Technical Traders

Nifty bounced back with the splendid gain of 116 and sensex around 345 points,the global markets also supported with no negative news.The overall market breadth was positive with 1145 advances to 367 declines.The nifty has taken the support of the 200 DMA and is expected to trade higher,if nifty continues such move then it will rise further where it will face a resistance at 5500,violating the falling channel on the upside.This will generate more bullish sentiment where 5630 would seem approachable.here comes the crucial point where  it has to break the previous top successfully  attributing more evidence to the intactness of the previous bull rally.                                                        ...

Nifty opened gap down in the  morning on account of weak global cues ,it violated the 200 DMA went down to 5136 and took of the lows gradually  to 5178 closing today's contract.the market breadth was positive with 844 advances to 637 declines. As it is due to expiry the markets were to remain subdued ,the global markets did the work of  adding oil to fire.Nifty  has maintained the 200 DMA levels as of now ,but under such a situation, the immunity of the market seems vulnerable.Hence on account of this we should allow some leeway to nifty.                                                                         ...

Nifty closed in red giving off 49 points,overall market breadth remained negative with mere 393 advances to 1115 declines.The market opened with  gap down  and rose a bit to cover the gap but it could not sustain at the highs  and then gave off. Whole day movement was quite sluggish but weighted to the bearish side ,later the market dipped into 5170 levels following a small bounce,eventually closing today's session.                                                                        Still the nifty is holding above the dynamic levels and market sentiment is gradually turning vulnerable.In such a scenario the indecisiveness ...

Nifty closed in green scoring 59 points ,after bouncing from the 200 DMA levels, inspite this the overall market breadth was negative with 630 advance and 860 declines.Todays nifty has managed to sustain above the key support levels,it has formed a doji on the daily charts resembling dire indecisiveness.Nifty seems to be entangled in the tug-of-war tussle between bulls and bear, the winner of which will tread the further path.                                                                            Keeping in mind the expiry ahead it would rather be safe to take intraday position than being biased on any one side on pos...

Nifty tumbles down shedding 100 points,the overall market breadth was negative with mere 349 advances to 1143 declines.The markets opened on a flat note with no fireworks on the either side.The nifty closed below the 20 and 40 DMA,but is still above  the 200 DMA, maintaining a short term bearish view.Today it has violated and closed below 5214 level which was 38.2% retracement level of the preceding bull move,heading its way down to the 200 DMA and 5080 levels,which is 50 % retracement level. Also nifty trading in a falling channel is testifying its short term bearish phase.                                                                     ...

Nifty closed in green with considerable gains of 49 points.The overall market was positive with 776 advance to 684 declines. Inspite of the gains nifty could not cross 20 and 40 DMA levels and  has closed below it for this week.Markets have been posting a negative close for the fifth consecutive week.On daily charts nifty has formed a bullish harami pattern,but how much the pattern will work is matter of chance.Markets as of now are looking both ways unless breakout on either side side is confirmed.                   For this week the nifty successfully sustained above the 200 DMA,the violation of which will open up the downside alternatives.After violation on the downside nifty is expected to find support at 5080 levels which is 50% retracement levels of the prior bull move .If this levels is violated on closing basis then bears seem to takeover the control on nifty and are expected to ride down...

Nifty closed in red shedding 136 points,the overall market breadth was negative with 310 advances and 1190 declines. On its move upside in the morning it managed crossed the resistance  of 5373 levels marginally,from where the bears started hammering the bulls which eventually got worse on its way down.On daily charts nifty has closed below its 20 and 40 DMA levels raising bearish concerns.On its way down it has given all the previous day gains and ended lower ,but has managed to stay above the 5214 levels which is the 38.20% retracement level of the previous bull move                                                                   Now everybody would be eyei...

The nifty closed in green with 90 points on its board.As said yesterday if the nifty is able to cross the 20 and 40 DMA successively then market shall be headed upward.Today nifty has crossed the 20 and 40 DMA on daily charts successively paving the way further for the bulls.Today it has closed just below 5373 which is 23.6% retracement levels of the previous bull move.If all goes well overnight and the global cues too being supportive tomorrow nifty is expected to witness a gap up opening.                                                                                      After reverting from the previous highs of 5360 ,nifty has been trading in a falling channel pattern.Hence nifty is expected to face resistance at the upper band of the channel.If it successfully violate...

Today nifty closed in green with just meagre gains of 18 points, as the day progressed  markets experienced a see-saw ride.The nifty opened in green rose a bit and faced resistance around  5300 levels .After hovering  at these levels it start sliding down gradually giving it off all again. Nifty approached yesterdays low which is 5234 levels ,following which came a buying spurt ,which in no time took nifty again in green.This time it again failed to break 5300 levels following a consolidated close.                                                                            After the overall ride the nifty i...

The nifty closed in negative shedding 61 points and  will continue to trade lower in coming days . It has violated the 40 DMA on daily chart and closed below it.nifty would find an immediate support at 5175 levels i.e. the 200 DMA levels which remains the last hope for the bulls.The overall  market breadth  remain negative with 455 advances to 1019 declines.In coming days if nifty fails to trade above the support of 5175 zone then the bearish alternatives will open up and nifty might go upto 5080 zone which is 50% retracement level of the previous bull move.                               Although on daily charts nifty has broken 20 and 40 DMA levels respectively on weekly charts 20 and 40 WMA still remains intact.On daily charts the momentum indicator RSI has entered below the 50 levels supporting  a bearish environment

Despite positive global clues nifty opened on a flattish note .Nifty was maintaining  its buoyancy for the budget to roll out,but as time progressed the budget was not able to impress the market participants in any way and got dragged into red.There was high selling observed as nifty approached intraday high levels and closed shelling  63 points . Also the new equity scheme and reduction of STT on delivery segment could not lure the participants.                                                                    This is the consecutive 5th week markets closed in red, in addition on daily charts nifty has crossed  and closed below 20 DMA levels cr...

Gold 5th April contract is trading with a negative bias after violating the rising channel.it has found support around 27320 levels but is not able to sustain 20 and 40 EMA .MACD has also given a negative crossover and presently is below the zero level indicating weakness.The RSI on the daily charts has also broken the chaannel and is currently below the 50 levels The overall scenario for gold seems to be sideways to bearish untill support levels are being violated on closing basis.Gold will face an immediate resistance at 28120 levels in short tern.                Trader are therefore suggested to trade with a cautious view until the picture gets clear enough

In response to the railway budget markets gave a flat  to negative opening ,as this is an event full week market is looking forward for the outcome of various policies.Today the markets were already in a dampened mood waiting for the result of RBIs rate cut policy,which remain unchanged following which the market started falling like a downpour.From morning the market breadth was negative with 423 advances to 1071 declines.On closing basis nifty has closed above 5373 which is 23.60% retracement level of the previous bull move.Currently nifty is trading above the 20 , 40 and 200  DMA levels.violating these levels will open up bearish alternatives .                                Traders are suggested to trade with a cautious view ,since the finance minister is going to spill the beans tomorrow.Until the the consequences of the upcoming news regarding budget is clear enough WAIT AND WATCH strategy ...

Today nifty opened with a gap up and sustained the gains.It  has taken support and is trading well above the 200 DMA, now it might face a resistance at 5450 levels,violation of this level and close above this will boost the bullish sentiment immediate target for nifty would be 5600-5700 levels.the coming event of BUDGET will definitely have a significant effect on the markets.Traders are suggested to trade considering evrey news that comes prior to budget.                                 

As expected nifty open gapped up on positive global cues ,however it faced a resistance  around 5434 levels and couldnt sustain the gains.On 7/02/2012 nifty took a support of the 200 DMA and closed in green.taking note of this bulls showed a tremendous  comeback as next day nifty opened gap and closed at the dayhigh levels.bullishness of nifty still remains intact,this week seems choppy since the budget is yet to spill the beans.Also MACD is trading above the zero line giving more weight to bulls.                                                                                  ...

NF opened on a flattish note,in its intraday journey it managed to close with marginal gains.On the daily chart nifty has closed just below the resistance of 5256,showing slight signs of optimism.The market sentiment remains more volatile ,any bad news is enough to drag it to the lower levels.News on fuel prices ,crude oil are likely to be major concer for the markets in coming days.Big march event the "Budget"is on its days to come.

Today nifty future moved as per the saying" BUY ON RUMOR SELL ON NEWS ".The NF rallied to 5428, which was 23.60% retracement level,where it encountered resistance followed by deep selling.Nifty Future could not sustain 5300 and crossed 5256,the 38.20% retracement support on daily chart.The NF has closed below an important support level,this has triggered more weakness in market.The NF should take a support of 5120 which is 50% retracement level and bounce bank to keep the previous rally intact.Violation and close below these levels will give an indication that bears have taken control and take the market to lower levels

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