Mar25 Update

Nifty again fell from 5700+ to close below 5650 levels with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.3% with 0.55 breadth.
2. 588th day since the highs of 6338, 312th day since the lows of 4531.

Nifty gave away the early morning gains of 5700+ and closed around the lows of the day. Nifty is looking tired going down but upmove is getting sold into indicating that Nifty is getting selling pressure at higher levels though selling pressure on downside is receding.This months range now stands at 347 points.

Mar22 Update

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

1. Nifty down by 0.1% with 0.43 breadth.
3. 587th day since the highs of 6338, 311th day since the lows of 4531.

Nifty closed the week with a loss of 1.2%. Nifty has done weekly close below the previous swing lows of 5663.Today was 10th day since the reversal from 5950+. This week's range was 232 points and monthly range is 340 points till today. Whether Nifty is capitulating for short term bottom or it is bracing for next impulsive downmove will be known in next few days. Next 3-4 weeks are seasonally bullish in nature.

Mar21 Update

Nifty attempted to regain 5750 but failed and closed well below 5700 with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.65% with 0.36 breadth.
2. 586th day since the highs of 6338, 310th day since the lows of 4531.

Nifty closed below the previous swing lows of 5663 today.Today was 9th day since the reversal from 5945. Nifty is either attempting a bottom around 5600-5650 or if downside momentum remains then there could be a deep dip.Weekly range stands at 203 points and Quarterly range at 464 points after today with 4 days to go in this month/quarter.

Mar20 Update

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

1. Nifty down by 0.9% with 0.21 breadth.
2. 585th day since the highs of 6338, 309th day since the lows of 4531, 13th day since the lows of 5693.

Nifty closed below 5700 today and retested the earlier swing lows. Nifty remains in downside momentum. Weekly range stands at 181 points till today. Nifty may be forming a short term base here or there could be deep dip below 5550 making a capitulation bottom.

Mar19 Update

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

1. Nifty down by 1.55% with 0.3 breadth.
2. 584th day since the highs of 6338, 308th day since the lows of 4531,12th day since the swing lows of 5693.

Nifty closed below 5750 today.Today was 7th day since the swing highs of 5971. Nifty gained downside momentum today but the support of 5650 has not been broken/tested again. Nifty should break on downside, if the momentum is maintained or if Nifty does not breach 5650 this week, then there could be rally to 6000+ for next few days.Range for this week is 126 points.

Mar18 Update

Nifty further slid down towards 5800 levels with low volumes and -ve breadth. Important points for today.

1. Nifty down by 0.6% with 0.52 breadth.
2. 583rd day since the highs of 6338, 307th day since the lows of 4531, 11th day since the swing lows of 5693.

Nifty closed in the red but just over 5800 levels.Volumes were quite low and breadth -ve but price drop was small.This may be exhaustion of downslide of last 4-5 days.If true Nifty should recover fast and go beyond 6000 levels soon.Range today was 36 points only with 6 days to go in this month.

Mar15 Update

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

1. Nifty down by 0.6% with 0.65 breadth.
2. 582nd day since the highs of 6338, 306th day since the lows of 4531, 10th day since the swing lows of 5693.

Nifty closed below 5900 levels today. Nifty above 5850 levels or so, keeps the upside open. Weekly range for this week was 190 points and quarterly range remains at 448 points till today.Nifty has 8 days to go in this month's expiry.

Mar14 Update

Nifty staged a comeback after falling to sub 5850 with moderate volumes and neutral breadth.

1. Nifty up by 0.95% with 1.0 breadth.
2. 581st day since the highs of 6338, 305th day since the lows of 4531,9th day since the swing lows of 5693.


Nifty closed above 5900 today after staging a good comeback from the lows of 5800+. Whether this is dead bounce or Nifty is heading higher may be known in next 2-3 days. If Nifty sustains above 5950 for couple of days then Nifty may scale highs above 6100 soon. This month's range stands at 308 points till today.

Mar12 Update

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

1. Nifty down by 0.5% with 0.58 breadth.
2. 580th day since the highs of 6338, 304th day since the lows of 4531, 8th day since the swing lows of 5693.

Nifty closed in the red but above 5900 levels. Unless Nifty closes below 5800 levels, bias will remain on upside for the near term.Nifty is currently up against strong resistance zone of 5950+.

Mar11 Update

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

1. Nifty flat with 1.0 breadth.
2. 579th day since the highs of 6338, 303rd day since the lows of 4531, 7th day since the swing lows of 5693.


Nifty closed flat today around the resistance level of 5950-6000 levels. Nifty's behaviour in handling this resistance will decide its future course of action.Range for this month stands at 308 points till today. Nifty is evenly biased at the moment between 5700 support and 6100 resistance zone.

Mar8 Update

Nifty extended its rally to close near 5950 levels with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 1.4% with 1.9 breadth.
2. 578th day since the highs of 6338, 302nd day since the lows of 4531,6th day since the lows of 5693.

Nifty was up for the 4th consecutive day.Nifty has crossed the resistance levels of 5850-5900 levels and done weekly closing above it.This was 62nd week of this upmove from 4531.This week's range was 289 points.This upmove looks like a strong impulsive move and may take Nifty to new highs above 6300 if 6100 is broken next week.

Mar7 Update

Nifty went past 5850 with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.8% with 1.3 breadth.
2. 577th day since the highs of 6338,301st day since the lows of 4531,33rd day since the swing highs of 6082.

Nifty closed above 5850 levels and was up for the 3rd consecutive day.Nifty has risen above 5850 faster than the fall it had from 5850-sub 5700 levels. Nifty may have started an impulsive upmove here.Or if it is a dead cat bounce, should retrace t0 5650 fairly fast by next week.If Nifty doesnot fall below 5800 and sustains around 5850-5900 levels for next few days, this is more likely an upmove with possible targets of 6100+ in coming days.This week's/Month's range is 215 points till today. 

Mar6 Update

Nifty moved sideways around 5800 with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 0.6% with 2.2 breadth.
2. 576th day since the highs of 6338, 300th day since the lows of 4531, 32nd day since the swing highs of 6082.

Nifty paused today after yesterday's big move.If Nifty doesnot go down to revisit the lows of 5650 in next few days, I expect that 6100 will be taken out soon. Else if 5650 is defended then Nifty may move in sideways manner for sometime.Further downside in the near term look less likely.Weekly range now stands at 165 points and monthly range is also 165 points.

Mar5 Update

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

1. Nifty up by 1.5% with 1.8 breadth.
2. 575th day since the highs of 6338, 299th day since the lows of 4531(62nd week ongoing),31st day since the swing highs of 6082,

Nifty bounced strongly today to close above 5750 levels. Nifty took support at  5650-5700 levels. 5850 is the next resistance levels.Nifty may pullback from there, but if Nifty hovers around that level for few days, a strong upmove may be possible.On the bear side,6000-6100 may be reversal point of this pullback. Monthly range for March now is 127 points till today.

Mar4 Update

Nifty was rangebound within 50 points with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.4% with 0.3 breadth.
2. 574th day since the highs of 6338, 298th day since the lows of 4531, 30th day since the swing highs of 6082/6111.

Nifty closed below 5700 today. Close above 5850 will be a first signal that Nifty has made a short term bottom around 5650 levels.For bullish scenario, there should be sharp upmove to new highs above 6100 in next 2 weeks.If not then Nifty may have entered a medium term correction here.Monthly range for the month of March is 76 points till today.

Mar1 Update

Nifty moved with +ve bias with -ve breadth and moderately high volumes. Important points for today.

1. Nifty up by 0.45% with 0.45 breadth.
2. 573rd day since the highs of 638, 297th day since the lows of 4531, 29th day since the swing highs of 6082/6111.

Nifty closed the week with a loss of 2.25%. This was 5th consecutive down week of Nifty.This downmove could be the end of move from 4531 OR from 4770 OR from 5032 .Nifty could very well bounce from here upto 6000 levels and still be in downturn, But 2-3 close above 6000 should signal that this 5 week downside was a correction and Nifty may touch newer highs Quarterly range stands at 440 points and weekly range was 207 points last week.Feb ended with a range of 381 points.