Jan30 Update

Nifty slid further below 6150 with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.8% with 0.31 breadth.
2. 106th day since the lows of 5118, 58th day since the highs of 6342.

Nifty opened gap down and kept sliding down but managed to recover some ground towards the end and closed near the highs of the day. Nifty has created 2 gaps in its fall from 6355 , @6263-6188 and @6109-6083. These gaps will provide resistance on any pullback of Nifty.Today range was 57 points and Weekly/Monthly range stands at 161/331 points. Today's late pullback in Nifty may extend further and if sustains above 6140 level may target 6200+ then. 5972 is critical point of Nifty, if broken then Nifty should see 5900- levels soon. 5750-5850 is strong support zone and Nifty may not break this zone easily. Sustaining above 6250 levels will indicate any bullish strength in Nifty. The move from 6342 though appears to be a sideways move between 6000-6400 after upmove from 5118-6342.

Jan29 Update

Nifty moved in 61 point range with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 0.1% with 0.87 breadth.
2. 105th day since the lows of 5118, 57th day since the highs of 6342.

Nifty traded  in the green most of time but closed in the red towards the end.Todays range was 61 points and Weekly/Monthly range stands at 103/273 points till today. January has turned out to be tepid month this year. Nifty is in short term downtrend. +ve divergences are showing up now, and bounce upto 6200-6250 may happen in 1-2 days.

Jan28 Update

Nifty broke 6100 levels but recovered with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 0.15% with 1.0 breadth.
2. 104th day since the lows of 5118, 56th day since the highs of 6342.

Nifty tested 6100 levels and dipped below it but closed above 6100 levels. It broke the lows of December of 6129 and closed below it.Todays range was 78 points and Weekly/Monthly range now stands at 103/273 points. Bull scenario is possible only on a close above 6200 levels. Right Now Nifty is showing +ve divergence and bounce is very likely. Gap exists @6262-6188 , gap test is likely to happen before expiry.

Jan27 Update

Nifty opened gap down below 6200 and closed deep in the red with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 2.1% with 0.18 breadth.
2. 103rd day since the lows of 5118, 55 days since the Diwali highs of 6342.

Nifty closed below the previous swing low of 6139. Nifty has breached the trendline support @6180 and is just at Nov low of 6129. Decisive breach of this level will take it to 6000 levels. Todays range was 58 points While monthly range after today stands at 228 points. Monthly range expanded today on downside. Only if Nifty closes above 6200 in next 1-2 days , will possibility of 6400+ remain open in coming days. Else lows below 6000 could happen if Nifty sustains breach of 6150.

Jan24 Update

Nifty dropped below 6300 today with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 1.25% with 0.3 breadth.
2. 102nd day since the lows of 5118, 79th day since the lows of 5700.

Nifty opened gap down and closed below 6300 today. Todays range was 68 points. Nifty got resisted at 6350 again. This was 5th time Nifty tested 6350 level in last 3 months. The previous corrections from 6350 test have been shallow of the order of 5-6% and getting smaller. 6250 is good support of Nifty. Below 6250 is 6150 support from where Nifty has bounced 3 times. So Biaswise Nifty has support on downside while going above 6350 requires some momentum to cross resistance @6350. Trendline resistance of Nifty now sands at 6500-6600 and is a strong one. Weekly/Monthly range was at 112/219 points till today with 5 days to go in this month.  

Jan23 Update

Nifty surpassed 6350 again but closed below it amid narrow range and moderate volumes. Important points for today.

1. Nifty up by 0.1% with 0.75 breadth.
2. 101st day since the lows of 5118, 78th day since the lows of 5700.

Nifty moved in narrow range and closed mildly in the green. Today range was 39 points. Nifty has closed above 6300 , 4 days in a row though range is narrow. Nifty is attempting 6350 level 3rd time in last 3 months. This resistance is likely diluted now in 3rd attempt as Nifty is surviving above 6300 levels now. Weekly/Monthly range stand at 112/219 points till today with 6 days to go in this month.

Jan22 Update

Nifty attempted 6350 level with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.4% with 1.15 breadth.
2. 100th day since the lows of 5118, 77th day since the lows of 5700.

Nifty moved in a range of 62 points and closed below 6350 level. Nifty has bullish bias now and next significant resistance after 6350 is 6450-6600 range. 100 point jump from 6350 to 6450 may happen in a  sharp move. Weekly/Monthly range is 106/219 points with 7 days to go in this month.Upside range expansion(6358+) is now likely in next few days.

Jan21 Update

Nifty was sideways in narrow range amid moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.15% with 1.0 breadth.
2. 99th day since the lows of 5118, 76th day since the lows of 5700.

Nifty didn't do much all day , moving in a range of 33 points. Nifty has +ve momentum and sustained the gains scored yesterday. If 6300 is preserved for another day, then 6400+ could be seen in this week itself. Weekly/Monthly range stands at 87/219 points.

Jan20 Update

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

1. Nifty up by 0.7% with 1.2 breadth.
2. 98th day since the lows of 5118, 75th day since the lows of 5700.

Nifty bounced towards mid morning and retained its gain till closing to close above 6300 levels. If Nifty sustains todays gain for next 2 days then new highs are likely to happen in this week above 6450. Todays range was 64 points, While Monthly range stands at 219 points till today.

Jan17 Update

Nifty had mini selloff today with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.9% with 0.33 breadth.
2. 97th day since the lows of 5118, 74th day since the lows of 5700.

Nifty closed below 6300 today and range was 81 points. Nifty closed up by 1.5% on weekly basis. Weekly/Monthly range was 157/219 points. Weekly range for last 4 weeks have been 65-187-100-157 points. Monthly range expansion is likely in next 2 weeks, so 6139/6358 is likely to be breached. 100-200 points in the direction of breach may happen sharply after breach. so 5950/6550 levels may be seen in this month.

Jan16 Update

1. Nifty flat with 0.64 breadth.
2. 96th day since the lows of 5118, 73rd day since the lows of 5700.

Nifty attempted to go higher above 6350 but could not sustain and closed flat. Todays range was 47 points and weekly range is 157 points. 6250-6350 is the current range of Nifty for now with upward bias. Closing beyond these points will create tradeable moves. Monthly range stands at 219 points (6139-6358). It is likely to expand in coming days.

Jan15 Update

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

1. Nifty closed up 1.3% with 1.1 breadth.
2. 95th day since the lows of 5118, 72nd day since the lows of 5700.

Nifty closed above 6300 levels today. Todays range was 60 points. Weekly/Monthly range now stand at 136/219 points. Nifty closed exactly at the downsloping trendline joining 6415-6358. 6330-6350 is the last hurdle before Nifty attempts new high. Any reversal from here could take Nifty to 6230-6250 region. 

Jan14 Update

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

1. Nifty down by 0.5% with 0.71 breadth.
2. 94th day since the lows of 5118, 71st day since the lows of 5700.

Nifty closed below 6250 after big jump of yesterday. Closing was still above last week's high. 6220-6240 is region of support , if Nifty fails this then retest of 6150 may come soon. But if Nifty retains this support zone for next 1-2 days then 6300+ levels are likely. 6300-6330 is the resistance zone , above which new highs are likely above 6415.Weekly/Monthly range remain at 99/219 points till today.

Jan13 Update

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

1. Nifty up by 1.7% with 1.0 breadth.
2. 93rd day since the lows of 5118, 70th day since the lows of 5700.

Nifty opened gap up and closed above friday/last week's high indicating good strength. 6300-6330 is downward trending trendline and will provide resistance to Nifty. If Nifty survives this week above 6200 then steady bull run can be expected ahead. Range for Nifty was 99 points today while monthly range remains at 214 points till today.

Jan10 Update

Nifty made volatile moves with moderate volumes and -ve breadth. Important points for today.

1. Nifty flat with 0.48 breadth.
2. 92nd day since the lows of 5118, 69th day since the low of 5700.

Nifty attempted 6250 resistance but failed and closed flat above 6150 levels. If Nifty does not breach 6150 early next week, then 6250 is likely to be retested and passed for 6300-6350 levels.Range for the day/week was 100 points and Monthly range stands at 219 points. On weekly basis Nifty was down by 0.7%. Early next week should become clear whether 6100-6150 support zone will stand or not. if breached 6000-6050 level should happen immediately.

Jan9 Update

Nifty was again rangebound and closed flat with moderate volumes and -ve breadth. Important points for today.

1. Nifty down by 0.1% with 0.53 breadth.
2. 91st day since the lows of 5118, 68th day since the lows of 5700.

Nifty tested 6150 levels on lower side but closed flat with a range of 40 points. Weekly range remains at 80 points While monthly is 214 points. Nifty is in 70-80 point range since last 5-6 days. 6060-6100 is good support incase Nifty breaks 6130-6140 levels. Any close above 6200 is +ve and 6230-6250 is the main resistance.

Jan8 Update

Nifty moved sideways in narrow range with +ve bias. Important points for today.

1. Nifty up by 0.2% with 1.3 breadth.
2. 90th day since the lows of 5118, 67th day since the lows of 5700.

Nifty moved in 32 point range today and closed just above yesterday's close. Weekly and Monthly range was unchanged today and remains at 80/214 points.6150-6250 is the range Nifty is stuck in currently.

Jan7 Update

Nifty slipped further down below 6150 with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 0.5% with 0.85 breadth.
2. 89th day since the lows of 5118, 66th day since the lows of 5700.

Nifty again attempted to go above 6220 but failed and closed just above 6150  levels.Today range was 77 points and Weekly and Monthly range now stands at 80/214 points.Only Close above 6250 will indicate reversal.On Lower side 6100-6130 are support levels

Jan6 Update

Nifty moved around 6200 levels amid moderate volumes and +ve breadth. Important points for today.

1. Nifty down by 0.3% with 1.4 breadth.
2. 88th day since the lows of 5118, 65th day since the lows of 5700.

Nifty didnt do anything today. Todays range was 54 points. On upper side 6230-6250 is significant resistance While on downside 6130 is the support level. Breach of either of these levels could see 50+ points fyrther in the direction of breach. Monthly range till today stands at 188 points.

Jan2 Update

Nifty opened above 6350 level but could not sustain and sold off heavily below 6250. Important points for today.

1. Nifty down by 1.3% with 0.43 breadth.
2. 86th day since the lows of 5118, 63rd day since the lows of 5700.

Nifty made a big move today by closing below 6250 after opening above 6350 levels. Todays range was 147 points. Nifty has closed below important support of 6230-6250 implies that further weakness could be seen in short term with 6150 as nearest support level. Trendline joining 5700-5972 is near 6200, so Nifty is currently hovering at trendline support. Decisive break below 6200 , 5800 is major support level. But if Nifty takes support at 6200 then that is very bullish scenario and 6450-6600 could be seen in that case.

Jan1 Update

Nifty started the year on flat note with low volumes and +ve breadth. Important points for today.

1. Nifty flat with 2.3 breadth.
2. 85th day since the lows of 5118, 62nd day since the lows of 5700.

Nifty ended just above 6300 levels. Todays range was 29 points and weekly range is 71 points till today. 6250-6350 are the support and resistance levels. Breach of any of these 2 levels with thrust should see 100-150 points being taken out in quick manner. Last year range was 1297 points, lowest range in last 8 years(since 2006). This year is likely to see range expansion in Nifty.