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.