Nov21 Update

Nifty  moved up decisively above 8450 with higher volumes and -ve breadth. Important points for today.

1. Nifty up by 0.9% with 0.75 breadth.
2. 296th day since the lows of 5118, 194th day since the lows of 5933.

Nifty closed above 8450 today. Today's range was 91 points and weekly range was 140 points. Nifty has crossed 8450 and sustaining that, 8550 is the next resistance level. 8400 is now the support level for Nifty. Monthly range now stands at 199 points with 5 days to go.

Nov20 Update

Nifty bounced off from 8350 levels to above 8400 amid moderate volumes and -ve breadth. Important points for today.

1. Nifty up by 0.25% with 0.58 breadth.
2. 295th day since the lows of 5118, 193rd day since the lows of 5933.

Nifty tested 8350 levels and bounced later to close above 8400 level. Nifty has found support at 8350 level and if this is retained then Nifty to make new highs above 8500 soon. Todays range was 57 and weekly/monthly range remain at 106/165 points till today.

Nov19 Update

Nifty slipped below 8400 today amid higher volumes and -ve breadth. Important points for today.

1. Nifty down by 0.5% with 0.52 breadth.
2. 294th day since the lows of 5118, 192nd day since the lows of 5933.

Nifty made a higher high at open and slipped after that to close in the red below 8400. Todays range was 90 points and Weekly range stands at 106 points. Nifty closed just above 7ema today.  Further weakness below 7ema will lead to Nifty seeking lower support at 8200 levels ie consecutive hourly closing below 8350 indicate short top formation at 8455. But if Nifty retains 8350 level , then newer high may come by early next week above 8500 level. Monthly range is 164 points till today. Monthly range expansion is very likely by atleast 80-100 points, so 8290 Or 8455 will breach by ~100 points in this expiry.

Nov18 Update

Nifty opened positive and moved above 8450 level but came down later to close mildly in red with higher volumes and neutral breadth.

1. Nifty down by 0.05% with 1.2 breadth.
2. 293rd day since the lows of 5118, 191st day since the lows of 5933.

Nifty closed nearly flat and touched 8450 level Intraday. Nifty is trading in narrow range with small upside since last 10 days after breakout move above 8180 level. Trendline resistance stands ~@8450 level , so correction is round the corner in Nifty.   Downside support exists at 8350/8200 level. Today's range was 47 points and weekly at 105 points till today.

Nov17 Update

Nifty moved above 8400 today amid higher volumes and neutral breadth. Important points for today.

1. Nifty up by 0.5% with 1.15 breadth.
2. 292nd day since the lows of 5118, 190th day since the lows of 5933.

Nifty hovered between 8350-8400 till afternoon but moved above 8400 and closed above it towards closing. Today's range was 89 points and monthly range stands at 148 points till today. Another 1-2 days, if Nifty survives and closes above 8400, rapid upmove may happen. Weakness to emerge only below 8350 now.

Nov13 Update

Nifty had a mini pullback today with higher volumes and -ve breadth. Important points for today.

1. Nifty down by 0.3% with 0.63 breadth.
2. 290th day since the lows of 5118, 189th day since the lows of 5933.

Nifty opened above 8400 level but came down to test lower 8300 levels before closing just above 8350. If Nifty stays above 8300, it can move for new highs above 8415 but below 8300, 8200 can come very soon. in the absence of big momentum upmove above 8450, Nifty is likely to exhaust itself above 8450 levels. Weekly/Monthly range stays at 111/125 levels till today.

Nov12 Update

Nifty today crossed 8400 level but closed below it. Important points for today.

1. Nifty up by 0.25% with 1.0 breadth.
2. 290th day since the lows of 5118, 182nd day since the lows of 5933.

Nifty moved in 45 point range crossing 8400 intraday but closed below it. Nifty is inching upwards since last 6 days having moved 61 points in 6 days. 8400-8450 is Daily trendline resistance zone and Nifty has bumped into it today. Unless 8450 is crossed and close above it for 2 days, Nifty may undergo pullback from here. Weekly/Monthly range stand at 111/125 points till today. On downside 8200 is main support of Nifty.

Nov11 Update

Nifty was again rangebound today in 57 points with higher volumes and neutral breadth. Important points for today.

1. Nifty up by 0.2% with 1.1 breadth.
2. 289th day since the lows of 5118, 181st day since the lows of 5933.

Nifty closed above 8350 level though yesterday's high were not breached. Nifty is inching up into resistance zone of 8400-8450. Today was 6th day since Nifty broke through 8180 level. Look for fast Pullback from 8400+ levels in next few days for around 8200 levels. Only if Nifty goes past and closes above 8400 for 2 consecutive days will indicate further strength in Nifty. Monthly range remains at 93 points till today.

Nov10 Update

Nifty opened above 8350 levels but gave up the gains trading with higher volumes and neutral breadth. Important points for today.

1. Nifty up by 0.1% with 1.0 breadth.
2. 288th day since the lows of 5118, 180th day since the lows of 5933.

Nifty closed just above previous close. Nifty's range was 79 points today. 8350-8400 is acting as good resistance for Nifty though trendline resistance stands at 8400+. Nifty is having shallow Pullbacks from 8350+ levels. Unless Nifty crosses 8400-8450 with strong momentum, this zone will give pullback of 150-200 points on downside.. Nifty remains in uptrend till 8200 is retained on closing basis. Monthly range stands at 93 points till today.

Nov7 Update

Nifty dipped below 8300 level but closed flat with very high volumes and neutral breadth. Important points for today.

1. Nifty flat with 0.8 breadth.
2. 287th day since the lows of 5118, 179th day since the lows of 5933.

Nifty closed flat for 3rd consecutive day. This week's range was only 75 points. Though Nifty moved in a narrow range but it has not showed any weakness by dipping to test below 8200 level till now. This looks like consolidation after breakout above 8180 level if Nifty retains 8250+ level another 1-2 days. Monthly range is also 75 points till today.

Nov5 Update

Nifty  was ranged in 40+ points with high volumes and neutral breadth. Important points for today.

1. Nifty up by 0.17% with 1.2 breadth.
2. 286th day since the lows of 5118, 178th day since the lows of 5933.

Nifty closed up marginally. Today's range was 42 points and weekly range is 68 points till today. Nifty will either breach 8365 or 8297 by about 40-50 points on Friday. 8400 is the main resistance trendline that Nifty is unable to break since May. Expect Pullback from around 8400(+-25) levels. Sustaining below 8200 only will open lower targets else Nifty remains in uptrend above 8200+. 

Nov3 Update

Nifty moved in narrow range of 53 points with high volumes and +ve breadth. Important points for today.

1. Nifty flat with 2.0 breadth.
2. 285th day since the lows of 5118, 177th day since the lows of 5933.

Nifty closed flat after a ravishing move on Friday. 8300 is retained for now. Staying 8250+ , Nifty is destined for higher levels in coming days. Quarterly range stands at 627 points till today. Nifty remains in firm upward move with 8400 coming as trendline resistance. Expect to see some pullback from ~8400 unless there is strong thrusting move breaking 8400 level.

Oct31 Update

Nifty opened gap up and broke through 8200/8300 levels amid high volumes and +ve breadth. Important points for today.

1. Nifty up by 1.9% with 1.9 breadth.
2. 284th day since the lows of 5118, 176th day since the lows of 5933.

Nifty closed above previous highs and above 8300 level. Today was 3rd gap of Nifty from 7723(unfilled). Todays range was 132 points and Weekly/Monthly range ended at 345/607 points. After May this was highest range for the month. Around 8400 is the trendline resistance of Nifty but given the momentum, expect only running correction during the day. Daily charts are firmly bullish , so any dip/weakness during intraday is a buying opportunity in coming days. 8150-8200 are strong support of Nifty in downside and SL for longs.

Oct30 Update

Nifty moved up all through the day with higher volumes and +ve breadth. Important points for today.

1. Nifty up by 1.0% with 1.2 breadth.
2. 283rd day since the lows of 5118, 175th day since the lows of 5933.

Nifty closed above 8150 level today. Today's range was 96 points and weekly/monthly range stands at 196/448 points till today. Nifty has given breakout on upside. New highs should be there now with 8100-8150 as strong support on downside.

Oct29 Update

Nifty opened with a gap above 8050 and retained it with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 0.8% with 1.3 breadth.
2. 282nd day since the lows of 5118, 174th day since the lows of 5933.

Nifty closed just below 8100 level and retained the morning gap up. This was 3rd gap of this upmove from 7723. Today was 8th day from lows of 7723. Nifty has retraced nearly 80% of the fall from 8180-7723. This is inflection point and Nifty should give 200-300 point move in either direction from here and upmove looks more likely if Nifty retains 8000 level for another 2 days. Monthly range stands at 374 points till today and weekly range is 112 points.

Oct28 Update

Nifty traded in narrow range above 8000 level with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 0.4% with 1.2 breadth.
2. 281st day since the lows of 5118, 173rd day since the lows of 5933.

Nifty closed above 8000 level today. Today was an inside day and 7th day since the lows of 7723. 7950-8100 is the current range of Nifty. Breakout of this range should result in significant move on the side of breakout. Monthly range remains at 341 points till today.

Oct27 Update

Nifty opened gap up and slid down below 8000 level towards end with moderate volumes and -ve breadth . Important points for today.

1. Nifty down by 0.3% with 0.67 breadth.
2. 280th day since the lows of 5118,172nd day since the lows of 5933. This is 37th week from lows of 5933 and 61st week from 5118.

Nifty closed below 8000 level today. Though Nifty has dropped below 8000 level but sustaining  above 7950 level, upmove remains intact. 8100 is trendline resistance and cross of this level will open the path for new highs in Nifty. Only close below 7950 will open up bearish implication in Nifty. Monthly range is 341 points till today.

Oct22 Update

Nifty opened gap up and retained the gap closing just below 8000 level with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 0.9% with 2.0 breadth.
2. 278th day since the lows of 5118, 170th day since the lows of 5933.

Nifty closed just below 8000 level after opening gap up. Today was 4th consecutive  day of upmove from 7724. Today's range was 31 points and weekly/Monthly range now stands at 149/282 points. Nifty has broken and closed above  previous swing high of 7977. Nifty ,Now sustaining above 7950 level is headed for new highs in coming days. 

Oct21 Update

Nifty moved above 7900 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.6% with 1.15%.
2. 277th day since the lows of 5118, 169th day since the lows of 5933.

Nifty retained yesterday's gap and closed above 7900 levels. Nifty has closed above previous day's high for 2 days in a row. 7950-8000 is significant resistance zone and if Nifty cross 8000 and sustains then new highs are likely. Weekly/Monthly range stand at 80/254 points. Monthly range expansion is very much likely and with Nifty sustaining 7850 level, higher levels are more likely in October.

Oct20 Update

Nifty opened gap up and maintained the gap through the day amid moderate volumes and +ve breadth. Important points for the day.

1. Nifty up by 1.25% with 1.55 breadth.
2. 276th day since the lows of 5118, 168th day since the lows of 5933.

Nifty bounced strongly and closed above 7850 levels. Today was 2nd consecutive day of upmove from 7723. 7950-8000 is the resistance zone, If Nifty goes through it then new highs are likely. Monthly range stands at 254 points till today and range expansion looks likely in remaining days of October.

Oct16 Update

Nifty traded in about 60 point range till afternoon but broke down later to close below 7750 level with high volumes and -ve breadth. Important points for today.

1. Nifty down by 1.55 with 0.2 breadth.
2. 274th day since the lows of 5118, 167th day since the lows of 5933.

Nifty has broken down below 7800 level today. If unable to close above 7800 level in next 2 days then Nifty is in for medium term consolidation/Correction for next few weeks. 7200-7400 is major support trendline joining 5118-5933.  Nifty has retraced about 70% of the rally from 7540-8180 in 25 days, though rally took 19 days only. Monthly range stands at 248 points till today.  

Oct14 Update

Nifty opened above 7900 but gave up the gains to close in the red with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.25% with 0.7 breadth.
2. 273rd day since the lows of 5118, 166th day since the lows of 5933.

Nifty traded in 103 point range and closed mildly in the red just above 7850 level. Nifty is bouncing off from ~7800 levels since last few days. If credible support/bottom is formed around 7800 level than 7950+ close should be seen and sustained in nifty in next 2-3 days. Close below 7800 is indication of  longer correction in Nifty. Monthly range stands at 181 points till today.

Oct10 Update

Nifty gave up all the gains of yesterday to close below 7900 levels with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 1.25% with 0.36 breadth.
2. 271st day since the lows of 5118, 164th day since the lows of 5933.

Nifty closed the week with a loss of 1.1% with a range of 157 points. Nifty despite all negative momentum survived 7800 level till now for 3 weeks. Next week should see some decisive move. If 7800 is breached , Nifty is in for medium term correction but if Nifty bounces back and stays above 7950 level then new highs likely to be seen before Diwali. Monthly range till now stands at 162 points. 

Oct9 Update

Nifty opened gap up and traded strong +ve all day with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 1.5% with 3.4 breadth.
2. 270th day since the lows of 5118, 163rd day since the lows of 5933.

Nifty was strong today and closed above 7950. Today was gap up indicating strength in Nifty and close was also +ve above 7950 level. Today's range was 86 points. Nifty has bounced off from trendline support of 5933-6638. This was 3rd touch on this line and the bounce can be stronger than expectations. Around 8350-8400 is the channel resistance of Nifty, in which it is trading since 5 months. Monthly range remains at 162 points till today.

Oct8 Update

Nifty slipped further towards 7800 levels with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.1% with 0.77 breadth.
2. 269th day since the lows of 5118, 162nd day since the lows of 5933.

Nifty traded in 54 point range and closed below 7850 levels. Nifty recovered towards the end to close marginally in the red. Nifty took support at trendline connecting 5933-6638. If recovery sustains and Nifty closes above 7950 in next couple of days then bottom formation at 7800 may be done and new highs may come soon. Weekly/Monthly range now stands at 128/162 points.

Oct7 Update

Nifty kept sliding all day and closed just above 7850 with moderately high volumes and -ve breadth. Important points for today.

1. Nifty down by 1.15% with 0.45 breadth.
2. 268th day since the lows of 5118, 161st day since the lows of 5933.

Nifty just about touched the previous swing low of 7841, missing by 1 point. Today's range was 101 points and monthly range is 135 points till today. If 7800 is retained on closing basis in next 3 days then Nifty may aim for new highs in coming week. But if 7800 is breached  then Nifty enters into medium term correction with 7200-7400 as baseline support.

Oct1 Update

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

1. Nifty down by 0.25%  with 0.65 breadth.
2. 267th day since the lows of 5118, 160th day since the lows of 5933.

Nifty moved in 41 point range today and ended the week with a loss of 0.3%. Weekly range was 107 points. Since May, Nifty has not traded in Red for more than 2 weeks. So next week will be crucial and if Nifty breaks down below 7900 and closes the week below it , then Nifty may have entered into medium term consolidation pattern. But if Nifty revives above 8000, then Nifty may make new highs in sudden manner. October is high range month and exhibits high volatility, so expect to see 7500/8500 in this month.

Sep30 Update

Nifty had a mixed day today with higher volumes and neutral breadth. Important points for today.

1. Nifty up by 0.05% with 0.9 breadth.
2. 266th day since the lows of 5118, 159th day since the lows of 5933.

Nifty opened +ve and went past 8000 levels but gave up the gains later and settled nearly flat on closing. Today's range was 107 points and Monthly range ended at 339 points. Quarterly range was 758 points. Next few days will clear up the monthly direction of Nifty. If Nifty goes below 7800, then Nifty may be entering into medium term consolidation range else if 7900(closing) is retained for another 2-3 days then Nifty may spike up to new highs soon.

Sep29 Update

Nifty traded sideways around 7950 with moderate volumes and +ve breadth. Important points for today.

1. Nifty down by 0.12% with 1.9 breadth.
2. 265th day since the lows of 5118,158th day since the lows of 5933.

Nifty had an inside day today with a range of 57 points and closed mildly in the red. 8050/7900 are direction deciders in short term. ~7800 comes strong trendline support of Nifty.  Tomorrow being RBI day may witness large swing in either direction. 7900-8050 is neutral sideways range of Nifty. Monthly range of Nifty till now is 339 points.

Sep25 Update

Nifty slipped all through the day dipping below 7900 level amid high volumes and -ve breadth. Important points for today.

1. Nifty down by 1.1% with 0.16 breadth.
2. 264th day since the lows of 5118, 157th day since the lows of 5933.

Nifty traded in the red all day and closed near day's low just above 7900 level. Todays range was 142 points and weekly/monthly range stands at 283/303 points. Nifty having broken on downside is expected to dip further towards 7800 level in next few days. 7750-7800 comes as strong trendline support. This support is likely to rejuvenate Nifty not seen since May'14.

Sep24 Update

Nifty slipped further down below 8000 levels amid high volumes and -ve breadth. Important points for today.

1. Nifty down by 0.2% with 0.35 breadth.
2. 263rd day since the lows of 5118, 156th day since the lows of 5933.

Nifty hovered around 8000 levels and briefly dipped to 7950 level but bounced immediately from there. Nifty is critically poised now, downside is limited to ~7800 level at worst. Nifty may be preparing the ground for higher move. Weekly/monthly range stands at 209/255 points. Range expansion beyond 7925/8180 is highly likely in next 4 days of the month by 100+ points.

Sep23 Update

Nifty dipped all day today to close near low with high volumes and -ve breadth. Important points for today.
+
1. Nifty down by 1.6% with 0.3 breadth.
2. 262nd day since the lows of 5118, 155th day since the lows of 5933.

Nifty closed near lower 8000 today amid bearish breadth and higher volumes. On Downside, 7750+ is trendline support line from Feb'14, that is increasing each day. 8200 on upside and 7750-7800 on downside is broad trading range of Nifty. Nifty is consolidating with an upward slope since spike of May'14, so breakout is more likely in coming days. Todays range was 141 points and weekly/monthly range stands at 141/255 points.

Sep22 Update

Nifty moved in 95 point range with upward bias and moderate volumes. Important points for today.

1. Nifty up by 0.3% with 1.0 breadth.
2. 261st day since the lows of 5118, 154th day since the lows of 5933.

Nifty closed just below 8150 level. Nifty is finding resistance at 8150+ but 8100 is acting as a base for Nifty . Nifty in the absence of trigger can slide upto 8300+ levels. Event based trigger is needed to take Nifty past the resistance zone as Nifty remains in upside but momentum is missing.

Sep10 Update

Nifty slipped further below 8100 level amid high volumes and +ve breadth. Important points for today.

1. Nifty down by 0.7% with 1.3 breadth.
2. 253rd day since the lows of 5118, 146th day since the lows of 5933.

Nifty closed in the red for 2nd consecutive day and below 8100 level. Todays range was 53 points and Nifty closed just  below 7ema. If Nifty slides further to go below 8050, then retest of Gap region at 7968 can happen soon. But if Nifty sustains above 8050, then sudden reversal to 8200 may be coming. Next 2-3 days should see a move in 1 direction.

Sep9 Update

Nifty drifted down today amid higher volumes and neutral breadth. Important points for today.

1. Nifty down by 0.25% with 1.1 breadth.
2. 252nd day since the lows of 5118, 145th day since the lows of 5933.

Nifty ended the day mildly in the red though it closed above 8150. Today's range was 48 points only and was an inside day. Weekly range for this week stands at 54 points till today and monthly range is 196 points. September is a high range month, so 400+ is expected in this month atleast. Nifty remains is upward bias but upside momentum is low and needs pullback to push higher at every resistance.8150-8200 is upper channel resistance.

Sep8 Update

Nifty made new highs above 8150 with higher volumes and +ve breadth. Important points for today.

1. Nifty up by 1.1% with 3.0 breadth.
2. 251st day since the lows of 5118, 144th day since the lows of 5933.

Nifty opened gap up and moved higher up till the end. Today's range was 54 points. Nifty today crossed the (450pt)channel that it is engulfed in since Late May. If channel breakout is confirmed for another 1-2 days then nifty can scale 8500+ in next few days.

Sep5 Update

Nifty was sideways with downside bias amid higher volumes and +ve breadth. Important points for today.

1. Nifty down by 0.1% with 1.3 breadth.
2. 250th day since the lows of 5118, 143rd day since the lows of 5933.

Nifty moved in 73 point range and closed mildly in the red. Weekly , Nifty closed up by 1.65%. Weekly/Monthly range stands at 157 points. Nifty is moving in 8050-8150 range since last 3-4 days. Breach would lead to 100 pt move in the direction of breach immediately. No great triggers appear as of now for big move in either direction, so Nifty may keep inching up/down till it prepares ground for a new move in any direction. Nifty is moving in an upward sloping channel since Late may, so expected breach of this channel is on upside. Current high/low of the channels are 8150/7700.

Sep4 Update

Nifty retreated below 8100 level today amid higher volumes and -ve breadth. Important points for today.

1. Nifty down by 0.2% with 0.5 breadth.
2. 249th day since the lows of 5118, 142nd day since the lows of 5933.

Nifty closed below 8100 level today. Today's range was 54 points and Nifty closed just above yesterday's low. 7950+ keeps the short term momentum +ve and below 7850 Nifty turns -ve for deeper fall though 7750 comes in as major support. For now 7950-8200 may be the range for next few days till Nifty resolves itself for the next directional move.

Sep3 Update

Nifty moved further up towards 8150 amid higher volumes and neutral breadth. Important points for today.

1. Nifty up by 0.4% with 1.0 breadth.
2. 248th day since the lows of 5118, 141st day since the lows of 5933.

Nifty closed midway of today's range of 49 and above 8100 levels. Nifty now faces Trendline resistance @8150+.  Pullback is likely in next 1-2 days with 7950-7984 as good support. Weekly/Quarterly range stands at 157/719 points.

Sep2 Update

Nifty powered its way further up above 8100 with higher volumes and +ve breadth. Important points for today.

1. Nifty up by 0.7% with 1.5 breadth.
2.  247th day since the lows of 5118, 140th day since the lows of 5933.

Nifty extended the bull run over 8100 today. Some -ve divergences are there on hourly scale. 8150-8200 are trendline price resistance level and pullback from these points is highly likely. 7950 is the first main support of Nifty on downside and 7968-7984 gap is also a good support. Todays range was 65 points and Weekly/Quarterly range now stands at 117/679 points.

Sep1 Update

Nifty opened gap up and closed above 8000 level with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 0.9% with 2.15 breadth.
2. 246th day since the lows of 5118, 139th day since the lows of 5933.

Nifty opened gap up and traded above 8000 level all day. Today's range was 50 points. Today was 14th day since the lows of 7540. Nifty faces resistance at 8150-8200 levels and RSI is also in the deep resistance zone. Nifty likely to move up in sideways/consolidating manner. 7950+ keeps Nifty in short term upmove while 7850 keeps Nifty in Upmove. 7750 is strong support for Nifty , below which only Nifty could make a sharp fall.

Aug28 Update

Nifty moved around 7950 today with high volumes and neutral breadth. Important points for today.

1. Nifty up by 0.25% with 0.8 breadth.
2. 245th day since the lows of 5118, 138th day since the lows of 5933.

Nifty closed above 7950 and was up by 0.6% on weekly basis. This was 3rd consecutive up week of Nifty. Daily trend remains +ve though Nifty find ing breaking the resistance at 7970 tough to break. Above 7850, Nifty remains in upmove , so if no gap up early next week(to 8000+) then Nifty may move down to gather momentum. Only decisive break below 7850, will put Nifty in downmove. August ended with range of 428 points and Quarterly range stands at 546 points.

Aug27 Update

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

1. Nifty up by 0.4% with 1.2 breadth.
2. 244th day since the lows of 5118, 137th day since the lows of 5933.

Nifty moved in 30 point range today and closed above previous closing high. 7950 was not attempted today intraday , so high of 7968 is not breached. Nifty likely to jump by atleast 100 points in next 1-3 days, 7850/7950 are the threshold points for each directional move.

Aug26 Update

Nifty drifted further down towards 7850 with moderate volumes and -ve breadth. Important points for today.

1. Nifty flat with 0.5 breadth.
2.  243rd day since the lows of 5118, 136th day since the lows of 5933.

Nifty traded in the red most of time, but bounced later to close above 7900 level. Todays range was 53 points and weekly range stands at 106 points till today. 7850-7950 is the broad trading range for now. If Nifty survives 7850 level this week and ends around 7900 by end of week, then Nifty likely to jump by 200 points(up/down) early next week.

Aug25 Update

Nifty moved past 7950 today but slipped down to 7900 levels with moderate volumes and -ve breadth.Important points for today.

1. Nifty down by 0.1% with 0.6 breadth.
2. 242nd day since the lows of 5118, 135th day since the lows of 5933.

Nifty moved past important level of 7950 but got resisted towards the end and closed just above 7900 levels. This pullback may have some more room to go. 7840/50 is main support of Nifty, if Nifty closes below this level then deeper correction may happen but staying above it , Nifty may make new highs again. Todays range was 71 points and monthly range now stands at 428 points.

Aug22 Update

Nifty moved in a very narrow range above 7900 level with moderate volume and neutral breadth Important points for today.

1. Nifty up by 0.3% with 0.9 breadth.
2. 241st day since the lows of 5118, 134th day since the lows of 5933.

Nifty moved in 29 point range today and closed above 7900 level. Weekly /Monthly range stand at 150/389 points. Nifty closed up 1.55% on weekly basis. Quarterly range stands at 507 points till today. Nifty remains in upward momentum till it closes below 7ema on closing basis.

Aug21 Update

Nifty was sideways consolidation around 7900 level with higher volumes and neutral breadth. Important points for today.

1. Nifty down by 0.1% with 1.2 breadth.
2. 240th day since the lows of 5118, 133rd day since the lows of 5933.

Nifty closed almost flat after hovering around 7900 today. Nifty broke yesterdays low marginally and todays range was 64 points. If Nifty has topped out then close below 7850 will be early indication but if it is consolidating for higher move then Nifty may not breach 7850(close) . 8000-8050 has trendline resistance for Nifty.

Aug20 Update

Nifty opened above 7900 but gave up the gains to close below 7900 amid moderate volumes and neutral breadth. Important points for the day.

1. Nifty down by 0.3% with 1.25 breadth.
2. 239th day since the lows of 5118, 132nd day since the lows of 5933.

Nifty opened at new highs but could not sustain 7900+ level and closed below it. Today's range was 56 points and weekly/monthly range stands at 143/382 points. Nifty today broke the rising trendline from 7540 and closed below it. 7850-7800 are good support of Nifty.

Aug19 Update

Nifty moved above 7900 in a narrow range with higher volumes and +ve breadth. Important points for today.

1. Nifty up by 0.3% with 1.55 breadth.
2. 238th day since the lows of 5118, 131st day since the lows of 5933.

Nifty closed just below 7900 after hovering around it all day. Today's range was 37 points and weekly/monthly range stands at 139/378 points. Nifty's momentum is +ve but weakening. Divergences appear on hourly scale but till Nifty trades above 7ema, Nifty is setup for more gains.

Aug18 Update

Nifty moved up gradually all day with moderate volumes and +ve breadth to close above 7850. Important points for today.

1. Nifty up by 1.05% with 2.6 breadth.
2. 237th day since the lows of 5118, 130th day since the lows of 5933.

Nifty closed above 7850 today and was up for the 5th consecutive day. Today was new high for Nifty. Nifty has reversed the fall from 7840-7540 is just 5 days. 7950-8050 is the rising trendline resistance for Nifty. Momentum is +ve but doesn't look strong enough to breakout above trendline resistance at 8050.  

Aug14 Update

Nifty moved towards its last resistance of 7800 with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 0.7% with 1.5 breadth.
2. 236th day since the lows of 5118, 129th day since the lows of 5933.

Nifty closed just below 7800 levels . 85% retracement of fall is done in 4 days. Momentum is +ve +ve but muted , so new highs above 7840 should be slow and small. Channel resistance stands at around 8000-8050. Monthly range stands at 256 points till now.Quarterly range is 418 points.

Aug13 Update

Nifty got resisted at 7750+ with higher volumes and -ve breadth. Important points for today.

1. Nifty up by 0.15% with 0.3 breadth.
2. 235th day since the lows of 5118, 128th day since the lows of 5933.

Nifty underwent mini correction from 7750 to sub 7700 but closed in the green. Today's range was 217 points and weekly/Monthly range stands at 159/217 points. Next resistance is 7800 if Nifty survives above 7750 consistently, else trendline from 7540 comes at about 7680-7700 as support for tomorrow. Till this trendline is breached , Nifty remains in uptrend.

Aug12 Update

Nifty again opened gap and closed above 7700 level with moderate volumes and neutral breadth.

1. Nifty up by 1.33% with 1.3 breadth.
2. 234th day since the lows of 5118, 127th day since the lows of 5933. 

Nifty opened gap up for 2nd consecutive day. Todays range was 81 points and Weekly Range is 137 points till today. Nifty has closed above the falling trendline resistance (7840-7800-7750) ,so next significant resistance for Nifty now comes at 7750/7800 , ie horizontal resistance.

Aug11 Update

Nifty opened gap up above 7600 level and retained the gap till close. Important points for the day.

1. Nifty closed up 0.75% with 1.55 breadth.
2.  233rd days since the lows of 5118, 126th day since the lows of 5933.

Nifty closed above 7600 level and range was 37 points. Nifty has formed a short term bottom at 7540. Falling trendline is at 7700 ,which if crossed then 7750-7800 will be the last resistance. Monthly range stands at 212 points till today.

Aug6 Update

Nifty gave up the gains of yesterday with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 1.0% with 0.9 breadth.
2. 230th day since the lows of 5118, 123rd day since the lows of 5933.

Nifty closed below 7700 level and below 3/7 ema after closing above it. Nifty has resistance zone from 7740-7790. Any further attempt to bounce should not cross this zone. On Lower side support 7670 is minor support of Nifty and below that, 7550 is strong trendline support of Nifty. Todays range was 82 points and Weekly/Monthly range stands at 140/159 points.

Aug5 Update

Nifty bounced further up above 7700 level with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 0.85% with 1.8 breadth.
2. 229th day since the lows of 5118, 122nd day since the lows of 5933.

Nifty closed just below 7750 level. Nifty today closed above 3ema. 7740-7790 is  max retracement zone of Nifty if correction from 7840 continues. If Nifty sustains below 7700 level, then drop below 7600 likely to come soon. Today's range was 114 points and weekly/monthly range stands at 130/159 points. 

Aug4 Update

Nifty opened gap up and  remained in +ve territory with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 1.1% with 2.3 breadth.
2. 228th day since the lows of 5118, 121st day since the lows of 5933.

Nifty bounced after Friday's selloff and closed above 3ema. If Nifty sustains above 3 ema for another 2 days , then it is reversal with new highs above 7800 soon. 7700-7725 will provide resistance and Nifty can turn down from here. Today's range was 72 points and monthly range is 123 points till today.

Jul31 Update

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

1. Nifty down by 0.9% with 0.9 breadth.
2. 226th day since the lows of 5118, 119th day since the lows of 5933.

Nifty closed below 7750 and 7ema today.Todays range was 80 points and weekly range is 92 points till today. Nifty close below 7700 can be bearish for the short term, but if Nifty sustains 7700 level for 1-2 days then 7800 may be seen early next week.

Jul30 Update

Nifty tested lower 7700 levels and bounced back with high volumes and neutral breadth. Important points for today.

1. Nifty up by 0.55% with 0.9 breadth.
2. 225th day since the lows of 5118, 118th day since the lows of 5933.

Nifty took support at 7700+ levels and closed above 3ema today. Today range was 91 points and weekly range stands at 92 points with 2 days to go. Nifty has bounced off 7ema levels, indicates that new highs may come now if Nifty sustains above 3ema.  RBI day +-2/3 days, Nifty may hit its peak in this current move.

Jul28 Update

Nifty dropped below 7750 though with lower volumes and -ve breadth. Important points for today.

1. Nifty down by 0.5% with 0.5 breadth.
2. 224th day since the lows of 5118, 117th day since the lows of 5933.

Nifty tested just 7800 level and dropped to 7722 before recovering some ground. Today range was 77 points. Todays volume were low , indicating that fall is not supported by volumes. Nifty closed just above 7ema.If today's low is preserved(ie not breached on closing basis ) in this week, then next week could turn out to be bullish. But if Nifty drops below 7700 level, then it may be bearish or sideways move in short term.

Jul25 Update

Nifty gave up some gains with higher volumes and -ve breadth. Important points for today.

1. Nifty down by 0.5% with 0.33 breadth.
2. 223rd day since the lows of 5118, 116th day since the lows of 5933.

Nifty pullback form 7840 levels to test 7750 and close just below 7800 levels. Today range was 92 points and weekly range was 166 points. Nifty ended the week with a gain of  1.7% . Nifty's today bar has a long tail red bar, indicating bounce from 7750. Nifty may retest 7750 again. If Nifty gets up from there new highs may come else Nifty may be headed for deeper correction. 7700-7750 should be the main support. Strong divergence is there on hourly charts but daily chart looks ok, so Nifty may jump again from 7750 level is that is maintained. Monthly range stands at 418 points.

Jul24 Update

Nifty made a new high today with moderately high volumes and neutral breadth. Important points for today.

1. Nifty up by 0.45% with 1.0 breadth.
2. 222nd day since the lows of 5118, 115th day since the lows of 5933.

Nifty closed above 7800 level at all time closing high. Todays range was 64 points and weekly/monthly range stand at 161/413 points till today. Today was 8th consecutive up day of Nifty. Nifty has gone past 7808 by making its way thru rather than breakout.This implies that consolidation/correction should be there within further 100 or so points of Nifty.

Jul23 Update

Nifty made a new high Intraday and closed just below 7800 with higher volumes and -ve breadth. Important points for today.

1. Nifty up by 0.35% with 0.6 breadth.
2. 221st day since the lows of 5118, 114th day since the lows of 5933.

Nifty closed at all time highs today. Today was 7th consecutive up day and range was 57 points. Momentum seems to be waning. If Nifty goes past 7800 without a Dip, then not much upside is seen. 7650 keeps the upside alive for further new highs.

Jul22 Update

Nifty moved further up above 7750 level with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 1.1% with 0.95 breadth.
2. 220th day since the lows of 5118, 113th day since the lows of 5933.

Nifty was up for the 6th consecutive day and closed above 7750 level. Todays range was 69 points and weekly range stands at 99 points. Nifty is trying to make its way through resistance zone of 7750+. 7650 and 7550 are the 2 support levels for Nifty to support the upmove. Breach of these two levels may take Nifty to 7400-. Upside momentum in Nifty is not strong, so on breakout above 7800, 1-3% move may be possible.

Jul21 Update

Nifty opened gap up above 7700 level but closed below with moderate volumes and +ve breadth. Important points for today.

1. Nifty closed up 0.3% with 1.5 breadth.
2. 219th day since the lows of 5118, 112th day since the lows of 5933.

Nifty closed up for the 5th consecutive day. Nifty has not retraced the fall from 7808-7422 in faster time. 7700-7750/7800 is resistance zone of Nifty, if Nifty fails to cross 7750 then sharp fall can be expected . Staying above 7750 only, Nifty to make new highs. Todays range was 48 points.

Jul18 Update

Nifty was +ve today with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.3% with 0.8 breadth.
2. 218th day since the lows of 5118, 111th day since the lows of 5933.

Nifty closed up for the 4th consecutive day and above 7650. Today's range was 90 points and Weekly/Monthly range now stand at 263/386 points. Nifty closed the week with gain of 2.7%.  Around 7750 is the significant resistance level for Nifty. Nifty is bouncing off from ~7440 support level for 2nd time. Xover of 7750-7800 should make space for another 150-200 point rise in Nifty.

Jul17 Update

Nifty consolidated the gains of 2 days today with higher volumes and +ve breadth. Important points for today.

1. Nifty closed up 0.2% with 2.0 breadth.
2. 217th day since the lows of 5118, 110th day since the lows of 5933.

Nifty moved in a narrow range of 43 points and closed mildly in the green. Weekly range now stands at 223 points. Nifty stares at next significant resistance at 7700-7750 levels. Crossover of this resistance is possible only with strong momentum move. otherwise Nifty may not decisively go past 7800 level if  it muzzles its way past 7750.

Jul16 Update

Nifty moved up for 2nd consecutive day with moderately high volumes and +ve breadth. Important points for today.

1. Nifty up by 1.3% with 3.2 breadth.
2. 216th day since the lows of 5118, 109th day since the lows of 5933.

Nifty closed above 7600 levels today an ranged 108 points. Weekly/Monthly range stand at 218/386 points till today. Nifty has firmly crossed 7550 ie first resistance level. 7700-7750 is the next significant resistance above 7650 level. Unless Nifty crosses 7750 with a momentum move, Nifty may undergo selloff near 7700-7750 level. if Nifty makes a new high , it may not go beyond 7900-8000 level.

Jul14 Update

Nifty moved around 7450 with lower volumes and -ve breadth. Important points for the day.

1.Nifty down by 0.05% with 0.7 breadth.
2. 214th day since the lows of 5118, 107th day since the lows of 5933.

Nifty moved in 56 point range today and made a low below 7441 but closed above it. 7440 connects a trendline joining 6562 -6752. So @7440 , there is horizontal support as well as trendline support.If Nifty does not close below 7440 , then reversal may happen from here. On the contrary , breach may take Nifty towards 7200 level.Monthly range now stands at 386 points.

Jul11 Update

Nifty opened in green but slipped to retest sub 7450 towards the end. Important points for the day.

1. Nifty down by 1.45% with 0.16 breadth.
2. 213th day since the lows of 5118, 106th day since the lows of 5933.

Nifty retraced all the gains of last week and closed with a loss of 3.8% on weekly basis. 7500 level too ha been breached decisively. Any bounce that comes may be limited to 7650-7700 levels and that may be good shorting point. This fall may have some more way before it ends, though in short term, due to strong +ve divergence on hourly chart, bounce may happen soon. Weekly/Monthly range stand at 361 points till today

Jul10 Update

Nifty was very volatile with high volumes and +ve breadth. Important points for the day.

1. Nifty down by 0.25% with 1.9 breadth.
2. 212th day since the lows of 5118, 105th day since the lows of 5933.

Nifty's today range was 252 points. Nifty breached 7500 levels first then went to cross 7700 level and fell back again to close below 7600 levels. Closing in the red for the 3rd consecutive day. Nifty's short term correction seem to be done given the +ve divergence on hourly timeframe. Nifty may move towards 7800 level now. Any new highs above 7800 may be last move before a bigger correction in Nifty. 

Jul9 Update

Nifty moved around 7600 levels with high volumes and -ve breadth. Important points for today.

1. Nifty down by 0.5% with 0.25 breadth.
2. 211th days since the lows of 5118, 104th day since the lows of 5933.

Nifty moved further below 7600 level. Today Nifty took support at 7550 today. If this support holds tomorrow then Nifty may bounce sharply towards 7800 levels tomorrow. Around 1100AM  will be the inflection point for Nifty to take a directional move. 7200-7400 is the next support below 7500 level. Todays range was 99 points and weekly range stands at 257 points till today.

Jul8 Update

Nifty had a big selloff today with high volumes and -ve breadth. Important points for today.

1. Nifty down by 2.1% with 0.14 breadth.
2. 210th day since the lows of 5118, 103rd day since the lows of 5933.

Nifty opened above 7800 levels but started sliding after that to close below 7650 level. Todays range was 213 points. Weekly/Monthly range also stands at 213 points. 7500+ is a strong support zone of Nifty. Whether Nifty has reversed or just a 1/2 day correction will be known in next 2-3 days.

Jul7 Update

Nifty inched up towards 7800 level with higher volumes and neutral breadth. Important points for today.

1. Nifty up by 0.5% with 1.0 breadth.
2. 209th day since the lows of 5118, 102nd day since the lows of 5933.

Nifty moved in a range of 37 points and closed below 7800 levels. Nifty has stayed above 7700 levels for 4 days now. Around 7800 level is inflection point for Nifty and 7650 is immediate support and 7500 strong support level. Nifty exhibits divergence on daily scale. In Medium term Nifty is headed higher but short term could see deeper correction if 7650 gives away.

Jul3 Update

Nifty opened +ve but went sideways later with higher volumes and neutral breadth. Important points for today.

1. Nifty down by 0.15% with 0.7 breadth.
2.207th day since the lows of 5118, 100th day since the lows of 5933.

Nifty ended mildly in the red and closed above 7700 today for 2nd day. Nifty has not shown any breakout character after going above 7700 levels till now. If 1-2 days Nifty moves like this , then further upsides will be limited and Nifty may capitulate around 7800 or so. Todays range was 48 points and Weekly/Monthly range stands at 223/136 points.

Jul2 Update

Nifty made a new high above 7700 today with higher volumes and +ve breadth. Important points for today.

1. Nifty up by 1.2% with 1.75 breadth.
2. 206th day since the lows of 5118, 99th day since the lows of 5933.

Nifty closed above 7700 today. Todays range was 55 points though Nifty closed 91 points above yesterdays close. Upward momentum is waning in Nifty. 7650 is critical support level now. Low range intraday range alongwith upside movement in Nifty with waning momentum indicates that Nifty may topping in Short term  and may undergo good correction in coming days.

Jul1 Update

Nifty was ranged today with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 0.3% with 1.85 breadth.
2. 205th day since the lows of 5118, 98th day since the lows of 5933.

Nifty now testing the resistance zone around 7650+. Today's range was only 31 points. Unless Nifty gaps up above 7700 level and stays above to generate genuine breakout, Nifty may keep wandering between 7550-7700 till around budget waiting for a trigger to make a move. Without an impulsive move, any breach of 7700 is likely to face a retreat.

Jun30 Update

Nifty closed above 7600 level with higher volumes and +ve breadth. Important points for today.

1. Nifty up by 1.4% with 3.0 breadth.
2. 204th day since the lows of 5118, 97th day since the lows of 5933.

Nifty bounced past 7600 level today. If this bounce continues then Nifty should go past 7700 level in next 2-3 days. Nifty expected to remain +ve till Budget atleast. Todays range was 92 points and Monthly/Quarterly range ended at 461/1062 points.

Jun27 Update

Nifty traded in about 50 point range with moderate volumes and neutral breadth. Important points for today.


1. Nifty up by 0.2% with 1.15 breadth.
2. 203rd day since the lows of 5118, 96th day since the lows of 5933.

Nifty closed the week above 7500 but slightly in the red. This was 3rd consecutive down week of Nifty.Weekly range was 152 points. 7500 is acting as support of Nifty for 3rd time now. Bounce from here is expected from here early next week to 7700+ . Strength of Nifty above 7700 to determine further upmove. But if Nifty stays below 7500 next week then deeper cut to 7200-7300 may come by end of next week.

Jun25 Update

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

1. Nifty down by 0.15% with 1.17 breadth.
2. 201st day since the lows of 5118, 94th day since the lows of 5933.

Nifty traded in 32 point range and closed mildly in the red, but above 7550. if Nifty closed below 7550, then revisit to existing lows of 7441 may happen again. But the correction seems to be mild and breach of 7400 only would be indication of any serious correction setting in. Weekly range is 152 points till now.

Jun24 Update

Nifty bounced further above 7550 with higher  volumes and +ve breadth. Important points for today.

1. Nifty up by 1.2% with 3.0 breadth.
2. 200th day since the lows of 5118, 93rd day since the lows of 5933.

Nifty closed above 7550. Nifty has moved 152 points from yesterdays low of 7441. If Nifty retains 7500 level then new highs may happen, but fall below 7500 can Nifty to below 7441. Todays range was 78 points and weekly range stands at 152 points till today.

Jun23 Update

Nifty slipped below 7500/7450 with moderate volumes and neutral breadth. Important points for the day.

1.Nifty down by 0.25% with 1.0 breadth.
2. 199th day since the lows of 5118, 92nd day since the lows of 5933.

Nifty closed below 7500 today though it recovered most of losses towards the end. Downside seems to be waning and Nifty may reverse on upside in this week. But if Nifty fall below 7450 on closing basis then 7100-7200 may be seen within no time. Todays range was 93 points ie 1st day of week was high range , so this week may be high range week after two weeks on sub 200 range.

Jun20 Update

Nifty didn't do much today with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.4% with  0.6 breadth.
2. 98th day since the lows of 5118, 91st day since the lows of 5933.

Nifty ended 3rd consecutive day in red and  2nd consecutive weekly down. Nifty is going down but downside price momentum is not there. This implies Nifty may make a New high in an impulsive manner in coming days. A Medium term Top may be formed soon in Nifty. Weekly range was 176 points after 175 points in previous week. Monthly range stands at 461 points till this week.

Jun19 Update

Nifty attempted 7600+ levels a open but could not sustain and closed below 7550 with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 0.25% with 1.0 breadth.
2. 197th day since the lows of 5118, 90th day since the lows of 5933.

Nifty closed mildly in the red today below 7550 levels. 7600+ levels are acting as decent resistance to cross. Nifty has failed to cross 7650+ levels twice now. It may attempt again or if Nifty goes below 7500 then Nifty may be heading to lower levels of around 7200 then. Weekly range stands at 176 points till today.

Jun18 Update

Nifty squandered all the gains of yesterday from 7650+ and closed below 7600. Important points for the day.

1. Nifty down by 1.0% with 0.65 breadth.
2. 196th day since the lows of 5118, 89th day since the lows of 5933.

Nifty sold off from 7660+ levels and todays range stood at 148 points. 7500-7550 remains strong support on closing basis and 7650-7700 is resistance. Upside momentum in Nifty is waning and unless support breaks , Nifty likely to remain choppy in this range of 150-200 point range.

Jun17 Update

Nifty bounced strongly towards the end with higher volumes and +ve breadth. Important points for today.

1. Nifty up by 1.3% with 3.2 breadth.
2. 195th day since the lows of 5118, 88th day since the lows of 5933.

Nifty closed above 7600 today after taking support in the gap area of 7500- yesterday. Nifty likely to make new highs above 7700 now. If Nifty sustains momentum above 7700 then only strong upside may be considered for more gains, else if Nifty looses momentum at 7700+ then big correction in Nifty may set in. Weekly range is 150 points till today.

Jun16 Update

Nifty dipped below 7500 level but closed above it with higher volume and neutral breadth. Important points for today.

1. Nifty down by 0.1% with 1.0 breadth.
2. 194th day since the lows of 5118, 87th day since the lows of 5933.

Nifty closed mildly in the red. Nifty took support in the gap region at 7487 today. Todays range was 61 points and Nifty closed flat. Bounce from Gap area did not happen,and Nifty moved up from there to close flat. Close below 7500 will turn Nifty -ve, Else Nifty can bounce to new highs in this week.

Jun13 Update

Nifty broke down below 7600 with -ve breadth and higher volumes. Important points for today.

1. Nifty down by 1.5% with 0.33 breadth.
2. 193rd day since the lows of 5118, 86th day since the lows of 5933.

Nifty closed below 7550 today. Daily range was 153 points and Weekly range ended at 175 points and Monthly range stands at 461 points till today. Nifty closed below 7ema with this sharp fall. If Nifty stabilizes by Monday and moves up, then new highs above 7700 may happen in a sharp upmove. New highs above 7700 should be limited to 100-150 points ie around 7850.

Jun12 Update

Nifty recovered from the lows of sub 7600 levels and closed near 7650 with higher volumes and points of neutral breadth. Important points of the day.

1. Nifty up by 0.3% with 1.25 breadth.
2. 192nd day since the lows of 5118, 85th day since the lows of 5933.

Nifty remains in 7550-7700 point range. Outside this range Nifty may move by 150-200 points on range break.Today's range was 65 points and weekly range is 121 points till today.

Jun10 Update

Nifty moved sideways today in 100+ pt range with high volumes and neutral breadth. Important points for today.

1. Nifty flat with 1.0 breadth.
2. 190th day since the lows of 5118, 83rd day since the lows of 5933.

Nifty closed flat after dipping below 7600 early in the morning. Nifty may pause here if it remains above 7500-7550 zone. A Dip below that Zone, may indicate start of deeper correction.Monthly range now stands at 444 points till today.

Jun9 Update

Nifty scaled new highs with high volumes and +ve breadth. Important points for today.

1. Nifty up by 0.95% with 3.0 breadth.
2. 189th day since the lows of 5118, 82nd day since the lows of 5933.

Nifty closed at new highs today above 7600 levels. Today was 2nd consecutive close above May16 peak of 7563. Todays range was 93 points and Monthly range now stands at 434 points. Momentum in Nifty is good but slow right now. Surviving above 7550, Nifty may keep the upside momentum going.

Jun5 Update

Nifty rose above 7450 with higher volumes and +ve breadth. Important points for today.

1. Nifty up by 1.0% with 3.77 breadth.
2. 187th day since the lows of 5118, 80th day since the lows of 5933.

Nifty closed at all time highs today above 7450. Nifty remaining above 7350 levels, is in Bull territory and could see new highs .But if falls below 7350 then fall can be below 7200. Todays range was 124 points and Monthly range now stands at 245 points.

Jun3 Update

Nifty surpassed 7400 levels and closed above it with high volumes and +ve breadth. Important points for today.

1. Nifty closed up 0.7% with 1.65 breadth.
2. 185th day since the lows of 5118, 78th day since the lows of 5933.

Nifty closed above 7400 levels with a range of 82 points.Highest closing. Nifty is bumping into resistance zone near 7500 now. This will be the 3rd attempt of Nifty at 7500. Failure here could lead to fall below 7200 but if 7350 acts as support on fall from 7500+ then New highs may happen.Weekly/Monthly range stand at 185 points.

May30 Update

Nifty moved around 7200 levels with high volumes and neutral breadth. Important points for today.

1. Nifty down by 0.1% with 0.9 breadth.
2. 183rd day since the lows of 5118, 76th day since the lows of 5933.

Nifty closed down by 1.9% on weekly closing.Weekly range was 386 points and monthly range of May was 925 points. Quarterly range also stands at 925 points.7200 is good support of Nifty, which if breached should take Nifty down towards 7000 levels.

May29 Update

Nifty dropped down today below 7250 with higher volumes and -ve breadth. Important points for today.

1. Nifty down by 1.3% with 0.7 breadth.
2. 182n day since the lows of 5118, 75th day since the lows of 5933.

Nifty today broken down below the Monday swing low of 7269 and closed below it. 7200 is a good support of Nifty. Unless that is broken on daily closing basis, Nifty remains in uptrend.Weekly range till today stands at 280 points.

May27 Update

Nifty  was rangebound in 100 points with high volumes and -ve breadth. Important points for today.

1. Nifty down by 0.55% with 0.6 breadth.
2. 181st day since the lows of 5118, 74th day since the lows of 5933.

Nifty  closed in the red today but still above 7300. Yesterdays low was not breached, indicating 7200 will act as good support for Nifty. Nifty likely to retest 7200 in next coming days.Only a successful retest of 7200 can provide good momentum to Nifty to propel above 7500 level.

May26 Update

Nifty attempted 7500+ levels early morning but sold off from there to 7300- with heavy volumes and -ve breadth. Important points for today.

1. Nifty down by 0.1% with 0.53 breadth.
2. 180th day since the lows of 5118, 73rd day since the lows of 5933.

Nifty closed marginally in the red after heavy sell off of more than 200 points. If Nifty sustains 7200 level on closing basis, then 7500+ level may happen again and Nifty hit new highs.But if 7200 is breached, then Nifty may enter into intermediate term consolidation phase for coming weeks.

May23 Update

Nifty today made a +ve move above 7300 with high volumes and +ve breadth. Important points for today.

1. Nifty up by 1.3% with 2.5 breadth.
2. 179th day since the lows of 5118, 72nd day since the lows of 5933.

Nifty today closed above 7350 with good breadth. Nifty has broken out from small range around 7250. If momentum is sustained, Nifty should cross 7363 early next week, Any weakness above 7400 could see sharp reaction in Nifty towards 7000 levels. The week closed with a gain of 2.3% and range of 188 points. Monthly range remains at 925 points with 5 days to go.

May22 Update

Nifty was again rangebound in 61 point range with high volumes and +ve breadth. Important points for today.

1. Nifty up by 0.3% with 2.3 breadth.
2. 178th day since the low of 5118, 71st day since the lows of 5933..

Nifty closed above 7250 levels with daily range of 61 points. Weekly range till today stands at 160 points. 7150-7350 is the broad range for Nifty. For new highs above 7500, Nifty should take down support near 7100 levels. But if Nifty tries 7500+ levels before going down, then deeper correction may set in Nifty.

May21 Update

Nifty was wayward with high volumes and +ve breadth. Important points for today.

1. Nifty down by 0.3% with 3.7 breadth.
2. 177th day since the lows of 5118, 70th day since the lows of 5933.

Nifty closed in the red but above 7250. Breadth was quite +ve and todays range was 81 points. Nifty has closed above 7200 for 4 days in a row now. 7200 was important resistance of Nifty. So if Nifty survives 7200+ level for another 1-2 days  on closing basis, then 7500+ levels could be seen in Nifty by next week.

May20 Update

Nifty ended marginally up after opening gap up amid high volumes and +ve breadth. Important points for today.

1. Nifty up by 0.2% with 3.6 breadth.
2.176th day since the lows of 5118, 69th day since the lows of 5933.

Nifty closed in the green with new high on RSI. After hitting high of 7563 on 16thmay, Nifty is drifting in 150-200  point range of 7150-7350 now. Nifty may retest 7500+ level in next 1-2 days ,else it my go down to ~7000 levels by end of this week. Weekly range now stands at 160 points.

May19 Update

Nifty moved in a 100 point range with high volumes and +ve breadth. Important points for today.

1. Nifty up by 0.82% with 5.0 breadth.
2. 175th day since the lows of 5118, 68th day since the lows of 5933.

Nifty closed above 7250 today.Friday was 13th week since the lows of 5933 and today was 8th day from 6638. Todays range was 98 points. Nifty may be entering into pause/consolidation for now, if it remains above or around 3/7ema. if s sharp dip is there to 7000 or below, Nifty may also give a bounce to retest highs of 7563 again. 

May15 Update

Nifty was again rangebound today amid high volumes and -ve breadth. Important points for today.

1. Nifty up by 0.2% with 0.55 breadth.
2. 173rd day since the lows of 5118, 66th day since the lows of 5933.

Nifty closed mildly +ve and moved in 70 point range. last 2 days were inside days of Nifty, only indicating that further upside in Nifty are to come. ~7200 is trendline resistance for Nifty and 7020 is the gap support for Nifty. 7000-7300 is the range for Nifty tomorrow.A strong event could push Nifty further beyond 7300 but surviving above 7300 may be difficult unless momentum is very strong..Weekly/Monthly range stands at 310/520 points till today.

May14 Update

Nifty paused today and moved around 7100 with high volumes and +ve breadth. Important points for today.

1. Nifty flat with 1.7 breadth.
2. 172nd day since the lows of 5118, 65th day since the lows of 5933.

Nifty closed flat today above 7100 level. Today was an inside day and range was 62 points. Weekly/Monthly range stands at 310/520 points. Nifty remains in strong upside momentum and 7150-7200 is trendline resistance line joining 6142-6342. Moved beyond this line could be a momentum move.

May13 Update

Nifty continues its surge with heavy volumes and +ve breadth. Important points for today.

1. Nifty up by 1.35% with 1.7 breadth.
2. 171st day since the lows of 5118, 64th day since the lows of 5933.

Nifty closed above 7100 levels today, having moved 8% from recent lows of 6638 in 3 days. Todays range was 105 points and Weekly/Monthly range stands at 310/520 points. 7150-7200 is trendline resistance of Nifty and cross of that could induce further momentum in Nifty. Todays gap at 7021 will provide good support to Nifty incase of a dip.

May12 Update

1. Nifty up by 2.5% with 1.0 breadth.
2. 170th day since the lows of 5118, 63rd day since the lows of 5933.

Nifty closed above 7000 levels today and had range of 158 points.In 2 days , Nifty has moved about 5.7% from 6638. Nifty is in strong momentum and likely to continue its upward run till momentum weakens. Monthly range stands at 382 points as of today.

May9 Update

Nifty powered by big with high volumes and +ve breadth. Important points for today.

1. Nifty up by 3.0% with 1.6 breadth.
2. 169th day since the lows of 5118, 62nd day since the lows of 5933.

Nifty closed at all time high above 6850. Todays range was 219 points,same as the monthly range of April.6950-7150-7350 are the next resistance level of Nifty. Nifty has regained its upward trend after many days of sideways consolidation in 200 point range. Momentum moves may be seen now.

May8 Update

Nifty moved in 50 points range below 6700 amid moderate volumes and -ve breadth. Important points for today.

1. Nifty up by 0.1% with 0.75 breadth.
2. 168th day since the lows of 5118, 61st day since the lows of 5933.

Nifty closed almost flat while moving in a narrow range of 50 points. Todays range was 50 points and weekly range now stands at 105 points. Nifty though weak but downside momentum is weak and 6600-6650 is good support zone of Nifty. 6750 is important resistance level of Nifty and unless Nifty closes above 6750, Nifty may go further low. Quarterly range now stands at 231 points.

May7 Update

Nifty today broke below 6650 amid moderate volumes and -ve breadth. Important points for today.

1.Nifty down by 0.95% with 0.7 breadth.
2. 167th day since the lows of 5118, 60th day since the lows of 5933.

Nifty today closed just above 6650 level. Todays range was 76 points and Weekly range stands at 101 points.Nifty broke the earlier swing low of 6650. Inspite of allround Red, Nifty barely closed down by ~ 1% . This indicates that 6600-6650 being strong support may not be broken decisively and chances of Jump from here are there.

May6 Update

Nifty again had a silent directionless day with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.25% with 1.0 breadth.
2. 166th day since the lows of 5118, 59th day since the lows of 5933.

Nifty closed above 6700 today and had a range of 42 points. Weekly/Monthly range till today stands at 63 points. 6650-6750 is the current range of Nifty. Only a move beyond these points, will open further directional move.

May5 Update

Nifty moved up to 6740 level but gave up the gains amid moderate volumes and -ve breadth. Important points for today.

1. Nifty up by 0.1% with 0.7 breadth.
2. 165th day since the lows of 5118, 58th day since the lows of 5933.

Nifty again closed flat today. Nifty closing within 20 points since last 4 days. 6650 is a good support now and 6850 is the resistance. Breach of wither level could see 150-200 pt move in that direction. Todays range was 61 points and Quarterly range remains at 219 points till today. Quarterly range expansion is likely to add atleast 400-500 points in this month. 

May2 Update

Nifty moved around 6700 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty flat with 1.0 breadth.
2. 164th day since the lows of 5118, 57th day since the lows of 5933.

Nifty closed flat and moved in a range of 48 points. Quarterly range till now stands at 219 points. On weekly , Nifty closed down by 1.3%. Daily RSI points to a short term correction going on in Nifty and new impulsive high likely in coming days.

Apr30 Update

Nifty opened in the green but broke down below 6700 with higher volumes and -ve breadth. Important points for today.

1. Nifty down by 0.3% with 0.36 breadth.
2. 163rd day since the lows of 5118, 56th day since the lows of 5933.

Nifty closed below 6700 today with a range of 124 points. Monthly range ended at 219 points.If Nifty dips below 6650, then 6550 will be the next support level for Nifty but if 6650 is not breached then new highs may happen above 6870 levels.

Apr29 Update

Nifty slipped further down amid moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.7% with 1.9 breadth.
2. 162nd day since the lows of 5118, 55th day since the lows of 5933.

Nifty closed below 6750 today. Momentum has tuned down unless Nifty manages to close above 6750. Today's range was 71 points and Monthly range remains at 219 points with 1 day to go. 6600 -6650 is good support level of Nifty if 6700 is breached.

Apr28 Update

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

1. Nifty down by 0.3% with 1.0 breadth.
2. 161st day since the lows of 5118, 54th day since the lows of 5933.

Nifty closed down while moving in a narrow range of 36 points. If Nifty moves above 6800 and sustains then 6950 on Nifty could seen soon in this week. 6600-6650 is strong support zone if Nifty goes under 6700 level. Monthly range is 219 points with 2 days to go. Monthly range expansion is likely to happen in next 2 days ie 6650 Or 6869 is likely to give away.

Apr25 Update

Nifty broke down below 6800 with higher volumes and -ve breadth. Important points for today.


1. Nifty down by 0.85% with 0.63 breadth.
2. 160th day since the lows of 5118, 53rd day since the lows of 5933.

Nifty closed below 6800 and moved in a range of 97 points. Weekly range for this week stood at 97 points and Monthly range stands at 219 points. 6750 is a strong trendline support. If Nifty doesnot breach 6750 in next 2 days then, Nifty may move up sharply higher in this week. Nifty has closed flat on weekly basis for 3 consecutive weeks.

Apr23 Update

Nifty moved further up with higher volumes and neutral breadth. Important points for today.

1. Nifty moved up by 0.4% with 1.0 breadth.
2. 159th day since the lows of 5118, 52nd day since the lows of 5933.


Nifty moved towards 6850 though closed below it. Todays range was 41 points and weekly/Monthly range now stands at 75/211 points. Nifty is likely to expand further its monthly range by around 100 points in next 4 days left. upside expansion looks more likely from here. 

Apr22 Update

Nifty closed above 6800 for 2nd consecutive day. Important points for today.

1. Nifty flat with 1.0 breadth.
2. 158th day since the lows of 5118, 51st day from lows of 5933.

Nifty moved in a narrow range of 32 points with moderate volumes and closed above 6800 today. Nifty lacks the momentum for a big move upward, so unless Nifty takes support around 6750 and starts a new upmove, such low range upmove may continue. After today , Monthly range now stands at 188 points.

Apr21 Update

Nifty closed above 6800 level with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 0.55% with 2.2 breadth.
2. 157th day since the lows of 518, 50th day since the lows of 5933.

Nifty continued its upmove and closed above 6800 level. Nifty trading above 6750 level is signals for a big push on the upside. 6750 is the channel resistance of 27month rising trendline. Nifty has closed above 6750 for 2 weeks now. Faster run on upside may be seen soon, if Nifty trades above 6750 level. Monthly range stands at 175 points till today.

Apr17 Update

Nifty bounced strongly to close above 6750 with higher volumes and +ve breadth. Important points for today.

1. Nifty up by 1.5% with 2.25 breadth.
2. 156th day since the lows of 5118, 49th day since the lows of 5933.

Nifty again bounced from around 6650 levels to close near 6800 levels. If Nifty closes above 6800 levels and sustains then higher levels may come without any correction  but 6800 is a resistance and correction may set in from here for 6650- levels also.  Weekly range was 148 points and Monthly range till now is 169 points. Monthly range is expected to expand in remaining 7 days in either direction.

Apr16 Update

Nifty dropped down below 6700 today with higher volumes and -ve breadth. Important points for today.

1. Nifty down by 0.9% with 0.45 breadth.
2. 155th day since the lows of 5118, 48th day since the lows of 5933.

Nifty closed below 6700 today with moderately high volumes. Today range was 83 points and weekly range stands at 148 points. Nifty is in short term downtrend and support exists in 6500-6600 zone. Any bounce from here will face resistance at 6750. Monthly range is at 169 points (6650-6819).  

Apr15 Update

Nifty dropped down below 6750 with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.6% with 0.7 breadth.
2. 154th day since the lows of 5118, 47th day since the lows of 5933.

Nifty tested lower 6700 levels today. 6650-6850 is the broad range for Nifty currently. Todays range was 102 points.  Nifty may move in this range for some more days before taking a upmove for 7000+ levels. This is 9th week from 5933.

Apr11 Update

Nifty opened gap down and traded in the red with higher volumes and neutral breadth. Important points for today.

1. Nifty down by 0.3% with 1.2 breadth.
2. 153rd day since the lows of 5118, 46th day since the lows of 5933.


Nifty closed in the red today but on weekly closing ended with gain of 1.2%. Nifty closed above 6750 that is 27month old trendline resistance. Closing above it is bullish sign.Nifty is headed for higher levels now , 6950-7150 in coming days. 6900-6950 may trigger some pullback in Nifty. Todays range was 46 points and weekly/monthly range was 169 points.

Apr10 Update

Nifty was sideways today and moved around 6800 with high volumes and neutral breadth. Important points for today.

1. Nifty flat with 1.3 breadth.
2. 152nd day since the lows of 5118, 45th day since the lows of 5933.

Nifty ended the day flat, moving in a narrow range of 42 points and very high volumes. Nifty momentum remains +ve though it is weakening with every rise. Unless Nifty closes below 7ema, upmove to continue. Weekly/Monthly range stands at 169 points.

Apr9 Update

Nifty went pas 6800 today with high volumes and +ve breadth. Important points for today.

1. Nifty up by 1.5% with 2.9 breadth.
2. 151st day since the lows of 5118, 102nd day since the highs of 6342, 79th day since the highs of 6415, 44th day since the lows of 5933.

Nifty broke above the previous highs of 6776 and closed above it. 6750 was trendline resistance and Nifty has broken it decisively now. Next significant resistance is now at 7050-7100. If Nifty closes above 6750 on weekly closing then, 7000+ could be seen in next 2-3 weeks. Today range was 103 points and Weekly/Monthly range stands at 158 points.

Apr3 Update

Nifty opened gap up but slipped later amid high volumes and -ve breadth. Important points for today.

1. Nifty down by 0.25% with 0.75 breadth.
2. 148th day since the lows of 5118, 99th day since the highs of 6342, 76th day since the highs of 6415.

Nifty closed in the red today. Persistent divergence on hourly chart resulted in hourly correction in Nifty. Above 6675 levels, Nifty remains in uptrend. If 6675 is retained till Monday, 6800+ could be seen in Nifty by next week. Big upmove now looks less likely until Nifty undergoes deeper correction of 6500-. Today range and weekly range stands at 77/114 points.

Apr2 Update

Nifty staged a late comeback after opening higher amid high volumes and +ve breadth. Important points for today.

1. Nifty up by 0.5% with 2.6 breadth.
2. 147th day since the lows of 5118, 98th day since the highs of 6342, 75th day since the highs of 6415.

Nifty  opened above 6750 but traded below it thereafter inching up only towards the end.Todays range was 40 points and weekly range stands at 101 points. RSI momentum closed at new 27 month highs indicating that further highs to happen in coming days. Whether Nifty breaksout  big from here Or keep nudging up are the two probable options. Momentum stocks are good way to ride the momentum in coming days/week.

Apr1 Update

Nifty wavered around 6700 again and closed above 6700 with moderately high volumes and +ve breadth. Important points for today.

1. Nifty up by 0.25% with 1.4 breadth.
2. 146th day since the lows of 5118, 97th day since the highs of 6342, 74th day since the highs of 6415.

Nifty closed mildly in the green. Todays range was 57 points . 6630-6650 is support which if held, Nifty can see higher levels but if broken then 6560-6500 levels could follow. Nifty is showing divergence on hourly chart indicating that even if there is upmove , Nifty could fizzle out soon. Daily momentum is strong , so this rally is likely to continue even if there is correction for few days.

Mar31 Update

Nifty moved around 6700 amid higher volumes and +ve breadth. Important points for today.

1. Nifty up by 0.1% with 2.35 breadth.
2. 145th day since the lows of 5118, 96th day since the highs of 6342, 73rd day since the highs of 6415.

Nifty closed above 6700 today after waving up/down of 6700. 6730-6750 is a strong trendline resistance of Nifty. March month ended with a range of 518 points and Quarterly range was 797 points. Today range was 68 points. 6750 resistance can be crossed thru strong momentum only and if Nifty not able to go past it, then retest of 6300 zone will happen. Tomorrow is RBI day and Nifty has chance to climb the resistance level.7000-7050 will be next resistance for Nifty if it crosses 6750 with volumes.

Mar27 Update

Nifty made good gains today with high volumes and +ve breadth. Important points for today.

1. Nifty up by 0.6% with 1.5 breadth.
2. 143rd day since the lows of 5118, 94th day since the highs of 6342, 71st day since the highs of 6415.

Nifty went past 6650 but closed below it. Todays range was 74 points and Weekly/Monthly/Quarterly range now stands at 163/461/740 points. Nifty is showing big divergence on hourly charts, but not on daily charts. Also it is touching the trendline resistance now at ~6640 joining 6342-6415. So daily correction may happen now for next few days before a new impulsive move begins. Total rally from 5933 is 740 points. So I expect around 0.75x740 ~555 pints over next few days. Nifty is yet to confirm whether correction has begun, so further upmove may happen but 6700-6730 should be good resistance. 

Mar25 Update

Nifty sustained yesterdays game without doing much with moderately high volumes and neutral breadth. Important points for today.

1. Nifty up by 0.1% with 0.8 breadth.
2. 142nd day since the lows of 5118, 93rd day since the highs of 6342, 70th day since the highs of 6415.

Nifty moved in 51 points range of 6544-6595 and closed mildly in the green. Nifty is forming a 142 point triangle wihout breakout points @6500 and 6600, so breakout on either side is expected to see 150 point move to either 6750 Or 6350 soon. Weekly/Monthly range now stand at 85/383 points. 4 days to go in this month and 2 days to expiry.

Mar24 Update

Nifty crossed the previous highs and close above them with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 1.4% with 0.9 breadth.
2. 141st day since the lows of 5118, 92nd day since the highs of 6342, 69th day since the highs of 6415, 34th day since the lows of 5933.

Nifty closed above previous week high of 6574. Nifty has given a mini breakout here, and it should tread higher till about 6650 levels soon, Now if Nifty slides back to 6500- level then deeper correction may begin in Nifty. 6650-6700 is rising trendline resistance likely to produce deeper correction. Todays range was 81 points and Monthly/Quarterly range now stands at 379/658 points.

Mar21 Update

Nifty remains stuck in small range around 6500 with higher volumes and +ve breadth. Important points for today.

1. Nifty up by 0.15% with 1.45 breadth.
2. 140th day since the lows of 5118, 91st day since the highs of 6342, 68th day since the highs of 6415.

Nifty traded in 37 point range and closed +ve but below 6500 level. Weekly range is 101 points till today.Nifty is stuck in 6433-6574 range since about 2 weeks now. Nifty closed at  lower of 3/7 ema yesterday but bounce was not there today though breadth was +ve. 6575 Or 6433 will give in soon. Monthly/Quarterly range is 362/641 points till today.

Mar20 Update

Nifty traded around 6500 before dipping below yesterdays low with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.65% with 0.63 breadth.
2. 139th day since the lows of 5118, 90th day since the highs of 6342, 67th day since the highs of 6415.

Nifty closed below 6500 today though volume was less today. Nifty trades in sideways range after upmove of 350 points in 1st week of march. So this sideways move should resolve itself on upside with possible upside of about 100-150 points from 6560. This week's range is 101 points till today. Nifty's upside momentum is waning and any weak upmove may be concluding move of the rally from  5933/5984!!

Mar19 Update

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

1. Nifty up by 0.1% with 1.0 breadth.
2. 138th day since the lows of 5118, 89th day since the highs of 6342, 66th day since the highs of 6415.

Nifty closed almost flat moving within a range of 35 points today. Weekly/Monthly range is 77/350 points till today. Today was a narrow range day. 6430-6560 is the current range of Nifty , break on either side can give around 100 points quickly. 6650-6700 is trendline resistance of Nifty connecting 5630-6110-6229 (highs of 2012-2013). On Lower side 6300-6350 will be good support for Nifty.

Mar14 Update

Nifty dropped further below 6450 but bounced back with moderate volumes and -ve breadth. Important points for today.

1. Nifty up by 0.2% with 0.7 breadth.
2. 136th day since the lows of 5118, 88th day since the highs of 6342, 64th day since the highs of 6415.

Nifty found support at lower 6400 levels to bounce back above 6500. Todays range was 86 points and Weekly/Monthly range stands at 130/350 points. After previous week range of 325 points , this week has compressed a lot at only 130 points. Nifty trades at above 6400 level since 7 days but after breakout, momentum above 6500  is not seen.Daily momentum remains positive and new highs above 6562 should be seen early next week.

Ma13 Update

Nifty again tested 6560 levels and fell down to below 6500 with moderately high volumes and -ve breadth. Important points for today.

1. Nifty down by 0.4% with 0.7 breadth.
2. 135th day since the lows of 5118, 87th day since the highs of 6342, 63rd day since the lows of 6415.

Nifty closed below 6500 today and broke the 3 day support level of 6487.  Nifty's move in last 4 days of this week is consolidation of the breakout above 6350 and is rangebound in 75-80 points Todays range was 85 points and weekly range stands at 86 points. Tomorrow is weekly closing and interesting to see Whether Nifty closes Flat or attempts higher level on weekly closing basis.

Mar12 Update

Nifty moved in about yesterdays range with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.1% with 0.9 breadth.
2. 134th day since the lows of 5118, 86th day since the highs of 6342, 62nd day since the highs of 6415.

Nifty closed almost flat moving in the range of 6487-6546. Nifty remains in 75 point range in 3 days of this week(6487-6562). Breach on either side should see Nifty scaling another atleast 50 points. Monthly/Quarterly range remain at 350/629 points.

Mar11 Update

Nifty edged lower today with higher volumes and -ve breadth. Important points for today.

1. Nifty down by 0.4% with 0.7 breadth.
2. 133rd day since the lows of 5118, 85th day since the highs of 6342, 61st day since the highs of 6415.

Nifty traded in 68 point range and closed just above 6500 level. 6465-6490 should provide  support to Nifty for bounceback. Further lower support exists at 6406/6355/6336. Hourly TF RSI indicates that Nifty may bounce to make a new high before touching lower supports. Weekly/Monthly range remain at 75/350 points.

Mar10 Update

Nifty moved about 6550 with high volumes and neutral breadth. Important points for today.

1. Nifty up by 0.2% with 1.2 breadth.
2. 132nd day since the lows of 5118, 84th day since the highs of 6342,60th day since the highs of 6415.

Nifty closed above 6500 for the 2nd consecutive day. Hourly chart shows divergence indicating that after 6550-6600, Nifty  could see pullback. There are 2 gaps @6336 and @6406 that will be filled shortly by Nifty. Todays range was 75 points and Monthly range is 350 points till today.

Mar7 Update

Nifty had a big blast above 6500 with high volumes and neutral breadth. Important points for today.

1. Nifty up by 2.0% with 1.0 breadth.
2. 131st day since the lows of 5118,  83rd day since the highs of 6342, 59th day since the highs of 6415.

Nifty closed above 6500 with very high volumes. Today was 23rd day since lows of 5933. Weekly range was 325 and Monthly/Quarterly range stands at 325/604 points as of today. Nifty has broken out above 6350 decisively but the move from 5933 is slower than last impulsive downmove from 6355-5933. If breakout is genuine and strong, then 6350-6400 should be strong support and Nifty should seek further higher levels before seeking support at 6350 level. But if Nifty comes down to take support at 6350 level, then I would doubt the sustainability of this upmove beyond few hundred points more.Lets see. 

Mar6 Update

Nifty surpassed 6360 level today with higher volumes and +ve breadth. Important points for today.

1. Nifty up by 1.15%  with 2.2 breadth.
2. 130th day since the lows of 5118, 82nd day since the highs of 6342, 58th day since the highs of 6415.

Nifty closed above 6400 level today, highest ever closing. Fast rise could happen now and next significant resistance comes in at 6550-6600 levels now. Todays range was 67 points and weekly range is 194 points and Quarterly range is 473 points.Nifty has given breakout on upside, so further new highs are likely.

Mar5 Update

Nifty today moved further up with moderate volumes and _ve breadth. Important points for today.

1. Nifty up by 0.5% with 1.4 breadth.
2. 129th day since the lows of 5118, 81st day since the highs of 6342, 57th day since the highs of 6415.

Nifty closed above 6300 level today with range of 49 points. Weekly/Monthly range now stands at 124 points.Today was 22nd day since the lows of 5933. Nifty has almost retraced the fall from 6355-5933. Since the rise is slow, so only strength above 6350 will indicate bullish behaviour and ~6350 is resistance point from where Nifty has resisted 4 times in last 4 months. On bearish note, If Nifty falls and closes below 6200, then futher fall may happen.

Mar3 Update

Nifty dropped down today with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.9% with 0.7 breadth.
2. 127th day since the lows of 5118, 79th day since the highs of 6342,55th day since the highs of 6415.

Nifty didn't cross friday's high and slipped down below 6250 levels. The move from 5933 seems over now and a new impulsive downmove may have started with target of ~5700 in March. Breach of 6070 should confirm that 5933 will be breached. Today's range was 65 points and Quarterly range stands at 425 points till today.

Feb28 Update

Nifty went further up and closed above gap of 6263 with high volumes and neutral breadth. Important points for today.

1. Nifty up by 0.6% with 1.0 breadth.
2. 126th day since the lows of 5118, 78th day since the highs of 6342,54th day since the highs of 6415.

Nifty closed the gap @6263 level. Volumes were quite heavy but corresponding Price action was not supportive. This is a topping sign. Weekly range was 152 points and Monthly range was 349 points. The rise from 5933 is a slow upmove ,so retest of previous low @5933 may happen soon. Incase Nifty retains ~6050 levels then higher levels or sideways move between 6400-6000 may happen for some more time. But if 6000 breaks, Nifty may see 5800 levels quickly.

Feb26 Update

Nifty moved upwards from 6200 levels with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.6% with 0.95 breadth.
2. 125th day since the lows of 5118, 77th day since the highs of 6342.

Nifty moved towards 6250 further closing the gap that now exists between 6263-6245.Its 3 days now that Nifty is inching up in the gap region.Todays range was 43 points and Weekly/Monthly range stand at 115/312 points with 1 day to go. Nifty is likely to undergo correction form here around 6250 levels. Quarterly range till now is 425 points. So March month should see Quarter range atleast in 600-700 range and that implies, 5933-250 OR 6358+250 (5700/6600) to happen in March.

Feb25 Update

Nifty opened up above 6200 but was rangebound with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.2% with 0.9 breadth.
2. 124th day since the lows of 5118, 76th day since the highs of 6342.

Nifty closed at 6200 levels. 6200+ level is giving tough resistance to Nifty. Gap exists @6263, beyond which only Nifty becomes stronger. Todays range was 40 points and Weekly/Monthly range stands at 86/283 points. Rise from 5933 looks corrective in nature being quite slow compared to fall from 6355-5933. End of this rally from 5933 could retest the lows of 5933 again

Feb24 Update

Nifty broke above 6160 decisively and closed just below 6200 levels with lower volumes and neutral breadth. Important points for today.

1. Nifty up by 0.5% with 1.0  breadth.
2. 123rd day since the lows of 5118, 75th day since the highs of 6342.

Nifty has bounced by more than 100 points from 6086 levels. Todays high was 6191, so Nifty is right now in the gap resistance of 6190-6263.  Falling trendline resistance is around 6240. Todays range was 61 points and Monthly range now stands at 258 points with 3 days to go. Interesting to see How Nifty negotiates resistance at 6230-6260 . If able to survive here than Nifty may go past 6350 decisively this time. 

Feb21 Update

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

1. Nifty up by 1.1% with 1.5 breadth.
2. 122nd day since the lows of 5118, 74th day since the highs of 6342.

Nifty closed above 6150 today. 6086 provided support to Nifty for bounce back. Nifty is now headed into 6190-6260 level. This level is significant resistance. Nifty if crosses 6300 level, will attempt new highs above 6400, Else it could retest 5950 levels again. Weekly/Monthly range stand at 122/227 points till today.

Feb20 Update

Nifty opened down and kept sliding all day amid lower volumes and -ve breadth. Important points for today.

1. Nifty down by 1.0% with 0.65 breadth.
2. 121st day since the lows of 5118, 73rd day since the highs of 6342.

Nifty closed below 6100 today getting resisted at 6160. 6050+ should be support zone of Nifty and if Nifty falls below 6025 then 5950- levels could happen soon.But if 6050 is retained then Nifty may attempt 6200+ in a swift move. Todays range was 43 points and Weekly/Monthly range stands at 122/227 points.