Technical Traders

Market opened with a gap up continuing Fridays move,the markets manage to test 5630 the previous 9 months high and is expected to continue to do so.Well the markets did not manage to stay above 5630 since it faced supply at higher levels ,that was for certain.The markets posted aclose below 5630,yet holding 5600, indicating the euphria might be fading.The markets hammered a 5% rise in just 2 days,with the fundamentals still being porous.I fell that the markets are on thestart of bull rally.                                                                                    ...

Nifty gave an extremely marvellous session today posting a close at 5577 with a rise of ferocious 143 points.The Markets witnessed a strong gap up of nearly more than 100 points following domestic and strong global cues.With a gap up opening the markets made another rising window pattern which is an indication of strong  bullish market and theres more upside remianing.The broader market  favored the bulls with an 819 advances to 674 declines.With the todays move the Nifty has moved out of the rising daigonal pattern and will head further upwards in coming days to come.Todays "BURST IN NIFTY " been advocated by me in my previous 2 posts.certainly markets were strongly awaiting for this exponential rise.                                           ...

Nifty witnessed an absolutely sedate session,the bias looked positive but lacked momentum . The broader market was negative with 665 advances to 808 advances.The rally seemed to take a halt for a day before continuing further.i feel that the rally would take the markets to 5470-5500 before correction.since we are lacing fundamentally the longevity of this rally cannot be counted on.                                                                                                       On the hourly charts we are making higher highs and higher lows keeping the momentum intact,still as advocated a burst of 40-60 points on the nifty is still pending before correction ,i feel this might come tomorrow.Hence adding nothing more to i...

Another excellent day for markets posting a close at 5431 with handsome gains of 41 points on the cards.The broader markets favored the bulls with 867 advances to 617 declines..The current session turned a bit volatile but ended smartly with ample gains.Now finally we made possible a close above 5400,this has elevated our expectation more ,also the markets seems to accomplish a higher high this time  evidencing the uptrend.This rally has more 40 points to bag before it get a hurdle,the  5476 level corresponding to 61.8% fibonacci extension level.                                                                         ...

Today market ended positive at 5390 with moderate gains of 26 odd points.With the current session, market have made up their mind of continuing the trend.The broader market favored the bulls with 793 advances to 680 declines.Now the markets are likely to trade higher towards the upper band of the diagonal,while oing so it may face supply at 5400.A close post 5400 will open up further alternative to 5600.          Tehnical indicators are also supporting this movement.The MACD is about to give a poitive crossover.While the stochastic oscillator has approached the overbought zone on the daily charts.Currently markets are making higher lows successfully,where establishment of a higher high will further testify the uptrend.Taking the larger view into concern,the ADX is failing to show a significant trend strength which gives us a warning signal of lacking fundamental stimulus,here i get a bit skeptic that whether the markets will be able to attain 56...

Nifty closed  absolutely flat in green at  5363 with marginal gains of 4 points.The broader market was a kind of mixed reaction but numbers biased  to bulls with 816 advances to 653 declines.Today's session formed a Doji candlestick pattern on the daily charts,which is an indication of indecision.After a splendid bounce participants are looking some what cautious ,,people might have started booking partial profits which is equally compensated by minute fresh positions.A balance is formed between the bulls and the bears.Markets are likely to continue this trend till 5400, while doing such it might take support around the  5300 levels.                                                         ...

Nifty closed in green at 5342 after bursting 103 points.The broader market undoubtedly biased the bull with 1012 advances to 475 declines.It was a complete blast at openeing ,though it could be reckoned in early morning following strong global cues an.d SGX NIFTY,The market closed with a sustained gains which lead us to bulls getting empowered.With the current gains expectation have risen and targets for Nifty in coming days have increased.                                                                             Technically Nifty bounced yesterdays from the uptrend-line and today witnessed a rising window,this has...

Nifty  gave a close in green at 5238 with mild gains of 12 odd points on the cards.In the opening session nifty drifted in red with the bears maintaining a hold .Markets were closely following the news from ECB,which lead to rise in nifty in the latter part of session.Nifty reached day high levels but could not sustain and soon shed majority of it following closing.Volatility rose as markets approached higher levels,this indicates worry,while maintaining  the levels is seeming difficult these days.Lack of momentum and skepticism will lead us sideways.                                                                        ...

Nifty closed in red at 5225 shedding 48 odd points on the cards.The markets were expected to open negative amid negative global and domestic macros.The broader markets were biased to the bears with 672 advances to 873 declines.The weakness still continues among the participants and markets approaching 5200..           Markets are resting taking support of an uptrend-line,if we hold on to this level then we might start an up-move again.Now here major concern remains the weak macros which are unable to fuel the markets result of which we are stuck in a range.While technically markets are looking stable at least the large downside for the markets is capped.                                                 ...

Nifty posted a  close in at 5276 with a considerable gains of 23 odd points.The broader markets favored the bulls with 852 advances to 653 declines.Initially markets were hovering in red with a mild loss on the nifty.Post lunch session came some amount of demand which led to a bounce and markets started surfacing in green.It seems participants have started to accumulation.Also a close with the sustained gains makes the odds favor the bulls ,after this i expect to see some revival in the markets .                                                                                   ...

Nifty closed today in red at 5253 shedding a meager 4 points on the cards,but it was certainly a volatile session.The overall  market breadth was mild positive with 798 advance to 669 declines.Todays session was evidencing towards weakening momentum, in such case the markets are likely to approach a support ,which immediately is seen at 5200.                                            Technical view makes us to wait and watch whether the markets are holding the support and further continuing with the trend or it has some other game plan.The picture will certainly be clear in coming days.But more likely nifty is likely to hold 5200 subject to no big windfall strikes the markets.Bouncing from the support the up-move might lead us to 5400 where markets are likely to face some ...

Nifty posted a loss of 56 odd points on the cards.The markets clearly reflected weakness also the markets seemed exhausted also were trading in the overbought zone for few days ,taking  all this into account Nifty was due for a correction also the charts were reflecting the same story.The price chart made a new high but the indicator MACD failed to do so alerting  a mild divergence.Markets halted and reversed perfectly from 78.6 % retracement level.                                        From past few days markets have corrected fairly and are now approaching 5200.Here Nifty is likely to end the corrective phase,sine it has a strong support at around this levels and approaching this level will ultimately close the window opened previously.Bouncing from this level markets are further expec...

As expected nifty posted a strong gap up opening following strong  global cues.The broader market undoubtedly stood in the favor of the bulls with 906 advances to 576 declines,while .Nifty formed a rising window on daily charts  and sustained with the gains .This rise has triggered a bullish sentiment amongst traders.                                                                                                    Here i would like to draw attention of the traders that the market  is around the resistance of the downtrend-line,also current rise was halted at this level,,if tomorrow markets fails to violate the trend-line and sustain above it them the bear might take this chance and drag the nifty down to...

Nifty closed the last day of the week in red losing arbitrary 12 points at 5215.The overall breadth was negative with 616 advances to 861 declines.The market was expected to open with negative bias amid negative global cues.The nifty in its intraday journey losing  momentum drifted to around 5150 levels where it was pushed back by bulls to above 5200.Here we a witnessing strong demand around the 5150 levels which is becoming support for near term.Also the 5240 hurdle is limiting the market from elevating further, this level is quite significant since previously the markets reverted from this levels only.                                                             The nifty is forming a doub...

Nifty closed in red with mild loss of 12. odd points at 5227.The market breadth was  positive with 809 advances to 644 declines.Today market gave a lack lustre  session,after 3 days of strong rise bulls seem to have exhausted and in a mood to rest .we must watch carefully as if the markets starts losing momentum ,bears can  take over the control from them ,well Fridays session could throw some more light on the direction of the trend.                                  As of now the nifty is holding the support levels but finding hindrance on the way up.Also the technical indicator have started showing  some potent warning signs.The Stochastic oscillator has well pierced the overbought zone,in such  case any disappointing news can lead to drag down in the markets .The RSI is also flat  sliding above ...

Nifty continues with the momentum upwards closing with  29 point gains at 5229.Today since markets were waiting for the RBI policy,markets were subdued in morning session,The time RBI raised the curtains markets tumbled to days low,nifty went to 5150 and bounced from there taking support at these levels.The participants had already factored the policy outcome ,hence when the news flashes it was responded with a mild cut.Today the broader market stood in the favor of the bulls with 787 advances to 655 declines.                                                                                ...

Nifty punches  a 100 points rally on the cards which  has taken nifty to 5200 mark.The broader market stood positive following strong positive global cues with 987 advances to 509 declines.With the rally the hourly momentum has changed positive.Going forward tomorrow nifty is likely to face to supply at 5230,if nifty successfully  sustains above this level then nifty can  head towards 5300.At this level nifty may face a stronger resistance causing it to reverse,since this level is witnessing the resistance of downtrend-line.                                                                           ...

Nifty opened with a sharp gap  following strong positive global ,it went higher and faced profit booking which led the index to come off the highs, Friday closed green after gaining 57 points on the cards.With this bounce the nifty is expected to climb higher levels till 5250 ,from which it can reverse to start the new wave down.          Nifty did bounce from the same level where it took a support in rally preceding this,it showed a cluster formation at these levels and resumed the up move.The same story is expected to be repeated.Ater reverting from the 5250 levels index might see levels of sub 5000 levels

Nifty closed in red closing at 5043 losing 66 points on the cards.The  broader market favored  the  bears with 314 advances to 1134 declines.The close below 5070 has open up negative alternatives.The market is expected to slide down further in anticipation to take a support.                                                                                                 We had a very low diet earnings season following painful expiry.Looking at the chart above it is clearly evident that the short term ...

Nifty  slips down further losing 18 odd points and closing today's session at 5109.The broader stood negative with 491 advances to 979 declines.The market posted a gap down opening following  weak negative global cues.The day progresses with further slide down till the bounce from a support.As i said in my yesterdays post that markets will trade sub 5100 and take support around 5070 level,the market followed the same today.                                       Currently the markets are trading below the 20 and 40 DMA levels opening  bearish alternatives for short term,since the 200 DMA is respected yet panic selling is capped.The charts are turning bearish day by day,but since the markets have taken support of 5070 level  and keeping in  view the expiry in feel markets to trade...

Markets witnessed an absolute sideways  and lacklustre session,where it hardly manages to accumulate 10 odd points  closing at 5128.As expected some ripples were to be seen in view of the expiry but the lack of participation was evident.Till expiry the same story is  likely to continue.Also the currency woes hovering as dark clouds over the  markets compelling the markets to slide further.                                                                                        On the hourly charts the sentiment has turned negative and markets are likely to trade at sub 5100 levels with support around 5070.The markets are resting above the dynamic DMA level which  currently is trying to keep sentiments afloat and not let the bulls sink down .The t...

The Nifty tumbles on strong negative global cues.The markets gave a gap down opening following  crackdown to a dip of 87 odd points closing the hammering at  5117.The broader market stood undoubtedly in the favor of bears whole day with 389 advances to 1092 declines.Post weak opening the tussle between the bulls and the bears peaks up,even after several attempts by the bulls,they failed to sustain the vital levels and eventually the bears dragged them down.Today the bulls were completely thrashed with absolute no hopes of recovery,as the bears had the dominant hand.                      The prevailing weakness has now clearly started reflecting on the charts.The technical s are also biased towards the bears considering short term view.With todays fall the markets have violated the 40 DMA and closed below it,adding to short term correction.The markets rose on double bottom form...

Nifty closed  in red for the 3rd week losing 37 odd points on the cards.The participants managed somehow to keep nifty afloat short term averages ,helping sustain the momentum. Markets were certainly due for technical correction since the rally was completely sentiment driven.In market where we are lacking strong fundamentals any up-move can be suspected.                                                                      The charts are showing weakness,but the picture hasn't turned worse,hence in such case betting on the futher levels for the market will be futile,instead it would be prudent to offer markets some leeway regarding its journey ah...

Nifty closed with a gains of  26 odd points at 5242.Nifty witnessed a  gap up opening following global cues and very well sustained the momentum.The markets have successfully taken support around 5180 levels as of now,compelling us to think of higher levels going further.With the current momentum markets could go upto 5300 where it is likely to face some distribution.Today the broader market was positive with 795 advances to 675 declines.                                         Technically i am still of the view that markets are weak ,some arbitrary  positive news-flow can trigger short term positive  momentum,but its longevity is strongly doubted .We need a strong evidence to bet on bulls for a long run,the prevailing circumstances are not promising for a strong rally upwards.I would also like to make it clear that i am not counting  heavily on the bears,but ...

Nifty shed 71 points amid strong negative global cues and a thunderbolt from  negative Infosys guidance.The  broader market fired the bulls with 479 advances to 971 declines.The gap down opening  was presumable sighing global cues,but the weak  IIP numbers and infosys guidance further dragged the nifty to the lows.                                                                                                               ...

As  said in my previous post, rally is exhausting  due to lack of vital triggers.today markets opened gap down following negative global and Asian cues,the markets were in a continuous effort to give a pullback,but failed and closed at 5275 losing  45 points on the cards.The overall market breadth stood undoubtedly  favoring bears with 448 advances to 1040 declines.Still the markets managed to close above 5270 keeping live prevailing sentiments.                                 The nifty is  currently trading above the the 20 HMA .But the oscillator is trading with a negative crossover making us due for correction.Amid  weak sentiments ,markets might  settle down approaching support levels in anticipation to close the window.Since this rally is driven by weak forces,we can look forward  for t...

Nifty closed the last session of this week with another indecisive play.Nifty  posted a mild negative close at 5316 with  minute loss of 10 odd points on the cards.Somehow we managed to close in green on the weekly charts.The overall breadth stood in the favor of the bears with 600 advances to 900 declines.It is evident from the weekly charts that bulls are making consistent efforts to inch up day by day.                                                                                                 ...

Nifty posted a considerable gains of  25 points on the cards and closed in green at  5327.The  broader market stood in the favor of the bulls with 1085 advances to 516 declines.Markets gave a sedate opening,after hovering around 5300 for a considerable time,markets took to days high ,evidencing breakout in the upward direction.It also managed to close well above 5300 mark supporting the bullish trend.                                                                                                ...

Nifty closed in green at 5302 with marginal gains of 14 odd points on the cards.Following previous day ,today also markets posted a gap up opening .Then began the tussle between the bulls and the bears,till non markets were moving sedately hovering around the 5300 levels ,post noon session came up favoring the bulls ,as the markets effectively breached following close of to today's session.A close above 5300 level is likely to lure the participants for treading the further path ahead.Today the overall market breadth stood in the favor of the bulls with 955 advances to 513 declines.                                        The current sentiment is likely to drive the markets further up 5360,following 5400 and then 5460.Considering the past 3 days move a thin line of skepticism still persist ,as to w...

Nifty gained 9 odd points closing today's session at 5287.Markets  posted a gap up opening but failed to keep the enthusiasm,it was just an opening celebration with a dull party.Event the nifty did not manage to close above 5300.We have experienced another flat session,it can also be counted that the bulls are warming up for the next up-move.The overall market breadth stood positive with 889 advances to 516 declines.              On the hourly charts the nifty is trading around the 20 HMA.While on the daily charts the RSI is approaching the overbought zone ,The ADX is currently trading at 50 levels indicating strong trend building up.Also as the result of 2 flat session a couple of spinning tops are appearing on the daily charts.It could be taken as a warning signal of technical correction to fill the gap created  3 days before.Nifty will be headed towards 5400 where it is likely to reverse ,as it is the 161.8% Fi...

Nifty closed in red at 5278  after delivering an absolutely flat session.The markets opened flat with no surprises,after the initial stagnate movement markets rose to 5300 but failed to violate and finally closed at the opening mark.Today it seemed that the bulls were in no mood to party neither we willing to let off the gains,but surely markets will need some vitalizing nutrients to feed  and keep this rally sustain ,failure of which could possibly lead to rally to fizzle off.The overall market breadth looked  positive with 974 advances to 515 declines.                                                                                  I would like to comment here that  we are looking strong on the charts,but funda...

Nifty closed in green at 5278 bagging splendid gains of 130 points on the cards.The overall market breadth stood undoubtedly in the favor of the bulls with 1098 advances to 408 declines.Markets gave a blast at the opening day of the July series,fueling the bulls for the impending rally.The markets bursts following global cues,also the  rallying commodity joined the bulls party.                                                                                   The markets have now raise the expectation of the participants and will now be headed towards 5400.Well once at 5400 rally i...

Nifty closed in green at 5149 with marginal gains of 7 odd points.As expected expiry happened to be below 5200.Past few weeks markets were struggling in a tight range of 5200 and 5090.In this series  markets have made up much of the losses in the previous month.We are feeling a sense of peak skepticism with mildly bullish bias.But in view of the domestic and global turmoil longevity of this rally is suspected.I strongly feel that situation will get worse before getting better.                                                                          The reason for my being bearish is due to seasonal cycle theory.Our markets f...

Nifty closed in green at 5120 with marginal gains of 6 odd points.The overall market breadth was negative with 716 advances to 736 declines.The market gave an absolutely flattish opening with no gap surprises.The markets lingered whole day sideways in an extremely tight range.,though it did show some oscillation within the range but there wasn't any significant breakouts.In view of expiry the markets are expected to remain choppy for the remaining days.We might hold 5090 level for this series.          Technically warning signs of weakness have started appearing on the charts.We could take these signals as an indication to book some of our profits.If they show strong sign of reversal then markets expected to move down to attain support.The  nifty is having a good support at the 5000 levels ,successful violation on daily charts would trigger bearish concerns and would impart greater weakness to the markets.Hence for short term 5000 level h...

Nifty closed in red  at 5114 shedding  31 odd points.The markets open with a unexpected gap up even though the global cues were mixed with a negative bias,the SGX NIFTY also was showing a cut of 15-20 odd points in the pre-opening session.After mingling for sometime markets collapsed giving off the gains finally ending in red.This was expected as i advocated yesterday only that markets will be choppy,today markets managed to give a close above 5090 which gives us a reason to continue with the bulls.Though markets ended negative the broader market stood positive with 765 advances to 697 declines.                                                 Technically market is facing a hurdle at 5200.It is facing a resistance of a trend line generated from ...

Nifty closed in red at 5146 after nominal 18 odd point loss. The overall market breadth remain negative with 696 advances to 766 declines.The markets opened with gap down of nearly 65 odd points on the board,following strong negative global cues.The second impact was of rupee depreciating further to new lows.Though after a weak opening markets managed to cover initial losses.From past three days it is evident from the charts that 5080 level is a vitalizing support in the further movement .Successful buying around these level has been observed consistently,leading to strengthening of the bulls.The carts also are depicting the same scenario.                        But taking a look at the larger picture that our economy is facing serious financial turmoil,also our monetary policy need to undergo reformation,which is expected to be subsequently supporting for our economy as wel...

Nifty closed in  green at 5165 after scoring splendid 65 odd points on the cards.The market breadth remain positive with 926 advances to 513 declines.Markets witnessed a subdued opening ,very much stuck in tight range.Till mid session markets lingered in the range,then suddenly came a spree of buying taking the markets across the 5130 range up to the day high.,With this move the participants made an attempt to move forward with the trend .Now nifty is expected to trade higher with initial resistance at 5200 followed by 5400,and is expected to take a support at  5100 and 5050.                                          If the markets move with the same vigor and valor ,then we might soon see 5400,and probably crossing it moving forward to 5600.The Markets have taken support of th...

Nifty  closed in green at 5120 with the marginal gains of 17 odd points on the cards.The overall market breadth was positive with 996 advances to 552 declines.Markets gave a muted opening with absolutely no surprises,as advocated yesterday nifty gave a range bound session.This skepticism may continue for few more sessions.                       The fact is we are bullish  but we are literally lacking the catalyst needing to fuel the trend.We need to accept this and move on ,since  frequently attempting to reckon the further trend on the volatility basis would be futile.Nifty resuming the trend is inevitable ,but we should offer the markets to adjust to the current global ,domestic,financial as well as political turmoil.                         ...

Nifty ended in green at 5103 posting a gains of 40 odd points on the cards.The markets opened absolutely flat with no gap movements ,holds support at 5050 levels and rises higher.The markets found strong buying around the 5050 levels,markets have tested this level a number of times in past few sessions,increasing its validity.Now it is expected to rise further accomplishing the 5200 levels.The weighted expectations of the participants also is indicating towards the same direction           Today the overall markets breadth was positive with 752 advances to 692 declines.The markets will need stimulus to move ahead strongly,On account of the RBI policy out come bank-nifty is expected to slightly under perform.The  downside seems to be capped at 4950 temporarily.Nifty has bounced from the 78.6% retracement level forming a double bottom.                  ...

Nifty closed in red at 5064 losing 75 points on the cards.The nifty did gave a 1% gap up opening following strong global cues and favorable outcome of Greece election .The markets made their move a treaded sideways as they were anxiously waiting for the domestic treat.But,instead the RBI disappointed the participants by keeping the Repo rate and Cash Reserve Ratio(CRR) unchanged.                                                                                       With this news the trend started unwinding within no time ,players started booking profits,Soon the gre...