Nifty - Now what?

* Writing after a good gap of time.


* 6281 can be one of the resistance. Nifty closing above this level can add further bullishness.


* 5587 can be a good support. (May sound funny, looking at where we are now).


* BB on eod and monthly chart are contracting. Rallies can be sold and corrections can be bought, till expansion starts.


* RSI 2 period on monthly chart is 98+. One needs to hedge long positions.


* Nifty gave a break out above rising wedge, which usually is followed by a throw back which can be a good buying opportunity.


* One can hedge long positions by buying deep out of money puts.

* Happy Navratri. Play garba and daandiya dil se !

NIFTY - Weekly outlook.

* 5345 to 5365 is an important support level for this week.

* 5475 to 5500 can act as a resistance zone.

* 5356.90 is a Monthly Floor pivot.

* For forthcoming days, 5236.30 can be interesting level to be watched if we get weekly closing below 5356.90.

* Buy and hold in panic !

* Move above 5500 can bring in short covering.

NIFTY - weekly out look.

Great Bhalooji gave one level of Nifty long back, that is 5479 as a very important one. Despite of good rally in US market, nifty did not go above 5477.50. I was having overnight short position in Nifty, and still have short position. I added more short at gap up, and covered it at lower levels. Stop loss for pending short position is 5485 spot.

* Last week, 5345 was not breached. Nifty showed good bullishness.

* If the positive break out in Nifty is not a false one, Nifty can immediately hit 5499.87.

* If it is a false break out, Nifty can go down up to 5375.97.

Nifty - weekly outlook.

* One can go short below 5345, with the target of 5275.

* Stop loss for shorts can be above 5350.

No updates till 12-07-09

As I am going out of station,

no updates till Dt.12-07-09.

Take care, Happy trading.

( Please do not call me )

NIFTY - Weekly outlook.

* 5184.92 is one of the support. If nifty does not respect this support, it can plunge upto 5060.12

* Move above 5320 can lead nifty upto 5391.63.

* Nifty looks bearish at this point of time. On 1st July, Thursday, at around 9.30am warning was posted in the shoutbox along with the chart link.

* In the post of 5th June 2010, fears of interest rate hike was posted. http://dharmeshtshah.blogspot.com/2010/06/global-jitters.html

NIFTY - Weekly outlook.

* Nifty formed a shooting star with relatively smaller tail then expected on weekly chart. If it was formed tagging UBB, then it would have been more bearish. There can be an intra week correction.

* Nifty can correct upto 5225.

* Area around 5185 level will be a good long entry level.

* Any move above 5340 can add some 50 to 60 odd points.

* Nifty can spend some time consolidating before going for a big move.

NIFTY - Weekly outlook.

* Nifty is riding up along with Upper Bollinger Bands on daily charts.

* On Thursady, 17-06-10 RSI 2period on daily chart was 98.85, which could be one of the reason of correction on Friday. SS giving sell signal on daily charts which can be ignored.

* We may see a weak opening of the week, which can lure bears to short, but NO SHORTS AT THIS POINT OF TIME.

* One can open fresh longs near 5185 levels, with stop below 5150, with target of about 5335.

* Closing below 5150, can take away further 100 points down.

Very tricky situation.

* Stop loss for shorts above : 5185. There can be a false break out above 5166.58.


* Stop loss for longs below : 4950, yes too far.


* On weekly chart, there are long lower shadows.


* Nifty can find some support near 5010 level.

 I have attempted to present the different shades of nifty.

Visit : http://shades-of-nity.blogspot.com/

gLOBAL Jitters !

* If 4815.56 is taken out, 5600 will be very difficult to achieve.


* If 5015.07 is taken out, nifty can rush towards 4894.63.


* Above 5176, nifty can give upswing up to 5230.


* News regarding interest rate hikes, can bring in negative effect to the market along with interest rate sensitives.

* If 5160.90, is not taken out nifty can go down up to 4173.25. Jaana tha Chin, pahunch gaye Japan.


* Intraday trading calls have been posted at http://indian-stock-pick.blogspot.com/

Nifty - eying 5600?

* Nifty hits the floor of the rising channel and reacted sharply. But I think nifty needs to consolidate a bit.

* Nifty can test 4875 in panic. One can go long at this level, with stop loss below 4850.

 * With some positive surprises Nifty can go up to 5167.05. Above 5180, Nifty can leap up to 5267.55.  

NIFTY - weekly out look.

*Weekly Pivot is 4959.55. Opening on Monday can be around this level.


*Ahead of this nifty can feel resistance near 4970 level.


*I do not expect nifty to shoot up immediately in this week. It may consolidate in the range of 4810 to 5160 in this week.


*It is an expiry week, so beware of volatility.

NIFTY - Weekly outlook.

* Last week's weekly pivot was 5093.78, and weekly closing was 5093.50.

* This week's weekly pivot is 5119.07.

* There can be some ferocious bounce once again any time in this week. It may be just for intraday or may last for couple of days.

* Intra week support can be around 5040 levels. Below this there are chances that nifty can test 4915.

* One can go long above 5127.00, nifty can face resistance at 5167.18 and 5240.87.

* Any convincing move above 5240.87 can bring in short covering. This can be the stop loss for positional shorts.

NIFTY - Weekly outlook.

* Weekly pivot is 5093.78. No longs below this level. Above this, nifty can go up to 5200 + level.

*On daily charts, RSI 5 period is 5.34 and RSI 2 period is 1.30, but it is below 100 day moving average. There can be a bounce from 4937.17 level which can ferociously go up to 5070+ level.

* Any long trade from 4937 levels can keep the stop loss below 4900. Because there are chances that nifty can shed 100 points below this level. Book profit near 5045 levels and again enter longs only if crosses 5093.78 convincingly with strict stop loss of 5070.00.

Nifty near the resistance !

MONTHLY OUTLOOK.

* Monthly pivot is 5279.52. In short there can be weakness below 5280.

* There are mixed signals. Market traded in a very short range in the month of April. Earning season is almost done with. Unless nifty crosses above the resistance line with good volume, no good strength is expected.

* There can be a panic up to 4922.15 below 5159.38. In between there can be a support at 5040.77.

WEEKLY OUTLOOK.

* Weekly pivot is 5274.27.

*Weekly resistance can be 5346.08 and support can be 5206.18.

NIFTY - Weekly outlook.

*Nifty bounced back from lower Bollinger Band and closed above 20sma, which was worrying for bears.

*5257.10 will be very important level to watch. If nifty is able to hold on to this level in next week, it can give more bullish moves in coming days. *5199.40 can be a panic support.

*5351.10 and 5370.30 can be important resistance points. Can see short covering above these levels.

*5265.60 is weekly pivot, hold on to longs as long as nifty remains above this levels.

*Indicators on daily chart is giving buy signal, while weekly chart suggests some resistance ahead. It is an expiry week. Market can be very volatile in next week.

NIFTY - to test 4,863.23?

* Nifty breaking down the supports - can test 4863.23 eventually. ( The floor of the channel)

* If there is any bounce due to any positive surprises, avoid going long unless closing is above 5350.65 in this week. (Can be stop loss for positional shorts).

*RSI 5period of daily charts is 19.70, there can be pullback from lower Bollinger Band up to 20sma. If fails to close above 20sma, shorts need not worry.

*There can be intense selling below 5149.50 in this week.

NIFTY - Weekly outlook.

* Weekly pivot for nifty is 5350.55. Carry on longs above this level.

*Strong resistance can be 5410.85, 5459.95. Be cautious with longs near this levels.

* In any panic situation, 5301.95 & 5241.15 will be one of the supports during the week.

Nifty - weekly outlook.

*Nifty futures respected last week's strong resistance level of 5309.21.

*Weekly Pivot for nifty is 5254.27. Can add more longs above this level. Be cautious with longs below this. Any fresh shorting below 5254.27, needs the stop loss above 5273.00

*Immediate upside target for Nifty spot can be 5347.55.

*Strong weekly resistance can be 5360.97.

*Dow looks weaker. Under any global jitters, nifty is unlikely to break 5179.83 in March.

*Nifty has made a hanging man candle on weekly chart and overbought status on EOD chart can be tempting factor for shorting. But overall situation is such that, nifty is buy on dips.

*For Monday, if any one is overnight short, 5303.96 spot can be the stop loss.

NIFTY - Expiry week, beware of volatality.

• As mentioned earlier, there can be a throw back, which will be good buying opportunity.
• Weekly pivot - 5211.38, Support - 5152.68. If weekly closing is below 5152.68, it can be a concern for the bulls. But any correction upto 5042.67 can be a very good buying opportunity.
• 5309.21 can be a very strong resistance for this week. Above this, nifty can be very very bullish.
• There can be gap down on Monday at 5216.39 level.
• Expiry can be between 5150 to 5200.
  

Nifty goes beyond 5184 !

Today nifty escapes the narrow range ! Thanks to Reliance. Reliance also crossed its one of the resistance near 1050 level. Nifty peaking out of the rising wedge. There can be a throw back, which will be a good buying opportunity for the left outs.

Will nifty go beyond 5184?

* Weekly floor pivot is 5129.05.

*20SMA of 6month, 1month, weekly, daily and even 30min chart is sloping up. (This makes me more bullish on NIFTY)

*Any correction up to 5002 (20week SMA) can be a golden dip for buying.

*5169.55 will be the first hurdle on upside.

*If in near future 5310.85 is taken out, then nifty can get the target of roughly around 5940.

*Fibonacci retracement levels of the recent correction from 5310.85 to 4675.40 are given below.

0.00%	4,675.40
23.60%	4,825.37
38.20%	4,918.14
50%	4,993.13
61.80%	5,068.11
76.40%	5,160.88
100%	5,310.85

NIFTY - weekly out look.

* Nifty can be bearish till it does not hit 5206 in this week.

*For time being, down trend has weakened.

*On eod 50DMA = 5013.68(sloping down), 100DMA = 5008.07, 200DMA = 4744.18

*Weekly RSI14 is 52.53, and LBB (20,2) is 4681.65, one can buy in panic near this level.

*Weekly 20SMA is 4999.95, which could have been one of the reason of resistance on last Friday's budget day. (Another reason could be - on daily chart, it moved far beyond UBB, with RSI-14 near 50mark.)

* Weekly floor pivot is 4915.82, be cautious with shorts above it and with longs below it.

*If nifty does not breach 4755, then nifty can go upto 5184 in March.

I will be off for next week.

Nifty - weekly outlook.

Weekly pivot - 4894.58
5ema on weekly chart - 5053.41
Nifty can take support near 4747.20.
Failing to do so can lead the fall towards 4624.88.
20 week MA is 5030.60. Bulls can give a try to get weekly closing above it.
To resume the uptrend in next week, nifty needs to go above 5311.00
Weekly trend has become bearish.
There can be very volatile movement in next week.

NIFTY - weekly out look.

Weekly Pivot - 5240.75

If nifty is not able to bounce back from 5181.00, it can test 5109.80. Panic situation can lead it towards 5050 levels.

On upside nifty has the resistance at 5288.71, 5311.95. Nifty can be very bullish above 5324.22. Above 5324.22, it can test 5371.70.

20 week moving average is 5010.00.

Nifty can continue its uptrend till it is above 5812.00 in this week.

GOLD point & figure 60 min.

GOLD point & figure chart 60min and daily.

Gold 60 min giving break out !In International market can hit US $ 1168 odd levels very soon.

Gold daily point & figure chart.

I expect Indian gold mini feb contract to hit 17,224.00 soon.

Nifty near the resistance !

Nifty spot : It has been trading in a very tight range.

Weekly Pivot is 5240.90
Supports can be 5205.22, 5170.95. Think twice of holding longs below 5165.00
Resistance can be 5284.28, 5314.70. Think twice of holding shorts above 5325.00

Gold mini febcontract.

A happy new year !