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.