Oct31 Update

Nifty moved past 6300 levels on expiry day with higher volumes and neutral breadth. Important points for today.

1. Nifty up by 0.8% with 1.2 breadth.
2. 455th day since the lows of 4531, 44th day since the swing lows of 5118, 21st day since the swing lows of 5700.

Nifty closed just below 6300 and is within striking distance of all time highs of 6357. Weekly /Monthly range stand at 230/609 points and yearly range is 1191 points. @6400 is the next significant resistance for Nifty to encounter.  Moves from here could become volatile as Nifty is about to test multi year highs now. Nifty has done highest monthly closing today. Momentum in Nifty is weakning so correction may also be not far off.

Oct30 Update

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

1. Nifty up by 0.5% with 1.1 breadth.
2. 454th day since the lows of 4531, 43rd day since the swing lows of 5118, 20th day since the swing lows of 5700.

Nifty closed above 6250 levels. Any strength above 6280 should take Nifty to 6400 in next coming days. Trendline joining 6111-6229 comes ~ @6400, so that is next significant resistance for Nifty to encounter if it gets past 6280 level.  Unless there is some trigger to take Nifty to higher levels, there is no strong momentum at these levels now. Todays range was 47 points and weekly/monthly range stand at 190/569 points.

Oct29 Update

Nifty bounced strongly from sub 6100 levels with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 2.0% with 1.3 breadth.
2. 453rd day since the lows of 4531, 42nd day since the swing lows of 5118, 19th day since the swing lows of 5700.

Nifty found support at 6079 and bounced to close above 6200 levels . Nifty is again bumping into trendline resistance joining 5900-5950 and currently @ around 6260 levels. Breach of this resistance decisively should result in Nifty heading towards 6400 . But if Nifty fails to go past 6250-6280 levels then drop in Nifty could be sudden. Weekly range stands at 149 points and monthly range is 552 points till today.

Oct28 Update

Nifty slid below 6100 levels today with lower volumes and -ve breadth. Important points for today.

1. Nifty down by 0.7% with 0.6 breadth.
2. 452nd day since the lows of 4531, 41st day since the swing lows of 5118, 18th day since the swing lows of 5700.

Nifty today broke the swing low and previous week's low of 6116 and closed below it. Today was the 5th consecutive down day of Nifty.Nifty has broken the trendline from 5700 as well from 5118, so deeper correction can be expected from here unless Nifty bounces back above 6200 in 1/2 day. Todays range was 74 points.

Oct25 Update

Nifty moved around 6150 in narrow range with lower volumes and -ve breadth. Important points for today.

1. Nifty down by 0.3% with 0.58 breadth.
2. 451st day since the lows of 4531, 40th day since the swing lows of 5118, 17th day of the upmove from  lows of 5700.

Nifty closed the week with a loss of 0.75%. If Nifty retains 6100 levels early next week then 6300 could come soon, else if Nifty goes below 6070 then Nifty has reversed from 6252 levels and headed down. Downside support exists at 6050-6070-> 5930->5790->5690->5550 levels. This week's range was 136 points and monthly range is 552 points.

Oct24 Update

Nifty crossed 6250 but gave up the gains to close just above 6150 with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 0.2% with 0.8 breadth.
2.   450th day since the lows of 5118, 39th day since the lows of 5118, 16th day since the swing lows of 5700.

Nifty got resisted at 6250 levels today and came down to 6140 levels. Nifty in this week has been consolidating the move of Last friday in 136 point range. 6070 is now the lower support zone and 6250 is the higher resistance. Monthly range now stands at 552 points. Last 2 days have seen 100+ point range but Nifty remains within 6100-6250.

Oct23 Update

Nifty today went below 6150 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 0.4% with 1.0 breadth.
2. 449th day since the lows of 4531, 38th day since the swing lows of 5118.

Nifty closed below 6200 levels today. Since last 3 days Nifty is hovering around 6200 levels. This looks like consolidation of big move of Last friday unless Nifty breaks and closes below Friday's low of 6070. Nifty broke the 6140-6150 support level(earlier Resistance is now Support) but bounced back soon. So If Nifty dips again below 6140, then 6050 is the next support being the trendline support (trendline from 5118). Weekly range is 104 points , While Monthly range remains same at 520 points with 6 days to go in this month.

Oct21 Update

Nifty consolidated the gains of Friday with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 0.25% with 1.8 breadth.
2. 447th day since the lows of 4531, 36th day since the swing lows of 5118.

Nifty closed above 6200 today. Nifty is Just about floating on the surface of trendline resistance @ around 6200 levels. 6230-6350 are the next resistance for Nifty. If Nifty survives @6200 levels for another 1-2 day, then new highs above 6350 are going to come soon. Whether this is multi-year breakout will be known by movement above 6300 levels. Currently Nifty has 2 significant resistance in 150 point zone. So correction if any happens now will find support at 6000-5900 levels. Only if these levels are broken can we expect deeper supports to come into play. Today's range was 66 points and Monthly range now stands at 518 points.

Oct18 Update

Nifty opened above 6070 and traded up all day with moderate volumes and neutral breadth.

1. Nifty up by 2.0% with 1.5 breadth.
2. 446th day since the lows of 4531, 35th day since the swing lows of 5118.


Nifty took support in the gap of 6033-6046 and bounced strongly and went past 6200 levels. Today's range was 131 points and Weekly/Monthly range stand at 169/501 points. Today was 12th day of upmove from 5700 levels. If 6200 is crossed decisively then Nifty has 6300-6350 as the next resistance level. On downside 5940 is the main support.

Oct17 Update

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

1. Nifty down by 0.7% with 0.9 breadth.
2. 445th day since the lows of 4531, 34th day since the swing lows of 5118.

Nifty closed below 6050 levels and filled the gap 6033-6046 it made few days back. Nifty has closed in the gap, so a bounce might happen from here. Today was 2nd consecutive down day of Nifty. if Nifty sustains above 6080 levels , then Nifty may go above 6156 else if Nifty breaches 5980 level then 5900-5950 level should be seen soon. Today's range was 78 points and Weekly range now stands at 456 points.

Oct15 Update

Nifty went past 6142 today but sold off from there to 6050 levels with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.3% with 0.5 breadth.
2. 444th day since the lows of 4531, 33rd day since the swing lows of 4531.

Nifty after going above 6150 levels closed below 6100 levels.Todays range was 100 points. Weekly/Monthly range now stand at 100/456 points. 5940 is the lower support level for Nifty while 6150 is the resistance on upside. Broadly Nifty remains in 5900-6150 range. On upside, 6150-6300 is multi year resistance and may require strong push to decisively clear those levels.

Oct14 Update

Nifty moved in very narrow range around 6100 levels with lower volumes and neutral breadth. Important points for today.

1. Nifty down by .05% with 1.05 breadth.
2. 443rd day since the lows of 4531, 32nd day since the swing lows of 4531, 16th day since the swing highs of 6142.

Nifty closed flat after moving in 42 point range. Last 3 days range is quite narrow between 40-60 points. Nifty remains in uptrend but momentum is not supporting strong upmoves here in this resistance zone. Any correction may take Nifty to 5950 levels that is the first main support. Monthly range now stands at 424 points.

Oct11 Update

Nifty opened gap up above 6100 levels and moved around it with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 1.25% with 1.15 breadth.
2. 442nd day since the lows of 4531, 31st day since the swing lows of 5118, 15th day since the swing highs of 6142.

Nifty closed just below 6100 level after opening at 6100. Today's range was very narrow with 61 points. Today's action was contained in the first 30min bar. Nifty may undergo a correction in 6100-6200 zone. Depending on Whether correction is shallow, Next upmove may come. No signals of reversal as of yet. Weekly/Monthly range now stand at 286/407 points.

Oct10 Update

Nifty consolidated yesterday's gain with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.2% with 1.4 breadth.
2. 441st day since the lows of 4531, 30th day since the swing lows of 5118, 14th day since the swing highs of 6142.

Nifty closed above 6000 levels for 2nd consecutive day. Today was narrow range day of 54 points only. Weekly/Monthly range is 208/333 points. Nifty is making a diagonal triangle on daily charts in this upmove from 5700 indicating that steep fall may happen now. But if Nifty closes above 6050 level for next 2 days then this will be negated and Nifty will head for 6200+/6300.

Oct9 Update

Nifty opened below 5900 levels but recovered to close above 6000 with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 1.35% with 1.5 breadth.
2. 440th day since the lows of 4531, 29th day since the swing lows of 5118, 13th day since the swing highs of 6142.

Nifty crossed resistance level of 5950 today and closed above 6000 levels. If Nifty sustains 5950+ for next 2 days then new high above 6300 may happen soon. If not and Nifty gives away today's gain then 5500 is the first likely support for Nifty.Todays range was 138 points and monthly range now stands at 315 points.

Oct8 Update

Nifty opened gap up but gave up the gains later to close mildly in the green with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.35% with 1.2 breadth.
2. 439th day since the lows of 4531, 28th day since the swing lows of 5118, 12th day since the swing highs of 6142.

Nifty opened up above 5950 but could not survive and closed below it. Nifty is getting resisted at 5950 again. If Nifty goes below 5825, yesterdays low again then 5700 is likely to give up and next main support will come at 5500. Since Nifty has taken resistance at 5950, 3 times now any further weakness may result in sudden slide to lower support level of 5500. Today's range was 68 points. Weekly/Monthly range now stand at 156/281 points.

Oct7 Update

Nifty was directionless today with lower volumes and neutral breadth. Important points for today.

1. Nifty flat with 1.34 breadth.
2. 438th day since the lows of 4531, 27th day since the swing lows of 5118, 11th day since the swing highs of 6142.

Nifty slipped below 5850 early in the trade but recovered later on to close above 5900 levels. Nifty is basically pausing after the bullish move of last Thursday.5780/5950 remain the pivot points for downside/upside breakout. Today's range was 87 points. Breach of any of the pivot point will lead to Nifty moving 200-300 point in that direction. Monthly range remains at 250 points.

Oct4 Update

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

1. Nifty flat with 1.0 breadth.
2. 437th day since the lows of 4531, 26th day since the swing lows of 5118, 9th day since the swing highs of 6142.

Nifty closed flat after moving in 65 point range. 5950 is the falling trendline resistance joining 6229-6093. Nifty moved past this resistance line on 19th sept but fell back very next day, so this resistance is not yet been taken out. If Nifty were to fail here then 5700-5500 are the support zones Nifty is likely to target.  Weekly/Monthly range stands at 250 points.

Oct3 Update

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

1. Nifty up by 2.2% with 1.9 breadth.
2. 719th day since the highs of 6338, 437th day since the lows of 4531, 25th day since the swing lows of 5118, 9th day since the swing highs of 6142.

Nifty closed above 5900 today. Today was 2nd consecutive up day. Nifty's correction from 6142 looks over now and Nifty is on upswing. Resistance for Nifty stand at 5950-6100-6300. Let's see how Nifty negotiates the resistance levels ahead. Range for this week stands at 217 points till today.

Oct1 Update

Nifty opened around 5700 levels but recovered to close above 5750 with lower volumes and +ve breadth. Important points for today.

1. Nifty up by 0.8% with 1.4 breadth.
2. 718th day since the highs of 6338, 436th day since the lows of 4531, 24th day since the swing lows of 5118, 8th day since the swing highs of 6142.

Nifty bounced up from 5700 levels today. Nifty has taken gap support and bounced up. Next resistance if an upmove has started come at 5950-6140-6300. Today's range was 86 points.Next 2 days of the week will clear up where Nifty wants to go in next 2-3 weeks.