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.