Nov28 Update

Nifty bounced above 6100 levels but could not sustain and closed below it with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 0.7% with 1.5 breadth.
2. 62nd day since the lows of 5118, 39th day since the lows of 5700.

Nifty closed in the green today just below 6100 levels. Today's range was again 44 points and this week's range till now stands at 93 points. Breach of 6050 could lead to fall upto min 5950 now while closing above 6100 levels can see rally upto 6200+ levels in short term.

Nov27 Update

Nifty was flat with moderately low volumes and neutral breadth. Important points for today.

1. Nifty flat with 0.77 breadth.
2. 61st day since the lows of 5118, 38th day since the lows of 5700.

Nifty moved in 44 point range and closed flat. Lower 6000 levels is coming as support for Nifty. Any further cut below 5972(with volumes) should take Nifty to lower 5800 levels. But if Nifty manages to close above 6100 level, then bias would turn positive and upmove will be likely. Time till 2nd week of December is seasonally +ve when Nifty makes  a bottom around last week of November.Range for this week stands at 93 points till today.

Nov25 Update

Nifty bounced strongly above 6100 levels with lower volumes and +ve breadth. Important points for today.

1. Nifty up by 2.0% with 1.75 breadth.
2. 59th day since the lows of 5118, 36th day since the lows of 5700.

Nifty closed above 6100 levels today. Nifty going above previous swing high of 6212 will indicate that new highs above 6342 will come soon. Given the strong momentum , Nifty may take out 6200/6300 levels this week itself. Today's range was 88 points .

Nov22 Update

Nifty moved around 6000 levels with lower volumes and neutral breadth. Important points for today.

1. Nifty down by 0.1% with 0.83 breadth.
2. 58th day since the lows of 5118, 35th day since the lows of 5700.

Nifty closed flat and on weekly basis closed 1% down. Weekly range was 240 points.  Nifty is taking support at 5950 levels , decisive break below 5950 will take Nifty to 5800->5700 levels. Close above 6100 will open the path upto 6250 atleast.

Nov21 Update

Nifty slid below 6000 levels with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 2.0% with 0.43 breadth.
2. 57th day since the lows of 5118, 34th day since the lows of 5700.

Nifty slid for 2nd consecutive day and closed below 6000 levels retracing all of the gains in 2 days. But if Nifty does not closed below 5972 in next 2 days then this slide id just bottoming @5950 levels and Nifty may move up from here to new highs. Today's range was 12 points and weekly range is 227 points. Monthly/Quarterly range remain at 370/642 points.

Nov20 Update

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

1. Nifty down by 1.3% with 0.9 breadth.
2. 56th day since the lows of 5118, 33rd day since the swing lows of 5700.

Nifty dropped down and closed below important support 6150 levels. This indicates Nifty to remain in short term weakness now until it crossed and closes above 6180/6200 levels. Strong downside support is there at 6000-6050 if Nifty goes there.Today's range was 98 points and weekly range is 106 points.

Nov19 Update

Nifty moved in very narrow range around 6200 with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.2% with 1.0 breadth.
2. 55th day since the lows of 5118, 32nd day since the swing lows of 5700.

Nifty closed just above 6200 levels. Nifty is consolidating the gains scored over previous 2 days.Sustaining for another 1-2 days , Nifty may move higher above 6350 in coming days. Todays range was 32 points and weekly range stands at 102 points.

Nov18 Update

Nifty powered up today with moderate volumes and +ve breadth. Important points for today.

1 . Nifty up by 2.2% with 1.7 breadth.
2. 54th day since the lows of 5118, 31st day since the swing lows of 5700.

Nifty moved past 6150 and closed just below 6200 today. Nifty has bounced strongly and is now bumping into resistance 6150-6200. Given the strong momentum, Nifty is likely to continue its upside for next few days though it may pause immediately here around 6200 levels. Todays range was 86 points. 

Nov13 Update

Nifty moved in 70 point range with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.5% with 0.5 breadth.
2. 52nd day since the lows of 5118, 29th day since the lows of 5700, 7th day since the highs of 6342.


Nifty closed below 6000 levels. Today was 7th consecutive down day of Nifty. 5950 is a good support of Nifty below which 5700-5800 will be strong support levels. Weekly range stands at 169 points and monthly range is 370 points till today. Short term trend turns up only on close above 6080 levels.

Nov12 Update

Nifty continues its slide with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 1.0% with 0.5 breadth.
2. 51st day since the swing lows of 5118, 28th day since the swing lows of 5700. 6th day since the swing highs of 6342.

Nifty closed below 6050 today and has breached the support zone and previous swing of 6050-6032. Nifty shows +ve divergence on RSI on hourly scale , so bounce may happen soon. Trade above 6100 will turn the short term trend up and above 6200, Nifty may scale new highs. Below 6000 levels 5950/5800 may be tested. Today range was 97 points. Weekly/Monthly range stands at 130/331 points.

Nov11 Update

Nifty dipped below 6100 with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 1.0% with 0.54 breadth.
2. 461st day since the lows of 4531, 50th day since the swing lows of 5118, 27th day since the swing lows of 5700.

Nifty was down for 5th consecutive day and closed below 6100 levels and below the previous swing low of 6079 that it made on RBI policy day in october. Nifty is right now at support zone of 6050 and showing +ve divergence also,so bounce from here can come and if Nifty closes above 6200 level then 6350 can also be surpassed. Today's range was 74 points and Monthly/Quarterly range is 272/642 points.

Nov8 Update

Nifty slid further towards 6100 levels with moderate volumes and -ve beadth. Important points for today.

1. Nifty down by 0.6% with 0.7 breadth.
2. 460th day since the lows of 4531, 49th day since the swing lows of  5118, 26th day since the swing lows of 5700.

Nifty was down for the 4th consecutive day. Nifty closed below 6150 today. Nifty is now in support zone after reversing from 6342 levels.Today's range was 65 points while weekly/monthly range stand at 186/222 points till today. Nifty reversed all of the previous week's gain.6050 is the level to look for and breach of it will signal that short term top at 6342 has been formed.

Nov7 Update

Nifty swung both ways with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.55% with 0.6 breadth.
2. 459th day since the lows of 4531, 48th day since the swing lows of 5118, 25th day since the swing lows of 5700.

Nifty bounced towards 6288 but squandered all the gains to close below 6200 levels. Today was the 3rd consecutive down day. Range for today was 108 points and weekly/monthly range is 124/162 points.   Nifty may have 1 more upside leg left towards 6450 levels, for that Nifty should take support around 6150 levels.

Nov6 Update

Nifty slid further towards 6200 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 0.6% with 1.1 breadth.
2. 458th day since the lows of 4531, 47th day since the swing lows of 5118, 24th day since the swing lows of 5700.

Nifty closed in the red for the second consecutive day. 6050-6150 is likely to give support and unless this breaks , expect Nifty to bounce back to 6400+ in coming days. Today's range was 61 points and monthly range is 134 points till now.

Nov5 Update

Nifty slipped below 6300 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 1.0% with 1.2 breadth.
2. 457th day since the lows of 4531, 46th day since the swing lows of 5118, 23rd day since the swing lows of 5700.

Nifty closed below 6300 levels and started a short term correction.6050-6150 should provide support incase Nifty falls further. If Nifty does not breach 6050 level then 6350 could be reattempted in coming days. But breach of 5950 levels would sigal Nifty has topped at 6350 for Intermediate term and sideways to bearish mode may continue for some time. Today range was 642 points.

Nov1 Update

Nifty moved sideways in narrow range with higher volumes and +ve breadth. Important points for today.

1. Nifty up by 0.1% with 1.8 breadth.
2. 456th day since the lows of 4531, 45th day since the swing lows of 5118, 22nd day since the swing lows of 5700.

Nifty closed above 6300 levels but moved in a range of only 46 points. Today was 4th day since of the bounce from 6079 levels. Nifty ended the week with gain of 2.7%. Nifty is facing 2 significant resistance at 6350 and 6400-6450. Whether Nifty forms a Top over here or No will become clear in coming days but correction is imminent within next 100-150 points.