Technical Traders

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 ...