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.