Technical Traders

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...