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...