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...