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.