Technical Traders

Nifty registered a loss of 26 points on the board.As expected markets gave a wide gap down opening on strong negative global cues and Rupee depreciation.In later part of todays session nifty however managed to recover some of the losses ,while the rupee also coming off from its new lows.The overall market breadth breadth was negative with 648 advances and 811 declines.                                                         Today was an expiry session and hence choppiness was a normal scenario.Well,we have registered a sequential third time negative May month.According to the seasonal patterns thiscuold possibly the trigger markets to forming a new low in coming quarter session.Going further 4720 and 4535 are the levels to be looked upon.The current global turbulence is just becoming the ingredient for the impending move of the markets.   ...

Nifty today tested posted a loss of 40 points on the board.the overall market breadth was negative with 461 advances to 1013 declines.Going further the currency crunch came as an addition to the woes.Markets currently are in a state of great indecisiveness,sentiments dampen and rising global uncertainty.the overall outlook of the market looks bearish,surely it would not come in a straight line ,but will occur as a result of series of events.                In view of the expiry choppiness in markets was expected.Moreover  markets did not had a healthy earnings season this quarter,hence expected to cast its shadows in coming quarter.Nowhere the markets are in line with the expectation ,in such circumstances we need to offer markets some leeway.Let the market decide where and how it wants to go,our job is to just follow it.                               ...

Nifty showed a gap up opening op around 40 points on slight dollar correction as well as good global cues.The market breadth was also positive,after its initial impulse it traded sideways in a range occupying the noon,The market was hovering in the range till then the fall came ,by that time rupee proceeded towards more depreciation.The currency crunch is becoming a major concern these days .As per the current scenario rupee could depreciate to 56.5 to dollar.Also the markets itself are looking quite vulnerable,in addition we didn't have a healthy earnings season .                                                                      The markets closed in red at 4860 shedding 45 odd points on the cards.The market breadth was negative with 566 ...

Nifty opened in gap up following strong pullback on last Friday.The movement then was sideways following close of today's session.Nifty gained 14 points on the cards and closed just above 4900 level.The late sell off in the markets came due to further depreciation  of the rupee.The broader market was positive with 910advances to 541 declines. We are facing a currency crunch which will be vitals catalyst considering further move of the markets.                                        Currently markets are trading below their 20 and 40 DMA ,markets going further are expected to take a halt at 4970 and 5050 on the upside.We may enter fresh shorts at these levels as current scenario of the markets indicates further downside possible.Till then we would trade as per the indicators ,and money is lik...

Nifty closed on Friday at  4891 with the considerable gains of 21 odd points.At opening Nifty have witnessed a sharp gap down opening  of 80 points on nifty following strong global cues in addition to the Rupee depreciating further.The markets took a support of the 78.6% retracement  of 4780 levels.At this point the bulls rushed in and took the markets to days high in the progressing day,and eventually closing the gap.The markets did closed strongly with a bounce but still the broader market biasing bears with 663 advances to 802 declines,leaves a thin line of skepticism about the bounce.          Since the closed with strong pullback on the last day of the week,and markets still above the support line ,markets are expected to trade higher where they are likely to face resistance at 4979 and 5050 levels.Each of these levels aould be used as an opportunity to enter new shorts subject to we receive a weight of evidence that market...

Nifty opened in green with a shoot up of nearly 40-50 points,this was due to slight correction in dollar,The dollar in the day progressing retained back the high price.De to this markets were not able to hold the gains.Today's movement was like a sine wave traversing through a median line.Both the participants i.e. longs and shorts had an equal chances of making profits.                                              Nifty today's bounced back from the 4850 price where it encountered a spree of buyers taking it back to the higher levels in intraday.The markets are distinctly  below all types of  vital moving averages.hence short term sentiments remains bearish ,there are possibilities of pullback rallies ,which could be successfully exploited to enter fresh p...

Nifty gave a burst-down of 84 points closing at a new low of 4858,as said earlier markets was expected to give such kind of a fall,whereas today's movement has empowered the bears leading the markets to a possible target of 4770 which is 78.6% retracement levels.Whole days the markets were strong negative ,while the broad markets stood undoubtedly in the favors of the bears with 429 advances and 1038 declines.Whatever the analysis to be done daily will say the only thing that we are short term bearish .Moreover the situation is getting worse and worse day by day.                                                         The days started with a firecracker on rupee depreciation.The currency crunch is becoming the ma...

Nifty ended today's session in green with considerable gains of 35 points on the cards.The nifty gave a gap down opening but successfully filled the gap after crossing 4900 levels in the current session.This has led to a formation of a piercing line pattern on the daily charts.This bounce may really be a kind of just a short covering ,as it has not shown any signs of aggressive buying.Till then i maintain my view of sell on rise.                                                           Well in intraday nifty faced resistance at around 4960 levels,violation of the resistance will lead the markets higher to 5050,where it is expected to take a halt.Going further i expect the markets to trade range bound ,...

Its another down day for the markets ,after an initial rise ,the participants rushed to sell,they  are not letting even a small rally to sustain ,markets closed at  4907 with a loss of 21 odd points.The market breadth stood  undoubtedly in the favor of the bears with 484 advances to 994 declines.As advocated in previous blog ,sell on rise is the call for these markets,until reversal of  trend is proved with enough weight of evidence.                                                    This fall from the top is continuously showing lower high and lower lows ,implicating vital characteristics of bearish trend.Also i would like to bring to your notice that the technical indicator are trading in the oversold region,keeping...

Nifty today closed in red at 4928 after losing 37 points.Nifty gave a mild gap down opening ,later it tumbled to 4900 levels,after declaration of the March IIP data.The market breadth was negative with 498 advances to 990 declines. Matter of fact is markets reacted to the news negatively ,but with a low intensity,also the lack of participation could be a vital reason.The markets were able to sustain the 4900 levels,after which a rally was seen which took the nifty temporarily into green,the  nifty could not sustain at these day high level,then corrected followed by close.                          This week also we closed in red indicating looming weakness amongst sentiments of participants.In such  a scenario markets are expected to trade lower and all intermediate rallies could be used to enter shorts.On the daily charts markets are likely to face resista...

Nifty closed in red at 4965 with a mild loss of 9 odd points.The broad market looked somewhat mixed with 651 advances to 809 declines biased to bears.Markets after giving muted to flat opening rose nearly 60-70 points in response to the recovering rupee from its lows,The incoming news flow did create a wave which took nifty above 5000 levels ,but the stringent control of the bears did not let the wave lead too far,in fact after hovering around the day high for quite some time bears started their hunt ,leading the markets to day lows following the close of the today's session.                                                              Today's  session was a range bound movement,but so...

Nifty closed in red at 4974 after shedding 25 odd points.The broader market favored the bears with 454 advances and 1028 declines.Today's the markets experienced a see-saw ride with markets moving above and below 5000 levels.,but finally the session was done with nifty ending in sub 5000 levels,another minor victory for bears.As it was an oscillating session for markets it provided intraday traders with opportunities on both sides.          Well, the markets are resting just above 4950,which is 61.8 % retracement move of the prior rally.If markets reverses from these levels then we can expect ABC wave pattern to come into effect,which carries an objective of 1100 points on the upside,please note that this would be short term outlook,hence things will only take the shape as and when we move .Further if we do not sustain then levels of 4700 seems approachable,in worst case even 100 % retracement of the previous bull move can also been observed.The...

Nifty closed in blood red after losing 114 odd points at 4999.The overall market stood in the favor of the bears with 462 advances and 1006 declines.The nifty completely negated the previous days move as the bears pounce again and took control over the markets .The global as well as domestic scenario is adding more woes to the ongoing uncertainty,on the other side we are facing the currency crunch as well as crude price becomes the hotpot.Well the market are on their way down, we should respect it and go with it.                                                         Today's fall is seeming more like an indication of markets approaching 4740 levels.With the 114 points fall a bearish engulfing pattern has developed...

Nifty closed in green at 5114 levels with gains of 28 points on the cards.The nifty opened with a gap down following strong negative global cues.A lot of global turmoil will our markets be facing in coming days.After the gap down opening markets started playing a muted show,then came some relief in the afternoon on the much discussed GAAR issue.The GAAR has been deferred for a year.Markets heaved a sigh of relief leading  to climb the ladder.The markets stood partially in the favor of the bulls with 783 advances to 672 declines.                                                                            The initial ga...

Nifty closed in red at 5086 giving a downpour of 101 points on the cards.The nifty gave an expected sedative opening.The markets were feeling great pressure from the domestic as well as the global peer markets.Since markets were waiting for an impending breakout ,Fridays fall was inevitably,participants had made up their mind and were ready for the down-slide.The market breadth stood completely in the favor of the bears with  286 advances and 1201declines.                                                   With the fall markets have violated a dynamic and significant level of 200 DMA,which could prove great substance to lead the markets downward,As said in my earlier posts that markets are likely to touch 5080 levels,as it did,the point her...

Nifty closed in red at 5188  levels after losing 50 odd points.The market breadth stood completely in the favor of the bears with 411 advances to 1032 declines. The nifty opened gap down on global concern,made an attempt to stay above 5211 ,but failed to,it went for another attempt ,but this time it fizzled off and approached an intraday levels,this nifty somehow managed to close just off the lows.Today's move was a clear reflection of increasing weakness,nifty wont hold on to higher levels until fairly justified by the market factors.Every rally is likely to get sold off,since markets are trading in stringent boundaries.Current move may lead the market to lower levels.                    Sine again market has given a sub 5200 close,concerning weakness ,leading markets to a stable level of 5080 ,the markets likely to approach 5000 to sub 5000 levels in worse case scenarios,in such  a ca...

Nifty closed in red at 5239 with a loss of 9 odd points.The markets opened in green following global cues,the sensex  gave a rally of more than 100 points .The nifty lingered at the days high for quite sometime,then eventually broke down.As advocated in Mondays blog ,that nifty did found  resistance in 5250-70 zone which was followed by a selling.Here point is we know that markets are range bound ,investors/traders should always search for a valid reason for the market rallies,since under such circumstances markets are more sensitive to news flows,also markets are short of crude ingredients which can eventually direct the markets.                                                           ...