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 ...

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 ...