Aug28 Update

Nifty moved around 7950 today with high volumes and neutral breadth. Important points for today.

1. Nifty up by 0.25% with 0.8 breadth.
2. 245th day since the lows of 5118, 138th day since the lows of 5933.

Nifty closed above 7950 and was up by 0.6% on weekly basis. This was 3rd consecutive up week of Nifty. Daily trend remains +ve though Nifty find ing breaking the resistance at 7970 tough to break. Above 7850, Nifty remains in upmove , so if no gap up early next week(to 8000+) then Nifty may move down to gather momentum. Only decisive break below 7850, will put Nifty in downmove. August ended with range of 428 points and Quarterly range stands at 546 points.

Aug27 Update

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

1. Nifty up by 0.4% with 1.2 breadth.
2. 244th day since the lows of 5118, 137th day since the lows of 5933.

Nifty moved in 30 point range today and closed above previous closing high. 7950 was not attempted today intraday , so high of 7968 is not breached. Nifty likely to jump by atleast 100 points in next 1-3 days, 7850/7950 are the threshold points for each directional move.

Aug26 Update

Nifty drifted further down towards 7850 with moderate volumes and -ve breadth. Important points for today.

1. Nifty flat with 0.5 breadth.
2.  243rd day since the lows of 5118, 136th day since the lows of 5933.

Nifty traded in the red most of time, but bounced later to close above 7900 level. Todays range was 53 points and weekly range stands at 106 points till today. 7850-7950 is the broad trading range for now. If Nifty survives 7850 level this week and ends around 7900 by end of week, then Nifty likely to jump by 200 points(up/down) early next week.

Aug25 Update

Nifty moved past 7950 today but slipped down to 7900 levels with moderate volumes and -ve breadth.Important points for today.

1. Nifty down by 0.1% with 0.6 breadth.
2. 242nd day since the lows of 5118, 135th day since the lows of 5933.

Nifty moved past important level of 7950 but got resisted towards the end and closed just above 7900 levels. This pullback may have some more room to go. 7840/50 is main support of Nifty, if Nifty closes below this level then deeper correction may happen but staying above it , Nifty may make new highs again. Todays range was 71 points and monthly range now stands at 428 points.

Aug22 Update

Nifty moved in a very narrow range above 7900 level with moderate volume and neutral breadth Important points for today.

1. Nifty up by 0.3% with 0.9 breadth.
2. 241st day since the lows of 5118, 134th day since the lows of 5933.

Nifty moved in 29 point range today and closed above 7900 level. Weekly /Monthly range stand at 150/389 points. Nifty closed up 1.55% on weekly basis. Quarterly range stands at 507 points till today. Nifty remains in upward momentum till it closes below 7ema on closing basis.

Aug21 Update

Nifty was sideways consolidation around 7900 level with higher volumes and neutral breadth. Important points for today.

1. Nifty down by 0.1% with 1.2 breadth.
2. 240th day since the lows of 5118, 133rd day since the lows of 5933.

Nifty closed almost flat after hovering around 7900 today. Nifty broke yesterdays low marginally and todays range was 64 points. If Nifty has topped out then close below 7850 will be early indication but if it is consolidating for higher move then Nifty may not breach 7850(close) . 8000-8050 has trendline resistance for Nifty.

Aug20 Update

Nifty opened above 7900 but gave up the gains to close below 7900 amid moderate volumes and neutral breadth. Important points for the day.

1. Nifty down by 0.3% with 1.25 breadth.
2. 239th day since the lows of 5118, 132nd day since the lows of 5933.

Nifty opened at new highs but could not sustain 7900+ level and closed below it. Today's range was 56 points and weekly/monthly range stands at 143/382 points. Nifty today broke the rising trendline from 7540 and closed below it. 7850-7800 are good support of Nifty.

Aug19 Update

Nifty moved above 7900 in a narrow range with higher volumes and +ve breadth. Important points for today.

1. Nifty up by 0.3% with 1.55 breadth.
2. 238th day since the lows of 5118, 131st day since the lows of 5933.

Nifty closed just below 7900 after hovering around it all day. Today's range was 37 points and weekly/monthly range stands at 139/378 points. Nifty's momentum is +ve but weakening. Divergences appear on hourly scale but till Nifty trades above 7ema, Nifty is setup for more gains.

Aug18 Update

Nifty moved up gradually all day with moderate volumes and +ve breadth to close above 7850. Important points for today.

1. Nifty up by 1.05% with 2.6 breadth.
2. 237th day since the lows of 5118, 130th day since the lows of 5933.

Nifty closed above 7850 today and was up for the 5th consecutive day. Today was new high for Nifty. Nifty has reversed the fall from 7840-7540 is just 5 days. 7950-8050 is the rising trendline resistance for Nifty. Momentum is +ve but doesn't look strong enough to breakout above trendline resistance at 8050.  

Aug14 Update

Nifty moved towards its last resistance of 7800 with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 0.7% with 1.5 breadth.
2. 236th day since the lows of 5118, 129th day since the lows of 5933.

Nifty closed just below 7800 levels . 85% retracement of fall is done in 4 days. Momentum is +ve +ve but muted , so new highs above 7840 should be slow and small. Channel resistance stands at around 8000-8050. Monthly range stands at 256 points till now.Quarterly range is 418 points.

Aug13 Update

Nifty got resisted at 7750+ with higher volumes and -ve breadth. Important points for today.

1. Nifty up by 0.15% with 0.3 breadth.
2. 235th day since the lows of 5118, 128th day since the lows of 5933.

Nifty underwent mini correction from 7750 to sub 7700 but closed in the green. Today's range was 217 points and weekly/Monthly range stands at 159/217 points. Next resistance is 7800 if Nifty survives above 7750 consistently, else trendline from 7540 comes at about 7680-7700 as support for tomorrow. Till this trendline is breached , Nifty remains in uptrend.

Aug12 Update

Nifty again opened gap and closed above 7700 level with moderate volumes and neutral breadth.

1. Nifty up by 1.33% with 1.3 breadth.
2. 234th day since the lows of 5118, 127th day since the lows of 5933. 

Nifty opened gap up for 2nd consecutive day. Todays range was 81 points and Weekly Range is 137 points till today. Nifty has closed above the falling trendline resistance (7840-7800-7750) ,so next significant resistance for Nifty now comes at 7750/7800 , ie horizontal resistance.

Aug11 Update

Nifty opened gap up above 7600 level and retained the gap till close. Important points for the day.

1. Nifty closed up 0.75% with 1.55 breadth.
2.  233rd days since the lows of 5118, 126th day since the lows of 5933.

Nifty closed above 7600 level and range was 37 points. Nifty has formed a short term bottom at 7540. Falling trendline is at 7700 ,which if crossed then 7750-7800 will be the last resistance. Monthly range stands at 212 points till today.

Aug6 Update

Nifty gave up the gains of yesterday with moderate volumes and neutral breadth. Important points for today.

1. Nifty down by 1.0% with 0.9 breadth.
2. 230th day since the lows of 5118, 123rd day since the lows of 5933.

Nifty closed below 7700 level and below 3/7 ema after closing above it. Nifty has resistance zone from 7740-7790. Any further attempt to bounce should not cross this zone. On Lower side support 7670 is minor support of Nifty and below that, 7550 is strong trendline support of Nifty. Todays range was 82 points and Weekly/Monthly range stands at 140/159 points.

Aug5 Update

Nifty bounced further up above 7700 level with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 0.85% with 1.8 breadth.
2. 229th day since the lows of 5118, 122nd day since the lows of 5933.

Nifty closed just below 7750 level. Nifty today closed above 3ema. 7740-7790 is  max retracement zone of Nifty if correction from 7840 continues. If Nifty sustains below 7700 level, then drop below 7600 likely to come soon. Today's range was 114 points and weekly/monthly range stands at 130/159 points. 

Aug4 Update

Nifty opened gap up and  remained in +ve territory with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 1.1% with 2.3 breadth.
2. 228th day since the lows of 5118, 121st day since the lows of 5933.

Nifty bounced after Friday's selloff and closed above 3ema. If Nifty sustains above 3 ema for another 2 days , then it is reversal with new highs above 7800 soon. 7700-7725 will provide resistance and Nifty can turn down from here. Today's range was 72 points and monthly range is 123 points till today.