Dec30 Update

Nifty attempted 6350 levels and sold off with lower volumes and neutral breadth. Important points for today.

1. Nifty down by 0.35% with 1.0 breadth.
2. 83rd day since the lows of 5118,60th day since the lows of 5700.

Nifty opened near 6344 but slipped from there to close below 6300. Nifty has encountered resistance near 6350 level again. But given that volumes were quite low so another 1-2 days of weakness is needed to confirm reversal on downside. 6250 is strong Nifty support and close below that will be bearish for Nifty. Above 6350 Nifty may go upto 6450-6500 levels. Todays range was 71 points and Monthly range stands at 286 points.

Dec27 Update

Nifty closed above 6300 with lower volumes and neutral breadth. Important points for today.


1. Nifty up by 0.6% with 1.25 breadth.
2. 82nd day since the lows of 5118, 59th day since the days of 5700.

Nifty traded in 35 point range and closed above 6300. Weekly range was only 65 points. Monthly range stands at 286 points till now. 6250 is strong support now and close above 6350 will open path for ~6500 in Nifty.

Dec26 Update

Nifty wavered aimlessly within 43 points with moderate volumes and  +ve breadth. Important points for today.

1. Nifty up by 0.15% with 2.0 breadth.
2. 81st day since the lows of 5118, 58th day since the lows of 5700.

Nifty closed flat without doing anything much.Todays range was 43 point and weekly range stands at 58 points. Weekly range indicates that either 6350 Or 6200 could happen tomorrow and is high probability of seeing either of the two levels. On upside 6450-6500 is the main resistance while below 6150 should provide first support.

Dec23 Update

Nifty hovered around 6300 levels with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 0.15% with 1.9 breadth.
2. 79th day since the lows of 5118, 56th day since the lows of 5700.

Nifty closed below 6300 today though it stayed above 6300 for most time.Todays range was 51 points. 6230-6250 is main support of Nifty an 6330-6350 is resistance. Nifty is likely to trade between 6230-6350. Nifty may attempt 6450 in this week as that is trendline resistance of Nifty. Monthly range remains at 286 points 

Dec20 Update

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

1. Nifty up by 1.8% with 2.3 breadth.
2. 78th day since the lows of 5118, 55th day since the lows of 5700.

Nifty ended the week above 6250 with a gain of 1.8% on weekly basis. So in 4 weeks Nifty has gained 280 points(4.6%)  after falling by 312 points(5%) in 3 weeks. Even though Nifty took out the previous high of 6342 on daily and intraday basis but on weekly basis , this rally is still taking more time. It is likely that this rally may test again 6400-6500 zone by next week. Weekly range for this week was 155 points and Nifty has 100+ point range in each of last 3 days, indicating increase in volatility.

Dec19 Update

Nifty opened above 6250 levels but sold off amid heavy volumes and neutral breadth. Important points for today.

1. Nifty down by 0.8% with 0.8 breadth.
2. 77th day since the lows of 5118, 54th day since the lows of 5700.

Nifty opened gap up but sold off big to close below 6200 levels erasing all the gains of yesterday. Todays range was 113 points. Weekly range now stands at 134 points While monthly range remains at 286 points. Short term Nifty is in 6130-6260 range. Breaking 6250 on closing basis will open the way for 6350-6400 levels. While breach of 6100 on closing basis will open the way for 5900-5950 levels.

Dec18 Update

Nifty  bounced up above 6200 levels with higher volumes and +ve breadth. Important points for today.

1. Nifty up by 1.25% with 2.0 breadth.
2. 76th day since the lows of 5118, 73rd day since the lows of 5700.

Nifty closed above 6200 today bouncing from trendline support joining 5700-5972. 6230-6250 is the resistance zone. If Nifty manages to close above above this zone, then 6350 may happen soon. Todays range was 107 points. Weekly/ Monthly range stands at 107/286 points.

Dec17 Update

Nifty again moved around 6150 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 0.25% with 0.8 breadth.
2. 75th day since the lows of 5118, 52nd day since the lows of 5700.

Nifty attempted to go past 6200 levels but fell below 6150 level and closed below it. Today's range was 57 points. Nifty  is close to rising trendline support at 6100+.  6100-6250 is the immediate range for Nifty. Above 6250, 6400+ is possible, below 6100, 5900- may be seen. Weekly range stands at 57 points in 2 days with Monthly range at 282 points.

Dec16 Update

Nifty moved around 6150 support level with lower volumes and -ve breadth. Important points for today.

1. Nifty down by 0.25% with 0.74 breadth.
2. 74th day since the lows of 5118, 51st day since the lows of 5700.

Nifty closed mildly in the red but above 6150 level. Todays range was 37 points and monthly range now stands at 269 points. Rising trendline support comes at 6100 levels ,so holding around these levels ,Nifty may attempt 6200-6250-6300-6400 levels.

Dec13 Update

Nifty slid further below 6200 levels with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 1.1% with 0.33 breadth.
2. 73rd day since the lows of 5118, 50th day since the lows of 5700.

Nifty closed below 6200 levels breaching the 6230-6250 zone. Nifty closed the week with a loss of 1.5% . Sustaining above 6250, Nifty may attempt higher levels 6350-6415. On Downside, Nifty has support in 6050-6150 zone. Weekly range was 254 points and monthly range stands at 266 points.

Dec12 Update

Nifty slipped further below 6250 levels amid lower volumes and -ve breadth. Important points for today.

1. Nifty down by 1.1% with 0.57 breadth.
2. 72nd day since the lows of 5118, 49th day since the lows of 5700.

Nifty ended in red for 3rd consecutive day and closed below 6250 level. Todays range was 56 points and weekly range is 185 points now. If Nifty closes below 6200 level for 2 consecutive days then Nifty has formed a Top @6415 and entered into correction mode. Sustaining 6200 level, Nifty could attempt 6400+ levels again.

Dec11 Update

Nifty dipped below 6300 amid moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.4% with 0.7 breadth.
2. 71st day since the lows of 5118, 48th day since the lows of 5700.

Nifty closed just above 6300 but in the red. Nifty has corrected about 2% from monday morning highs.Weekly/Monthly range stand at 135/266 points till today. Nifty has filled the gap of monday morning and upside may be expected from here on. I see limited upside from previous high of 6415 in short term(in Dec) by 50-100 points only. Let us see Whether Nifty is able to take 6415 in next 2 days of this week.

Dec10 Update

Nifty went down below 6350 amide higher volumes and -ve breadth. Important points for today.

1. Nifty down by 0.5% with 0.44 breadth.
2. 70th day since the lows of 5118, 47th day since the lows of 5700.

Nifty closed below 6350 today.Unless Nifty closes above 6363 tomorrow, it may have entered short term correction with possible target of 6250-6275 on downside before rising again. Nifty's significant resistance exist in the 6450-6500 zone. Today's range was 55 points and weekly/monthly range now stands at 108/266 points. Looking from Range perspective , there may be pullback from around 6500 levels that could last till mid of january.

Dec9 Update

Nifty broke the previous all time high amid heavy volumes and neutral breadth. Important points for today.

1. Nifty up by 1.7% with 1.0 breadth.
2. 69th day since the lows of 5118, 46th day since the lows of 5700.


Nifty decimated the 5 year old highs and closed above it indicating a big breakout . But the momentum above 6400 did not last and closed just above 6350 levels. Nifty will attempt to go above 6400 again and if momentum is not sustained again then Nifty may go into sideways pause inorder to consolidate the breakout above 6350. Todays range was 70 points and monthly range now stands at 266 points.

Dec6 Update

Nifty moved around 6250 with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.3% with 1.15 breadth.
2. 68th day since the lows of 5118, 45th day since the lows of 5700.


Nifty inched upwards amid narrow range of 45 points. On weekly Nifty closed up by 1.3%. This week's range was 151 points. Monthly range till now is also 151 points. Nifty is likely to attempt to go past 6350 next week. on Downside 6200-6230 will act as strong support zone.

Dec5 Update

Nifty opened gap up with higher volumes and neutral breadth. Important points for today.

1. Nifty up by 1.35% with 1.0 breadth.
2. 67th day since the lows of 5118, 44th day since the lows of 5700.

Nifty opened above 6250 and touched 6300 but could not sustain higher levels and closed below 6250 levels. Today's range was 68 points though Nifty closed with a gain of 81 points. Nifty still has a gap at 6209 yet to be filled. Weekly range till now is 151 points. If Nifty sustains around 6250 tomorrow then doors for higher levels above 6350 remain open for next week.

Dec4 Update

Nifty slipped below 6200 levels with moderate volumes and slightly -ve breadth. Important points for today.

1. Nifty down by 0.7% with 0.78 breadth.
2. 66th day since the lows of 5118, 43rd day since the lows of 5700.

Nifty closed below 6200 levels and just near support levels of 6150. If Nifty bounces up from above 6200, then 6350 could be targetted in short term. Todays range was 60 points and weekly range was 79 points till today. Any weakness below 6150 indicates weakness and revisit to lows of 5972 may be possible on below 6150.

Dec3 Update

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

1. Nifty down by 0.25% with 1.0 breadth.
2. 65th day since the lows of 5118, 42nd day since the lows of 5700.

Nifty moved around 6200 within a range of 34 points. Today was a inside day of Nifty.  Short term Nifty is in uptrend and significant resistance is at 6300 only. So Nifty likely to go to 6300+ levels before going for any deeper correction.Don't expect Nifty to test 6150 level without facing resistance at higher levels. Weekly range remains at 57 points.

Dec2 Update

Nifty moved above 6200 levels but could not move much higher amid lower volumes and +ve breadth. Important points for today.

1. Nifty up by 0.7% with 1.7 breadth.
2. 64th day since the lows of 5118, 41st day since the lows of 5700.

Nifty closed above 6200 level today and today's range was 57 points. Above 6250 , 6350 is the next resistance. Today was 6th day of the upmove from 5972. Nifty is headed higher above 6350 in next few weeks but the upmove may be rocky and not straight line, so trading opportunity may emerge. 6150 is the strong support level and 6350 is the last resistance.