Technical Traders

Nifty closed in green at 5149 with marginal gains of 7 odd points.As expected expiry happened to be below 5200.Past few weeks markets were struggling in a tight range of 5200 and 5090.In this series  markets have made up much of the losses in the previous month.We are feeling a sense of peak skepticism with mildly bullish bias.But in view of the domestic and global turmoil longevity of this rally is suspected.I strongly feel that situation will get worse before getting better.                                                                          The reason for my being bearish is due to seasonal cycle theory.Our markets f...

Nifty closed in green at 5120 with marginal gains of 6 odd points.The overall market breadth was negative with 716 advances to 736 declines.The market gave an absolutely flattish opening with no gap surprises.The markets lingered whole day sideways in an extremely tight range.,though it did show some oscillation within the range but there wasn't any significant breakouts.In view of expiry the markets are expected to remain choppy for the remaining days.We might hold 5090 level for this series.          Technically warning signs of weakness have started appearing on the charts.We could take these signals as an indication to book some of our profits.If they show strong sign of reversal then markets expected to move down to attain support.The  nifty is having a good support at the 5000 levels ,successful violation on daily charts would trigger bearish concerns and would impart greater weakness to the markets.Hence for short term 5000 level h...

Nifty closed in red  at 5114 shedding  31 odd points.The markets open with a unexpected gap up even though the global cues were mixed with a negative bias,the SGX NIFTY also was showing a cut of 15-20 odd points in the pre-opening session.After mingling for sometime markets collapsed giving off the gains finally ending in red.This was expected as i advocated yesterday only that markets will be choppy,today markets managed to give a close above 5090 which gives us a reason to continue with the bulls.Though markets ended negative the broader market stood positive with 765 advances to 697 declines.                                                 Technically market is facing a hurdle at 5200.It is facing a resistance of a trend line generated from ...

Nifty closed in red at 5146 after nominal 18 odd point loss. The overall market breadth remain negative with 696 advances to 766 declines.The markets opened with gap down of nearly 65 odd points on the board,following strong negative global cues.The second impact was of rupee depreciating further to new lows.Though after a weak opening markets managed to cover initial losses.From past three days it is evident from the charts that 5080 level is a vitalizing support in the further movement .Successful buying around these level has been observed consistently,leading to strengthening of the bulls.The carts also are depicting the same scenario.                        But taking a look at the larger picture that our economy is facing serious financial turmoil,also our monetary policy need to undergo reformation,which is expected to be subsequently supporting for our economy as wel...

Nifty closed in  green at 5165 after scoring splendid 65 odd points on the cards.The market breadth remain positive with 926 advances to 513 declines.Markets witnessed a subdued opening ,very much stuck in tight range.Till mid session markets lingered in the range,then suddenly came a spree of buying taking the markets across the 5130 range up to the day high.,With this move the participants made an attempt to move forward with the trend .Now nifty is expected to trade higher with initial resistance at 5200 followed by 5400,and is expected to take a support at  5100 and 5050.                                          If the markets move with the same vigor and valor ,then we might soon see 5400,and probably crossing it moving forward to 5600.The Markets have taken support of th...

Nifty  closed in green at 5120 with the marginal gains of 17 odd points on the cards.The overall market breadth was positive with 996 advances to 552 declines.Markets gave a muted opening with absolutely no surprises,as advocated yesterday nifty gave a range bound session.This skepticism may continue for few more sessions.                       The fact is we are bullish  but we are literally lacking the catalyst needing to fuel the trend.We need to accept this and move on ,since  frequently attempting to reckon the further trend on the volatility basis would be futile.Nifty resuming the trend is inevitable ,but we should offer the markets to adjust to the current global ,domestic,financial as well as political turmoil.                         ...

Nifty ended in green at 5103 posting a gains of 40 odd points on the cards.The markets opened absolutely flat with no gap movements ,holds support at 5050 levels and rises higher.The markets found strong buying around the 5050 levels,markets have tested this level a number of times in past few sessions,increasing its validity.Now it is expected to rise further accomplishing the 5200 levels.The weighted expectations of the participants also is indicating towards the same direction           Today the overall markets breadth was positive with 752 advances to 692 declines.The markets will need stimulus to move ahead strongly,On account of the RBI policy out come bank-nifty is expected to slightly under perform.The  downside seems to be capped at 4950 temporarily.Nifty has bounced from the 78.6% retracement level forming a double bottom.                  ...