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.