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April 12, 2010 by | No Comments
It was a drab session today where Nifty traded in a narrow range of just 50 odd points. The bulls are just not giving up, and on this the markets are holding up finding support at lower levels irrespective of the momentum being in a sell mode. On the upside 5400 is a crucial resistance, [...]
April 9, 2010 by | No Comments
Nifty fell sharply in today’s session breaking the trendline support. The daily momentum that gave a negative divergence for a week was a signal of exhaustion. Yesterday, it turned into buy mode but it did not sustain and made a hinge by turning into sell mode again. This is another sign of the rally losing [...]
April 6, 2010 by | No Comments
Trading in a very tight band all through the day, Nifty wrapped the session in red forming a Doji star. In first half, the index consolidated in a triangular pattern and gave an upside breakout, but the move fizzled out at higher levels with the index failing to close above 5300. Going ahead, 5316 remains [...]
April 5, 2010 by | No Comments
Nifty continues to rally on the upside getting closer and closer to the uptrend line of the ending diagonal. The hourly and the weekly momentum indicators, which are in buy mode, are positive signals for the bulls, whereas, the daily momentum continues to give negative divergence. The breadth has improved for couple of days, but [...]
April 4, 2010 by | No Comments
Nifty closed in green today, preventing a negative weekly close—thereby keeping hopes alive for the bulls and testing the patience of bears. The daily momentum continues to be in a sell mode, whereas the hourly momentum has come into a buy mode but trading below the zero reference line, thus falling short of confirming that [...]
March 30, 2010 by | No Comments
Nifty has turned down after taking off the high of 5310 and is now moving in tandem with the indicators. Since four days, the index has been moving higher with a sell in daily KST and a negative divergence on hourly charts, which raised doubts about it moving higher. The breadth and volumes signaled caution—so [...]
March 29, 2010 by | No Comments
Nifty, in the first half, was struggling to march past 5310 but took it off easily in the second. The five-wave declining pattern and the bearish engulfing candlestick pattern on the monthly charts is now negated this gives bulls some relief but bears need to reassess their game plan. The momentum continues to be strong [...]
March 28, 2010 by | No Comments
After giving a breakout from the triangular pattern, Nifty continues to trade on upside surpassing the resistance of 5270 and just shy of 5310—the previous swing high made in January when it had formed a monthly bearish engulfing pattern. The index is trading in an upward parallel channel and above 5310. The next target is [...]
March 26, 2010 by | No Comments
After consolidating for couple of days, Nifty formed a triangular pattern, and today it gave a breakout but missed the high of 5270 by few points. It is moving in an upward parallel channel and taking support at the lower levels as mentioned earlier. 5180 is a crucial level to watch out for. The daily [...]
March 25, 2010 by | No Comments
Nifty traded within a range for yet another day with the expiry of March F&O contracts due on day after tomorrow (Thursday; March 25, 2010). There are clearly two levels Nifty needs to watch out for—5180 on the lower side and 5270 on the higher side, as this is the range in which the index [...]
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