Jan31 Update

Nifty was confined in narrow range with higher volumes and neutral breadth. Important points for today.

1. Nifty down by 0.35% with 0.82 breadth.
2. 552nd day since the highs of 6338, 276th day since the lows of 4531.

Nifty moved in 33 point range on expiry day.Sideways directionless movement continues. Weekly range stands at 86 points till today and january's range ended at 166 points. Nifty is not helping in any directional trade for now.

Jan30 Update

Nifty traded flat with moderate volumes and -ve breadth. Important points for today.

1. Nifty up by 0.1% with 0.62 breadth.
2. 551st day since the highs of 6338, 275th day since the lows of 4531.

Nifty traded in 27 point range and closed flat.Weekly range till today is 69 points.Monthly range remains at 166 points. Nifty is undergoing a phase of extreme compression , as last 2 months range has been 142,166 points only.Looking ahead , I see Nifty has built a base of 6000 for upside shoot , while on downside, Nifty may find support at 5850-5700.This is 11th week of Nifty from the swing lows of 5550 in mid November.

Jan29 Update

Nifty Sold off from 6100+ levels with higher volumes and -ve breadth. Important points for today.

1. Nifty down by 0.4% with 0.55 breadth.
2. 550th day since the highs of 6338, 274th day since the lows of 4531.

Nifty gave up all the early gains to close mildly in the red.If Nifty doesnot go much below from here in net 3 days of the week, then chances of Nifty making a swift upmove will be there.Monthly/Quarterly range stands at 166 points with only 2 days to go in this month.This is the 57th week of the upmove that begun from 4531.

Jan28 Update

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

1. Nifty flat with 1.15 breadth.
2. 549th day since the highs of 6338, 273rd day since the lows of 4531.

Nifty moved in 27 point range today. If Nifty manages to close above 6100 levels, then 6200+ levels could be seen soon in Nifty after that. Monthly range till now remains at 166 points. Last quarter range was 417 points,while half yearly range was 933 points. This low range sideways movement with upward bias may not be moving much but it is making a good base for Nifty around 6000 levels.

Jan25 Update

Nifty jumped back to close above 6050 with moderate volumes and +ve breadth. Important points for today.
1. Nifty up by 0.9% with 1.5 breadth.
2. 548th day since the highs of 6338,272nd day since the lows of 4531.

Nifty ended the week with a gain of 0.15%. This week's range was 94 points and monthly range remains at 166 points with 4 days to go. If Nifty remains in upmove then next 2 weeks could see Nifty touching new highs. But if Nifty is topping out here, then Nifty could retrace to lower support levels of 5800 or so.

Jan24 Update

Nifty slid further to lower 6000 levels with higher volumes and -ve breadth. Important points for today.

1. Nifty down by 0.6% with 0.22 breadth.
2. 547th day since the highs of 6338, 271st day since the lows of 4531.

Nifty closed near the lows of the day.Weekly range now stands at 94 points and monthly range remains at 166 points. January has proved to be a dud month unlike its usual volatile character.Nifty looks like topping out in short term, so some volatility could be expected in next 1-2 weeks.

Jan23 Update

Nifty hovered around 6050 with moderate volumes and -ve breadth. Important points for today.

1. Nifty up by 0.1% with 0.39 breadth.
2. 546th day since the highs of 6338, 270th day since the lows of 4531.

Nifty fell to 6020 before bouncing to 6050+. Nifty is trading above 6000 levels for few days now but not making any decisive move.This may be consolidation for a bigger upmove OR it may be exhaustion at 6000+ levels. Only Nifty's next move will decide the course.Weekly range is 81 points and monthly range is 166 points. This Month/Quarter has started on Low range.

Jan22 Update

Nifty touched 6100 levels but gave up the gains with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.6% with 0.39 breadth.
2. 545th day since the highs of 6338, 269th day since the lows of 4531.

Nifty closed in the red today.Today's range was 61 points and monthly range now stands at 166 points.Nifty is moving in 100 point weekly range since last 7-8 weeks. Range expansion week should clear up the medium term direction of the Nifty.I don't see Nifty continuing its snail pace upmove for few more weeks, either it should go up in a big move or it may start receeding soon.

Jan21 Update

Nifty continued its sideways slow upmove with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.3% with 0.9 breadth.
2. 544th day since the highs of 6338, 268th day since the lows of 4531.

Nifty continues with its slow motion upmove touching nearly 6100 levels today.Today's range was 29 points and monthly range now stands at 159 points. Staying above 5950, Nifty remains in uptrend and may continue like this, else if Nifty is topping out here, 5950/5850 should be breached in the first fall.

Jan18 Update

Nifty continued its comeback to close above 6050 with higher volumes and neutral breadth. Important points for today.

1. Nifty up by 0.4% with 0.67 breadth.
2. 543rd day since the highs of 6338, 267th day since the lows of 4531.

Nifty closed the week with a gain of 1.9%.Nifty looks like trying to sustain at higher levels rather than topping/exhausting at higher levels.If that is correct than solid upmove should come in at some time soon.Weekly range was 121 points this week and monthly range stands at 148 points.

Jan17 Update

Nifty rebounded again from sub 6000 levels with moderately high volumes and neutral breadth. Important points for today.

1. Nifty up by 0.6% with 0.9 breadth.
2. 542nd day since the highs of 6338, 266th day since the lows of 4531.

Nifty continues to hover around 6000+ levels since last few days.Nifty looks at comfort at 6000- levels , so chances of upside breakout are more likely to happen. Monthly range remains at 133 points.

Jan16 Update

Nifty gave up yesterday's gain with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.9% with 0.3 breadth.
2. 541st day since the highs of 6338, 265th day since the lows of 4531.

Nifty even after today's loss closed above 6000 levels, that if sustained for rest of this week is bullish since Nifty is now forming a base at 6000+ levels.So an impulse move from here could easily take Nifty to new highs in coming days/weeks.Unless Nifty breach 5800 levels on daily/weekly closing basis, Bullish possibility remains open and Nifty remains in an uptrend.Monthly range stands at 133 points till today with 11 days to go.

Jan15 Update

Nifty moved further up above 6050 with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.5% with 1.0 breadth.
2. 540th day since the highs of 6338, 264th day since the lows of 4531.

Nifty strengthened further above 6050 levels and closed above it.Nifty since making momentum impulsive move of 5815 from 5215 is in sideways upmove since last 3 months.This indicates that an impulsive move could come soon that may be capitulation and take Nifty to new highs.This week's range is 106 points till today and monthly range is 133 points.

Jan14 Update

Nifty closed above 6000_ levels with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 1.2% with 1.55 breadth.
2. 539th day since the highs of 6338, 263rd day since the lows of 4531.

Nifty again jumped above 6000 levels.Whether this jump in Nifty is breakout or its a sideways move will be known in next few days.If Nifty is doing breakout, then this week may see retest of highs of 6300+. Today's range was 74 points while monthly range remains at 107 points.

Jan11 Update

Nifty attempted 6000+ levels but failed to cross with high volumes and -ve breadth. Important points for today.

1. Nifty down by 0.3% with 0.31 breadth.
2. 538th day since the highs of 6338, 262nd day since the lows of 4531.

Nifty closed the week with a loss of 1.1%.This was 54th week of upmove from 4531. Weekly range was 102 points while monthly range remains at 107 points.Next week should through some clarity whether Nifty has topped out short/medium term or Nifty is pausing before taking a leap to new highs.

Jan10 Update

Nifty moved in about 60 point range with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by .05% with 0.5 breadth.
2. 537th day since the highs of 6338, 261st day since the lows of 4531.

Nifty failed to go past 6000 levels and settled slightly in the red. Range for this week till today is 95 points and monthly range is 107 points. Breakout/breakdown point should be nearing now.Tomorrow's weekly closing may be flat or in the red.But only follow up early next week may tell about possible next move.This is the 54th week of upmove from 4531.

Jan9 Update

Nifty again slipped below 5900 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 0.5% with 0.67 breadth.
2. 536th day since the highs of 6338, 260th day since the lows of 4531.

Nifty hovering around 6000 level continues with no headway in either direction.Nifty's range for this week is 84 points till today and monthly range is 107 points.5900/6050 remain as threshold points for breakdown/breakout.

Jan8 Update

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

1. Nifty up by 0.2% with 0.8 breadth.
2. 535th day since the highs of 6338, 259th day since the lows of 4531.

Nifty managed to close above 6000 levels today.Nifty's wayward movement continues. Breakout above 5950 has not materialized as yet. Nifty should take a decisive turn soon of few hundred points soon.Nifty may be consolidating its move above 5800 since last few weeks for further upmove OR resistance at 6000+ may take Nifty to lower support levels in coming days. January is a volatile month and move should materialize in this month.

Jan7 Update

Nifty staged a mini pullback with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 0.5% with 1.2 breadth.
2. 534th day since the highs of 6338, 258th day since the lows of 4531.

Nifty again pulled down from 6000+ levels and closed below it.Nifty may be turning around here in short/medium term towards downside.Nifty's range for this month till now is 107 points.If Nifty is not able to surpass the resistance at 6000-6050 in this week, lower levels are likely in days ahead.

Jan4 Update

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

1. Nifty up by 0.1% with 1.0 breadth.
2. 533rd day since the highs of 6338,257th day since the lows of 4531.

Nifty ended the week with a gain of 1.8% and close above 6000 levels.From previous swing highs of 5965, Nifty has barely edged up by 55 points in this breakout.If Nifty does not go up in next few days then sudden pullback is not ruled out in next few days. Range for this week/month stand at 123/85 points.

Jan3 Update

Nifty managed to close above 6000 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.25% with 1.5 breadth.
2. 532nd day since the highs of 6338, 256th day since the lows of 4531.

Nifty moved in a range of 31 points today around 6000 levels. Nifty formed a hammer pattern today with shadow, indicating that Nifty is facing resistance at higher levels.Look for signs of weakness here to indicate reversal.A strong surge of 1-2% on closing basis should nullify the bear scenario and open the gates for further highs.Range for this month is 82 points till today.

Jan2 Update

Nifty went past 6000 levels today with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 0.7% with 1.7 breadth.
2. 531st day since the highs of 6338, 255th day since the lows of 4531.

Nifty crossed the psychological level of 6000 but closed below it. Range though was narrow of only 24 points. Nifty's range in last 3 days is very narrow being only 20-30 points.Nifty's breakout has not shown any momentum above 5950. Whether this is capitulation or not will be known in next few days.

Jan1 Update

Nifty started the year on a +ve note with with lower volumes and +ve breadth. Important points for today.

1. Nifty up by 0.75% with 2.6 breadth.
2. 530th day since the highs of 6338, 254th day since the lows of 4531.

Nifty has broken on upside today.Further +ve moves should come now.Nifty may either keep on crawling up or it may try to shoot up.If Nifty survives above 6000-6050 level on weekly closing basis should new highs ie 6350+ become feasible in short term.But if Nifty fails to cross 6000+ resistance then pullback may be expected in coming days. January is a volatile month and after december's 142 point range, the chances of seeing sharp swing in January are there. Unless Nifty breach 5400 level , Uptrend will not end.

Dec31 Update

Nifty had a dull day as end of year with low volumes and +ve breadth. Important points for today.

1. Nifty flat with 1.3 breadth.
2. 529th day since the highs of 6338, 253rd day since the lows of 4531.

Nifty ended year 2012 in shortest range of last few years. This year's range was only 1377 points.Quarterly range too was 417 points only.On yearly basis Nifty has recovered 85% of down fall in Year2011.Nifty should expand the range in 2013.