Sep30 Update

Nifty had a mixed day today with higher volumes and neutral breadth. Important points for today.

1. Nifty up by 0.05% with 0.9 breadth.
2. 266th day since the lows of 5118, 159th day since the lows of 5933.

Nifty opened +ve and went past 8000 levels but gave up the gains later and settled nearly flat on closing. Today's range was 107 points and Monthly range ended at 339 points. Quarterly range was 758 points. Next few days will clear up the monthly direction of Nifty. If Nifty goes below 7800, then Nifty may be entering into medium term consolidation range else if 7900(closing) is retained for another 2-3 days then Nifty may spike up to new highs soon.

Sep29 Update

Nifty traded sideways around 7950 with moderate volumes and +ve breadth. Important points for today.

1. Nifty down by 0.12% with 1.9 breadth.
2. 265th day since the lows of 5118,158th day since the lows of 5933.

Nifty had an inside day today with a range of 57 points and closed mildly in the red. 8050/7900 are direction deciders in short term. ~7800 comes strong trendline support of Nifty.  Tomorrow being RBI day may witness large swing in either direction. 7900-8050 is neutral sideways range of Nifty. Monthly range of Nifty till now is 339 points.

Sep25 Update

Nifty slipped all through the day dipping below 7900 level amid high volumes and -ve breadth. Important points for today.

1. Nifty down by 1.1% with 0.16 breadth.
2. 264th day since the lows of 5118, 157th day since the lows of 5933.

Nifty traded in the red all day and closed near day's low just above 7900 level. Todays range was 142 points and weekly/monthly range stands at 283/303 points. Nifty having broken on downside is expected to dip further towards 7800 level in next few days. 7750-7800 comes as strong trendline support. This support is likely to rejuvenate Nifty not seen since May'14.

Sep24 Update

Nifty slipped further down below 8000 levels amid high volumes and -ve breadth. Important points for today.

1. Nifty down by 0.2% with 0.35 breadth.
2. 263rd day since the lows of 5118, 156th day since the lows of 5933.

Nifty hovered around 8000 levels and briefly dipped to 7950 level but bounced immediately from there. Nifty is critically poised now, downside is limited to ~7800 level at worst. Nifty may be preparing the ground for higher move. Weekly/monthly range stands at 209/255 points. Range expansion beyond 7925/8180 is highly likely in next 4 days of the month by 100+ points.

Sep23 Update

Nifty dipped all day today to close near low with high volumes and -ve breadth. Important points for today.
+
1. Nifty down by 1.6% with 0.3 breadth.
2. 262nd day since the lows of 5118, 155th day since the lows of 5933.

Nifty closed near lower 8000 today amid bearish breadth and higher volumes. On Downside, 7750+ is trendline support line from Feb'14, that is increasing each day. 8200 on upside and 7750-7800 on downside is broad trading range of Nifty. Nifty is consolidating with an upward slope since spike of May'14, so breakout is more likely in coming days. Todays range was 141 points and weekly/monthly range stands at 141/255 points.

Sep22 Update

Nifty moved in 95 point range with upward bias and moderate volumes. Important points for today.

1. Nifty up by 0.3% with 1.0 breadth.
2. 261st day since the lows of 5118, 154th day since the lows of 5933.

Nifty closed just below 8150 level. Nifty is finding resistance at 8150+ but 8100 is acting as a base for Nifty . Nifty in the absence of trigger can slide upto 8300+ levels. Event based trigger is needed to take Nifty past the resistance zone as Nifty remains in upside but momentum is missing.

Sep10 Update

Nifty slipped further below 8100 level amid high volumes and +ve breadth. Important points for today.

1. Nifty down by 0.7% with 1.3 breadth.
2. 253rd day since the lows of 5118, 146th day since the lows of 5933.

Nifty closed in the red for 2nd consecutive day and below 8100 level. Todays range was 53 points and Nifty closed just  below 7ema. If Nifty slides further to go below 8050, then retest of Gap region at 7968 can happen soon. But if Nifty sustains above 8050, then sudden reversal to 8200 may be coming. Next 2-3 days should see a move in 1 direction.

Sep9 Update

Nifty drifted down today amid higher volumes and neutral breadth. Important points for today.

1. Nifty down by 0.25% with 1.1 breadth.
2. 252nd day since the lows of 5118, 145th day since the lows of 5933.

Nifty ended the day mildly in the red though it closed above 8150. Today's range was 48 points only and was an inside day. Weekly range for this week stands at 54 points till today and monthly range is 196 points. September is a high range month, so 400+ is expected in this month atleast. Nifty remains is upward bias but upside momentum is low and needs pullback to push higher at every resistance.8150-8200 is upper channel resistance.

Sep8 Update

Nifty made new highs above 8150 with higher volumes and +ve breadth. Important points for today.

1. Nifty up by 1.1% with 3.0 breadth.
2. 251st day since the lows of 5118, 144th day since the lows of 5933.

Nifty opened gap up and moved higher up till the end. Today's range was 54 points. Nifty today crossed the (450pt)channel that it is engulfed in since Late May. If channel breakout is confirmed for another 1-2 days then nifty can scale 8500+ in next few days.

Sep5 Update

Nifty was sideways with downside bias amid higher volumes and +ve breadth. Important points for today.

1. Nifty down by 0.1% with 1.3 breadth.
2. 250th day since the lows of 5118, 143rd day since the lows of 5933.

Nifty moved in 73 point range and closed mildly in the red. Weekly , Nifty closed up by 1.65%. Weekly/Monthly range stands at 157 points. Nifty is moving in 8050-8150 range since last 3-4 days. Breach would lead to 100 pt move in the direction of breach immediately. No great triggers appear as of now for big move in either direction, so Nifty may keep inching up/down till it prepares ground for a new move in any direction. Nifty is moving in an upward sloping channel since Late may, so expected breach of this channel is on upside. Current high/low of the channels are 8150/7700.

Sep4 Update

Nifty retreated below 8100 level today amid higher volumes and -ve breadth. Important points for today.

1. Nifty down by 0.2% with 0.5 breadth.
2. 249th day since the lows of 5118, 142nd day since the lows of 5933.

Nifty closed below 8100 level today. Today's range was 54 points and Nifty closed just above yesterday's low. 7950+ keeps the short term momentum +ve and below 7850 Nifty turns -ve for deeper fall though 7750 comes in as major support. For now 7950-8200 may be the range for next few days till Nifty resolves itself for the next directional move.

Sep3 Update

Nifty moved further up towards 8150 amid higher volumes and neutral breadth. Important points for today.

1. Nifty up by 0.4% with 1.0 breadth.
2. 248th day since the lows of 5118, 141st day since the lows of 5933.

Nifty closed midway of today's range of 49 and above 8100 levels. Nifty now faces Trendline resistance @8150+.  Pullback is likely in next 1-2 days with 7950-7984 as good support. Weekly/Quarterly range stands at 157/719 points.

Sep2 Update

Nifty powered its way further up above 8100 with higher volumes and +ve breadth. Important points for today.

1. Nifty up by 0.7% with 1.5 breadth.
2.  247th day since the lows of 5118, 140th day since the lows of 5933.

Nifty extended the bull run over 8100 today. Some -ve divergences are there on hourly scale. 8150-8200 are trendline price resistance level and pullback from these points is highly likely. 7950 is the first main support of Nifty on downside and 7968-7984 gap is also a good support. Todays range was 65 points and Weekly/Quarterly range now stands at 117/679 points.

Sep1 Update

Nifty opened gap up and closed above 8000 level with moderate volumes and +ve breadth. Important points for today.

1. Nifty up by 0.9% with 2.15 breadth.
2. 246th day since the lows of 5118, 139th day since the lows of 5933.

Nifty opened gap up and traded above 8000 level all day. Today's range was 50 points. Today was 14th day since the lows of 7540. Nifty faces resistance at 8150-8200 levels and RSI is also in the deep resistance zone. Nifty likely to move up in sideways/consolidating manner. 7950+ keeps Nifty in short term upmove while 7850 keeps Nifty in Upmove. 7750 is strong support for Nifty , below which only Nifty could make a sharp fall.