Nifty and Indian stocks
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DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.
CNX NIFTY FUTURES 6,018.45 (5,941.35) + 77.1
Nifty Futures is moving on expected lines.The level of 5755 – 5702 ( shown by green marked area) is a strong support on any correction.On Friday Nifty Futures formed a Doji which means “pause” or the market is on the crossroads. But the uptrend remains intact. A close above 6021, the high of the Doji will start another Upleg. Buy on corrections.
NIFTY FUTURES DAILY
CNX NIFTY FUTURES 6,018.45 (5,941.35) + 77.1
Nifty Futures is moving on expected lines.The level of 5755 – 5702 ( shown by green marked area) is a strong support on any correction.On Friday Nifty Futures formed a Doji which means “pause” or the market is on the crossroads. But the uptrend remains intact. A close above 6021, the high of the Doji will start another Upleg. Buy on corrections.
NIFTY FUTURES DAILY
DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.
CNX NIFTY FUTURES (6,018.45) 5969.70 -69.70
WATCH THIS SPACE ON TUESDAY, THURSDAY AND SUNDAY
In my previous post, I said buy on corrections near 5905 / 5755 -5702 zone.Nifty Futures made a pullback to 5905, the neckline, and recovered. It is a perfect book pattern. Only a close below 5702, will put the uptrend at risk.Till then, buy on corrections.
NIFTY FUTURES DAILY
CNX NIFTY FUTURES (6,018.45) 5969.70 -69.70
WATCH THIS SPACE ON TUESDAY, THURSDAY AND SUNDAY
In my previous post, I said buy on corrections near 5905 / 5755 -5702 zone.Nifty Futures made a pullback to 5905, the neckline, and recovered. It is a perfect book pattern. Only a close below 5702, will put the uptrend at risk.Till then, buy on corrections.
NIFTY FUTURES DAILY
DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.
CNX NIFTY FUTURES (5970.85) 6052.4 + 81.55
WATCH THIS SPACE ON TUESDAY, THURSDAY AND SUNDAY
Nifty as I had been saying is bullish and a “buy” on correction. It is moving on expected lines.A small concern is the falling volumes on uptrends marked by black down sloping lines.This does not nullify the pattern, but will create pause in the uptrend now and then.
NIFTY FUTURES DAILY
CNX NIFTY FUTURES (5970.85) 6052.4 + 81.55
WATCH THIS SPACE ON TUESDAY, THURSDAY AND SUNDAY
Nifty as I had been saying is bullish and a “buy” on correction. It is moving on expected lines.A small concern is the falling volumes on uptrends marked by black down sloping lines.This does not nullify the pattern, but will create pause in the uptrend now and then.
NIFTY FUTURES DAILY
DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk
NEXT POST WILL BE ON 24 th JULY
CNX NIFTY FUTURES (6052.4) 6042.55 – 9.85
Nifty Futures, as I said, is not displaying volumes on buy candles.This is the reason for the hiccups in uptrend. It is moving in an upsloping channel. The lower end of the channel should provide support for the uptrend.The upward end of the channel should provide resistance. A failure to take support on lower side of the channel may usher in some correction.
I am giving the values for Upward and downward side of the channel upto Wednesday.
Week Day Downward Side ( Support ) Upward Side ( Resistance )
Monday 5998 6165
Tuesday 6021 6189
Wednesday 6045 6213
NEXT POST WILL BE ON 24 th JULY
CNX NIFTY FUTURES (6052.4) 6042.55 – 9.85
Nifty Futures, as I said, is not displaying volumes on buy candles.This is the reason for the hiccups in uptrend. It is moving in an upsloping channel. The lower end of the channel should provide support for the uptrend.The upward end of the channel should provide resistance. A failure to take support on lower side of the channel may usher in some correction.
I am giving the values for Upward and downward side of the channel upto Wednesday.
Week Day Downward Side ( Support ) Upward Side ( Resistance )
Monday 5998 6165
Tuesday 6021 6189
Wednesday 6045 6213
DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.
NEXT POST WILL BE ON 28 th JULY
CNX NIFTY FUTURES (6087 ) 6002.7 ( -84.30)
The moment Nifty Futures fell below 6045, the level given for today’s lower channel, it crashed.So to be bullish it will have to regain it’s space inside the channel, the levels for Thursday ( 6068.7 ) and Friday ( 6092 ).
Overall there is formidable resistance at 6131 ( marked in red) and strong support at 5893 ( marked in black).Break and close below 5893 for two consecutive days will give bears the upper hand.
For Intraday Trading on Thursday, If Nifty Futures trades above 6012 for 1 hour or breaks above 6012 with volumes, it may touch 6052. Break of 5970 will be bearish.Only be careful about breakout failures, about which you can get an idea if you read my previous posts.
NIFTY Futures 15 minutes
NIFTY FUTURES DAILY
NEXT POST WILL BE ON 28 th JULY
CNX NIFTY FUTURES (6087 ) 6002.7 ( -84.30)
The moment Nifty Futures fell below 6045, the level given for today’s lower channel, it crashed.So to be bullish it will have to regain it’s space inside the channel, the levels for Thursday ( 6068.7 ) and Friday ( 6092 ).
Overall there is formidable resistance at 6131 ( marked in red) and strong support at 5893 ( marked in black).Break and close below 5893 for two consecutive days will give bears the upper hand.
For Intraday Trading on Thursday, If Nifty Futures trades above 6012 for 1 hour or breaks above 6012 with volumes, it may touch 6052. Break of 5970 will be bearish.Only be careful about breakout failures, about which you can get an idea if you read my previous posts.
NIFTY Futures 15 minutes
NIFTY FUTURES DAILY
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DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.
MY NEXT POST WILL BE ON AUGUST 21 , AFTER WHICH DAILY POSTING WILL RESUME.
NIFTY FUTURES (5907.35) +17.90 5925.25
NiftyFutures as I said is fragile and the support level mentioned as 5893 proved as a temporary support.But if Nifty Futures breaks this level in the next 2-3 days and stays below this level for 2 consecutive days, then the back of the Bulls will be broken by the Bears. If broken to the lower side 5755 -5702 area may prove as a temporary support.But I do not recommend buying till charts prove otherwise if 5893 is broken.
Failure to break 5893, will lead to a test of 6107.
In the Weekly charts Nifty Futures may be forming a Reversal Shoulder Head Shoulder Pattern.Right now it is too early to presume that.A break of 5555 will confirm that.
NIFTY FUTURES DAILY
NIFTY FUTURES WEEKLY
MY NEXT POST WILL BE ON AUGUST 21 , AFTER WHICH DAILY POSTING WILL RESUME.
NIFTY FUTURES (5907.35) +17.90 5925.25
NiftyFutures as I said is fragile and the support level mentioned as 5893 proved as a temporary support.But if Nifty Futures breaks this level in the next 2-3 days and stays below this level for 2 consecutive days, then the back of the Bulls will be broken by the Bears. If broken to the lower side 5755 -5702 area may prove as a temporary support.But I do not recommend buying till charts prove otherwise if 5893 is broken.
Failure to break 5893, will lead to a test of 6107.
In the Weekly charts Nifty Futures may be forming a Reversal Shoulder Head Shoulder Pattern.Right now it is too early to presume that.A break of 5555 will confirm that.
NIFTY FUTURES DAILY
NIFTY FUTURES WEEKLY
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DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.
NIFTY FUTURES (5748.3) -243.30 5505
Nifty Futures has come to the Neckline of the bearish shoulder head shoulder formation on the Weekly Chart.Watch the level of 5480, which is the lowest point on the neckline.Two weekly closes below it will be bearish.
On the daily chart, Nifty has formed a wide range black candle and it will provide resistance at 50 – 61.8 % of the said candle.the levels are 5608.85 and 5636.18
The wide range Candle may provide some sort of pullback or sideways market conditions for the time being.Failure to break 5480 will be bullish.
NIFTYFUTURES DAILY
NIFTYFUTURES WEEKLY
NIFTY FUTURES (5748.3) -243.30 5505
Nifty Futures has come to the Neckline of the bearish shoulder head shoulder formation on the Weekly Chart.Watch the level of 5480, which is the lowest point on the neckline.Two weekly closes below it will be bearish.
On the daily chart, Nifty has formed a wide range black candle and it will provide resistance at 50 – 61.8 % of the said candle.the levels are 5608.85 and 5636.18
The wide range Candle may provide some sort of pullback or sideways market conditions for the time being.Failure to break 5480 will be bullish.
NIFTYFUTURES DAILY
NIFTYFUTURES WEEKLY
DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk
NIFTY FUTURES (5416.75) -18.5 5398.25
Nifty Futures as I mentioned crashed after breaking 5480. We have yet to see a Weekly close below the said level. On the daily charts, NiftyFutures is moving in a downsloping channel.The levels for tomorrow are 5664 ( Upper channel) and 5306 ( lower channel) . Nifty Futures will turn bullish only if it can break the upward channel. Since Nifty Futures has formed a big Hammer, avoid shorting at current levels and watch for the next clue.
NIFTY FUTURES DAILY
NIFTY FUTURES (5416.75) -18.5 5398.25
Nifty Futures as I mentioned crashed after breaking 5480. We have yet to see a Weekly close below the said level. On the daily charts, NiftyFutures is moving in a downsloping channel.The levels for tomorrow are 5664 ( Upper channel) and 5306 ( lower channel) . Nifty Futures will turn bullish only if it can break the upward channel. Since Nifty Futures has formed a big Hammer, avoid shorting at current levels and watch for the next clue.
NIFTY FUTURES DAILY
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