Technical Traders

Nifty closed in green at 5248 after gaining 39 odd point on the cards.The markets witnessed a small relief on the account of global cues,also the earning results of few stocks contributed to the move.Going forward today ,markets faced a resistance at 5250-70 zone,more on that ,markets were not able to sustain these levels giving off  partial gains.The markets closed in an attempt  to recover the gains.The overall market breadth was positive with 857 advances to 625 declines.                                                                   The markets are in short term consolidation phase ,as we are witnessing so.From past few months markets been range bou...

Nifty closed at 5190 with negligible gains.The markets opened in green in line with the global cues,later in the afternoon it wobbles  leading to an intraday low,the markets responded to spain being downgraded.,but markets did came off the lows soon.The overall market breadth was negative with 586 advances to 885 declines.Although markets receded lows but failed to close above 5200 giving another instance of rising uncertainty                  The markets are trading below their short term DMA levels from past few days indicating short term bearishness.The nifty has also formed a doji pattern on the daily charts reflecting growing uncertainty amongst market participants.The markets seems to be gradually loosing off steam day by day.We are now goin through the earnings season, from which we expect a positive king of news flow.Many companys of various sectors are in a process of declaring their quarter ...

Following global cues markets started on a positive note,further  going markets faces strong tussle between the bulls and the bears,which lasted till closing of the session.Consequently nifty closed at 5189 in red with ,mild loss of  13 points.The overall session was quite sedated with overall negative market breadth with  587 advances to 876 declines.In view of the expiry markets were expected to be more volatile ,but since both bulls and bears gave a fierce tussle,markets stuck in a narrow range.                                                                                 ...

Nifty closed in red at 5202,losing 20 odd points on the board.The market breadth stood in the favor of the bears with 496 advances to 965 declines.The markets gave a sedated opening ,with absolutely no fireworks.The global markets too were  stable to green.Markets were trading in a muted session keeping itself afloat 5200 levels,till the news of S & P downgrading India to negative,  strike the markets.               The markets responded with a cut of nearly 1% in the index immediately,it did recovered from its low,but still bears made another attempt to drag down the bears  to the previous low.Technically markets bounced making a double bottom at 5160 levels.The bounce took the markets piercing 5200 levels,where,later it just managed to stay afloat 5200 levels closing today's session.Considering expiry choppiness is expected .The bears will make an attempt to expire this series in sub 5150 levels,In s...

Nifty closed in green with a  mild gain of  22 points.But the market breadth was negative to 680 advances to 785 declines.From past many weeks markets are  consistently bouncing off  from the 5170-80 levels,and  today also markets followed  the tradition.TCS results came up as afloat for the markets,but the question arises till when?.Beside this rest all  things are having a dampening effect.                                                                                               ...

Nifty witnessed a gap down opening,the overall market breadth being broadly negative with 357 advances to 1121 declines.A bearish opening was expected,but the markets said it clearly what it had to slaughtering 90 odd points.The index experienced a 2% cut in a single session.This fall poised the markets to renter in to the wedge broken 2 days ago.Today's move made the breakout fail and hence the pattern,with this stance i smell of a bear trap ,which could eventually lead to a strong bearish  reversal of  sentiments.                                        In such circumstances  i expect the markets to trade lower in coming days,also approaching the 200 DMA would not be a surprise.But this time chances are more that the picture might change.Holding this support this time ,I doubt ...

Nifty closed in red shedding 42 points ,the overall market breadth was negative with 516 advances to 984 declines.After a gap down opening, nifty lingered in a very stringent range of 5335 and 5313 till mid session .Later it cracked down,it somehow managed to close quite above the lows.This fall and bounce move is a good reflection of peak uncertainty,the volumes too were low indicating low participation                                        The sub 5300 closing is likely to trigger a bearish sentiment,also now nifty has shown a downshift of range where 5305 will act as a resistance and 5256 as a support in intraday going forward.Also the Reliance quarter results were yet to come out this crackdown could be expected as a presumed reaction..The quarter results came up as a disappointment,which is l...

Nifty gave a sedated opening,with absolute no fireworks with flat market breadth of 763 advances to 737 declines.The markets were in limbo hovering in sub 5300 levels for the initial 1 hour.Later it made a move to breach 5300,retraced again to the support and took off gradually.The markets did rally but the movement was unable to reflect any strength or enthusiasm.As i said yesterday ,market need some good ingredients to fuel the rally.Today the markets halted at 5340 ,the same levels discussed yesterday.The point is ,markets are in a limbo,we got a breakout,but it fell into the broad trading range of consolidation,where markets have been trading past many days,hence i am skeptic about the breakout.                    If markets are  short term  bullish ,they need to submit an evidence to that extend.Technically if markets are able to violate 5340 levels successfully with good volume strength,the...

Nifty witnessed a strong gap up opening on account of strong global cues.The whole market breadth was strongly positive throughout the session with  1012 advances to 329 declines.The markets faced a resistance at 5340 levels,from which the rally started fizzling off.The intraday movement of the markets resembled a falling curve.On its way, it penetrated an intraday support levels of 5300,but somehow managed o settle above 5300 before closing,maintaining the bullish sentiment                                                                       Today's move has violated the upper boundary of the wedge indicating a positive breakout.The violat...

Nifty rose gaining 63 odd points with overall  positive market breadth with 862 advances to 609 declines.The reason for the cheer was the favorable outcome of RBI policy.The RBI cut the repo rate by 50 bps to 8% for which markets were being awaiting for past 3 years, while the CRR stood unchanged  at 4.75% effect from 17 April 2012.Rally in the European markets pushed the markets higher ,further boosting the sentiments.                                                                                               ...

Nifty ended in green with marginal gains of 18 odd points .The market breadth was positive with 858 advances to 624 declines.The markets opened in sub 5200 levels traded around 5200 for most part of the days ,but sustained.Nifty managed to keep its head above 5200 which is good for the bulls,but the question arises until when it would be able to sustain the support?                                                                    Current scenario is  markets are moving in the house with hard ceiling and soft floor,Hence fear of downside generates great concern.If at all the dynamic support is broken the downside seems limited as of now.For the downside 5...

Nifty closed in red with a downpour of 70 points.The nifty witnessed a flat opening followed by mild buying which encountered  a good resistance at  5300,but failing to cross the resistance,markets initiated a downpour.Infosys quarter results triggered the move downward which was followed by profit booking.The whole market breadth was strong negative with 543 advances to 935 declines.                                                                                                     ...

Nifty ended in positive scoring 50 points on the scoreboard,the market breadth was strongly positive with 953 advances to 513 declines.The market witnessed gap up opening ,and following the day later breached 5250 levels and sustained above it.This movement of the markets have provide a mild strength to the bulls to move ahead.The February IIP numbers grew by 4.1% which was lower than the expected,still markets were able to sustain the levels.                           The nifty will face an intraday resistance around 5340 zone,as the levels fall into the upper premise of the wedge.Going further it is likely to halt around 5370 zone ,which holds the 23.60% retracement level.The markets are around the 20 and 40 DMA levels.The oscillator stochastic s has given positive crossover on daily charts ,the MACD is below the zero line but its still afloat an  uptrend...

Nifty ends in red losing 16 odd points,the market breadth being negative with 604 advances to 873 declines.Today market witnessed a volatile session ,both the intraday day support and resistance were tested.Nifty managed to stay above 5210 from where it had bounced yesterday.As we move forward nifty is pushed in a narrow range where a breakout becomes evident.                                                                                               Since nifty is being trading in consolidation phase for past few weeks ,we ca...

Nifty closed today's sessions with the gains of 9 points.The market breadth was negative with 674 advances to 782 declines.After a mild selling nifty  bounced from the 5210 levels which is 38.2% retracement level of the preceded bull rally.There is not much to speak ,while markets continue their movement range bound.I doubt nifty to sustain these levels in coming days amidst global weakness.As we move forward the range are getting narrowed ,hence counting on nifty would be futile.                                                                            Breakout in either direction will lead us further.if we get an ...

Nifty witnessed a gap down opening following global cues and traded lower in today's session. shedding 89 points.The whole day the market breadth was negative with 493 advances to 1005 declines clearly indicating persistent weakness.Today's fall can be considered as a testimony to the bearish pattern formed on the daily chart.                                                                       Nifty closed below the 20 and 40 DMA indicating medium term weakness, hence the 200 DMA levels would be very crucial in the move ahead in coming days.If the markets sustain the dynamic levels there emerges a hope for an upside moves,violation of the levels will open up up bearish alternatives.                    ...

As expected nifty closed in red with the loss of  35 odd points.The nifty opened with a gap down  and traded lower whole day ,the overall market breadth was also negative with  734 advances to 751 declines.The immunity of the market seems vulnerable ,still the markets are afloat the 20 and 40 DMA . Also the nifty is moving in a pattern hence the intensity ,the volumes,the participation will presumably be low.                                    On the daily charts nifty has created somewhat  an evening star. Here i would like to make it clear that the pattern is more of an approximation to the evening star, which is a bearish reversal pattern.Adding more to it ,the size of the candle clearly reflects low participation and amplitude of the pattern,hence there is not much to count on it.Also we know t...

Nifty closed in green with gains of 40 points,the overall market breadth being positive with 1019 advances to 505 declines.The nifty  gap up opening following with substantial gains,later nifty faced a resistance on the upper side at around 5378 levels,where it tested the resistance of the upper boundary of the falling wedge.Currently it is trading above the 20 and 40 DMA levels .Since market has tested the resistance it is expected to trade lower continuing the range bound move                                                                                      ...

Nifty closed in green with  the gains of 22 points,the overall market breadth was quite positive with 1107 advances to 403 declines.As we witnessing the movement of nifty in the falling channel,  it is quite possible that it might face a resistance at the upper line of the channel.Until market is moving in the channel it might be apt to take intraday positions i.e. trading the intraday volatility.Using this we can benefit from both longs and short as well.        Currently markets will be sideways within the bands of the channel,if we sustain above the 200 DMA then we can expect an upside breakout,and if markets successively violates the channel to the upside we can retest the previous highs of 5630.As of now we can expect a limited downside for short term.keeping this scenario in mind trade should be initiated. Upside key levels :- 5500 and 5630 Downside key levels :- 5150 and 5080          ...