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.