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. 

Feb19 Update

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

1. Nifty up by 0.4% with 1.2 breadth.
2. 120th day since the lows of 5118, 72nd day since the highs of 6342.

Nifty traded in 19 point range till 3 and expanded by 16 points in last minutes. Todays range was 35 points and Weekly/Monthly range stand at 122/227 points. Nifty has crossed the 6150 hurdle but momentum is slack. If Nifty moved further up 6190+ should trigger a correction as current move looks slow and 6200+ is important resistance.

Feb18 Update

Nifty crossed the earlier swing highs of 6106 with low volumes and +ve breadth. Important points for today.

1. Nifty up by 0.9% with 1.35 breadth.
2. 119th day since the lows of 5118, 71st day since the highs of 6342.

Nifty crossed and closed above 6100 levels.  Todays range was 75 points and weekly range is 103 points till today. Monthly range stands at 208 points. Nifty is right now into resistance zone of 6130-6150 . Sustaining above this zone may lead Nifty to 6190+ . Lower support is at 6080-6100 for any correction.

Feb17 Update

Nifty moved around 6050 with +ve bias with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.4% with 0.8 breadth.
2.118th day since the lows of 5118, 70th day since the highs of 6342.

Nifty closed above 6050 and above the highs of friday. Todays range was 42 points and monthly range remains at 173 with 8 days to go. 6130 needs to be breached to put Nifty in short term Bull mode. 5930-5980 on lower side is good support now. Until either of these levels is breached, Nifty remains in directionless range of 5950-6100.

Feb14 Update

Nifty bounced from sub 6000 levels to close above 6050 with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.8% with 0.83 breadth.
2. 117th day since the lows of 5118, 69th day since the highs of 6342.

Nifty today bounced from 5984 level towards the end of session.Todays range was 72 points and Weekly/Monthly range stands at 173/122 points. On Weekly basis Nifty closed 0.25% in the red ie this was 7th week of downside from 6313. Nifty has completed 15 weeks in sideways movement between 6400-5950 levels. Any breakout from this range can give 400+ point move from the extremes.

Feb13 Update

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

1. Nifty down by 1.4% with 0.38 breadth.
2. 116th day since the lows of 5118, 68th day since the highs of 6342.

Nifty declined throughout the day today breaking 6000 levels towards the end. Todays range was 103 points and Weekly/Monthly range stand at 115/173 points. Where Nifty is able to find support below 6000 level is to be seen, 5800-5850 is strong support of Nifty below 5933. Only a close above 6106 now will turn the short term trend up.

Feb12 Update

Nifty tested 6100 levels today amid narrow range with moderate volumes and neutral breadth. Important points for today.

1. Nifty closed up by 0.35% with 0.83 breadth.
2. 115th day since the lows of 5118, 67th day since the highs of 6342.

Nifty went past 6100 but closed below it.Todays range was 29 points after yesterdays 28 point range. Weekly/Monthly range stand at 60/173 points.6100 -6130 is resistance zone of Nifty beyond which 6190 is resistance zone. Today was 7th day since Nifty reversed from 5933 levels. If Nifty goes beyond 6130 then test of 6200 may happen soon.

Feb11 Update

Nifty was directionless in narrow range with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.15% with 0.83 breadth.
2. 114th day since the lows of 5118, 66th day since the highs of 6342.

Nifty's range today was only 28 points. 6020-6030 is the downside support which if maintained for another 1-2 days should see Nifty inching towards resistance at 6130 levels. Range for this week till now is 37 points and monthly range is 150 points till today.

Feb10 Update

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

1. Nifty down by 0.15% with 0.9 breadth.
2. 113th day since the lows of 5118, 65th day since the highs of 6342.

Nifty moved in 37 point range today in a directionless manner.Sustaining 6020 levels for another 1-2 days , Nifty is likely to test its main resistance zone at 6190+ in next few days of this week though 6130 is also resistance area for Nifty. Today was 4th day of reversal from 5933. Range for this month stands at 150 points till now.

Feb6 Update

Nifty opened in the green but got resisted at 6050 with moderate volumes and neutral breadth. Important points for today.

1. Nifty up by 0.2% with 0.9 breadth.
2. 111th day since the lows of 5118, 63rd day since the highs of 6342.

Nifty closed in the green today with a range of 83 points. Nifty is in short term uptrend and faces resistance at 6110-6130 levels. Nifty may undergo 1 more fall if it gets resisted below 6150. This week's range till now is 141 points.

Feb5 Update

Nifty moved around 6000 levels with positive bias and moderate volumes. Important points for today.

1. Nifty up by 0.35% with 1.5 breadth.
2. 110th day since the lows of 5118, 62nd day since the highs of 6342.

Nifty closed above 6000 levels today. Todays range was 66 points and if Nifty closes in the green tomorrow, then short term bottom is formed at 5933. Today was 9th day since the reversal from 6355. close above 6130-6150 will turn the trend to bullish else Nifty may attempt further lows at 5800-5850, which is strong trendline support.

Feb4 Update

Nifty dipped below 5950 but bounced back to close above 6000 levels with moderate volumes and neutral breadth.

1. Nifty flat with 1.0 breadth.
2. 109th day since the lows of 5118, 61st day since the highs of 6342.

Nifty found short term support @5950 and bounced to close above 6000 levels. Upside resistance levels are at 6110/6130/6190/6260.Todays range was 84 points and weekly range stands at 141 points.