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...