to 5400+ with high volumes and +ve breadth. Important points for today.

1. Nifty up by 2.4% with 1.6 breadth.
2. 696th day since the highs of 6338,  414th day since the lows of 4531,


Nifty closed above 5400 levels on expiry day. Nifty shaved off 500 points between July and August expiry. Nifty is right now at trendline resistance point of 5450 . Todays range was 125 points. Nifty has risen from sub 5300 levels for 3rd time now. Let's see Whether Nifty will be able to cross 5450-5500 range decisively or correct to sub 5300 levels again.

Aug28 Update

Nifty hit low 5100 levels at open but recovered to 5300+ with heavy volumes and -ve breadth. Important points for today.

1. Nifty flat with 0.48 breadth.
2. 695th day since the highs of 6338, 413th day since the lows of 4531.

Nifty dipped down to 5100 levels but recovered later in the day. Todays range was 199 points. Weekly/Monthly/Quarterly/Yearly range stand at 410/690/975/1111 points till today. Nifty has closed below 5300 level for 2 consecutive days. Nifty is showing divergence now. 5300 has been broken decisively but bounce is also around the corner soon. Lower levels may come after Nifty stages a bounce.

Aug27 Update

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

1. Nifty down by 3.5% with 0.25 breadth.
2. 694th day since the highs of 6338, 412th day since the lows of 4531.


Nifty broke the earlier closing low of 5302 and closed below 5300 levels. Today was 23rd day since the reversal from 6093 and 6th week of downturn. This week's range now stands at 254 points. Though 5300 is a trendline support but Nifty is just able to pierce it today.  If Nifty goes further down below 5250, then Nifty could keep sliding to 4900-5000 levels. Monthly/Quarterly range stand at 554/839 points.

Aug26 Update

Nifty tested  5500 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.1% with 1.35 breadth.
2. 693rd day since the highs of 6338, 411th day since the lows of 4531.

Nifty moved past 5500 level but closed below it. 5500 acted as support level many times , so this will be resistance now. Nifty has reversed from 5500 levels earlier on intraday basis. Nifty has moved up for 3 consecutive days and rally seems to be waning today. Crossing 5500 will need momentum move from Nifty. Today's range was 74 points. If Nifty sustains 5500 levels in next 2-3 days then i can gather momentum to move higher.

Ag23 Update

Nifty climbed up towards 5500 levels with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 1.15% with 2.0 breadth.
2. 692nd day since the highs of 6338,410th day since the lows of 4531.

Nifty closed higher for the 2nd day. Nifty closed near the highs of the week. Short term bottom may be in around 5300 levels. Nifty's weekly range was 250 points even though it witnessed single day range of 236 points. This is unusual in the sense that Nifty witnessed extreme volatility by having 100+ range on all 5 days yet its weekly range was 250 points only. This is divergence between daily and weekly ranges. Probability of prices going higher from here have increased.

Aug22 Update

Nifty tested 5250 levels and bounced back to 5400+ with higher volumes and neutral breadth. Important points for today.

1. Nifty up by 2.0% with 1.15 breadth.
2. 691st day since the highs of 6338, 409th day since the lows of 4531.

Nifty reversed yesterday's losses and closed above 5400 levels. Nifty has taken support at 5250-5300 trendline. More upside should be possible in next few days. Only a momentum breach below 5300 should take Nifty to sub 5000 levels Else 5250 support could hold on for few weeks. Nifty remains in 1000+ point rising channel since 4531(Dec2011). Weekly/Monthly/Quarterly/Yearly range now stand at 250/554/839/975 points. 

Aug21 Update

Nifty swung wildly with high volumes and -ve breadth. Important points for today.

1. Nifty down by 1.9% with 0.5 breadth.
2. 690th day since the highs of 6338, 408th day since the lows of 4531.

Nifty broke below 5300 towards the end. Today's fall confirms that medium term Nifty is in Bear Mode since Jan/May 2013. First leg of this fall is from Jan-April(6111-5477) , then sideways movement for 3 months between 5500-6200 , and now Nifty has broken below 5500. Trendline at 5300 is also breached today. But this trendline connects medium term lows of 4531-4770, so pause/bounce should happen for few days/weeks in next 1-3 days as some support should come in at this point.Nifty expanded its range today. Weekly/Monthly/Quarterly/Yearly range now stand at 236/540/825/961 points.

Aug20 Update

Nifty dipped to around 5300 levels but recovered to close above 5400 with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 0.25% with 1.0 breadth.
2. 689th day since the highs of 6338, 407th day since the lows of 4531.

Nifty recovered from the early morning lows of 5300 with neutral breadth. 5300 is the trendline support of Nifty. Nifty has recovered from 5360/5300 in last 2 days and closed above 5400 . This only implies that Nifty is finding some support at lower levels around 5300. This could be a medium term support or short term support will be known in coming days.But bounce looks probable from here. Todays range was 111 points. Monthly/Quarterly/Yearly range now stands at 502/787/923 points.

Aug19 Update

Nifty went below 5400 today amid moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 1.7% with 0.43 breadth.
2. 688th day since the highs of 6338, 406th day since the lows o 4531.

Nifty broke below 5477 levels today. Nifty broke the lows after 4 months. Downside momentum remains in Nifty though divergence is there on momentum indicators but price action is not showing signs of exasperation till now.Todays range was 139 points. Quarterly range now stands at 733 points and Yearly range is 869 points. Bias remains -ve .

Aug16 Update

Nifty gave up the gains of last 4 days with high volumes and -ve breadth. Important points for today.

1. Nifty down by 4.1% with  0.23 breadth.
2. 687th day since the highs of 6338, 405th day since the lows of 4531.

Nifty dipped big breaking 5500 levels.Today's drop was 220 points. Nifty's range for this week was 258 points. On weekly basis,Nifty was down by 1.0% . Nifty has again come back to support levels of 5480 levels. Nifty is testing the 5500 support level for the 4th time in last 7 months. Given Friday's momentum, Nifty can breach 5400-5450 levels next week and head towards 5000-5200 levels. But if 5400 levels are sustained then Nifty  can bounce back sharply.Yearly range is 752 points till today.So range expansion outside of 5477-6229 is coming soon.

Aug14 Update

Nifty pushed up towards 5750 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.8% with 1.2 breadth.
2. 686th day since the highs of 6338, 404th day since the lows of 4531.

Nifty closed in the green for the 4th consecutive day.Nifty's  ascend faces resistance from trendline joining 2009 lows and Dec2011 lows at ~ 5800+ levels. Unless Nifty pushes through this resistance with bang, some pause can be expected in its ascend in next 1-2 days as it moves up. Weekly range is 197 points till today while Monthly and Quarterly range remain same @ 322 points.

Aug13 Update

Nifty continues its bounce with big upmove amid moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 1.55% with 2.0 breadth.
2. 685th day since the highs of 6338, 403rd day since the lows of 4531.

Nifty was up for the 3rd consecutive day.This bounce still has more steam and could hit 5850-5950 zone before it pauses.Weekly range is 147 in 2 days. Monthly range is 322 and Quarterly range is 607 points. Whether this is relief bounce OR impulsive upmove will be known only when Nifty hits resistance zone of ~5850-5950 level(assuming it reaches there given the current momentum).

Aug12 Update

Nifty bounced towards 5650 levels with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 0.8% with 2.25 breadth.
2. 684th day since the highs of 6338, 402nd day since the lows of 4531.

Nifty moved up for the 2nd consecutive day.Nifty hit into the resistance zone of 5650 today. Some Pullback is expected now. If Nifty doesnot breach 5450  zone and crosses 5700 levels , then upper end of this range is 6100 currently where Nifty can move in next few weeks. Today's range was 87 points, Monthly range stands at 322 points currently.

Aug8 Update

Nifty moved up above 5550 with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 0.85% with 2.15 breadth.
2. 683rd day since the highs of 6338, 401st day since the lows of 4531.

Nifty closed in the green today above 5550. Weekly closing was down by 2.0%. Today's breadth was +ve but not matched by Price action. This indicates that further downslide in the next week may be coming soon.5600-5650 are the possible 1st reversal points. Trendline support comes in at ~5300+ levels but gap at 5450+  is also support level that is holding as of now.This week's range was 235 points and monthly range is now 322 points.

Aug7 Update

Nifty was sideways after yesterday's big slide with higher volumes and +ve breadth. Important points for today.

1. Nifty down by 0.4% with 1.5 breadth.
2. 682nd day since the highs of 6338,400th day since the lows of 4531.

Nifty paused today after yesterday's slide. Though breadth was +ve still Nifty closed in the Red. Today was 11th day since reversal from 6093. Nifty is testing the support zone of 5450 now. Unless Nifty crashes down , downside from here in next few days should limit itself to 5400-5450. Weekly range is 235 points and Quarterly range is 607 points now.

Aug6 Update

Nifty brokedown below 5600 with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 2.55% with 0.26 breadth.
2. 681st day since the highs of 6338, 399th day since the lows of 4531.

Nifty had a big fall today below 5600 levels. Previous lows of 5566 were broken today and Nifty closed below that. Weekly range for this week is 287 points and monthly/Quarterly range is 287/572 points. August has started on high volatility. Today was 10th day of downturn from 6093. 5400-5450 will be the next support zone for Nifty now. Nifty is getting oversold but momentum on downside looks strong. If Nifty breaks 5500 zone decisively , then current range of 600(6100-5500) gives a target of ~4900 in next few weeks for Nifty.

Aug5 Update

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

1. Nifty up by 0.15% with 0.9 breadth.
2. 680th day since the highs of 6338, 398th day since the lows of 4531.

Nifty closed flat after moving around 5700 levels. This week could be a deciding week and if Nifty does not break 5600 levels then there is good chance of Nifty having made a bottom around 5650 and it could move higher in coming weeks.Monthly range for August is 237 points till today while Quarterly range is 444 points.

Jul31 Update

Nifty broke below 5700 levels with high volumes and -ve breadth. Important points for today.

1. Nifty down by 0.25% with 0.5 breadth.
2. 677th day since the highs of 6338, 395th day since the lows of 4531.

Nifty after breaking 5700 decisively closed above it.Today was 6th consecutive down day of Nifty. Nifty's rebound later in the day indicates that Nifty has started a bounce from 5675. 5800-5850 is the minimum Nifty should try to regain. Further attempt at 5700- looks likely in coming days. If Nifty survives 5600 levels, then that would have bullish implications going ahead. Monthly range ended at 418 points.

Jul30 Update

Nifty went further down below 5750 with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 1.35% with 0.3 breadth.

2. 676th day since the highs of 6338,394th day since the lows of 4531.

Nifty closed in the red for the 5th consecutive day. Nifty has entered into a downtrend now. 5700-5750 is the gap region during the rally from 5566 ,so it is likely to provide support to Nifty for some bounce. Nifty's downside momentum looks like it has more way to go, so shorting on any bounce can be initiated. Monthly range now stands at 346 points.

Jul29 Update

Nifty slid below 5850 below amid lower volumes and -ve breadth. Important points for today.

1. Nifty down by 1.0% with 0.42 breadth.
2.  675th day since the highs of 6338, 393rd day since the lows of 4531.

Nifty closed in the red for the 4th consecutive day.Nifty has broken the support zone of 5850-5900 levels now. Unless Nifty takes support over here and makes a bounce, Nifty has entered into short term bear phase. Let's see how next 2 days shape out.Monthly range is 333 points till today. Range expansion on Yearly/Half Yearly time should happen soon , it being 752/333 till now.

Jul26 Update

Nifty weakened further with moderate volumes and -ve breadth. Important points for today.

1. Nifty for 0.4% with 0.25 breadth.

2. 674th day since the highs of 6338, 392nd day since the lows of 4531.82 weeks since the lows of 4531.

Nifty had weekly close below 5900 levels ie on weekly basis by 2.4%. Weekly range for this week was 224 points.Nifty has broken the support of 5900 levels and closed below it. If no bounce is seen in next 2 days then Nifty may head to 5600-5700 next week.On the other side , if Nifty starts moving up from here then sharp upmove may be possible in next 2 days.

Jul25 Update

Nifty went further down below 5900 level with higher volumes and -ve breadth. Important points for today.

1. Nifty down by 1.4% with 0.48 breadth.
2. 673rd day since the highs of 6338, 391st day since the lows of 4531.

Nifty closed below the lows of previous week.This indicates that Nifty has likely hit a top at 6093 3 days back.This throws open new bearish scenarios for Nifty going ahead.The possibility that Nifty's rally from Dec2011 has completed in Jan2013 at 6111 has emerged. Move after 5477 could be an abc correction of downside impulse from 6111-5477. Next 1-2 seeks will make it clear regarding this possibilty. Bullish possibilities open up if Nifty manages to close above 6100 levels. Weekly range for this week stands at 197 points till today.

Jul24 Update

Nifty tanked today below 6000 levels amid moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 1.5% with 0.3 breadth.
2. 672nd day since the highs of 6338, 390th day since the lows of 4531.

Nifty closed below 6000 levels today. Today's fall could be a reversal to downside or it may just be part of sideways movement of Nifty between 5900-6100.Breach of 5900/6100 on daily closing basis will decide the further trend. Weekly range stands at 131 points till today while monthly range remains at 333 points.

Jul23 Update

Nifty bounced towards 6100 levels with lower volumes and neutral breadth. Important points for today.

1. Nifty up by 0.8% with 1.0 breadth.
2. 671st day since the highs of 6338, 389th day since the lows of 4531.

Nifty had a mini breakout above 6060 levels amid lower volumes. Range was only 32 points today and upside was led by Bank Nifty. Nifty may either pause again at 6100-6150 OR it may keep drifting high towards 6200+ levels. Weekly/Monthly range stand at 89/333 points. This is the 5th week of upmove from 5566 levels.

Jul22 Update

Nifty moved sideways today with low volumes and neutral breadth. Important points for today.

1. Nifty flat with 0.8 breadth.
2. 670h day since the highs of 6338, 388th day since the lows of 4531.

Nifty closed flat and could not regain the forward momentum of late last week.Nifty surviving above 6000 levels keep it in an upward bias.Staying above 6000, upside doors remain open, but if goes below then bearish possibilities will be looked upon.If Nifty breaksout on upside , current high of 6229 should be broken and 6400-6500 can be seen.

Jul18 Update

Nifty bounced above 6000 levels with moderate volumes and neutral breadth. Important points for today.

1.Nifty up by 1.1% with 1.2 breadth.
2. 669th day since the highs of 6338, 387th day since the lows of 4531.

Nifty closed above 6000 levels today.Nifty crossed the earlier highs of 6038. Range for this week now stands at 141 points. Nifty may head higher to 6150 level in next 1-3 days now.Lot depends on Bank Nifty and if Bank Nifty has bottomed out then Nifty can continue today's late momentum for another few days.

Jul17 Update

Nifty slipped to sub 5950 levels but closed above it with higher volumes and -ve breadth. Important points for today.

1. Nifty up by 0.3% with 0.63 breadth.
2. 668th day since the highs of 6338, 386th day since the lows of 4531.

Nifty managed to close in the green today. Nifty remains in dicey state regarding its current move. Though bias is +ve but any breach of lower levels may turn the outlook to -ve. If Nifty manages to cross 6050 then expected to go to new highs in next 1 month. Range for this week stands at 128 points till today and monthly range is 268 points.

Jul15 Update

Nifty closed in green with lower volumes and +ve breadth. Important points for today.

1. Nifty up by 0.3% with 1.5 breadth.
2. 666th day since the highs of 6338, 384th day since the lows of 4531.

Nifty closed above 6000 for 2nd consecutive day. Volumes were low but breadth was +ve . This indicates less conviction in market about the upmove. This is +ve for further upside in Nifty. Nifty looks like it has more steam in the immediate short term. 5950(closing) is the trailing SL for the longs. Monthly range now stands at 278 points.

Jul11 Update

Nifty powered up above 5900 with low volumes and +ve breadth. Important points for today.

1. Nifty up 2.0% with 1.8 breadth.
2. 664th day since the highs of 6338, 382nd day since the lows of 4531.

Nifty closed above 5900 levels. Weekly range now stands at 173 points.Nifty has broken its sideways range today on upside.If Nifty sustains 5900+ levels for next few days, it may head further high.

Jul10 Update

Nifty again got resisted near 5900 levels with lower volumes and neutral breadth. Important points for today.

1. Nifty down by 0.8% with 0.8 breadth.
2. 663rd day since the highs of 6338, 381st day since the lows of 4531.

Nifty closed below 5850 levels. Weekly range for this week is 104 points till today. Nifty is hovering around 5800 levels. Nifty looks to be not going low despite -ve breadth. So chances of Nifty moving up are possible from here.

Jul9 Update

Nifty regained the lost ground amid lower volumes and +ve breadth. Important points for today.

1. Nifty up by 0.8% with 1.7 breadth.
2. 662nd day since the highs of 6338,380th day since the lows of 4531.

Nifty closed above 5850 today.Range for today was only 30 points. Nifty remains in sideways move in narrow range of 5750-5900 points.Weekly range is 42 points in 2 days.

Jul8 Update

Nifty tested 5800 levels with lower volumes and -ve breadth. Important points for today.

1. Nifty down by 0.95% with 0.66 breadth.
2. 661st day since the highs of 6338,379th day since the lows of 4531.

Nifty moved in 58 point range. Nifty is trading sideways with +ve bias as of now after 2 weeks of +ve closing. This week should clear the clouds about Nifty's medium term move, if Nifty closes in +ve , new Highs may come soon, but if Nifty retraces below 5800 levels on weekly basis, further slide in Nifty may be possible. This month's range till now is 144 points.

Jul5 Update

Nifty moved around 5850 with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.5%.
2. 660th day since the highs of 6338, 378th day since the lows of 4531.

Nifty closed the week with a gain of 0.4%. This was second consecutive up week of Nifty. If Nifty survives next week on a +ve note, then there is a good chance of Nifty heading to 6300+ over next few weeks. 5900-5950 remain resistance point for Nifty while 5750 will be support point on downside, breach of which may take Nifty to 5500 levels. Bias remains +ve at the this point.With July Nifty has started a New Quarter/half year. This week's range was 144 points.

Jul4 Update

Nifty bounced back above 5800 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 1.1% with 1.2 breadth.
2. 659th day since the highs of 6338, 377th day since the lows of 4531.

Nifty regained some of the lost ground of previous two days. Range for this week is 144 points till today. If Nifty has bottomed out at sub 5600 levels , higher levels should be coming ahead Or Nifty may take a dip to 5500/5500- levels to bottom out in next few days. I see one of these two moves coming in next few weeks.

Jul3 Update

Nifty slid down below 5800 levels with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 1.5% with 0.32 breadth.
2. 656th day since the highs of 6338,378th day since the lows of 4531.

Nifty closed below 5800 levels today.Slide was sharp but the range for today was only 55 points.This week's Nifty range is 143 points till today.Nifty is likely to trade around 5800 levels till this week.

Jul1 Update

Nifty moved further up towards 5900+ levels with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 1% with 3.2 breadth.
2. 654th day since the highs of 6338, 376th day since the lows of 4531.

Nifty inched closer to 5900 levels. Today's range was 82 points. Nifty has bounced strongly from 5566 levels and momentum seems intact as of now.Nifty may either be in sideways consolidation range that started from 6111(late jan'13) OR this may be an impulsive move.

Jun28 Update

Nifty gathered strength to go above 5800 with high volumes and +ve breadth. Important points for today.

1. Nifty up by 2.9% with 2.7 breadth.
2. 653rd day since the highs of 6338, 375th day since the lows of 4531.

Nifty closed strongly for the 2nd consecutive day.5850-5950/6000 is the resistance zone. Nifty closed the week with gain of 3% and Quarterly close with gain of 2.9%. This week's range was 286 points and Quarterly range was 752 points. Nifty should breach this Quarter's low/high in next Quarter (5477/6229).

Jun27 Update

Nifty bounced strongly towards 5700 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 1.7% with 1.15 breadth.
2. 652nd day since the highs of 6338, 374th day since the lows of 4531.

Nifty closed well above 5650 levels.How far this rally stretch will indicate whether Nifty has put in bottom around 5550 or not.Nifty's Weekly range is 133 points till today while monthly range is 445 and quarterly range is 752 points.

Jun26 Update

Nifty moved sideways around 5600 with lower volumes and -ve breadth. Important points for today.

1. Nifty down by 0.4% with 0.54 breadth.
2. 651st day since the highs of 6338, 373rd day since the lows of 4531.

Nifty closed below 5600 amid low volumes but -ve breadth. Nifty seems set for bounce for few days which if sustains longer may indicate that Nifty has again formed a bottom around 5550 levels. Monthly range till today is 445 points and Quarterly range is 752 points.

Jun25 Update

Nifty attempted to bounce above 5650 with moderately high volumes and neutral breadth. Important points for today.

1. Nifty up by 0.35% with 0.67 breadth
2. 650th day since the highs of 6338, 372nd day since the lows of 4531.

Nifty gave up the gains of morning but managed to close in the green.Nifty is showing weakness in its slide, so sideways to bounce may be expected in next few days.Or if Nifty has made a durable bottom, 5850-5900 could be breached soon.

Jun24 update

Nifty slid below 5600 today with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 1.4% with 0.21 breadth.
2. 649th day since the highs of 6338, 371st day since the low of 4531.

Nifty closed below 5600 levels today. Weakness in Nifty continues though it looks sluggish while going down as today was 26th day since the reversal from 6229. Nifty is in a weak state , so 2 outcomes are likely from this point either a sharp breakdown OR continous slow capitulation slide.Monthly range for this month stands at 445 points.

Jun20 Update

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

1. Nifty down by 3.0% with 0.21 breadth.
2. 647th day since the highs of 6338, 370th day since the lows of 4531.

Nifty broke the earlier lows of 5683 today and closed below it.After today's move Nifty should be headed to 5450 levels.depending on How Nifty behaves at 5450, if sustained then downmove should be over but if broken , 5200 is the likely target. Monthly range now stands at 366 points and weekly range is 218 points till today.

Jun19 Update

Nifty moved around 5800 levels with low volumes and neutral breadth. Important points for today.

1. Nifty up by 0.15% with 1.15 breadth.
2. 646th day since the highs of 6338, 369th day since the lows of 4531.

Nifty closed mildly in the green today. this week is turning to be of low range being only 93 points till today. Nifty has failed to cross 5850 till today and Weekly trend remains down.

Jun18 Update

Nifty reacted downside with low volumes and neutral breadth. Important points for today.

1. Nifty down by 0.6% with 1.0 breadth.
2. 645th day since the highs of 6338, 368th day since the lows of 4531.

Nifty resisted from 5850+ levels and closed in the red today. Nifty is likely to negotiate 5850-5900 levels this week. How it behaves shapes up the character of this upmove as bounce or reversal.This week's range stands at 93 points in 2 days.

Jun17 Update

Nw.ifty ended above 5850 with low volumes and neutral breadth. Important points for today.

1. Nifty up by 0.7% with 0.9 breadth.
2. 644th day since the highs of 6338, 367th day since the lows of 4531.

Nifty ended at 5850 levels though volumes were quite low. Nifty has entered into resistance zone. This bounce could be a reversal or just a relief rally. That should be visible in another 2-3 days.Last quarter closing of Nifty was at 5682.

Jun14 Update

Nifty bounced strongly with lower volumes and +ve breadth. Important points for today.

1. Nifty up by 1.90 with 2.2 breadth.
2. 643rd day since the highs of 6338, 366th day since the lows of 4531.

Nifty closed above 5800 today. Nifty indeed found support sub 5700 levels.Short term trend has turned up with the bounce. 5850-6000 remains a resistance zone. Nifty closed the week down for the 4th consecutive week after 5 weeks of rally.Medium term trend is unclear as both bearish/bullish scenarios appear valid to me.Next few days should clear the sky about whether Nifty may be heading to new highs above 6300 OR it may remain rangebound in .broad range with downward bias

Jun13 Update

Nifty closed down below 5700 with lower volumes and -ve breadth. Important points for today.

1. Nifty down by 1.1% with 0.3 breadth.
2. 642nd day since the highs of 6338, 365th day since the lows of 4531.

Nifty closed below 5700 today though volumes were low. Nifty has shown divergence today in its fall. A bounce for couple of days should confirm that the short term bottom is formed.Nifty expanded its weekly/monthly range at 248/328 points.

Jun12 Update

Nifty slipped further below 5750 with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.5% with 0.55 breadth.
2. 641st day since the highs of 6338,364th day since the lows of 4531.

Nifty dipped further towards 5750 today. Nifty remains weak , though downside momentum in short term appears to be tapering for now. Weekly range is 193 points till today.

Jun11 Update

Nifty broke down today with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 1.55% with 0.27 breadth.
2. 640th day since the highs of 6338, 363rd day since the lows of 4531.

Nifty closed below 5800 levels today. Nifty has started a new downside leg today. Next support comes at 5600-5700 levels. Weekly range stands at 151 points and monthly range is 231 points till today.

Jun10 Update

Nifty moved around 5900 with low volumes and -ve breadth. Important points for today.

1. Nifty flat with 0.45 breadth.
2. 639th day since the highs of 6338, 362nd day since the lows of 4531.

Nifty closed flat with -ve breadth and low volumes. Despite breadth being -ve Nifty didn't give up any points. This is indicating of selling exhaustion in the near term, so short term bounce becomes due for now.

Jun7 Update

Nifty closed below 5900 levels with lower volumes and neutral breadth. Important points for today.

1. Nifty down by 0.6% with 0.7 breadth.
2. 638th day since the highs of 6338, 361st day since the lows of 4531.

Nifty closed the week below 5900 levels. This was 3rd consecutive down week of Nifty. This week's range was 155 points while monthly range is also 155 points.

Jun6 Update

Nifty bounced from 5850+ with lower volumes and neutral breadth. Important points for today.

1. Nifty flat with 0.9 breadth.
2. 637th day since the highs of 6338, 360th day since the lows of 4531.

Nifty is stuck at same point since last 3 days.This is the 3rd week of reversal from 6229 after 5 weeks of upmove.short term trend remains sideways with -ve bias till Nifty breaches 5850/5950 levels. weekly range is 142 points after todays move.

Jun5 Update

Nifty moved in 52 point range with low volumes and closed flat. Important points for today.

1. Nifty flat with 1.0 breadth.
2. 636th day since the highs of 6338, 359th day since the lows of 4531.

Nifty was trendless today and closed flat.Breach of 5950 has not seen Nifty gaining any further momentum. sideways with upward bias seems likely for next few days now. 6100 is the resistance and 5650-5700 should be support. since Nifty has only marginally broken the support of 5950 so if no further damage done in price by Nifty , then short term Nifty may look up. Weekly range is 128 points till today.

Jun4 update

Nifty drifted down with lower volumes and neutral breadth. Important points for today.

1. Nifty down by 0.3% with 1.0 breadth.
2. 635th day since the highs of 6338, 358th day since the lows of 4531.

Nifty went further down towards 5900 levels. Nifty is drifting down and is trading just below support levels of 5950. Next support is around 5600-5700 levels. Range for this week is 101 points in 2 days.

May29 Update

Nifty moved around 6100 levels with lower volumes and -ve breadth. Important points for today.

1. Nifty down by 0.1% with 0.6 breadth.
2. 631st day since the highs of 6338, 354th day since the lows of 4531.

Nifty closed marginally in the red just above 6100 levels. Short term trend is sideways consolidation in a range of 5950-6150/6200 levels. Medium term trend remains +ve unless Nifty breaks 5950 level(1st indication). Weekly range remains at 152 points till today.

May27 Update

Nifty bounced strongly with low volumes and +ve breadth. Important points for today.

1. Nifty up by 1.65% with 1.7 breadth.
2. 630th day since the highs of 6338, 353rd day since the lows of 4531.

Nifty bounced strongly from the around 5950 levels.if this is impulsive move , then it should take out the previous highs of 6229 in next few days. But if Nifty after today's move hovers around 6100 level and starts to recede, then it may be headed for decent fall ahead.

May24 Update

Nifty paused today with moderately low volumes and neutral breadth. Important points for today.

1. Nifty up by 0.25% with 0.9 breadth.
2. 629th day since the highs of 6338, 352nd day since the lows of 4531.

Nifty ended the week with a loss of 3.3%. This could be a reversal in Nifty medium term OR Nifty has halted after 5 weeks of strong bull run for sometime. Weekly range was 293 points while Monthly/Quarterly range remain at 319/752 points.

May23 Update

Nifty sold off with higher volumes and -ve breadth. Important points for today.

1. Nifty down by 2.1% with 0.2 breadth.
2. 628th day since the highs of 6338, 351st day since the lows of 4531.

Nifty went down below 6000 levels and closed below it. Nifty is now testing the strong resistance level of 6000 before it broke that. Medium term trend remains up while short term is down. Nifty may now move between 5900-6100 zone for next few days. Signals of next move will become clear in next few days. Weekly range of this week is 274 points though monthly/quarterly range remains the same at 319/752 points. 

May22 Update

Nifty went further down with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.3% with 0.46 breadth.
2. 627th day since the highs of 6338, 350th day since the lows of 4531.

Nifty closed below 6100 levels today and was down for 3rd consecutive day. Weekly range is 155 points while monthly/Quarterly range are 319/752 points. Nifty has corrected with lower volumes so trend still remains up.

May21 Update

Nifty came down further towards 6100 levels amid lower volumes and -ve breadth. Important points for today.

1. Nifty down by 0.7% with 0.53 breadth.
2. 626th day since the highs of 6338, 349th day since the lows of 4531.

Nifty was weak today and closed just above 6100 levels today.Today was 2nd consecutive down day. Nifty has started correcting from 6200+ levels. But at higher levels Nifty has not shown signs of exhaustion as yet so this shoull likely be a correction before another upmove. Weekly range is 127 points in 2 days while monthly/Quarterly range remain at 319/752 points.

May20 Update

Nifty resisted at 6200+ levels with moderately low volumes and neutral breadth. Important points for today.

1. Nifty down by 0.5% with 0.7 breadth.
2. 625th day since the highs of 6338, 348th day since the lows of 4531.

Nifty closed in the red today. Volumes were low today with mildly bearish breadth. Monthly/Quarterly range after today's move stands at 319/752 points. Nifty remains in strong upside momentum after 5 weeks of strong gains.

May17 Update

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

1. Nifty up by 0.3% with 0.84 breadth.
2. 624th day since the highs of 6338, 347th day since the lows of 4531.

Nifty edged up to just below 6200 levels. Nifty is poised upwards and has momentum in its favour. After breaking above 6100, Nifty looks to be undergoing a running connection. This appears to be a bullish symptom. Nifty was up by 1.3% for the week. This was 5th consecutive upweek of Nifty. Nifty is now within 2.5% of the old highs. Weekly/Monthly/Quarterly range is now 229/289/722 points.

May16 Update

Nifty hovered around 6150 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.35% with 1.0 breadth.
2.623rd day since the highs of 6338, 346th day since the lows of 4531.

Nifty closed above 6150 today. Nifty is on its week for a +ve weekly closing 5th week in a row.Weekly/monthly/Quarterly range stands at 217/277/710 points. Nifty remains in good momentum and a sharp surge from here to new highs cannot be ruled out here.

May15 Update

Nifty powered its way up with moderately high volumes and +ve breadth. Important points for today.

1. Nifty up by 2.5% with 2.0 breadth.
2. 622nd day since the highs of 6338, 345th day since the lows of 4531.

Nifty crossed the 6100 resistance in style with big momentum closing just below 6150 levels. New highs above 6300 look likely in next few days. Nifty is trading with +ve momentum currently so bias remains up till any signs of weakness appear. Weekly,monthly quarterly range are 187/247/680 points. Range expansion has happened on upside and further extension looks likely here.

May13 Update

Nifty sold off from 6100+ levels with lower volumes and +ve breadth. Important points for today.

1. Nifty down by 2.2% with 1.5 breadth.
2. 620th day since the highs of 6338, 343rd day since the lows of 4531.

Nifty resisted from old highs of 6100+ and closed below 6000 levels. Selloff was swift. It was more of index selloff and midcap/smallcap were relatively better. Also volumes were on lower side. All this indicates that this might be a correction of the 4 week surge. If true then Nifty should start going up again from around here. But if Nifty continues to go down to lower levels for next few days of this week also, then bigger bearish implications will open up in Nifty. Today's range was 132 points. Quarterly and yearly range remain at 637 points.Monthly range is 204 points till today.

May10 Update

Nifty traded with +ve bias lower volumes and neutral breadth. Important points for today.

1. Nifty  up by 0.7% with 1.1 breadth.
2.618th day since the highs of 6338, 341st day since the lows of 4531.

Nifty went past 6100 today and closed just below it. Nifty is bumping into resistance zone now so a correction could happen any time now. Nifty has retraced the 11 week fall in just 4 weeks. This indicates that upside momentum in Nifty is very strong. With saturdays trading day, Nifty's monthly range now stands at 204 points and weekly range at 186 points. Yearly range is 637 points now. January highs of 6111 has been taken out by Nifty.

May9 Update

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

1. nifty down by 0.3% with 0.71 breadth.
2. 617th day since the highs of 6338, 340th day since the lows of 4531.

Nifty did nothing much today and closed mildly in the red.No signs of exhaustion in Nifty as yet. Weekly/Monthly/Quarterly range stands at 156/174/634 points as of today. Whether Nifty is pausing here or topping out should be known in next few days of movement.

May8 Update

Nifty gained further with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.4% with 0.9 breadth.
2. 616th day since the highs of 6338, 339th day since the lows of 4531.

Nifty closed above 6050 today. Nifty has  broken the resistance path off 6000-6100 levels but in the process seems to have lost its vigour for now.So shallow to sharp correction may happen now for rally to extend further.Monthly range now stands at 173 points and weekly range is 155 points. Quarterly range is 606 points as of today. Let's us whether Nifty corrects from around 6100 level or it may go further up towards 6200-6300 before correcting.

May7 Update

Nifty managed to cross 6000 level today with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 1.2% with 1.8 breadth.
2. 615th day since the highs of 6338, 338th day since the lows of 4531.

Nifty closed above 6000 levels today. Another 2-3 days of 6000+ close should give a bright indication of Nifty moving to new highs above 6300 levels.But if nifty does a correction over to here to sub 6000 levels then bear case will remain open.Monthly range now stands at 140 points and quarterly range is 573 points.

May6 Update

Nifty traded in narrow range with low volumes .Important points for today.

1. Nifty up by 0.5% with 1.45 breadth.
2. 614th day since the highs of 6338, 337th day since the lows of 4531.

Nifty traded in a 48 point range. Nifty showed some signs of exhaustion in todays move. If Nifty trades flat this week, there is good chance of Nifty retracing to below 5900 in days ahead. Only a close above 6000 and sustaining above it will indicate strength in Nifty for going further high.This month's range remains at 109 points till today.

May2 Update

Nifty surged past 6000 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 1.15% with 1.4 breadth.
2. 612th day since the highs of 6338, 335th day since the lows of 4531, 14th day since the lows of 5477.

Nifty closed just a tad below 6000 levels. Nifty is bumping into resistance zone of 5950-6100 levels. If Nifty gathers momentum here new highs above 6300 are very much possible but if Nifty falters here, then slide down may come. on the first trading day of May Nifty had a range of 108 points. This quarters range is 542 points till today. May is usually a high volatility month. so Nifty's range within 5477-6111 may break in this month on one side.

Apr30 Update

Nifty opened above 5950 with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.4% with 0.9 breadth.
2. 611th day since the highs of 6338, 334th day since the lows of 4531.

Nifty traded with +ve bias today and ended the month with a range of 485 points and gain of 4.5%.Nifty attempted 5950 levels but closed below it.Nifty has +ve momentum currently but would require strong momentum to cross 6000-6100 zone. Contrarily if Nifty is topping out here, there could be swift reversal also. Quarterly range is 485 points.

Apr29 Update

Nifty hovered around 5900 levels with lower volumes and neutral breadth. Important points for today.

1. Nifty up by 0.6% with 1.3 breadth.
2. 610th day since the highs of 6338, 333rd day since the lows of 4531.

Nifty moved in 50 point range and closed above 5900 levels. Nifty is currently trading around weekly/monthly high 5ema.So probability of a breakout is more. Any breakout from here has good chance of taking Nifty to new highs if it is coupled with strong momentum.Monthly range remains at 447 points with 1 day to go. May is a month of high volatilty and Mar/Apr have 350/400 +  point range so volatility is increasing since last couple of months. 

Apr26 Update

Nifty moved in 47 point range with -ve bias. Important points for today.

1. Nifty down by 0.8% with 0.63 breadth.
2. 609th day since the highs of 6338, 332nd day since the lows of 4531.

Nifty paused in its upmove today.Weekly closing was up 1.55%.Nifty ended this week with a range of 135 points. Next few days should indicate whether Nifty is going back to the lows of 5500- or just pausing in its upmove. If Nifty sustains 5800 level next week, there is a good chance of Nifty make a strong upmove in weeks ahead. Quarterly range is 447 points till today.