NSE Nifty EOD Analysis - Continuous

On Friday, Nifty closed 0.3% up at 4587. Nifty is showing immense resistance between 4585-4650 level. We have seen very narrow and range bound movement in Nifty on last trading session. My immediate target in Nifty 4650 has almost achieved on Friday as Nifty made an intraday high of 4637, 13 points short of my target (see my last post). Now a couple of more closes above 4509 will show further upward levels like 4789. On the other hand, respect of the current resistance level and a close below 4509 will warn immediate trend reversal and will indicate retest of lower support at 4100. Flat and negative momentum indicators suggest lower or rangebound moves possible in near term.

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Nifty Pivot Levels For Tomorrow:
R3 - 4703, R2 - 4670, R1 - 4629, Pivot - 4595, S1 - 4554, S2 - 4520, S3 - 4479.
Intraday trading idea: Buy Nifty future if the spot trades and sustains above R1 for target of R2/R3, sell Nifty future if the spot trades and sustains below S1 for target of S2/S3. Cheers!!

Regards

Indrajit
 
Nifty Trading Outlook For 9th June 2009

In my last post I forecasted to a down or sideways move. Nifty tanked 157 points to close at 4430. Fresh short built up seen in Nifty future, Suzlon, Tata Steel, Unitech and DLF, whereas Reliance, SBI, RNRL, Reliance Capital and RCom plunged on account of profit booking.

Nifty Technicals: 5 DMA support has been broken today and 5 DMA resistance now exists at 4490. Other DMA supports for Nifty now exist at 4369 (13 DMA) and 4218 (21 DMA). I was warning all my readers about very high weekly RSI-2, and the high RSI-2 has initiated this sharp fall. Daily RSI-2 is now at 11.77, in sell mode and in strong bearish zone. Weekly RSI-2 at 53.23, in sell mode but in neutral zone. Overall, , whereas again a close above 5 DMA will confirm sideways move for now. Negative momentum indicators like Stochastics and RSI indicates lower to sideways move possible in the near term. Cheers!!

Nifty Pivot Levels For Tomorrow:
R3 - 4766, R2 - 4689, R1 - 4559, Pivot - 4482, S1 - 4353, S2 - 4275, S3 - 4146.
Intraday trading idea: Buy Nifty future if the spot trades and sustains above Pivot for target of R1/R2, sell Nifty future if the spot trades and sustains below S1 for target of S2/S3.

Regards

Indrajit
Analysis On Indian And US Stock Markets, Free Nifty Trading System, USA And UK Index Charts
 
Nifty Trading Outlook For 10th June 2009

Nifty retraced mostly of its yesterday fall and closed 2.7% higher at 4551. Most of the index stocks rallied today and the bulls are back with a bang. Fresh buying seen in Suzlon, DLF, Tata Steel, Unitech, ICICI Bank and L&T, whereas Nifty future, Reliance, SBI, RCom and Reliance Capital rallied on account of huge short covering.

Nifty Technicals: Daily RSI-2 is now at 62.79, in buy mode and back in strong bullish zone. Weekly RSI-2 at 84.83, in sell mode but in strong bullish zone. For tomorrow Nifty upside first resistance will be Yesterday's high at 4611 and secong resistance will be at last Friday's high at 4637. First support will be at 5 DMA at 4515 and second support will be 13 DMA at 4397. Overall, bearish momentum indicators suggest down or sideways moves can contiue in near term and Nifty can stay in the range of 4650-4400 for some time. Go, positional in Nifty if you get any closing break of this channel. Cheers!!

Nifty Pivot Levels For Tomorrow:
R3 - 4818, R2 - 4690, R1 - 4621, Pivot - 4493, S1 - 4423, S2 - 4295, S3 - 4226.
Intraday trading idea: Buy Nifty future if the spot trades and sustains above R1 for target of R2/R3, sell Nifty future if the spot trades and sustains below Pivot for target of S1/S2. I am not very sure about proper working of tomorro'w pivot levels due to high range moves of today. Be with me in Yahoo Messenger and add my ID stock_maniacs for live market hour calls :cool:.

Regards

Indrajit
 
Nifty Trading Outlook For 19th June 2009

Nifty also has shown weakness in the daily chart after 4 straight closes below the 5 DMA. Intraday selling witnessed in every rise of Nifty and it has finally closed at 4251 losing 2.4% from the previous close. The weak closing sets the stage ready for a flat or weak opening on Friday. Fresh short building seen in Nifty future, Tata Steel, ICICI Bank, Suzlon and DLF, profit booking and long unwinding seen in Reliance, Reliance Capital, RCom and NTPC whereas short covering rally witnessed in State Bank.

Nifty Technicals: Daily RSI-2 is now at 5.20, in sell mode and in strong bearish zone, but near oversold zone. For tomorrow Nifty upside first resistance will be today's high at 4375 and second resistance will be at 5 DMA at 4403. First support will be at 34 DMA at 4187 and second support will be 26th May low at 4092. Bearish momentum indicators suggest down or sideways moves can contiue in near term. Overall, a long position can be tried near 34 DMA with a closing stop loss below 4092. Cheers!!

Nifty Pivot Levels For Tomorrow:
R3 - 4497, R2 - 4436, R1 - 4344, Pivot - 4283, S1 - 4191, S2 - 4130, S3 - 4037.
Intraday trading idea: Buy Nifty future if the spot trades and sustains above Pivot for target of R1/R2, sell Nifty future if the spot trades and sustains below S1 for target of S2/S3. Be with me in Yahoo Messenger and add my ID stock_maniacs for live market hour calls.

Regards

Indrajit
 
Nifty Trading Outlook For 23rd June 2009

Nifty also has lost 1.82% (78 points) to close at 4235. The weak closing sets the stage ready for a flat or weak opening on Tuesday. Fresh buying seen in ICICI Bank, fresh short building seen in Tata Steel, Suzlon and DLF whereas profit booking and long unwinding seen in Nifty future, Reliance, Reliance Capital, RCom, SBI and Infosys.

Nifty Technicals: Daily RSI-2 is now at 19.31, in sell mode and still in strong bearish zone. For tomorrow Nifty upside first resistance will be 5 DMA 4327 and second resistance will be at 21 DMA at 4344. First support will be at 34 DMA at 4195 and second support will be 26th May swing low at 4092. Interesting to note that today, 5/21 DMA bearish crossover happened in Nifty, and it confirms that Nifty can be in bear pressure for at least in the current week. Remember, I have told my readers about a possible bull run in my 18th March post, when we got the 5/21 DMA bullish crossover. Now, lets all now eagerly watch how the bearish crossover affects Nifty this time. I hope the bear-power will be a short lived one and can bring new investment opportunities in dips towards 4100/4000/3800, and I will start doing SIP in index stocks in small lots till we are above 3800. Cheers!!

Nifty Pivot Levels For Tomorrow:
R3 - 4448, R2 - 4400, R1 - 4318, Pivot - 4270, S1 - 4187, S2 - 4139, S3 - 4057.
Intraday trading idea: Buy Nifty future if the spot trades and sustains above Pivot for target of R1/R2, sell Nifty future if the spot trades and sustains below S1 for target of S2/S3.

Regards

Indrajit
 
Nifty Trading Outlook For 24th June 2009

Nifty also recovered from morning losses and closed 0.6% up at 4247. The steady closing sets the stage ready for a flat or steady opening on Wednesday. Fresh short building seen in ICICI Bank, Tata Steel, Suzlon and DLF whereas short covering rally seen in Reliance and Infosys.

Nifty Technicals: Daily RSI-2 is now at 36.82, in buy mode but still in strong bearish zone. For tomorrow Nifty upside first resistance will be 5 DMA 4297 and second resistance will be at yesterday's high of 4351. First support will be at today's low of 4143 and second support will be 26th May swing low at 4092. So far, recovering Stochastics indicator indicates tomorrow may be an up or sideways day in the Nifty. Cheers!!

Nifty Pivot Levels For Tomorrow:
R3 - 4419, R2 - 4242, R1 - 4295, Pivot - 4219, S1 - 4171, S2 - 4095, S3 - 4047.
Intraday trading idea: Buy Nifty future if the spot trades and sustains above R1 for target of R2/R3, sell Nifty future if the spot trades and sustains below Pivot for target of S1/S2. Be with me in Yahoo Messenger and add my ID stock_maniacs for live market hour calls. Today's all intraday calls rocked and it was a total intraday profit of more than 60,000 :clap: in cash and future.

Regards

Indrajit
 
Nifty Trading Outlook For 25th June 2009

Nifty closed sharply higher at 4293 up by 1.08% than the previous close. The steady closing sets the stage ready for a flat or steady opening on Wednesday. Fresh buying seen in Suzlon and DLF whereas huge short covering rally witnessed in Nifty future, Reliance Capital, Tata Steel, NTPC and RCom.

Nifty Technicals: Daily RSI-2 is now at 65.15, in buy mode and back into strong bullish zone after 5 trading sessions. Now tomorrow if Nifty closes above its 21 day EMA at 4331, it will suggest that a short term low has been posted. For tomorrow Nifty upside first resistance will be 21 DMA 4331 and second resistance will be at 19th May high of 4509. First support will be at 34 DMA at 4209 and second support will be yesterday's low at 4143. So far, bullish Stochastics and RSI indicator suggests higher or sideways price possible in near term. Trade less and safe on the expiry day tomorrow.

Nifty Pivot Levels For Tomorrow:
R3 - 4416, R2 - 4361, R1 - 4327, Pivot - 4273, S1 - 4238, S2 - 4184, S3 - 4150.
Intraday trading idea: Buy Nifty future if the spot trades and sustains above R1 for target of R2/R3, sell Nifty future if the spot trades and sustains below Pivot for target of S1/S2. Be with me in Yahoo Messenger and add my ID stock_maniacs for live market hour calls. Today's most of the intraday cash and Nifty calls rocked and it was a total intraday profit of 15,000 :clap: in cash and future.

Regards

Indrajit
 
Nifty Trading Outlook For 26th June 2009

Nifty traded strong in morning trades but slipped into the red zone in the late afternoon trades finally closing at 4242 giving up 1.2% from previous close. The weak closing sets the stage ready for a flat or weak opening on Friday. Fresh buying seen in ICICI Bank (July series), fresh short building seen in Reliance and NTPC (both July series), short covering rally seen in ICICI Bank (June series) whereas profit taking witnessed in Nifty future, Reliance, Tata Steel, SBI and RCom ( all June series).

Nifty Technicals: Daily RSI-2 is now at 30.96, in sell mode and back into strong bearish zone confirming sideways market. Now if Nifty only closes above its 21 day EMA at 4323, it will suggest that a short term low has finally been posted. For tomorrow Nifty upside first resistance will be 21 DMA 4323 and second resistance will be at 3 DMA at 4344. First support will be at 34 DMA at 4207 and second support will be last Tuesday's low at 4143. So far, mixed momentum indicators and decling ADX suggests lower to sideways movement will prevail in near term.

Nifty Pivot Levels For Tomorrow:
R3 - 4430, R2 - 4384, R1 - 4313, Pivot - 4267, S1 - 4196, S2 - 4150, S3 - 4079.
Intraday trading idea: Buy Nifty future if the spot trades and sustains above Pivot for target of R1/R2, sell Nifty future if the spot trades and sustains below S1 for target of S2/S3. Be with me in Yahoo Messenger and add my ID stock_maniacs for live market hour calls :LOL:.

Regards

Indrajit
 
Weekend Update of Nifty

Bullish indicators suggests that the Nifty will try to retest upper levels like 4500 before the budget. If and only if 4500 is broken in closing basis, we will see upper levels like 4650. On the downside closes below 4100 will see panic selling to retest lower levels like 3700. Over all, sell all long positions around 4500 and wait for the budget to be over before taking fresh positions.

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Nifty Pivot Levels For Monday 29th June:
R3 - 4565, R2 - 4474, R1 - 4425, Pivot - 4334, S1 - 4285, S2 - 4195, S3 - 4145.
Intraday trading idea: Buy Nifty future if the spot trades and sustains above R1 for target of R2/R3, sell Nifty future if the spot trades and sustains below Pivot for target of S1/S2.
Be with me in Yahoo Messenger and add my ID stock_maniacs for live market hour calls.

Regards

Indrajit
 
Nifty Trading Outlook For 30th June 2009

Nifty opened strong today, tested intraday lows in the morning trades and then traded strong for most of the day but again plunged in the late afternoon trades to finally close at 4391, up by 0.4%. Fresh buying seen in HDIL, DLF, Tata Steel and Bajaj Hindustan, fresh short building seen in ICICI Bank and Suzlon whereas short covering rally seen in GMR Infra, Reliance and Reliance Capital.


Nifty Technicals: Daily RSI-2 is now at 84.24, in buy mode and into strong bullish zone. Nifty closed above its 5 and 21 DMA on Friday and today Nifty witnessed bullish 5/21 DMA crossover confirming Nifty back into strong bullish zone. For tomorrow Nifty upside first resistance will be today's high at 4440, second resistance is 19th May high of 4509. First support will be at 21 DMA at 4333 and second support will be last Friday's low of 4244. Still decling ADX suggests sideways price movement will prevail in near term.


Nifty Pivot Levels For Tomorrow:
R3 - 4526, R2 - 4483, R1 - 4437, Pivot - 4394, S1 - 4348, S2 - 4305, S3 - 4259.
Intraday trading idea: Buy Nifty future if the spot trades and sustains above R1 for target of R2/R3, sell Nifty future if the spot trades and sustains below S1 for target of S2/S3. Be with me in Yahoo Messenger and add my ID stock_maniacs for live market hour calls.

Regards

Indrajit
 
Nifty Trading Outlook For 1st July, 2009

Nifty opened higher today, tested intraday high in the morning trades and then traded weak for most of the day to finally close at 4291, down by 2.3%. Fresh short building seen in HDIL, DLF, Suzlon, Tata Steel, ICICI Bank and L&T whereas profit booking seen in GMR Infra, Reliance, Nifty future, SBI and Reliance Capital.

Nifty Technicals: Daily RSI-2 is now at 29.32, in sell mode and back into strong bearish zone. Nifty again closed below its 5 and 21 DMA on Tuesday and today again 5 DMA slipped below 21 DMA confirming bear grip on Nifty. For tomorrow Nifty upside first resistance will be 21 DMA at 4330, second resistance is yesterday's high of 4440. First support will be today's low at 4267 and second support will be 23rd June low of 4143. Bearish MACD and RSI but bullish Stochastics suggests sideways price movement will prevail in near term.

Nifty Pivot Levels For Tomorrow:
R3 - 4549, R2 - 4488, R1 - 4389, Pivot - 4328, S1 - 4230, S2 - 4169, S3 - 4071.
Intraday trading idea: Buy Nifty future if the spot trades and sustains above Pivot for target of R1/R2, sell Nifty future if the spot trades and sustains below S1 for target of S2/S3.
Regards

Indrajit
 
Chart patterns formed on 3rd Jan by Nifty

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Nifty patterns formed on 5th Jan 2012

Doji Candlestick pattern was formed by S&P CNX NIFTY on 05/01/2012
As per fast stochastic , S&P CNX NIFTY is in over bought range with a value of 81.2326
S&P CNX NIFTY has moved above 15 days Simple Moving Average after 17 days on 03/01/2012
 
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Nifty has hit two week high on 06/01/2012
As per fast stochastic, S&P CNX NIFTY is in over bought range with a value of 82.7733
 
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NIFTY has moved above 50 days Exponential Moving Average after 23 days on 10/01/2012
Bullish gap up Candlestick pattern was formed by S&P CNX NIFTY on 10/01/2012
Share has hit two week high on 10/01/2012
 
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Nifty Update as on 23 Jan 2012

Share has hit one month high on 20/01/2012
As per RSI , S&P CNX NIFTY is in over bought territory with a value of 87.5672
As per fast stochastic , S&P CNX NIFTY is in over bought range with a value of 95.9959
As per slow stochastic , S&P CNX NIFTY is in over bought range with a value of 95.9959
 
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Nifty Update as on 24 Jan 2012

Share has hit one month high on 24/01/2012
As per RSI , S&P CNX NIFTY is in over bought territory with a value of 88.7463
As per fast stochastic , S&P CNX NIFTY is in over bought range with a value of 96.9837
As per slow stochastic , S&P CNX NIFTY is in over bought range with a value of 96.9837
 
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