Sep30 Update

Nifty  opened down and kept sliding t0 lower 5700 levels with lower volumes and -ve breadth. Important points for today.

1. Nifty down by 1.7% with 0.55 breadth.
2. 717th day since the highs of 6338, 435th day since the lows of 4531, 23rd day since the swing lows of 5118, 7th day since the swing highs of 6142.


Nifty today closed below 5738(low of Bullish Candle) in the Gap. This is a support zone and Nifty is entering in this zone with reduced momentum so likely that support will induce short term bounce. Today's range was 92 points.Quarterly range ended at 1024 and monthly range at 824 points. Yearly range till now stands at 1111 points. I expect to see some yearly range expansion in this quarter, so 6229/5118 should breach in this quarter.

Sep27 Update

Nifty slide down towards 5800 levels with lower volumes and neutral breadth. Important points for today.

1. Nifty down by 0.8% with 1.0 breadth.
2. 716th day since the highs of 6338, 434th day since the lows of 4531, 22nd day since the swing lows of 5118, 6th day since the swing high of 6142.

Nifty closed down below 5850 today reversing all of last week's gain and down 3% weekly closing basis. Lower volumes of today indicate that today's fall is not supported by volume. Nifty is nearing support of 5688-5738(gap) also, so bounce in Nifty should be expected on further dip down from here. This week's range was 178 points and monthly/quarterly range stand at 824/1024 points. Yearly range till now is 1111 points while last year's range was 1377 points. About 100-150 points more may be added to this year's range in next quarter(5118-6229).

Sep26 Update

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

1. Nifty up by 0.15% with 1.15 breadth.
2. 715th day since the highs of 6338, 433rd day since the lows of 4531, 21st day since the swing lows of 5118.

Nifty's range today was only 53 points and closed mildly in the green. Nifty is confined within 100+ point range of 5810-5940 since last 3-4 days. 5700 is the major support and 5950/6050 are the main resistance. Weekly range remains at 178 points and monthly range at 824 points till today.

Sep25 Update

Nifty moved in 100 point range with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 0.3% with0.75 breadth.
2. 714th day since the highs of 6338, 432nd day since the lows of 4531, 20th day since the swing lows of 5118.

Nifty tested lower 5800 levels but closed above 5850.Todays range was 99 points and weekly range now stands at 178 points. Nifty has not retraced the move from 5798-6142 in time ,it took to go up. If Nifty has bottomed over here then 5950/6050 are the next resistance levels for Nifty.

Sep24 Update

Nifty tested 5850 and hovered around 5900 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty flat with 0.85 breadth.
2. 713th day since the highs of 6338, 431st day since the lows of 4531, 19th day since the swing lows of 5118.

Nifty attempted bounce from 5850 but could not go beyond 5938 and closed almost flat.Todays range was 84 points and weekly range is 135 points. Nifty is sliding towards the trendline joining 5118-5318, so bounce is expected from here and divergence is also showing up on Nifty intraday charts indicating support for Nifty. It is likely that rally from 5118 is still on and last 8-9 days is just consolidation phase and new upmove may begin now with confirmation coming on close above 6100 levels.

Sep20 Update

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

1. Nifty down by 1.7% with 0.5 breadth.
2. 711th day since the highs of 6338,  day since the lows of 4531,17th day since the swing lows of 5118.

Nifty exhibited high volatility today with 200 point downmove then 100 point upmove. Today's range was 198 points. Nifty dipped below the resistance zone of 5950-6000 but managed to close above it keeping the trendline breakout intact. If Nifty manages to close above 6100 in next 2 days then next resistance will be 6250-6350, else Nifty may have reversed from 6142 levels and headed down. Weekly/Monthly/Quarterly range now stand at 344/824/1024 points with 6 days to go in this month.

Sep23 Update

Nifty slipped further down below 5900 levels with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 2.0% with 0.56 breadth.
2. 712th day since the highs of 6338, 430th day since the lows of 4531, 18th day since the lows of 5118.

Nifty continued its slide for the 2nd day and closed below 5900 levels.Todays range was 118 points. Nifty is about 50 points above the trendline joining 5118-5318, that is likely to provide support to Nifty. If Nifty breached this trendline for 2-3 conecutive days then next support will be 5500. Nifty is likely to touch its trendline support in next 1-2 days. That will clear up the short term view. Nifty is attempting to cross 6100 levels for the 4th time in this year.

Sep19 Update

Nifty blasted today with very high volumes and +ve breadth. Important points for today.

1. Nifty up by 3.7% with 2.1 breadth.
2. 710th day since the highs of 6338, 428th day since the lows of 4531, 16th day since the lows of 5118.

Nifty closed above 6100 levels, breaking the previous high of 6093. Nifty has crossed both the trendline resistance at 5950 and horizontal resistance of 6100 levels and now 6300-6350 is the main resistance to encounter.Beyond that is clear sky for Nifty.Today's range was 102 points as Nifty opened gap up. Weekly/Monthly/Quarterly range now stand at 344/824/1024.

Sep18 Update

Nifty retained 5800 levels and closed in green with lower volumes and neutral breadth. Important points for today.

1. Nifty up by 0.8% with 1.05 breadth.
2. 709th day since the highs of 6338, 427th day since the lows of 4531.

Nifty closed just below 5900 and moved in 76 point range. Nifty is again heading into 5950-6000  resistance zone from where it has corrected 3 times by about 100-150 points. If Nifty gathers momentum to cross 6000 level than it can run to 6300 levels with minor resistance at 6100 levels. Upside look more probable than downside as of today. Weekly range remain at 159 points and monthly range at 639 points.

Sep17 Update

Nifty moved in a narrow range with lower volumes and mild -ve breadth. Important points for today.

1. Nifty up by 0.2% with 0.74 breadth.
2. 708th day since the highs of 6338, 426th day since the lows of 4531.

Nifty again closed at 5850 level after moving in a 150 point range. Since last 5 days nifty is moving in 150 points between 5800-5950. Last Bullish Bar is still maintained, indicating that this is likely a consolidation before next upmove rather than reversal. But Gap of 5700 should be retained for keeping the bullish hopes alive. On Upside 5957 is the level , crossing of which will indicate new impulsive move has started. Today was an inside day so Weekly range remains at 159 points.

Sep16 Update

Nifty opened gap up but slid after that with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.2% with 0.67 breadth.
2. 707th day since the highs of 6338, 425th day since the lows of 4531.

Nifty closed flat after swinging big intraday. Nifty had a range of 157 points today and broke the last week's low to go below 5800 levels.Though Nifty has been moving sideways/correcting for last 4 days but the correction remains with the bullish bar of Last Monday(5738-5913) approx. That is a bullish sign .But on Upside , Nifty faces a big resistance at 5950-6000 levels and has corrected 3 times now from 5900+. So only a momentum move is likely to push Nifty beyond this resistance point.on the downside 5700-5730 is a gap area and will act as first support of Nifty. only a close below this gap will open the gates for further lows to 5500 levels. Weekly/Monthly range stand at 157/639 points.

Sep13 Update

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

1. Nifty flat with 1.5 breadth.
2. 706th day since the highs of 6338, 424th day since the lows of 4531,89 weeks since the lows of 4531.

Nifty moved around 5850 in a narrow range of 62 points.This week's range was 194 points.Nifty is in sideways corrective mode since last 3 days. But pricewise Nifty has sustained 5800 levels this week. 5700 on lower side and 6000 on higher side are significant levels to watch out for. Breach of either of these levels may seen sudden moves. Monthly range till today stands at 614 points.

Sep12 Update

Nifty corrected today with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 1.1% with 0.95 breadth.
2. 705th day since the highs of 6338, 423rd day since the lows of 4531.

Nifty closed at 5850 today. Todays range was 117 points.This week's range stands at 194 points till today.Nifty is now in 5800-6000 range with upward bias.5700 is first major support for Nifty on downside and 5950 is the resistance. Unless Nifty breaks support/resistance , Nifty will move within this range.

Sep11 Update

Nifty moved around 5900 today with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 0.25% with 1.8 breadth.
2. 704th day since the highs of 6338, 422nd day since the lows of 4531.

Nifty moved in 92 point range and closed above 5900 levels. Nifty is in 5900-6000 strong resistance zone and likely to move sideways/correction in coming days before next move becomes clear. Around 5700 is good support of Nifty if it undergoes deep correction, below that is 5500 levels. This week/months range now stands at 186/606 points. Shallow correction to 5750-5800 will indicate Nifty will move higher above 6000 levels.

Sep10 Update

Nifty opened gap up and touched 5900 level with high volumes and +ve breadth. Important points for today.

1. Nifty up by 3.85% with 2.4 breadth.
2. 703rd day since the highs of 6338, 421st day since the lows of 4531.

Nifty entered into the resistance zone of 5900-6000 levels gaining around 4% from previous close. Upside momentum is good in Nifty and indicates that Nifty is good for more upside from here. Today was 4th consecutive up day of Nifty. Nifty is likely to face resistance here and some pullback may happen over here in next few days. Let us see how Nifty copes up with 6000 levels to see What will be the move ahead.Todays range was 166 points and this month's range now stands at 586 points.

Sep6 Update

Nifty extended the gains with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 1.6% with 1.4 breadth.
2. 702nd days since the highs of 6338, 420th day since the lows of 4531.

Nifty closed in the green for the 3rd consecutive day.Nifty has closed just above trendline resistance joining April and June lows. So it may wobble at this level for few days before moving higher.OR if Nifty has exhausted close below 5450 is needed to confirm that Nifty is heading to new lows below 5118 . This week's range was 370 points.Quarterly/Yearly range stand at 975/1111 points.

Sep5 Update

Nifty opened gap up above 5550 and sustained that with higher volumes and +ve breadth. Important points for today.

1. Nifty up by 2.8% with 2.3 breadth.
2. 701st day since the highs of 6338, 419th day since the lows of 4531.


Nifty once again crossed 5550 level but bumped into the 5600 resistance zone. Today's range was narrow at just 73 points though Nifty jumped by 154 points. Nifty has crossed the 262 point fall in about less time indicating impulsive character of this upmove. If this is true ,Nifty should follow up tomorrow with further gains. Next significant resistance after 5600 comes at 5950 level, so next upmove could be quite swift. This week/month's range stands at 307 points till today.

Sep4 Update

Nifty reversed 50% of yesterdays loss with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 2.0% with 1.75 breadth.
2. 700th day since the highs of 6338, 418th day since the lows of 4531.

Nifty went past 5450 but closed marginally below that reversing half of yesterday's loss. Todays range was 142 points. Nifty dipped marginally below yesterdays low and powered up and sustained 5400 levels throughout the day indicating some power is there in this leg.if Nifty sustains above 5450 for couple of hours then 5550-5600 should come soon again. It will be 3rd time then for Nifty to face 5550 resistance and chances of breaking it will be higher.

Sep3 Update

Nifty squandered the gains of last 3 days in1 session with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 3.8% with 0.36 breadth.
2. 699th day since the highs of 6338, 417th day since the lows of 4531.

Nifty closed below 5350 giving up all the gains. Daily trendline gives support at around 5300 levels. So If Nifty closes deep in the red tomorrow also then sub 5000 levels could come soon, else if Nifty takes support at 5300 levels and bounces back then 5600+ levels should be seen soon.Todays range was 257 points.

Sep2 Update

Nifty went past 5550 levels with low volumes and +ve breadth. Important points for today.

1. Nifty up by 1.5% with 2.2 breadth.
2. 698th day since the highs of 6338, 416th day since the lows of 4531.

Nifty closed above the previous resistance point of 5504-5528. 5700 is the next resistance but 5950 is the main resistance for Nifty now.Today was 4th consecutive up day of Nifty. Todays range was 86 points. August had the highest monthly range of this year at 690 points.Short term Nifty is Up.